Marketers across industries need to take improved and fast approaches to keep up with the consent-based advertising world in this evolving marketplace.
With the third-party cookie data comes to an end, CMOs and marketing teams need to prepare for a new future – an era of consent-based advertising. However, the end of third-party cookies doesn’t necessarily indicate the edge of audience targeting and tracking.
There are several privacy-first initiatives proposed already by prime members of the industry. Now the question arises – can they allow viable choices to audience targeting? Probably!
Google has stated sometime back that the Chrome browser will not support third-party cookies by early 2022. This development is expected to have significant consequences for all marketing leaders associated with digital advertising.
This in huge part due to the tech giant’s control of search – its central status in display advertising along with its growing dominance around ad-supported streaming television. In fact, in any post-cookie scenario, digital marketers should look forward to substantial and sustained disruption to online advertising to last through the H1 of 2023 or a little longer.
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At the same time, as third-party cookies sink, ad data, as well as third-party processing, will also decline in availability, breadth, and quality. Moreover, buying and optimization processes and ad targeting will undoubtedly be disrupted and constrained – this is mainly for performance-oriented marketing campaigns and custom audiences.
Even the current ad measurement, attribution, and optimization practices will become more peripheral or irrelevant since the cookie data gaps will weaken attribution and optimization. This includes instrumentality testing along with app-to-web tracking.
According to Gartner, to prepare for the changes linked with a cookie-less marketplace, business leaders will need to consider the following methodologies –
Preparing for sustained disruption
Developing a strategy to drive the overlapping, cascading impacts of identity as well as privacy changes from Google and Apple – this is through at least H1 of 2023. Marketers should plan to make important shifts in the media mix by reinventing, redirecting, or retiring cookie-related media spend.
Rethinking ad measurement practices
To gear up for the new era of advertising experimentation, brands should reset measurement baselines, keep investing in market research, and lock in critical resources. This could be from the agency workers to publisher-direct deals.
Also Read: The Significance of Business Intelligence to Understand the Evolving Consumer Behaviour
Adapting to the walled garden era
Marketers will be required to get comfortable with guarded world scenarios involving increased allocations to Google, Amazon, and Facebook. They may need to manage an increased number of direct media buys – with platforms and publishers while they run the less cross-publisher programmatic display.
As explained by Eric Schmitt, senior director analyst at the Gartner for Marketers practice – “Marketing leaders responsible for ad budgets, media mix, planning, and measurement will need to adjust strategies quickly as Google rewires its data policies, ad products, and capabilities amidst an era of new privacy norms and elevated antitrust dynamics.”
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