In January 2020, Google declared the devaluation of third-party cookies. Since then, the global marketing industry has faced a challenge to get alternative solutions that can help measure and target advertising campaigns. So, the question regarding the plans of advanced marketers is yet to be answered even after 3 years. The point is, how any alternative solutions will deliver the desired results to advertisers and privacy-compliant advertising to consumers?
Here is a complete guide and best practices for marketers to scale their ads everywhere.
Open Web Is a New Opportunity
Marketers are well-known for having to be considerate of the budgets they allocate for social media platforms, especially those with all the attention and fascination for being new. These platforms have a massive appeal for marketers because they guarantee 100% availability and accessibility.
Another research shows that users spend an ample amount of time (66%) on the open web, while at the same time, only 44% of the advertising spend goes there. So, the open web has given a golden opportunity to marketers to reach the target audience. This way, advertisers will have access to new audience and a chance to support free Internet and independent journalism, which is a productive solution for all parties.
According to recent research by LiveRamp in collaboration with Censuswide, most advertisers, (72%) are planning to invest more in the open web. It shows that the future holds a great opportunity for both publishers and marketers.
New-Found Ambition of Marketers
Another research was conducted to determine how prepared marketers are to face the digital world without third-party cookies. 73% of UK marketers don’t seem ready to face the consequences after dismissing third-party cookies. At the same time, 92% of marketers believe the deadline won’t get extended this time.
As recently discussed, a significant number of users are spending their time on the open web. It helps marketers deliver their targeted ads to individuals enormously on the open web without relying on third-party cookies. So, it is a new-found ambition for marketers. Yet, many brands and companies still need to start testing and adopting new strategies and methodologies. They don’t realize that they need to take this action to effectively target consumers by keeping their privacy intact after cookies disappear.
The need of the hour is for marketers to quickly develop a robust strategy and collaborate with trusted partners to make this challenging process smoother. If marketers start moving in this direction, they will soon realize that this people-based marketing is a new way to address their concerns, including measurement, frequency capping, and many more. Finally, marketers must acknowledge that the existing solutions will work in their favor today. It will help them reach the audience and get a maximum return on their campaign investments.
Don’t Delay; It’s About Time
50% of the Internet is already cookie-less. So, marketers must not wait for Google’s next move before taking any action. The benefits of improvising today and using alternative methods are visible, so marketers must change the direction to get along with the changes before it gets too late.
Marketers who are considering the accessibility and availability of the organizations must also focus on other areas which need their attention. They must consider the intervention between performance, personalization, and privacy. While brands understand consumers’ privacy concerns, they must also acknowledge the power of relevant, personalized, and targeted ads.
Marketers now have different solutions to reduce third-party cookies’ impact on marketing. Regardless of the solution they choose from the vast stack they have gathered, first-party data will play a critical role.
Finally, there is a massive discrepancy between the time the audience spends on Walled Gardens and the marketers’ investments there. New opportunities of the open web still exist. At the same time, many new accessible media channels are coming to light, like Digital Audio, Connected TV, Out-Of-Home (Ooh) Advertising, and more.
So, research shows that marketers still have to put together their marketing strategies incorporating privacy, longevity, accessibility, and other critical aspects. If you are among those marketers who wish to stay relevant and maintain a good bond with their audiences, you must start preparing for the cookie-less future of the digital world. This way, you can develop a much-needed first-party relationship with your user base while supporting the survival of the free web.
