In this day of technology and constant connection we can share our lives with the whole world, if we so chose. This is all thanks to the founding father
of the Web, Tim Berners-Lee.
The web was born out of a desire to easily share information from one computer to the next. To nurture that wish, it was decided that the underlying code
that makes the World Wide Web function, would be free to share universally, forever. This may have set a foundational core characteristic of the web,
as we continue to see sharing as the main activity taking place on the Internet today.
When we interact with social networks like Facebook, Tumblr and YouTube, we are encouraged to share images, videos, thoughts and more. Terms of service
As soon as you enter the web, you participate by sharing something – either behavior by your presence alone, or in the form of contributing with content.
Sharing is undoubtedly the most important element of the Internet, and has sparked an entire ecosystem in the form of “The Sharing Economy.” It is time
marketers around the world learn to adopt this practice and weave it into their digital strategies. Let’s take a closer look at what “The Sharing Economy”
means in the context of digital marketing.
Achieving personalized marketing
By now, we all know the importance of user data. Knowing your customers is essential to the success of digital campaigns, and to maintain a personalized
and close relationship with the empowered consumer.
The newest member of the highly regarded data family is second-party data. While first-party data regards data that is directly given to you by the user,
second-party data is indirect data that you obtain through a relationship with another entity. In simpler words, second-party data is another organization’s
first-party data. In the sharing economy this is becoming a shareable resource. The idea is: while few businesses can match the data in Facebook and
Google’s possession, together they can.
So, why is second-party data such a big deal? Because it allows for marketers to view each customer’s journey holistically, across all channels, without
limiting the data insights to one single campaign. Single-channel marketing will not be an option in the future. As such, knowing what device preference
each customer has will be key to delivering a rich experience across all touchpoints.
By realizing the potential in the sharing economy, businesses can achieve rich user experiences outside of specific campaigns and platforms, and without
the dependency of Facebook or Google.