Rogier van Nieuwenhuizen
It seems like barely a week goes by without a change to data privacy regulations or an update to GDPR. If you’re finding it hard to keep up on top of your responsibilities as a marketer or business leader, you’re not alone.
You’re probably aware that Firefox and Safari have already blocked third-party cookies and you may have heard that Google has announced that it will officially stop supporting third-party cookies on its Chrome browser by the end of 2023. But what does that mean for businesses that rely heavily on third-party cookies? How will they continue to track users, and harness these powerful insights to deliver relevant, personalized advertising?
We believe that first-party data is the answer to business growth in a cookieless future - and we’re in good company. In fact, research from Deloitte shows that 61% of high-growth companies are already shifting to a first-party data strategy.
Read on for a high-level overview of the current situation with customer data and to discover how to future-proof your marketing strategy to ensure commercial growth.
1. Personalization on paid media (retargeting) will be highly impacted
Third-party cookies allow us to identify the customer and provide relevant messaging to the right audience. Without external cookies, businesses will not be able to track users between websites (e.g programmatic advertising) or support a personalized chat functionality provided by a third-party partner.
2. The 360-degree customer view will become incomplete
3. Onsite personalization & web analytics will suffer
If you’re not able to identify the visitors on your website, you won’t be able to provide a personalized experience. This will be particularly important for websites with a wide variety of offerings such as airlines and retailers. Furthermore, it will have a negative impact on the performance of the website as the website will treat returning visitors as new visitors.
Here are a few practical tips for your digital marketing team:
Like all new marketing activities, this can feel like a challenge at first. But you don’t have to do it alone. Contact our team today to find out how we can help.
While the loss of third-party data might be a blow to marketers initially, it is also an opportunity to get ahead of the competition and collect data from your own assets.
Invest in marketing technology based on first-party data
Now you have a good understanding of the first-party data you can work with, the next step is to invest in a centralized, integrated, and unified platform. Up until recently, Data Management Platforms (DMP) were perfectly capable of storing, organizing, and interpreting customer data. However, since they rely mostly on second and third-party data sources, they will soon become irrelevant.
To survive in a third-party cookie-free world, companies and marketers have to adapt and make the switch to first-party data. This is where Customer Data Platforms (CDP) such as Relay42 come into play. Like your CRM, a CDP acts as a single point of truth from which to create and deliver personalized, targeted marketing campaigns, understand how people are engaging with your brand and from where - and get to grips with what is working and what isn’t.
Get in touch with our team.