Principles of zero-party data
Collecting zero-party data is all about value exchange between you and your customer. While consumers are generally very cautious when it comes to giving their data up freely, they are often more than willing willing to explicitly share their preferences if they feel confident that they will get something of value in return or if they are being heard.
The paid option- offering a product or discount
An overwhelming 87% of consumers have said they are willing to trade personal data with brands for an early or exclusive access to particular product or offers. That number goes even higher when being offered a discount code or freebie in exchange for their information. When done correctly, offering an incentive can pay for it self several times over, and is a great way to build an initial trove of zero-party data for your brand.
The free option- making sure the customer feels heard
55% of consumers say they will divulge their data as long as they feel like they are a part of a community. When you speak to consumers directly, make sure it is in a natural and conversational style. More importantly, make sure that you thank them for their time and respond to them when they share a meaningful experience. A simple email, whether it is automated or not, goes a long way in making a customer feel heard. Customers who feel like they are a part of your community are the bedrock of any successful brand as they will advocate for you and spread awareness through word of mouth.
Why not both?
Considering immense value of zero-party data it's a no brainer to make sure you follow both of the tips above: offer an incentive and ask yout questions informally. Once you get an answer, be sure to follow up with each customer in some capacity- you will be happy you did.
