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Third-party cookies are going away. But why? And what does this mean for marketers, publishers, and advertisers?
The Why
There are four main drivers pushing changes to third-party cookie tracking: consumer expectations, laws and regulations, browser changes, and ad blocking.
Consumers today genuinely care about transparency and trust from the brands with whom they spend their money. For example, 80% of audiences say they’re more likely to purchase from companies they believe protect their personal information.
Beyond this trend in customer expectations, global laws, privacy regulations and major tech companies are weighing in. The GDPR, the ePrivacy Directive, and the CCPA all specifically target the use of third-party cookies. Popular browsers, including Safari, Firefox, and Chrome, have either blocked or plan to block third-party cookies.
The removal of third-party cookies changes the game for the entire industry. Without access to key data to improve marketing or ad performance, the question is, “Where do we go from here?”
Shifting Strategy
As third-party cookies go away, businesses should shift their strategy to collect data and identify personalized preferences. This allows businesses to build trust while providing the control and personalization consumers want. But what are the steps to building this new strategy?
First, there needs to be a shift in three main areas: audience, brand, and reporting. For marketers, publishers, and advertisers alike, it’s important to think about privacy and building trust with audiences in a way that impacts the KPIs with which they’re tasked.
Next, in order to establish trust and transparency with customers moving forward, marketers, publishers, and advertisers will need to build an internal privacy strategy. This consent and preferences strategy should aim to achieve five goals: put users in control, have an opt-down strategy, show custom preferences and profile data, monitor engagement insights and analytics, and sync with marketing and IT systems.
To bring this all together, you can leverage a Trust Center to educate and provide transparency to your audience. A Trust Center serves as a way for users to freely make choices about their consent and preferences. But it’s also a strategic opportunity for brands to highlight their commitment to their users' privacy.
Additionally, publishers and advertisers can collect first-party data in Trust Centers, which helps contribute to building a user profile used to deliver personalized ads and manage consent and preferences across devices.
As third-party cookies end, the most valuable component to your work will be building trust with customers through a better understanding of what they want. Including preference management in your strategy can expand options available to customers, enhance the user experience, deliver personalization, and reduce opt-outs and unsubscribes. You can show customers you’re listening to what they want, while also respecting and protecting their privacy.
“What Comes After Third-Party Cookies?” is a new resource from OneTrust PreferenceChoice. This guide covers what marketers, publishers, and advertisers need to know about changes to third-party cookies, strategies to implement for zero-party data collection, and concrete steps to building trust and transparency with customers.
The Link LonkOctober 27, 2020 at 12:04AM
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Summary of “What Comes After Third-Party Cookies?” Guide from OneTrust PreferenceChoice - The Drum
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