Explanation
Building a trust-based, first-party data asset means collecting, managing, and activating data from your own customers and prospects in a way that respects their privacy and preferences. It also means providing them with clear and honest information about how you use their data, what benefits they can expect from sharing their data, and how they can control their data. By doing so, you can create a mutually beneficial relationship with your customers, where they trust you to use their data responsibly and ethically, and you can deliver more relevant and personalized experiences to them. A trust-based, first-party data asset can help you improve customer loyalty, retention, and growth, as well as comply with data protection regulations and standards. References: Use first-party data for a powerful digital experience, Why first-party data is the key to data privacy, Build a first-party data strategy