Third-party cookies were not always reliable
Ad blockers, browser sharing with other family members or even clearing your cache have all been factors that compromise the effectiveness of third-party cookies over time. Studies are inconclusive about the added value of advertisements using third-party cookies. A research paper published by the University of British Columbia in 2016 found that, under the right circumstances, users are 2.7% more likely to make a purchase when ads use tracking cookies.
Now is the time to invest in first-party data
It’s time to refocus on the customer experience, and more and more companies are increasing their spending on first-party data usage in response to the disappearance of third-party cookies. Delivering a personalized digital experience at scale can help brands attract and retain customers.
Customer data platforms are at the heart of systems
CDPs (Customer Data Platforms) have become an essential tool in today’s comprehensive marketing technology. By helping brands gain a unified view of their customers by centralizing different data sources, it enables marketers to deliver the right interaction at the right time, at the right place, and in the right context. They are used to improve online sales, improve cross-channel marketing efforts, and determine ROI for various campaigns.
Retargeting is the key
By way of highly personal information posted on their website, or sent by email or SMS, retargeting allows marketers to subtly push prospects and customers into action.
Real-time personalization as a priority
The use of CDP opens up increasing possibilities to improve the customer experience through rich customization. “Machine learning” is a way to create attributes for each user, such as customer lifetime value (or CLV), customer acquisition cost (or CAC, customer cost acquisition cost), degree of appetite and risk of attrition. These can then be used to customize communication and customer support to a high degree.
The validated customer is the king
An enterprise content management system (or CMS) helps create content tailored to target audiences. In addition to offering different content on a reference site, marketers can simply post super-personalized pages for authenticated users.
There is no miracle recipe for encouraging customers to authenticate, but some good practice such as registering to be able to participate in web conferences with experts in a sector or downloading a technical document? With an initial registration, marketers can begin to get to know them and determine what they are looking for at each stage of the buying journey. For example, a brand can help its customers manage after-sales warranties or offer a promotion after watching a video. Marketers can also send a promotional email to users who have recently sold items in their cart, to encourage them to buy.
The end of third-party cookies isn’t bad news for marketers. It heralds a new era of advertising, which will take data into account in a direct, smarter, and more personalized way.
Tribune by Laurent Queulvée, Vice President, Europe, Digital Experience at OpenText.