How will the end of third party cookies impact you?
Let’s Look at how you can still successfully advertise in a post-cookie world.
Following the introduction of the General Data Protection Regulation Act (GDPR) in 2018, along with data scandals such as Cambridge Analytica, consumers have become increasingly weary of how their data is used online, with many internet users growing increasingly troubled by privacy and transparency issues.
As a result, dominant internet browsers including Safari and Google have responded by pledging to put an end to third-party cookies on their browsers and operating systems. From 2022, tracking cookies will no longer be supported on Google chrome, limiting your ability to track consumers’ online activity to support your advertising efforts.
The immense growth in online ad revenue over the past 2 decades is in large part due to the distinctive targeting that third-party cookies make possible. Cookies have helped to achieve clear-cut audience segmentation and attribution, taking marketing to a level of personalisation that was essentially impossible prior to the existence of cookies.
Towards More Human Marketing
The answer to Google’s phase-out of these cookies isn’t to find new ways to do the same things, but to start innovating and creating a more human advertising experience for consumers through increased transparency and respect for privacy.
Investing in and successfully deploying great consent management issues will become increasingly important to get value out of customer data whilst respecting their privacy and adhering to their marketing preferences.
Along with the shift towards subscription models and logged-in environments, contextual advertising, as a privacy-friendly way for advertisers to work with publishers to reach different audience segments in an increasingly personalised way, will become extremely important.
Open web will also become more important than social media and search as a result of lack of trust and removal of third party cookies. In a study by Integral Ad Science, 83% of consumers considered it important that ads are placed next to high-quality content, and 80% consider ads on news sites to be more trustworthy than those shown on social media.
However, walled-garden environments such as social media apps and traditional media networks shouldn’t be forgotten about in the post-cookie world. These ecosystems are well ahead of search engines and publishers when it comes to consumer consent and will not be as impacted by the move away from third-party cookies as will the rest of the internet. So, now may be a good time to start formulating a new social media strategy.
Are Agencies The Answer?
Advertising agencies’ ability to provide insightful data may also become more popular for brand marketers who won’t be able to track customer journeys in the same way they do now. Brand Strategy agencies also may become essential for helping you understand contextual advertising and social media marketing if much of your in-house advertising previously relied on third-party cookies.
Ultimately, the best thing to do as a marketer is to continue to stay up-to-date with the latest news related to third-party cookies, pay more attention to marketing on walled-garden environments and think about revitalizing contextual advertising.
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