Chief marketing officers (CMOs) need to prepare for the death of third-party cookies and third-party data. But where to start? We suggest the following:
1. Prepare for Sustained Disruption: Develop a strategy that navigates Apple and Google’s new privacy changes. As cookie data collection ceases, large segments of the digital data universe will become dated—and less trustworthy. Advertisers will have to grapple with a drastically different digital ad targeting landscape. A cookie-less world will cause seismic shifts in media mix and ad spend.
2. Rethink Ad Measurement: A cookie-less world will compound an already challenging ad measurement with attribution accuracy. Marketers will have to experiment and reset expectations about baselines.
3. Get Comfortable in a Walled Garden: A cookie-less world will compound an already challenging ad measurement with attribution accuracy. Marketers will have to experiment and reset expectations about baselines.
4. Invest in Zero-Party Data Collection: CMOs need to embrace working with their heads of data technology, with the goal of understanding which zero-party and first-party data will be required for customer acquisition, retention, and relationship-building via highly personalized communications.
Today, even if customers want to protect their online privacy, they still expect consistent personalized experiences, regardless if it is in-store, online or via a mobile app. Therefore, marketers need to shift to a first-party data strategy, which means leveraging data you gather from direct interactions with customers.
Consumers are demanding privacy albeit on their terms, and browser manufacturers are acquiescing to them–forcing today’s ad technology to adapt.
“Many marketers are still hung up on the notion that personalization means creating hundreds of tag lines, creative variants and more,” said John Douglas, senior director of product marketing at Sizmek. “In reality, personalization is just as much about making the experience relevant to the consumer.” The difficulty that marketers experience with personalization reflects a lack of prior investments in collecting first-party data instead of third-party data.
Discover new ways to collect zero-and first-party data from your website, turning prospects into customers and customers into loyal brand advocates. We understand the challenges that brands are facing in our new cookie-less world. Let us demonstrate the real power of unlocking your first-party data by utilizing SAVVY DATA AI's online visitor identification technology. If you are interested in driving more sales and giving your businesses a real competitive advantage, drop us a line and let’s chat.
