Emptying out the cookie jar: Challenges and opportunities for marketers
As brands and marketers start to address what they’re going to do in this cookie-less future, many are starting to build first-party relationships and incentivise direct engagement.
The IAB is promoting the idea of a consumer value exchange. In their recent IAB 2021 Outlook report, IAB questioned “Are we operating in a way that provides a clear value exchange to consumers, in the long term?”
Scott Cunningham, Founder, IAB Tech Lab explains when marketers are moving away from cookies aka third-party data they have to move somewhere, that somewhere is first-party data
“Everybody else in the middle of that is an intermediary, from the big agency holding companies to supply-side tech platforms to data management platforms. These are all intermediaries without a relationship to an end consumer.
“Those entities, brand marketers and publishers that have first-party relationships, over the next two years, need to be able to leverage any element of advertising transaction, whether it’s through programmatic channels, automated channels, private marketplaces, direct type deals,” Scott explains.
Car manufacturer Renault is also moving away from third party data. The company is looking at what consumer data they have internally and also exploring second-party data relationships.
Richard says, “Many other marketers, including the analysts, are promoting zero party data as a sensible strategy, given the need to balance privacy and personalization. This is data that a consumer willingly gives a brand in return for getting better, personalized products, content or services.”
