How Marketers Can Still Utilize Data-Informed Advertising Strategies
Third-party cookies are bits of information stored on a website visitor’s computer by a third-party (not the one the user is visiting at the time). They collect and store the website visitor’s information such as browser data. The “cookies” are often used to monitor or track user activity online for behavior (re-)targeting.
The cookie demise creates a challenge for marketers who have relied heavily on third-party data to inform their strategies and they’ve been preparing for its deprecation ever since Apple and Google announced a plan to phase out third-party tracking cookies in 2020. This hasn’t yet been brought to bear as there have been several delays, however, there’s no need to panic as not all cookies are being eliminated, and there are alternatives when it comes to utilizing data for targeted and tailored advertising.
More than ever, brands are focusing on building strong internal foundations for acquiring new customers by using their first-party data. There are multitudes of different types of first-party data sets, and it is critical for brands to understand theirs to have marketing success. For example, first-party data can provide valuable information, such as how visitors interact with a brand’s website. However, combining first- and third-party data is ideal to help advertisers understand and narrow in on how to best reach consumers. Although internet browsers like Safari, Firefox, and (soon to be) Google Chrome have blocked third-party tracking cookies, marketers do have alternative third-party data options that help drive data-informed marketing strategies.
Data-Driven Advertising Solutions
Marketing strategies that depend on information collected from third-party tracking cookies to run online ads will have to adjust and adapt. One advertising option is to run ads on platforms that allow you to segment target audiences by certain audience interests and traits, demographic, and geographic characteristics.
Another option is to consider utilizing longer-form premium video content. In a recent interview, Effectv’s Head of Sales Development, Dawn Lee Williamson, explains that this format has almost 2X more engagement than digital video content on a mobile device. Ideally, the combination of linear and streaming can help achieve the greatest results. Finding a partner that can help integrate first- and third-party data to provide audience insights and advanced targeting solutions will be the key to a successful multiscreen campaign. From foodies to car shoppers to sports enthusiasts, brands can get their message in front of the right audience at the right time with this approach (and do it at scale).
What this means for advertisers: By using alternative third-party targeting capabilities, in combination with robust first-party data, advertisers can easily find and reach unique audience segments. This will help enhance brand and ad exposure, and drive campaign success.
Audience Focused Campaigns
The marketing ecosystem is evolving well beyond the elimination of third-party cookies on popular internet browsers. Marketers are taking this opportunity to re-invigorate their advertising and starting to shift their strategies to focus on audiences, not platforms. More than 50% of advertisers increased their use of audience-targeted campaigns when comparing 2H 2020 to 2H 2021 according to the 2022 Comcast Advertising Report. Advertisers are noticing the benefits of focusing on audiences as a targeting strategy. As audience viewership behaviors continue to grow more complex and diversify across platforms and devices, automation and insights are critical to any advertiser’s success.
What this means for advertisers: With advanced ad solutions, marketers have options to create smarter, more effective campaigns, enabling brands to reach audiences that matter most. Marketers need not rely only on digital platforms using third-party tracking cookies.
The Importance of Comprehensive Reporting and Attribution
With performance data, advertisers can understand the direct impact of their multiscreen campaigns and prove the effects they have on business objectives by tying ad performance to ROI. Robust reporting and attribution tools should provide a holistic view of how effective campaigns are at reaching, engaging, and converting key audience segments.
Having the right tools in place will enable advertisers to make the right investment decisions, learn how their ads are performing, and where there are opportunities for improvement in their strategies.
What this means for advertisers: As marketers look to the future, it’s important to have comprehensive reporting and attribution tools in place. Doing so will help analyze and optimize important data points leading to measurable results and campaign success.
Contact us to learn about how you can run a multiscreen TV advertising campaign with Effectv.