Here’s your short 4 Step guide to thriving in the Post-Cookie World
The digital advertising landscape is evolving, and marketers need to adapt to survive in a cookieless world. With the phasing out of third-party cookies, ad targeting, buying, and optimization practices will be disrupted, leading to gaps in ad measurement, attribution, and optimization practices. However, there are ways to overcome this challenge and thrive in the new digital advertising landscape.
Here are 4 steps to helping you pivot your digital marketing strategy and tactics for success:
Tap into New Sources of First-Party Data: Build or join Consumer Data Ecosystems
Consumer data ecosystems are networks of businesses and organizations that collaborate on their first-party data in a secure environment. By pooling resources, marketers can gain access to a more comprehensive understanding of their customers’ behavior, preferences, and needs through their engagements with other brands.
Building a new ecosystem involves reaching out to potential partners and evaluating the value of the data partnership using a privacy-preserving data collaboration environment (Step 2).
On the other hand, joining an existing ecosystem offers a ready-made network of businesses with similar goals and customer bases.
Ensure your Ecosystem is built in a Trust-by-Design Environment: Use a Privacy-Preserving Data Collaboration Platform
To share data securely and in compliance with data privacy and protection regulations, privacy-preserving data collaboration is a technique that allows businesses to share data in a highly secure 3rd party, neutral environment without revealing any personally identifiable information.
With privacy-preserving data collaboration, consumer data is anonymized and encrypted before it’s ever shared between parties. This ensures that data breaches, loss of company IP, and non-compliance with global privacy regulations are eliminated.
A privacy-preserving data collaboration platform is the cornerstone upon which businesses can safely build trust-by-design consumer data ecosystems and tap into new sources of 1st party customer insights beyond their own businesses.
Leverage new insights from Consumer Data Ecosystems to Target Consumers Online
By leveraging new data insights from consumer data ecosystems, marketers can target customers with personalized ads, even in the absence of cookies. With a richer understanding of customer behavior, demographics, and preferences gained from shared data, marketers can serve more personalized ads and offerings online that will more likely appeal to each customer.
Use Hashed Unique Identifiers for Tracking Attribution and Campaign Success
In a cookieless world, measuring attribution can be a challenge. Privacy-preserving data collaboration environments offer a solution by enabling businesses to track marketing attribution while protecting consumer privacy. The right privacy-preserving data collaboration platforms can generate hashed unique identifiers for 1st party consumer data, which marketers can use to track their customers’ journeys across multiple touchpoints, both online and offline, giving them a more accurate understanding of how their ads are influencing customer behavior.
Hashed unique identifiers provide a way to track marketing attribution without ever revealing personally identifiable information (PII) about the consumer. These alphanumeric strings – which cannot be reverse engineered to re-identify a consumer by a 3rd party – are unique to each consumer and can be used to create audiences and retarget them online in a privacy-compliant manner.
By using hashed unique identifiers, businesses can improve their attribution and measurement capabilities, allowing them to gain a more accurate understanding of the impact of their advertising campaigns.
Strike the Balance of Consumer Data Ecosystem Benefits and Privacy
The rise of consumer data ecosystems is a game-changer for marketers in the cookieless world. By combining data from different sources, marketers can gain a comprehensive understanding of their customers and deliver personalized ads that enhance the customer experience.
Privacy-preserving data collaboration platforms can help marketers strike the right balance between the benefits of consumer data ecosystems and the need to protect customer privacy and ensure compliance with data protection regulations.
By providing a highly secure and compliant environment for sharing first-party data, the right trust-by-design data collaboration platform for your business will enable you to build or safely join consumer data ecosystems and tap into new sources of customer insights beyond your own businesses.
Ready to build or join a trust-by-design consumer data ecosystem?
More than 80 leading brands are already building trust-by-design consumer data ecosystems on Omnisient’s privacy-preserving data collaboration platform.
If you’re a marketer interested in enriching your customer understanding and improving the effectiveness of your digital marketing in a post-cookie world, contact us to help you get started.
About the author
Julian Diaz is Omnisient’s CMO. Julian is a B2B tech marketer for start-ups with over 20 years of experience marketing in USA, UK, Europe and South Africa.