By 2022, Chrome will stop supporting third-party cookies – the technology that sustains online advertising that is seen today. Privacy concerns about ways businesses can track users without their knowledge and permission have become the driving force behind Firefox, Safari, and Chrome- ending this functionality entirely.
A Cookie-less future is inevitable, with a growing demand for user privacy and upcoming data privacy regulations. Cookie-oriented techniques expose customers’ data and privacy across the ad-tech platforms; therefore, a Cookie-less future seems to be the way forward.
In 2019, IAB Europe had predicted that in the year 2020, adtech would change regulator perceptions of digital advertising and deliver on the GDPR’s promise to provide control and transparency to users regarding the processing of their personal data.
But 2020 turned the world upside down – from a global pandemic to the demise of third-party cookies, everyone is treading uncharted waters. But, every disruption is an opportunity.
Consumers are increasingly worried about data privacy, with data security breaches making news frequently. Therefore, now more than ever, trust is crucial, and for a consumer to trust a company with their data, privacy compliance needs to be at the center of user experience.
Also Read: Majority of CMOs Lack Data Ethics Policy, Says Study
In the past few years, several privacy regulations have come into force around the world. But, these regulatory initiatives have created greater complexity for the adtech and martech industries.
Privacy, Ethics, and Consumer Data
Publishers are often under fire when it comes to data protection. Most recently, TikTok was in the firing line. The social media platform faces allegations of misleading its users for not providing clarity on what kind of personal data it collects and what it is used for.
Even though publishers hold the ultimate responsibility for their platforms, brands also need to make consent their priority. Consumer trust can only be achieved with a privacy experience that clearly informs them of their rights while laying out the benefits of personalized advertising.
In today’s increasingly complex environment, brands must establish and communicate their approach to privacy. Therefore, establishing a set of best practices will help evaluate the vendors and partners to ensure customer experiences with the company match the brand ethics and image.
Building Trust around Data
With the demise of third-party cookies, businesses now need new ways to accurately engage consumers since traditional ways of working are no longer productive. A key remedy to this would be the use of next-generation contextual targeting products. With this, brands can not only protect themselves through smarter suitability measures but also achieve improved outcomes with smarter in-the-moment targeting.
Engaging with Customers
Businesses need to take responsibility and have an excellent tech and data ethics strategy so that best practices are met at all times. With contextual tools taking over third-party cookies, brands need to embrace technology advancements to drive relevance and suitability in order to improve customer experiences.
Also Read: The Demise of Third-Party Cookies and its Impact on Retailers
Privacy compliance needs to be at the forefront of all marketing activities, and a comprehensive data management infrastructure needs to be put in place for this.
Brands need a new type of marketing partner, one that is driven by outcomes and powered by expertise. Integrating end-to-end marketing services with the right technology and the right data obtained with user consent will help businesses step into the new age of marketing.
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