For years, our industry has been talking about finding trustworthy, reliable, and validated solutions for a cookieless world. Tremendous progress has been made, and the network of solutions that is now available will be capable of helping brands and agencies continue to target and measure their campaigns across channels. However, that doesn’t mean marketers have had the time and space to test, learn, and implement at the level needed to seamlessly bridge the gap.
Google’s 2024 deprecation of third-party cookies will hit some organizations harder than others. On the brand and agency side, we’ll see a reshuffling in market leadership. Those that have spent the past couple of years collecting and cleansing first-party data from all touchpoints, investing in cloud-based infrastructure for effective data management, and embracing cookieless strategies such as contextual targeting and universal IDs will blow past their competitors while they race to catch up. On the ad tech and data side, we’ll see a similar reshuffling, not unlike what we witnessed in a post-GDPR reality in Europe. As Kristina Prokop, co-founder of Eyeota and general manager of audience solutions at Dun & Bradstreet, recently told Digiday, those companies that have prepared will be able to cope with transitional hiccups, while others flounder and, in some cases, remove themselves from the playing field altogether.
That said, marketers feeling unprepared for the cookieless future shouldn’t despair. Now is a time for action. As the deprecation of third-party cookies in Chrome looms on the horizon, brands and agencies must proactively adapt to navigate the evolving digital landscape. First and foremost, a crucial step is to prioritize the cultivation of first-party data. Brands should incentivize users to willingly share information by providing personalized and valuable experiences. This may involve optimizing website interactions, leveraging engaging content, and implementing transparent data collection practices. By fostering direct relationships with consumers and obtaining explicit consent, brands can build a robust foundation of first-party data that will be instrumental in maintaining targeted advertising capabilities post-cookie deprecation.
Collaboration between brands and agencies, with the help of their data partners, becomes pivotal in this transitional phase. Agencies should work closely with their brand partners to explore and implement alternative tracking and targeting methods. Exploring advanced technologies like AI and machine learning can be instrumental in developing effective audience segmentation strategies without relying on third-party cookies. Additionally, investment in contextual advertising, which focuses on the content and context of a webpage rather than individual user behavior, can offer a privacy-compliant alternative for targeting relevant audiences. Establishing a clear and open line of communication between brands and agencies is key to navigating these changes successfully, fostering a collaborative approach to address emerging challenges.
Lastly, staying informed and adaptable is paramount. The digital landscape is dynamic, and solutions that work today may need adjustments tomorrow. Brands and agencies should stay abreast of industry developments, regulatory changes, and emerging technologies that offer privacy-conscious alternatives. This involves participating in industry discussions, attending conferences, and actively engaging with evolving best practices. A commitment to continuous learning and agility will position brands and agencies to not only weather the transition away from third-party cookies but also to thrive in the evolving digital marketing ecosystem.
It's been a challenging few years for the data-driven marketing space, and 2024 will still offer its share of curveballs. But the collective work that’s gone into cookieless solutions will also begin to coalesce in a way that will pave a smoother road for brands, agencies, and partners alike. As an industry, we must continue to press forward—together.
If you want to ensure your data-driven marketing strategy is ready to greet the challenges and opportunities of 2024, Eyeota is here to help. Connect with Eyeota’s Data Desk team today!