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The countdown to 2023 has officially begun, the highly anticipated date for Google to consume a third-party cookie. As the industry approaches this date, advertisers should start exploring solutions that help them navigate this new reality today. Additionally, those who build a viable first-party data strategy and begin testing a modified suite of AI-powered solutions will gain a significant competitive advantage in 2022.
This was one of the main predictions at the Predicting the Drums Festival 2022, according to experts from Quantcast, Future and M/Six — who have all accepted a collective responsibility to contribute the best results to brands as Google prepares to remove the cookie.
However, the world without third party cookies has already been with us for several years now; Apple Safari began blocking it in 2017, followed by rival Firefox in 2019. Ben Murphy, managing director of Quantcast UK, argued that it puts advertisers in a position of relative strength:
“I think this is a great opportunity for the industry now to build a better privacy - approach The first that provides effective results for advertisers, while respecting the privacy of consumers.”
We're not starting from scratch either. It's something companies have been monitoring for many years, because there are already cookie-free environments out there.
Stacy Perry, Digital Director at M/Six, based this idea on this idea, noting that the agency and its clients have been working for some time on solutions that bypass third-party cookies:
“We don’t think the end of cookies means the end of targeted advertising. In fact, on the contrary. We really think it’s an excellent opportunity to make significant use of data. Solutions for both will now help build closer relationships with customers.”
To create a successful data strategy, it must take into account “the entire data lifecycle; management and storage of consent and approval, direct for activation and measurement,” Murphy strains. He described how Quantcast has worked in the past 18 months to create first-party platforms for advertisers that allow them to post targeted ads.
Stacy Berry, Digital Director of M/Six, builds on this idea, which notes that the agency and its clients have been working for some time now on solutions that go beyond third-party cookies:
“We don't think the end of cookies means the end of targeted advertising. In The reality is, on the contrary. We think it really is a great opportunity to take advantage of data in a new and meaningful way. The solutions that are coming to the fore now will help build close relationships with customers.”
To build a successful first-party data strategy, Murphy said, it must take into account “the entire data lifecycle; from management and storage to collection and approval, through activation and measurement.” Describes how Quantcast has worked in the past 18 months to create first-party platforms for advertisers that allow them to carry out specific advertising.
This approach comes with a sense of responsibility. Nick Flood, director of ad product operations and global revenue at Future, emphasized the importance of advertisers and publishers having consumer consent to use data:
“It really puts those companies that start collecting consent and permissions in a really strong point of advantage, because you are in the relationship with the client.
That, in our case, hundreds of millions of customers per month come to our property, we control that relationship, and then we downplay the way we want to revitalize it."
The discussion was then moved to the realm of AI-powered solutions that can help predict and define the behavior of people online. “With the rejection of third-party cookies, if you don't have AI, or if you don't use AI, you're going to really go, and really struggle to work in digital marketing. And with that, you can really start embracing it,” Murphy said.
Berry developed this theme by bringing up the point at which brands can use artificial intelligence and machine learning to improve understanding of customers and fill in the gaps in their data sets, ultimately resulting in richer contextual advertising.
Then, Flood explained, why it's so important for advertisers to immediately explore cookie opportunities:
"I think marketing soon realizes they have to have conversations with tech companies, agencies, editors, better. They'll be ready to make sure they can. Spending continued, Because the last thing I think we all want is for marketers to take down ad dollars and send their conversions off the cliff.”
So, where does this come from the marks as they prepare to navigate 2022?
Murphy concluded:
"Those who are trying cookies environments with us now are harvesting competitive advantages: advertisers who are reaching new audiences and more of the audience. Early enters, you are also reaping a competitive advantage, so we would massively encourage advertisers to start trying. "
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