The growing complexity of digital ad targeting
As the business world struggles to understand the implications of the changing news of third-party cookie bans, digital ad targeting becomes more complex than ever. Google recently announced an extension of the ban on third-party cookies, but the complexity and uncertainty remains.
While social media was perhaps the best tool for creating a level playing field, the impending death of the cookie, the iOS 14 update, and the growing complexity of ad targeting could make the cost of marketing and the lack of marketing grow. given the nail in the coffin for many.
We see four key factors that will determine whether a business can adapt to this new world of data.
1. Data incentive
Businesses that can implement both online and offline strategies for first party data collection will benefit. For example, in-store QR codes and the conversational chatbot can be used by businesses to persuade customers to give out crucial information.
first-party data that can be leveraged for targeted marketing and audience building.
The most successful incentive programs generally deliver tangible value to consumers. These include rewards / loyalty programs, free shipping, exclusive discounts or free gifts with purchase. Other gamification techniques that make the data collection process easy and fun can also be successful in creating value for customers to share their data. Data collection will be important not only for B2C businesses, but also for B2B, with new digital marketing opportunities spanning all segments.
2. Brand creation
When businesses invest in brand building, they start the relationship process without even communicating directly with potential customers. As targeting becomes more complex, branding and public relations will be what allows businesses to be sought after, without having to hard sell to cold prospects. The brand can be built using podcasting, new video strategies, and leveraging the media to deliver relevant news.
Social media remains a key area for businesses to develop both brand awareness and intent by authentically reflecting brand value. When developing brand building techniques, it all starts with the customer. Answer these key questions:
Who is your client? What is important to them? How do you align with their needs?
3. Customer and community relationship management
The death of the cookie will significantly increase customer acquisition costs. This means that customer retention, social proof, reviews, and referrals will be key to lowering costs while ensuring a continuous flow of leads. Building the community will be key to nurturing your biggest fans and attracting new ones. Lifetime value will become even more important as brands look for ways to retain customers and build referral networks.
Customer surveys are a great way to keep track of how your customers are feeling and what will guide their future purchases. Email marketing remains an underused communication channel for many businesses. Email automation platforms such as Klaviyo for ecommerce and Mailchimp for just about everything else have improved dramatically, allowing businesses to define models and trigger responses to increase employee engagement. customers, sell products and introduce new programs.
Read more: HubSpot’s Roadmap to Building Community Through Content
4. Own your data: identity resolution and behavior-based engagement
One obstacle, among many, in a future without cookies is the difficulty for marketers to collect data. Marketing platforms such as Google and Facebook have all the information available to target and convert leads into
customers. Businesses will depend on whatever these platforms provide them. However, the impending death of the cookie has given rise to new and better innovative solutions for business growth; it is now possible to own and
Monitor their data and targeting capabilities through identity resolution and behavioral tracking.
Download Corporate Identity Resolution Platforms: A Guide to Marketing
The new technology is able not only to replace the lost information of cookies, but also to expand it considerably. Knowing who is accessing your website, where they are from, and their ongoing digital behavior presents all kinds of
opportunities for personalization in a world where most brands are reduced to impersonal tools and tactics.
Startups like iintent.io allow brands to bring first-party data into “Big Four” advertising platforms to independently dictate their own targeting and audiences. The result is a drastic reduction in customer acquisition costs,
higher conversion rates through personalization of the entire customer experience; and increased opportunities to connect with audiences across multiple channels. When cookies fail, identity and behavior prevail.
As businesses struggle to adapt to the increasing complexity of data and ad targeting, there is light at the end of the tunnel. By leveraging a combination of brand building, data incentive, customer relationship management, and identity resolution, businesses can not only weather the storm, but also begin to build the roadmap. to thrive in the growing digital landscape.