The effects of 3rd-party cookie deprecation
- Part 1The rise of data collaboration
- Part 2 The effects of 3rd-party cookie deprecation
Show Notes
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02:33Implications of third party cookie deprecationThe deprecation of third-party cookies will lead to decreased access to complete user profiles. This shift will make it harder for brands to deliver personalized advertising and messaging at the right time to connect with their target audience.
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03:44Industry vulnerability to third party cookie deprecationIndustries with long sales cycles, such as automotive, may struggle to maintain customer information over time. Conversely, industries with shorter sales cycles and readily available first-party data, such as eCommerce, are better positioned to adapt to the changes.
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05:54Evolution of customer data collection strategiesIn response to changing data privacy regulations and the decline of third-party cookies, smart brands are prioritizing value exchanges with customers to encourage data sharing. Brands can leverage panel or survey-based approaches to gather first-party data that represents their customer.
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08:09Leveraging data partnerships for enhanced insightsData partnerships serve as a valuable complement to first-party data, enriching understanding of consumer behavior and buying propensity beyond internal datasets. Using AI and lookalike modeling, facilitated by platforms like Lotame, enables brands to scale their advertising efforts effectively.
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09:20The importance of data diversity in AI driven modelingAI-driven gap-filling relies on the availability and diversity of data to generate accurate insights. For lookalike modeling, partnering with data providers who possess diverse and consented datasets is crucial for effective prospecting and accurate modeling of new customer profiles.
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10:19The impact of third party cookie depreciation on marketingThe deprecation of third-party cookies is anticipated to lead to diverse solutions. A portfolio approach will be crucial including, modern contextual activation, reliance on walled gardens, and universal IDs to maintain cross-platform connectivity.
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11:50Data collaboration partnerships and competitive dynamicsData collaboration is primarily driven by a shift towards improved marketing practices rather than partnerships among competitors. Reputable players will be elevated and there will be opportunities for marketing leaders who lean into alternatives to excel.
Quotes
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"Research indicates that consumers want a personalized experience. The scary thing that lies ahead of us is, there's a lack of understanding and true appreciation of what personalized advertising offers in exchange for free content." - Alexandra Theriault
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"Smart brands are going to focus on a better value exchange between themselves and the end customer, giving consumers a reason to provide their personal information." - Alexandra Theriault
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"A huge growth opportunity for first-party data is the use of AI and look-alike modeling. A majority of brands will be relying on lookalike modeling to create the scale that fuels their advertising campaigns." - Alexandra Theriault
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"Making sure that the data partners you've selected to work with have enough diverse data and consented data is critical to fueling the prospecting strategy and executing accurate look-alike modeling." - Alexandra Theriault
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"There will be a portfolio approach ranging from modern contextual activation to the walled gardens. We also believe in the universal IDs that are bringing forth a way to maintain connectivity across platforms." - Alexandra Theriault
- Part 1The rise of data collaboration
- Part 2 The effects of 3rd-party cookie deprecation
Up Next:
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Part 1The rise of data collaboration
Alexandra Theriault, Chief Growth Officer at Lotame, delves into navigating the evolving data landscape. With third-party cookies disappearing, many new players are emerging with solutions for data collaboration. Now that companies must lean more heavily on their first-party data, players like Lotame are helping them join data sets in secure environments to gain richer customer insights for innovation and optimize marketing campaigns for success. Today, Alexandra discusses the rise of data collaboration.
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Part 2The effects of 3rd-party cookie deprecation
Alexandra Theriault, Chief Growth Officer at Lotame, delves into navigating the evolving data landscape. For years, third-party cookies have tracked users across websites, allowing advertisers to target them with laser precision. However, with growing concerns about user privacy, third-party cookies are going away, and marketers will need to rely on alternative solutions to reach existing and new customers and measure campaign effectiveness. Today, Alexandra discusses the effects of third-party cookie deprecation.
