I foresee a continued shift toward cookieless strategies and a greater emphasis on leveraging first-party data. As cookies continue to phase out and consumer privacy becomes a top priority, advertisers and agencies will need to find new ways to target and measure their campaigns.
This will lead to increased adoption of AI and machine learning technology and a focus on contextual advertising and social channels. Additionally, there may be a greater intersection of cloud computing and AI technology to improve real-time optimization and audience targeting.
Overall, the industry will likely be heavily invested in finding trustworthy, reliable, and validated solutions for the cookieless world.
What strategies should brands and/or advertising technology companies implement now to succeed in 2024?
To succeed in 2024, brands should prioritize collecting, cleansing and enriching first-party data from all touchpoints, invest in cloud-based infrastructure for effective data management, and invest in cookieless strategies such as contextual targeting, universal IDs, and social activation through MAIDS/HEMs.
It is also crucial to adopt an omnichannel approach, leveraging different technologies and media to hedge against cookie deprecation.
Additionally, preparing for the future of measurement in a cookieless environment and prioritizing a full-funnel + omnichannel approach will be key in staying ahead of the competition. Given recent and forthcoming legislative changes in major markets such as the US (specific states) and Australia, brands should also focus on collecting first-party consent-based data, optimizing content for mobile, and investing in quality data to ensure success in the cookieless future.
Finally, there should be a shift towards less -intrusive and more entertaining ads to reduce ad blocking and engage consumers effectively.