Digital Marketers have been using cookies to track website traffic, logins, shopping carts, and more.
However, cookies, these tiny text files containing limited amounts of data, have come under fire recently. Google has announced the discontinuation of third-party cookies in its Chrome browser. Numerous digital marketers have expressed concern about the same message.
To clarify, Google does not intend to replace third-party cookies with new individual user tracking, nor does it intend to discontinue support for third-party cookies. Marketers have been utilizing cookies for performance and effectiveness purposes for years. However, when Google revealed its intention to phase out third-party cookies from the Chrome browser, many were taken aback.
The two primary reasons for this step are privacy protection and anonymity. Its goal is to generate revenue for marketers and advertisers while safeguarding their customers’ data.
While Google Chrome is not the first browser to abandon the third-party cookie system, it is the most influential, as it controls more than 56% of the online browser market and more than half of all global traffic.
The fundamentals you can anticipate
This critical issue has been met with hostility by marketers, ad tech companies, and agencies. Top executives and vice presidents responded spontaneously in a variety of ways. However, the real question is whether marketers should be terrified of anything.
The truth is that Google Chrome’s privacy measures have the potential to make a huge impact on the world of marketing. To be clear, no one would be familiar with a third-party cookie scheme. There will be no personalization or monetization of web sites’ advertisements. This will result in the upheaval of an entire marketing and advertising ecosystem.
While the absolute truth is right in front of you, there is always a silver lining to every cloud. To be sure, we’re referring to a shift—a substantial movement in the consumer market. You can envision the dramatic changes that will occur in the future, and the only way to prepare is to “embrace change.”
Markets evolve at a faster rate than marketing. All we can do is redefine ourselves and unite as a consumer brand. This pivot assists you in adjusting. Finally, you can devise fresh alternatives and negotiate this transition.
The reality of the cookie crumble
Here are a few facts about the cookie update that marketers should be aware of:
Marketers are convinced that Google is discontinuing its investment in tracking applications. However, it will pursue other avenues. Google has already taken the first step with the launch of its new Privacy Sandbox, a collection of technologies that track groups of people rather than individual users.
Not all cookies are prohibited. If you believe that all of your cookie-related marketing activities are in vain, you are mistaken. Google’s statement surrounding the topic was mostly focused on first-party relationships. This means that any first-party data obtained through your website remains independent. You can track the data of your website users without relying on third-party cookies.
It will pave the way for numerous new avenues of innovation in the marketing and advertising worlds. Many marketing professionals have been taken aback by the revelation of cookie disintegration. Nonetheless, we cannot ignore the fact that developing alternative tools, especially in times of scarcity, is akin to unlocking the marketing code. As a marketer, we are responsible for developing novel advertisements, pop-ups, and other creative methods of gaining traction. This new cookie challenge will assist us in effectively exercising our creative muscles in our brand. Briefly, the time has come for innovation, creation, and expansion.
Marketers are more concerned with the reason for the phase-out than with the elimination of third-party cookies. The reason for this is that by using Google Chrome’s first-party cookies, you will be able to fully utilize Google’s advertising functionality. Additionally, you can use technologies such as the Privacy Sandbox. This will be capable of taking a significant hit without the assistance of Chrome.
How to Prepare for the Apocalypse of the Cookie
While we may not have the answers to all the questions, this transition could be significant in the advertising sector. We do know that a dramatic change in the direction of the wave is imminent. Yes, it is difficult but possible to fine-tune and tweak a few tactics.
Because you are actively seeking sensible answers. Here are five strategies for preparing and staying ahead of your competitors during this mayhem:
Invest in a data-first strategy
In a cookie-free world, the key is to organize your first-party data. As previously stated, first-party data is like a gem that you can hide from your audience. Your audience will regard you favorably because of this gesture. While many organizations are currently pursuing this goal, it is critical to find new and innovative methods to invest in a first-data strategy.
You can acquire GDPR-compliant data for the purpose of audience targeting without relying on a third party. Additionally, it assists you in generating new revenue streams through the usage of segmented user data. For this reason, platforms like CRMs, C.D.P.s (customer data platforms), and billing systems are optimal.
According to recent eMarketer statistics, 85 percent of US marketers rank enhancing their first-party data usage as a top priority.
Developing your audience is a never-ending process.
People expect brands and businesses to take a more proactive role in protecting their privacy and data. Begin by establishing trust and credibility with your audience. You can begin gathering only the information that is necessary and disregard the rest.
As we all know, there has been a significant shift toward marketing automation in recent years, with statistics indicating that 92 percent of marketing investments are going toward automation. This enables businesses to better understand their customers and serve them with the most relevant media, and this trend is not going away. You may create audiences and assure audience enrichment with DMPs (data management platforms). You may start from nothing with the power of content and media activity.
There is no one-size-fits-all formula for establishing a dedicated audience. All you need to do is re-evaluate your approach and manage, integrate, and analyze consumer data. Finally, it can be associated with a single identifier, such as a basic email, for simplicity.
Maintain as much transparency as possible.
In an age of diluted material, differentiate yourself by being upfront with your customers. You may overcome obstacles by being candid with your audience. Look behind the scenes. Additionally, you can share the data you manage with them to foster trust and reliability.
This strengthens the bond between your brand and its audience.
For instance, look at Evian’s pop-up cookie banners and the way they transparently modify cookie options. By being truthful, they provide comfort to their customers.
Access your technical side from a different vantage point
It is critical to gain an understanding of how collected data might affect your innovative marketing initiatives.
The effect of cookie depreciation can assist you in navigating a variety of technological solutions. Even across many platforms such as Facebook and Google, it enables you to generate the latest ideas.
As you would imagine, Google and Facebook have no intention of limiting their future revenue prospects because of this new cookie change. If you are experimenting with numerous technological solutions, the connectivity test will be more demanding, but possible.
To protect your brand from legal ramifications, return to essential strategies. Utilize hyper-targeted advertisements, pay-per-click advertisements, and research ways to reach your audience without using cookies.
Place a premium on the customer experience
We are entering a private environment in which the needs and satisfaction of the customer are important. From obtaining consent to developing new strategies, it is critical to keep client experience at the forefront of your thoughts.
Customer experience plays a unique role in brand leveraging. It can assist you in assessing your target audience and defining various touchpoints.
All brands and businesses strive to be the best in terms of client happiness. Regardless of how well-received your new strategies are. Nonetheless, it is critical to create a scalable environment that meets your customer’s needs and matches content with the consumer’s goals.
Briefly, avoid clickbait conventions, articles, and any other type of content.
The future quest for a more consumer-friendly ecology may prove extremely difficult. As marketers, we are constantly on the lookout for great return on investment, and the natural method to accomplish this is to maintain a healthy relationship with our audience.
Trust and reliability are invincible forces that can overcome any obstacle, both for brands and consumers. As a result, an ecosystem will be created that benefits everyone — consumers, marketers, and advertisers.
Businesses have already begun preparing for and learning the new game rules to break them later.
The question now is whether you are prepared to make a complete 180 in your digital marketing strategy.