Some questions have a tendency to stick around for years without ever becoming fully answered: How did the pyramids get built? Why did we stop going to the Moon? Will we ever stop sharing our streaming passwords?
In the advertising world, one of those questions (or maybe THE question) is: how can we optimally use data to maximise growth for brands and publishers? Furthermore, how should marketers do so when third-party cookies are on the way out?
While that perfect answer is likely still evolving, the speakers at April 28th’s Mediatel breakfast briefing at the Andaz, London, provided a most effective overview to date of what the industry can expect to experience given the trends of the past and exciting opportunities of tomorrow. Read on for the most valuable questions and answers from the Mediatel breakfast briefing.
[Note: questions and answers have been paraphrased for the sake of brevity.]
Q: What is the latest in online advertising regulation and what is on the horizon?
[Sam Tomlinson, Partner and Media Leader, PwC] While some steps have been taken in anticipation for the impending changes in digital targeting, a clear picture remains elusive due to the proliferation of alternative identifiers and changes to Google’s privacy proposals. Indeed, third-party cookie deprecation is looming over us and although it may be postponed, it is inevitable. In many ways, the shift is already happening with various browsers moving away from third-party cookies. Eventually, reliance on third-party data will be fully discontinued. It’s important to understand that publishers, brands and agencies cannot rely on a one-size fits-all solution and have to be mindful of the decisions the CMA will be making to ensure small publishers are protected. So far, it is uncertain how regulators will manage a post-cookie world. The Internet Advertising Bureau (IAB) in Europe has developed transparency and consent via Framework Version 2, which has been challenged by the privacy regulators in Belgium. And thus, it is still unclear how things will progress from a regulatory perspective. So in the face of uncertainty, the best way forward for all parties involved is to exert pressure on the long-term direction. Indeed, many advertisers have declared that preparing for a cookie-deprecated future is one of their top priorities, and many are already shifting tactics and budgets away from third-party cookies and toward first-party data and other tactics.
Q: How can brands use data to build brand awareness and find new customers if they don’t have first party data?
[Stephanie Fabb, Chief Data Officer, Hearst UK] Here are three steps marketers can take today:
- Planning: Identify the consumers’ needs and use cases, then plan campaigns that directly answer these. Campaign assets should be focused on gathering valuable data from consumers (feedback, survey, etc).
- Collaboration: Partner with publishers that are data rich and trade your customer data with theirs.
- Symbiotic relationships: Beware of walled gardens as they force brands to blindly trust that their campaigns are getting delivered to the right audiences by these publishers. Brands should focus on partnering with more sustainable publishers who promote open-gardens and augment their own data strategies.
Q: Which customer trends are shaping the future of the media ecosystem? How can advertisers better understand and lean into these habits?
[Sam Tomlinson, Partner and Media Leader, PwC] We’re very excited about addressable TV advertising and the solutions that have recently been brought to market, especially ones that provide a single high-quality premium environment with the ability to use first-party data and contextual targeting. Going back to what Stephanie said: partnerships are essential. Brands and agencies should embrace partnerships with key players, allying publishers with SSP and DSP providers to support their efforts.
[Neil Robinson, Customer Transformation, Salesforce] Despite the anxiety caused by the deprecation of third-party cookies, there are other trends in the market to pay attention to. Looking at emotions and customer experience, for instance, are some great ways to push boundaries. There are a few well-intentioned options available requiring marketers to think strategically with first-party data and test different options to improve the consumer experience – which is arguably the most critical element in the advertising equation. The key is ensuring you’ve built your media plans with your customers in mind first.
Founded in 2005, Amobee is an advertising platform that understands how people consume content. Our goal is to optimize outcomes for advertisers and media companies, while providing a better consumer experience. Through our platform, we help customers further their audience development, optimize their cross channel performance across all TV, connected TV, and digital media, and drive new customer growth through detailed analytics and reporting. Amobee is a wholly owned subsidiary of Singtel, one of the largest communications technology companies in the world.
If you’re curious to learn more, watch the on-demand demo or take a deep dive into our Research & Insights section where you can find recent webinars on-demand, media plan insights & activation templates, and more data-driven content. If you’re ready to take the next step into a sustainable, consumer-first advertising future, contact us today.
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