Cory Munchbach, COO of BlueConic, believes that with the right strategies in place businesses can achieve long-term success in the post-cookie world...
While the demise of third-party cookies is already rewriting the rules of the digital advertising ecosystem, it’s a positive move to ensure consumers have more choice, transparency, and control over how their data is collected and used. It will also lessen the number of irrelevant and disruptive ads that have ruined the user experience. The change can be good for marketers too, as long as they take steps to reduce their reliance on third-party cookies and move towards a more sustainable future built on trust.
Many companies that had relinquished identity, advertising, and data collection to the ‘walled gardens’ – including Google, Facebook, and Apple – are now confronting the fact that ongoing privacy changes by these browsers and device manufactures put many existing engagement strategies and revenue models at risk across industries.
Rather than trying to find one-to-one replacements for technologies that use third-party cookies to execute on specific tactics, brands and publishers must create fair and transparent value exchanges so they can start building (or increasing) their first-party data asset. They also need to consider partners and technologies that give them confidence in, access to, and utility from that first-party data. Specifically, look for technology that’s been explicitly designed to create a unified view of each individual customer, and make that data readily accessible to cross-functional teams.
Personalisation is a proven, straightforward path to creating happy and loyal customers. In fact, 80% of consumers say they are more likely to make a purchase from a brand that provides personalised experiences, according to Epsilon.
Yet many companies struggle with personalisation because the business teams that are responsible for designing and delivering customer experiences (marketing, customer experience, digital product teams, etc.) lack direct access to first-party customer data in the form and speed with which they need it. The various tools of their trade (email, campaign management platforms, adtech, e-commerce platforms, CRM) are siloed and thus, store data and recognise customers and prospects in ways that are unique to each system.
When business teams have access to a single, real-time view of their customers and prospects – paired with the ability to activate that data when and where it’s needed – they can create individualised experiences across all touchpoints, adapt on a dime as consumer behaviours and market conditions change, and eliminate the operational inefficiencies and dependencies that historically slow time-to-market.
Third-party cookie deprecation is already here but with a strategic mindset, the right tools, and an emphasis on first-party data, it’s possible to mitigate the impact and set your business up for long-term success.