Identity is an essential tool for digital marketers and advertisers as third-party cookies are soon to be phased out. Using this technology allows for a more thorough understanding of your audience and more effective advertising, especially now.
According to our February 2021 global survey report “Beyond the Cookie: The Future of Advertising for Marketers & Publishers,” marketers’ number one concern with their own first-party data is accuracy after consumer habits and lifestyles shifted so greatly due to COVID-19. Overall, identity leads to a better understanding of your audience through their interests, preferences, and attitudes across all channels, platforms and devices. This understanding allows digital marketers and advertisers to cater advertisements to a person’s interests and lifestyle to create successful and meaningful promotional touchpoints while respecting consumer privacy.
Most digital marketers are prepared to find an alternative solution to replace the phase-out of third-party cookies. Our survey report shows that over 51% of marketers are actively searching for an identity marketing partner. Without a solution when third-party cookies phase out, marketers will lose the ability to continue to find success with addressability, measurement, personalization, optimization, and frequency management.
Although using third-party cookies to learn about your audience’s interests is familiar to digital marketers, this approach is not sustainable in today’s privacy-conscious world. Digital marketers need a new common language that makes audience targeting relevant and responsible.
There are a handful of solutions that have come to market in the last several months, identity solutions being the most popular. Identity solutions provide new technologically advanced strategies to better serve advertisements to consumers while respecting privacy. They deliver reach and accuracy across devices, domains, browsers, and other platforms. Additionally, identity solutions protect people’s privacy and this respect for privacy is setting a new standard in creating a resilient future for digital advertising.
Digital marketers can use a variety of different approaches to improving their audience-based strategies at different stages of the funnel. Let’s dive into four approaches to the phaseout of third-party cookies:
These solutions each have pros and cons, which is why the most effective approach to the phaseout of third-party cookies is using a combination of the above. In the same global study, 3 in 5 marketers believe a portfolio approach provides a richer customer view without compromising user privacy.
Identity solutions provide many advantages for digital marketers. Successful advertising and identity go hand in hand, as digital marketers can benefit from understanding customers in many ways:
As the third-party cookie deadline approaches, finding and testing an identity marketing solution, or solutions, now is increasingly important for digital marketers. At Lotame, we have the first cookieless identity solution for the open web. Panorama ID is a global people-based, privacy-compliant identity solution for the open web. Our enriched ID is built from multiple inputs, and is interoperable and accessible globally across domains, devices and platforms. Learn more about our Panamora ID and sign up for our Identity Connection newsletter to stay ahead of the trends.
What Does the Future of Advertising and Identity Look Like?
How are other marketers preparing for a cookieless future? We’ve recently conducted a global survey report with over 1,000 marketing and publishing decision-makers to better understand the challenges in addressing the post-cookie digital advertising landscape. Get access to the report to see what we’ve uncovered.