According to industry experts, marketers have a better alternative if they are concerned about the phase-out of third-party cookies: Be enthusiastic! There is much potential for digital marketing to be more successful than ever, as well as many significant changes taking place.
Since cookies were first introduced, it has been more than 25 years. Since that time, third-party cookies have been a significant contributor to consumer profiling and retargeting for advertisers, which has fueled considerable brand growth.
But as Google readies to follow Mozilla and Apple, who have decided to leave the cookie ecosystem in 2019, the cookie is poised to join the empty biscuit tin of history. According to Statcounter GlobalStats, the effect of Google’s decision, which will affect 63% of browsers globally and 83% in some countries, makes the company’s 2022 promise a critical turning point for the industry.
Many brands will face difficulties throughout their digital ecosystem without prompt and appropriate action because technology, strategy, measurement, inventory, and creative will all be affected. To ensure their online ads can still be targeted and tracked, brands will need to come up with novel and inventive solutions. To get ready, they will also need to adjust how they invest.
While there isn’t a one-size-fits-all solution to this problem, there are three key areas to consider as marketers move toward a post-cookie society.
Also Read: Identity Targeting in Privacy-First, Post-Cookie World
Test procedures without third-party data
Industry excerpts advise brands to decide whether they need to change their targeting strategy in order to achieve their objectives. If this is the case, marketers must recognize and audit the information, tools, and partners they now employ for customer and prospect targeting, identifying the information derived through third-party cookies. Marketers must next put the new strategy to the test and evaluate the results.
For brand-new targeting initiatives, marketers must set reasonable expectations. There isn’t a single, standardized targeting strategy that is effective in all usage cases. In order to assess the genuine efficacy, marketers should concentrate on the audience efficiency of reach and any new targeting strategy in comparison to primary targeting methods.
Request approval
Although this one should be quite clear, it’s still astounding how many companies still fail to obtain users’ agreement before collecting their personal information online. Nowadays, when consumers are demanding more privacy, transparency, and power over how their information is used, it is extremely important to obtain their consent.
Also Read: Community and Consumer Privacy in the Metaverse Beyond Third Party Cookies
To guarantee that customers know how they are using the data they have obtained about them, marketers must make sure their privacy policy is always updated. In order to provide users control over their consent and data, marketers should also use permission management technologies and integrate them into their websites.
Identify additional opportunities along the way
Without third-party cookies, marketing and advertising won’t function as they do now. However, if marketers give it some thought, doing away with third-party cookies might actually be a good thing since it will enable them to forge even deeper relationships with their customers. People are aware that a future without cookies won’t be simple, which is why it’s critical to be informed and constantly be on the hunt for new opportunities.
Future state: A more multichannel environment
There won’t be a void for marketers if third-party cookies are eliminated. Both major and small platform firms are developing new business models and technology to support digital advertising that is more sensitive to privacy issues.
It’s too early to say which will prevail, but it’s clear that the number of marketing and sales possibilities will increase.
Platform goliaths that currently prioritize advertising (like social media firms) will provide more channels for sales. More advertising will be provided by businesses that are more focused on sales, such as digital merchants. With more sales and advertising opportunities, smaller platforms (like those used for video conferencing or online learning) will also enter the fray. More channels than ever before will be available for Omni channel marketing.
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