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Wednesday, April 27, 2022

Retailers in a Cookieless World

 Have received several inquiries up this alley.

Will retailers be ready when the third-party cookies crumble?

@lelia_milaya via Twenty20


Apr 13, 2022  by Tom Ryan

Eighty-one percent of companies are reliant on third-party cookies while 85 percent of consumers want brands to use only first-party data, according to Twilio’s “State of Customer Engagement Report.”

The global survey of 3,450 business leaders and 4,500 consumers further found that more than half (55 percent) of companies are not fully prepared for a cookieless world. Forty-two percent predict the impending changes will lead to lower return on investment on their marketing spend.

Google plans to start blocking cookies in Chrome, the dominant browser, by the end of 2023. Firefox and Safari are already doing so.

In a new study, McKinsey identified three strategies that can help companies prepare for the impending demise of third-party cookies as well as new opt-in requirements that restrict mobile-device identifiers for ad targeting.

Use their own consumer touchpoints to collect first-party data;

Create partnerships to leverage second-party data;

Experiment with contextual advertising, which displays ads based on the content a user is viewing, and explore the evolution of interest-based advertising, which targets consumers based on their recent top categories of interest.

McKinsey added, “Advertisers will also need to rethink how they approach measurement and attribution — the process of assessing the contribution of the advertising channels that lead customers to their website or app — given that Google’s cookie ban, Apple’s app-tracking-transparency policy, and evolving privacy-protection regulation will render some existing measurement and attribution methods obsolete.”

Capgemini wrote in a recent blog entry, “Solutions that help marketers to strengthen first party data, match and analyze first party data from any source, and expand overlaps for greater accuracy and scale while being agnostic of cloud and identity provider will empower data enrichment and identity resolution.”  ....' 

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