I am a firm believer that our destiny is in our own hands.
A robust, first-party data strategy can alleviate many issues. And we take back control by extracting, manipulating, and exploiting data that’s in our own domain and use the resulting insights that all gleans to our and our advertisers’ advantage.
However, research by Lotame, a data solutions provider looking “beyond the cookie” and the future of advertising, examined how organisations are beginning to plan for the phaseout of third-party cookies. They surveyed hundreds senior decision-makers in digital media and marketing in Australia and found there is a belief the cookie deprecation will hurt revenue:
- 53% of marketers say the loss of cookies will reduce ad-targeting opportunities.
- 61% expect a 10% to 25% drop of revenue as a result.
- 68% of publishers anticipate having to reduce their workforce due to revenue loss brought on by third-party cookie deprecation.
Luke Dickens, managing director at Lotame, said: “Digital advertising is changing. Addressability and connectivity are at greatest threat in the post-cookie world … (there is a need to) future proof a business’s ability to connect with consumers in meaningful and respectful ways.”
Never a truer statement. Meaningful and respectful ways. Contextual, personalised, and careful targeting linked with privacy and trust will be the order of the day. I believe a robust, first-party data strategy can solve many of the issues we will face.
But if the research above shows us anything, it’s that, in certain quarters at least, there may be a period where uncertainty and readjustment may lead to lost revenues at first.
Being forewarned is being forearmed?
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