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Finding and attracting new customers can be costly. A new era of increasing data privacy standards and consumer empowerment means the heyday of third-party data collection using cookies is coming to a close. As third-party data becomes more complicated to collect it is making it more expensive, in turn increasing the cost of Pay-Per-Click (PPC) advertising. In a recent survey of marketers 44% of respondents believe they will spend 25% more on PPC than they did in 2021 to achieve the same results. The good news? This also increases the value of first party data assets too.
First party data is free to collect and most experts in the field agree that first party data is more accurate since it’s obtained directly from the customer. It’s also a more future proof method for data collection, and with the requirement for consumer consent and company transparency it is considered the most ethical. Existing customer data can also be used to improve targeting, and find more new customers that “look like” your current shoppers.
We’re committed to revolutionizing how retail real estate connects with shoppers. Shopping centers have always been gathering places where communities come together, but the digital age demands new ways to foster those connections. Placewise exists to provide the platform and expertise that transform traditional retail properties into dynamic, digitally-enabled destinations. Through innovative technology and strategic partnership, we help you build lasting customer relationships, maximize marketing impact, and create environments where both shoppers and tenants thrive.
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Finding and attracting new customers can be costly. A new era of increasing data privacy standards and consumer empowerment means the heyday of third-party data collection using cookies is coming to a close. As third-party data becomes more complicated to collect it is making it more expensive, in turn increasing the cost of Pay-Per-Click (PPC) advertising. In a recent survey of marketers 44% of respondents believe they will spend 25% more on PPC than they did in 2021 to achieve the same results. The good news? This also increases the value of first party data assets too.
First party data is free to collect and most experts in the field agree that first party data is more accurate since it’s obtained directly from the customer. It’s also a more future proof method for data collection, and with the requirement for consumer consent and company transparency it is considered the most ethical. Existing customer data can also be used to improve targeting, and find more new customers that “look like” your current shoppers.
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Calculating the revenue generating value of customer data is a very straightforward exercise if you’re a retailer. Retailers can look at factors like Customer Lifetime Value (CLV), purchase frequency, and amount of average purchase, to determine the revenue they generate or could potentially generate from their customers. There’s a reason almost every successful retail brand today invests in continually engaging and growing their loyalty membership…first party data. And first party data is getting more valuable every day. In fact, according to a study by Deloitte Data Valuation: Understanding the Value Of Your Data Assets.
- We’re committed to revolutionizing how retail real estate connects with shoppers. Shopping centers have always been gathering places where communities come together, but the digital age demands new ways to foster those connections. Placewise exists to provide the platform and expertise that transform traditional retail properties into dynamic, digitally-enabled destinations. Through innovative technology and strategic partnership
- we help you build lasting customer relationships
- maximize marketing impact and create environments where both shoppers and tenants thrive.
Lorem ipsum dolor sit amet
Finding and attracting new customers can be costly. A new era of increasing data privacy standards and consumer empowerment means the heyday of third-party data collection using cookies is coming to a close. As third-party data becomes more complicated to collect it is making it more expensive, in turn increasing the cost of Pay-Per-Click (PPC) advertising. In a recent survey of marketers 44% of respondents believe they will spend 25% more on PPC than they did in 2021 to achieve the same results. The good news? This also increases the value of first party data assets too.
First party data is free to collect and most experts in the field agree that first party data is more accurate since it’s obtained directly from the customer. It’s also a more future proof method for data collection, and with the requirement for consumer consent and company transparency it is considered the most ethical. Existing customer data can also be used to improve targeting, and find more new customers that “look like” your current shoppers.