Second-party deter refers to first-party data that website owners or data management platforms (DMPs) accumulate and resell to marketers, who use the data for running advert campaigns. Companies receive 2nd-party data because of certain advertising activities like reading e-mail messages, target actions, landing page views, clicks, audience social activity, etc.
Marketers who need 2nd-party data purchase it directly from the company that owns it. The transaction does not involve any middleman or intermediary. All that is needed is for the marketer to seek out a company with the data they need and proceed on a relationship with them. If marketers find the right data set, it can become very useful for them.
With second-party data, marketers have access to more information they could not obtain from first-party data. Since second-party data comes directly from the company that collected it, you can trust that it is of the highest quality. It is also more precise than data your aggregate from multiple sources. With second-party data, you can:
- Increase the scale of your data
- Reach new audiences
- Predict behaviors and patterns
- Build relationships
