Marketers are worried after Google announced that Chrome will block third-party cookies in a few years due to their impact in the marketing landscape.
While the move is not new, it commands attention in the marketing industry as Chrome holds nearly 70% of the browsers’ market share globally.
Why third-party cookies matter to marketers?
There are 3 key areas in paid media marketing that will be impacted without third-party cookies.
In the first area of display and programmatic advertisements, profiling, retargeting and attribution are impossible without third-party cookies. In the second area of social media advertisements, conversion tracking, e.g. success purchase, will not be visible in the social media platforms to allow for retargeting.
However, the impact is moderate. As these activities are usually done within the social media platform, profiling and targeting of the audience are possible.
In the last area of paid search, there is no impact. Paid search advertisements are set up based on identifying the keywords that consumers search for, and it does not utilise consumer browsing data on the internet to target.
What is next?
There are other ways to nourish the marketers’ hunger. Here are 2 approaches marketers can explore to reduce the reliance on third-party cookies.
Collect every data point
First-party data is increasingly important as third-party cookies phase out. To collect each available data point will help marketers to rely less on third-party cookies signals and utilise data that they own.
5 examples to collect first-party data:
o Set up a website and mobile app analytics
o Set up the CRM system
o Collect login users details
o Own a data management platform
o Own a customer data platform
Remember that it is crucial to follow proper governance and security around the first-party data.
Explore new ways of marketing
This method requires continuous testing to optimise the performance of the advertisement. It will give you the confidence to use these new ways when third-party cookies are removed.
3 examples of the new way of marketing:
o Reduce the marketing budget for advertisers who rely on third-party cookies
o Explore working opportunities with publishers who have first-party cookies and data
o Run advertisements based on first-party data you have collected
Let’s not forget that Google has the largest share in advertisement buys. I believe Google will eventually provide a solution around third-party cookies. Until then, the preparation will help marketers to be less reliant on the big players regardless of the final solution.
Reach out to us and we can work out a roadmap for you to be prepared for the change based on the digital data maturity of your company.