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Third-party cookies are like Cretaceous dinosaurs. Consumer data is being consumed while Google, Mozilla, Apple and others are on the verge of eliminating the current marketing ecosystem from asteroids.
Google is planning to eliminate these online monitoring tools by 2022. For its part, Apple only intends to choose the ID of its mobile device (known as the advertiser identifier or IDFA): a move that will prevent tracking of applications by visitors to the site. Their plans are just two examples of a broader focus on consumer privacy, which has also been revealed in broad privacy laws such as those in the European Union. General Data Protection Regulations and California Consumer Privacy Act.
For better or worse, the Internet has evolved based on consumer data: data collected by “third parties,” such as advertisers and marketers, to track website visitors, merchants, and other businesses, improve customer experiences, target ads, and guess what visitors see on other websites. from one site to another. When tech giants have completely banned these followers or are planning to exclude them from their browsers, how many companies are ready for a “non-cooking” future?
Preparing cookie-pocalypse
The answer, unfortunately, is not much. A recent Adobe survey found just that 37% of companies are “highly trained” for a world without third-party cookies. Many companies take a wait-and-see approach, an attitude that typically results in “last-minute and short-term fixes and fixes,” according to Amit Ahuja, vice president of Adobe Cloud product and strategy at Adobe Cloud.
But the fact that third-party cookies are about to disappear doesn’t necessarily scare you into flickering. Previously, a follower-free future allows businesses to learn how to drive change while maintaining experiences at the personalized level that customers expect, even without using third-party data. Ahuja says the time has come to strike: “The fact that 63% of organizations are not prepared for the world without cooking shows a tremendous opportunity to move to first-party data strategies to create long-term segregation.”
You repeat, you lose. Before you dive into the strategy of waking up, you might ask: Why should I care?
Consumers reasonably demand transparency in how they collect and manage their data. Who can blame them? In recent years, organizations have experienced massive data leaks, violating billions of emails and passwords. This suffering is not without consequences. Consumers are hurting companies by analyzing data in this way. According to Gartner brand survey 2019, 81% of customers refuse to support an untrustworthy company and 89% expect it to be disbanded by a breach of trust. “Consumers need to control how they use their data and brands. That’s key to gaining consumer confidence, ”Ahuja says.
But consumers still expect a high level of personalization: personalization enabled by third-party cookie data. “As consumers, we all have high expectations for personalization as we interact with brands,” says Ahuja. “Especially when they’ve moved so much into digital interactions in the last year, it’s bigger than ever.” Without third-party data, the customer experience will suffer, as will companies.
That’s why they need to take care — and be prepared, Ahuja says. The loss of third-party cookies not only allows companies to find new customers for their products or services, but also to maintain and maximize the value of existing customers.
The future without cooking
What can you do about it? First of all, keep in mind that cases of regular use of third-party cookies — for example, using data to personalize the customer experience — will not go away. Rather, they will evolve. Companies need to maximize value data from the first parties: Data collected from personal domains about customers. The first data will not disappear: only third-party cookies are disappearing, which are not the main domains opened in users’ browsers but are uploaded by third-party servers. , such as ad servers, on publishers’ websites. “Brands now need to focus their first-party data strategies on personalized customer experiences throughout the journey,” says Ahuja.
Companies will still collect data and share or buy it from trusted partners. They need to ensure that consumers ’consent is respected, and that the data is viable, meaning that companies can act on the data, in real time and on a scale, to deliver personalized experiences. And they need to continue to find new customers and maximize the value of existing ones. To do this, here is a mantra to consider: real time or bust.
Ahuja says that important personalization must happen immediately. There can be no delay from when customers buy something to stop seeing ads. They should also start receiving emails immediately after a few days. “We consider it a prerequisite for a future data strategy: to have a system capable of updating customer profiles in real time, as new actions are carried out on different channels or as different commitments have been chosen or selected. says Ahuja.
Not using third-party cookies does not have to be a cookie pocalypse. Instead it can be a catalyst: one that allows companies to take a step back and invent everything, to ask customers how they can improve their experiences. To make things even more interesting, companies will need to manage data, respect consumer privacy, and ensure compliance with regional restrictions.
Asteroids are on the way. Now is the time to catalyze.
This content was created by Insights, a custom content from the MIT Technology Review. It was not written in the editorial board of the MIT Technology Review.
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