The average US consumer is more aware of data privacy and security than ever before. Did you know that more than 8 in 10 US consumers are likely to support federal regulation of data privacy?
Those are the findings from a recent eMarketer report. In the ever-evolving world of digital marketing, the imminent changes to third-party cookie policies are sending ripples across the industry. As we stand on the brink of a new era, where cookies are slated to take a backseat, it’s essential for marketers to understand the importance of identity resolution and adapt their strategies accordingly.
Image via eMarketer https://www.emarketer.com/
eMarketer surveyed the industry to see which tactics and strategies marketers are embracing to combat the disappearance of cookies and embrace data protection and privacy.
Data Axle has always prioritized data privacy and security. Our foundation lies in offline-based Personally Identifiable Information (PII), ensuring a robust and privacy-centric approach to customer data. As the industry pivots away from cookies, companies need to commit to safeguarding user information and collecting data ethically.
To thrive in the post-cookie landscape, companies need to proactively embrace new targeting solutions, including UID2, RampID, and contextual targeting. However, approach this transition with caution, recognizing the importance of not putting all our eggs in one basket. Our strategy involves a diversified approach, allowing us to adapt to the evolving marketing ecosystem while minimizing risks.
While the industry speculates about the deprecation of cookies, it’s crucial to note that our data infrastructure supports first-party cookies. This means our clients can continue to leverage the power of personalized marketing while maintaining user privacy and consent.
There’s been much speculation about Google’s plan to deprecate cookies, with suggestions that 1% will be gone in the first six months of 2024. Subsequently, a potential 60-day purge is slated to take place as the EU evaluates the implications. The remaining 99% of cookies are expected to vanish by the end of the year. Which is hard to imagine, but also why you need to ensure you are prepared.
More companies are turning to generative AI and machine learning and these tools will certainly be helpful as we adjust to our new normal. From targeting to attribution and strategy, AI will play a key role. However, companies need to ensure that their AI is drawing from a clean data foundation. AI is only as effective as the data it’s based on. So don’t skimp on any of the above steps.
In this era of uncertainty, we are advising marketers to adopt a watchful stance. We recognize the need to wait and observe how the landscape transforms as various players implement their strategies. By refraining from hasty decisions, we aim to align ourselves with the solutions that withstand scrutiny and prove effective in the long run.
The future of digital marketing may seem uncertain with the impending changes to cookie policies. However, we see this as an opportunity to redefine our strategies, fortify our commitment to privacy, and navigate the post-cookie landscape with resilience. By embracing diverse targeting solutions, supporting first-party cookies, and waiting for the dust to settle, we position ourselves at the forefront of a new era in digital marketing.
As the industry undergoes transformation, Data Axle remains dedicated to empowering our clients with innovative, effective, and privacy-conscious marketing solutions.
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As Content Marketing Manager, Natasia is responsible for helping strategize, produce and execute Data Axle's content. With a passion for writing and an enthusiasm for data management and technology, Natasia creates content that is designed to deliver nuggets of wisdom to help brands and individuals elevate their data governance policies. A native New Yorker, when Natasia is not at work she can be found enjoying New York’s food scene, at one of NYC’s many museums, or at one of the city’s many parks with her two teacup yorkies.