If you're in digital advertising, you've probably heard that Google has just announced a further delay in removing third-party cookies from chrome till the latter half of 2024. This means we can enjoy another year of rich data, and use the time to prepare for what's coming.
In it's efforts to improve people's privacy on its platforms Google originally planned to remove 3rd party cookies from Chrome in 2022 and delayed it to late 2023 before the latest announcement that this is postponed to 2024.
Why the delay?
The short answer is, Google are still workshopping and refining their business solutions to prepare for the loss of cookie data. In their announcement, Google explains that a longer testing period is required for their Privacy Sandbox initiative to build a sustainable and effective alternative to cookie-based marketing.
So what can you do with this extra time?
Advertisers should use this time to prepare for the inevitable. Here are some key actions you should be taking in the next 3-6 months,
Google is the industry leader is identifying alternate solutions for a cookieless world. It would make sense for us to keep updated about their Privacy Sandbox initiative.
Advertisers need to prepare ways to record and segment 1st party data. This is the most powerful data source that you have as an advertiser.
Familiarise yourself with contextual targeting. Some might say it is archaic, but studies have shown that the contextually relevant ads lead to higher resonance and conversions.
Look at broader attribution modelling tools such as Marketing Mix Modelling to understand the overall impact that your marketing efforts have on sales and revenue.
Think outside the box with digital media. Yes, it is meant to be the supertool for hyper-targeted ads, but there is more to marketing than just running targeted ads. Think referral marketing, user generated content, events, contests, affiliate marketing etc.
Permission marketing has become paramount in the age of data privacy. For the marketer who is keen on evolving their approach, Seth Godin's 'Permission Marketing' book is a must-read. His book reminds us that behind every click is an actual person, and by building a good relationship with our audiences and customers, we can unlock great business potential.
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