Four Strategies for Driving Revenue in a Cookie less World

With customers and brands focusing on user privacy and consent, CMOs should create strategies that will enable them to drive growth in a cookie less world.

The role of CMOs and their responsibilities have evolved over the recent years, especially since 2020. With the rise of cookie less marketing environments, CMOs now have little choice but to focus on creating better strategies that drive revenue. With aspects such as user privacy, consent, and data prioritizing brands, it has become difficult to create relevant ads that enable businesses to get promising customer insights. Therefore, CMOs must re-assess their marketing models to keep customer preferences at the forefront but in a non-intrusive way.

CMOs should adopt a privacy-centric approach that will enable businesses to operate as they shift to accurate, convenient and responsible methods that target potential customers. Businesses also need to understand that there are no shortcuts to securing data. They need to focus on the data they own that will help them create new opportunities and deliver personalized experiences in real-time.

Also Read: Shifting to a First-Party Data Strategy for Providing Excellent Customer Experience

Here are four strategies that can help CMOs drive revenue and growth in a cookie less world:

Bringing privacy to the core of the strategy

With the marketing landscape shifting its focus towards ethical data and evolving data privacy, CMOs should take the lead on exploring safer strategies around going cookie less, ad personalization and more. They should proactively analyze their marketing strategies and create an approach designed with customer privacy at its heart. This approach will enable the brands to thrive on exceptional customer experiences and loyalty in the long term.

Leveraging the power of real-time personalization

Even though customers are not keen to share their information, they still want the brands to deliver a personalized experience. Hence, with fewer profile data at their disposal to create personalized content, CMOs should restructure their existing customer experiences around millisecond-paced decisions. This should align each individual’s goal with the right message and the right moment. Additionally, to deliver the maximum impact, Real-Time Customer Data Platforms (RT-CDP) need to be equipped to provide actionable insights for creating on-the-fly personalized customer experiences.

Reassessing customer journeys

Third-party cookies never hinder a brand’s ability to interact with their customers and provide value to them across customer journeys. Earlier, brands were able to retarget the same customer elsewhere online, when a customer journey dropped mid-way. However, with the changes taking place today, CMOs should focus on faster data collection and analysis during the customer journeys and should strive to perfect prompt and in-context personalization.

Also Read: The Positive Impact of Cookie Restrictions on Data Privacy Issues

Reading data with empathy

While businesses can store as much data as possible to craft an excellent user persona, cull out insights and take action upon them, it is important that they avoid treating their customers just as datasets. CMOs should take the initiative to blend data with emotion to acquire new customers and retain existing ones. This will go a long way for CMOs to serve just the right customer experience.

With tech companies and browsers looking to eliminate third-party data, CMOs should understand this shift in the trend and take advantage of the new opportunities to strengthen their relationships with their customers. Though the road to success is complex and daunting, the goal is still achievable through supporting technologies that can quickly deploy on any scale.