Salesforce’s recent State of Marketing report found that digital marketing is in a state of complete transformation—particularly in terms of measurement tactics, data growth and KPIs—as a result of the pandemic. In fact, marketing departments expect a 40 percent increase in the number of data sources they use by 2022, with the most popular being from “known digital identities,” transactional data and declared interests and preferences—ultimately, sources that are tied directly to a person.
Meanwhile, marketers are preparing for a shift toward using first-party data in place of third-party cookies as a means to target online audiences. Following are six steps to ensuring that companies can not only manage these changes, but also thrive among them, according to a piece in AdMonsters.
Conduct an Audit
It’s important to know where your brand stands with third-party data in order to adapt within a fluctuating industry.
Examine First-Party Data Use
Determine how your brand uses first-party data. Ask questions regarding the value that is offered to customers in exchange for accessing their data and pinpoint whether advanced segments and tailored outreach are being applied.
On-site testing and the incremental gains over time that it affords are critical, so ramp up your ability to test in order to improve conversions.
Integrate New Solutions
Know what your ad tech options are for targeting in a post-cookie world and test them to achieve your specific business goals.
Implement measurement that abides by privacy rules while understanding ROI, using mixed media measurement and other probabilistic tools.
The shift toward using first-party data sources requires compliance and various technical changes to your brand’s measurement process, so it’s important to align your teams across analytics, data, engineering, marketing and advertising functions.
For more detail on how marketers can prepare for a cookie-less future, read on in AdMonsters.