Jan 18, 2022
Companies have long relied on third party tracking and data collection to gain insights about consumer behaviour. The use of third-party tracking and data collection to gain insights about consumer behaviour is no longer feasible due to the introduction of privacy regulations such as GDPR and CCPA. These regulations restrict how companies can collect, store, and use personal data, making it difficult for them to rely on outside sources for this information. As a result, companies need to find other ways to collect data and understand consumer behaviour.
The rise of Conversational AI offers a new way for companies to collect data from their customers. Conversational AI is the future of marketing and customer service, as it enables companies to gather more information about their customers than ever before. With conversational AI, companies can collect data directly from customers in a secure and compliant manner. This allows businesses to gain a better understanding of customer needs and preferences, which can help them create more effective marketing campaigns and improve customer service while adhering to new privacy regulations.
The importance of first party data collection
First party data is one of the most important aspects of online marketing. It refers to the data that you, as a business, collect about your own customers and website visitors by yourself. This data is incredibly valuable because it’s coming directly from your customers, which means you can be confident about its accuracy.
The importance of collecting first-party data has always been a crucial component of doing business online. However, it has taken on a new level of importance in the wake of privacy regulations such as GDPR and CCPA. These regulations place strict restrictions on how companies can collect and use data, making first party data collection the most attractive way to legally gather information about users.
The use of third party data resources has always been a popular way to collect data, as it allowed companies to gather information about users from sources other than their own websites. This approach, on the other hand, has come under fire in recent years as businesses have sought to misuse these data for unethical purposes such as the Cambridge Analytica scandal and consumers have become more conscious of their privacy exposure.
In addition companies such as Apple and Google have taken steps to prevent the use of cookies, in order to stop third party tracking. Apple Intelligent Tracking Prevention (ITP) is a new technology that prevents website owners from being able to track users with cookies. Google has also announced that they will be preventing the use of third party cookies in Chrome browsers by 2023. With these updates companies need to be less reliant on third party data and more reliant on first party data.
Conversational AI for first party data collection
“Sometimes all you have to do is ask, and it can lead to all your dreams coming true.” – Randy Pausch, Last Lecture
One way for businesses to collect first-party data is through the use of conversational AI. This technology allows companies to chat with customers directly, gathering information about their needs and preferences in a natural conversation.
Conversational AI has several advantages over traditional methods of data collection such as surveys and questionnaires. First, it’s more engaging for customers, who are more likely to provide accurate information when they’re engaged in a conversation. Conversational AI is natural and seamless. A customer can speak naturally with conversational bots that are capable of natural language understanding, giving their responses without feeling like they’re being “interviewed” by a robot asking predetermined questions. This natural conversation also makes it easier for users to provide examples of past experiences which will help the business gather more valuable information.
Second, it’s more efficient for businesses, as conversational AI can automate the collection of data from large numbers of customers simultaneously. It’s easy to set up a conversational bot and have it ask the same questions from multiple people at once. This allows businesses to gather information about a large number of customers in a short amount of time, which is ideal for gathering data during events such as trade shows or product launches.
Finally, it provides insights that wouldn’t be possible through other methods of data collection. Conversational AI can ultimately suggest ways for companies to improve their products and services based on the information they gather from customers, creating a win-win situation that benefits both parties.
We can help you with your data problems !
Arithmix AI is a conversational AI platform that can help your business gather valuable first party data while adhering to new privacy regulations. We provide natural conversational agents that are capable of understanding customer needs and preferences in a seamless conversation. Our bots are easy to set up and can be used to collect data from large numbers of customers simultaneously, making it the perfect tool for data collection events such as trade shows and product launches. Arithmix can also create customer personas that will help your business understand the language of your customers, giving you a better idea about how to reach them with products and services they’ll actually use! If this sounds like something you need , talk to us today !
Arithmix AI Team
Business Growth Amplified!