One of the biggest trends in Digital marketing, advertisement, and media industry is going to face in 2021 is being able to communicate with consumers and transact effectively in a cookie-free world.
Here is the list of 4 important factors which is going to affect the digital marketing industry, revealed by a firm specializing in data enrichment solutions to meet consumer names Lotame.
Privacy and identity, much more combined
Privacy will be the competitive advantage of 2021 and will be connected to identity solutions that embrace information minimization, put solitude above focus and design on non-personally identifiable data (maybe not PII). 2021 will be the year of privacy laws, mainly in the USA, but in a globalized world, no nation is excluded, which will help the digital advertising business construct a transparent and reliable ecosystem.
Given this, a large number of companies will look for new alternatives to get the necessary information that permits them to run user appeal campaigns. This implies a new challenge since until now the favorite strategy had been the usage of email for a solution to privacy problems; However, this route does not fully ensure getting the information correctly, nor is it the most user-friendly way.
Last year the media and electronic advertising business became obsessed with the imminent disappearance of third-party cookies, particularly using Google Chrome’s announcement to slowly join this decision starting in 2022.
For this season, the problem will stay on the table, therefore it is expected that advertisers will increase pressure on the network to meet their needs for tracking, targeting and data measurement, in order to focus their advertising efforts and enhance the attraction and loyalty of consumers.
But, not all cookies are the same, and not all are banned. Cookies are handled differently depending on the browser and also have various permissions. Firefox and Safari now don’t have any plans to replace third-party cookies with options, but they nevertheless allow first-party biscuits.
Firms need to take advantage of this year to get ready for the slow elimination of cookies: talk to their partners about how they’re handling third-party cookies and their strategies for the long run; create relationships with new suppliers, platforms, and partners; whereas the websites will need to be updated and search for new alternatives.
Improve data protection tools
In early 2020, Lotame predicted that the media would start to wall up its precious data. As platforms and media invest more in circumstance and construct walls around their first-party information, they will face increasing evaluation of demonstrating to advertisers that the return on advertising spends and its own scale.
“Fenced Houses” can work in the brief term for sockets the size of this New York Times, but moderate and small won’t survive alone in this circumstance. This can lead those players to lean more aggressively on data enrichment and to test multiple identity options, demonstrating their flexibility and agility to meet pupil requirements.
The quality of the data will bring more benefits
Data quality will live its”Marie Kondo” second in electronic advertising. As media and advertisers accelerate the group of first-party information, the quality of the data will do the”magic” the digital business desires. This is a win-win for everyone, including customers. As data quality improves, those players without the capability to put walls will rely on data enrichment to provide advertisers with precision at scale to impact key audiences. People who have wealthier, higher-quality profiles will visit their reach skyrocket.
” Among the biggest challenges, advertisers and media will confront in 2021 is being able to communicate with customers and transact effectively in a cookie-free world. If they can not get the individuality right, they can’t understand or draw crowds at scale, which affects everything from customer loyalty, to sales and revenue, in addition to business viability. With Panorama ID, we are providing the digital ecosystem the same chance to compete, enhance relationships with consumers and offer exceptional, diverse and ad-supported articles through the open internet and connected devices”, commented Sebastián Yoffe, Managing Director Latam & US Hispanics in Lotame.
“In Lotame we see a glowing data future ahead with the right tools, teams, and partners. Connectivity and collaboration Throughout the ecosystem can create a fair, accountable, and transparent business for entrepreneurs, media companies and consumers,” added Yoffe.