Top 3 Benefits of Gathering + Analyzing 1st-Person Data for Growth

In today's data-driven world, companies are always looking for ways to gain a competitive edge. One way to do this is by gathering and analyzing 1st-person data, aka customer data or “person-first data.”

First, what IS 1st-person data? 

1st-person data is information that is collected directly from customers through various means, such as:

• Online forms
• Polls
• Reviews
• Surveys
• Social media interactions
• Interviews, and more. 

This data is typically collected and owned by the company, and it can include information such as customer demographics, preferences, behaviors, and purchase history for customer segmentation. 

1st-person data is valuable to businesses because it provides insight into the needs, preferences, and behaviors of their specific customers. 

By analyzing this data, companies can make more informed decisions about their products, services, and marketing strategies, ultimately helping them to grow and succeed in their market.

Benefits of 1st-Person Data

The top 3 benefits of gathering and analyzing 1st-person data to grow your business are:

• Improved decision making
• Enhanced customer experience
• Increased efficiency + profitability

Let’s go through them one by one. 

1. Improved decision making

By gathering and analyzing 1st-person data, companies can make data-driven decisions about their products, services, and marketing strategies. 

For example, a company that sells clothing might gather data on what types of clothing customers are purchasing, how often they make purchases, and what factors influence their purchasing decisions. 

This information can help the company make decisions about what types of clothing to stock, how to price its products, and how to market to its target audience.

2. Enhanced customer experiences

By understanding the needs and preferences of their customers, companies can create personalized experiences that keep customers coming back. It's the flywheel effect, and it works.  

For instance, a company might use 1st-person data to recommend products or services based on a customer's past purchases or browsing history on their website. 

This personalized approach can help build customer loyalty and increase the likelihood of repeat business.

3. Increased efficiency and profitability

Gathering and analyzing 1st-person data can also help companies streamline their operations and increase profitability. 

A good example is a company that uses 1st-person data to identify bottlenecks in its production process or to optimize its marketing spend. 

By understanding where they can improve their operations, companies can increase efficiency and reduce costs, ultimately leading to higher profits.

Facts: gathering and analyzing 1st-person data is a valuable tool for businesses looking to grow and succeed in today's competitive market. 

By using this data to make informed decisions, enhance customer experiences, and increase efficiency, companies can gain a competitive edge and drive growth.

Is that your business? Then let’s talk about how the process works. 

How Do You Gather (much less ANALYZE) 1st Person Data?

Our choice? HubSpot, of course. 

HubSpot is a customer relationship management (CRM) platform that helps businesses gather, store, and analyze 1st-person data to better understand and serve their customers. 

Here are a few ways that HubSpot can help businesses gather and analyze 1st-person data:

1. Forms and surveys

HubSpot provides tools for creating and distributing online forms and surveys to gather 1st-person data from customers. 

Value of these tools: learn more about customer preferences, behaviors, and satisfaction levels so you can better provide them with what they need.

2. Marketing automation

HubSpot's marketing automation features allow businesses to segment their customers based on data such as demographics, behaviors, and purchase history. 

Value of this tool: allows businesses to tailor their marketing efforts to specific groups of customers, increasing the effectiveness of their campaigns.

3. Customer analytics

HubSpot provides customer analytics tools and reports that allow businesses to track customer behavior and engagement across various channels, including email, social media, and their website. 

Value of this data: helps businesses understand how customers are interacting with their brand and identify opportunities for improvement.

4. Customer service

HubSpot's customer service tools allow businesses to track and analyze customer inquiries and interactions with their support team. 

Value of these tools: can be used to identify common issues and improve the customer support experience.

Overall, HubSpot is a powerful platform for helping businesses gather and analyze 1st-person data to better understand and serve their customers.

Need help developing a strategy for gathering or analyzing 1st-person data to help your customers, your team, and your bottom line? 

Ask us how we do it at Growth. We can help you create a game-changing strategy for growth through data-driven solutions and beyond (and we're HubSpot Diamond Solutions Partners, to boot!)