In this article, Manish Mohan, senior director, digital strategy, NetElixir, explores what is next for media measurement in a privacy-forward era. He breaks down the key measurement tactics to focus on, potential roadblocks with cookieless tracking, and his immediate advice for marketers.
For some marketers, the “privacy-forward era†felt like the unofficial buzz term of 2020. Then came the pandemic. Timelines shifted, consumer buying behaviors dramatically changed, and with them, many marketers were left questioning: What measurements will matter as we enter this next era, and how should we look to better prepare now?
Cracking Cookieless Marketing
Media measurement in 2021 is a “tough cookie†to crack. Q1 2021 is the start of a paradigm shift as the industry prepares for cookieless marketing. This means it is also the perfect time for brand marketers to re-evaluate how they track success, and what success should even look like in this new privacy-forward era. In fact, according to KantarOpens a new window , nearly half (48%) of marketers worry that their companies will not be able to provide impactful performance without cookies. With third-party cookies soon to meet their demise, measuring impactful performance will certainly start to look a bit different. It is not, however, something to fear.
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Another way to break the cookie habit is for brand marketers to begin to rely on and better incorporate first-party data into their strategies. In fact, a recent 2021 surveyOpens a new window revealed that 52% of respondents said their organizations had prioritized digital experiences and/or strategies to collect more first-party data. This is a great start, but that percentage still needs to increase.
Now is the time to take a look at a multitude of channels that are likely already gathering consumer insights but may have been previously overlooked (call center data, social media inquiries, POS systems) and look for smart ways to leverage the first-party data.
Will There Be Roadblocks?
The only potential roadblock is a marketer not willing to adapt. The truth is, we have all the tools we need to make this smart marketing shift a success. As marketers, our goal should always be to deliver content that will resonate with our intended audience. The removal of third-party cookies and accentuation on first-party data efforts is forcing us, finally, to do just that.
Consumers respond best to personalized, curated content. They want to feel heard, seen, and valued as consumers, particularly during a pandemic era in which consumer sentiments are shifting rapidly, and dollars are tight for so many. Consumers want to connect with the brands they are purchasing from; leveraging first-party data is a way for brand marketers to ensure that they are doing just that.
And if you are still unsure of how to gather additional first-party data, consider market research. Take the opportunity to survey your consumers and directly ask them questions that can help you gauge better insights into your target audience’s passions, interests, and pain points. Leverage the responses to inform future strategies.
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What Immediate Advice Should Marketers Consider?
Think of it like this: you are not revamping your media measurement strategies; you are making them smarter. You are taking the time and effort to build trust and loyalty with a dedicated customer base, and then you are leveraging their first-party data insights to ensure that you stay loyal to their wants and needs in the future.
The next wave of media measurement is nothing to fear. The industry has been on a long journey toward achieving smarter media measurement through performance-based marketing strategies. Let your consumers be your compass. Take time to understand who they are in this moment, what they might need from your brand, and how their needs might continue to evolve and shift based on current events and cultural happenings.