The death of the third-party cookies is quickly becoming a reality. With Google's efforts to phase out the third-party cookie on Chrome browsers by 2024, it could significantly affect how brands track website visitors and collect data for targeted ads. Google recently announced that they won't be building "alternate identifiers" such as PII graphs based on people's email address, to track individuals as they browse across the web. This shift towards privacy will have an impact on both advertisers and consumers alike. Advertisers need to start planning for these changes now in order to stay ahead of their competition in terms
Google’s third-party cookie phase-out is quickly approaching, and with it comes a range of changes for marketers. GetApp surveyed marketers and found that:
41% believe their biggest challenge will be tracking the right data
44% predict increased spending to reach the same goals as 2022
23% are investing in email marketing software.
Google Chrome's decision to phase out third-party tracking and its rejection of ad-tracking may have some marketers and advertisers feeling anxious about their future online strategies. While some tactics, such as pinpointed audience targeting, will be impacted, other areas of marketing and advertising are likely to remain the same. To help manage the transition away from third-party cookies, here are four things businesses should keep in mind:
Understand how Google Chrome's new privacy efforts could affect your marketing tactics
Explore alternative methods for pinpointed online audience targeting
Rely on first-party data when possible
Leverage automation tools to streamline processes.
With new privacy laws creating issues for cookie-based advertising, this might be a great opportunity for skilled, innovative marketers to explore alternative solutions. Ask yourself questions like, "Are we too reliant on this technology?" or "What happens if and when our strategy gets regulated?" to help you come up with clever alternatives and ads that are non-intrusive and resonate with customers. This could lead to a more successful long-term marketing strategy.
Data management is an area ripe for innovation. By leveraging data, advertisers can now use alternative tools that track data in smarter ways than just the third-party cookie. These solutions will enable them to target relevant audiences without getting too intrusive. Advertisers will need to strategize around these new methods of tracking data, but it is worth exploring the potential for more cost-effective and customer-focused approaches.