A cookieless future, though an eventual reality, might just take a little longer to get implemented. Google recently deferred its decision to phase out third-party cookies until 2023.
This provides a breather to marketing and advertising communities – some much-needed additional time that can be used to get creative and reimagine their marketing strategies.
Marketers can use this time wisely to finetune their outreach plans and focus on showcasing relevant, customer interest based content.
The latest update about the cookie ban
Third-party cookies might get phased out in 2023. However, many brands are looking at alternate strategies to redefine their marketing strategies. Google has already found itself mired in controversies since competitors have accused it of attempting to gain a greater market share through its own products.
Its new identity solution called Federated Learning of Cohorts (FLoC) mechanism hopes to track user behavior by targeting large audiences of people with similar interests. However, FLoC has been facing many delays. Google’s announcement also says that the web community needs more time to adapt itself to this massive change. While further details about FLoC are awaited, Google plans to test out new advertising techniques that would safeguard user privacy.
Why cookies will not work out in the long run
Marketers shouldn’t let this delay provide a false sense of security to them. Consumers have started voicing their opinions around data privacy and major browsers like Safari and Firefox have stopped relying on cookies. Apple already has an option where users can block cookies. Marketing campaigns which simply leverage user data will suffer as consumers become more aware and regulations become tighter.
Let us look at some numbers:
- A whopping 50% of users in the US cannot be reached through third-party cookies.
- 96% of iOS users have opted out of cookie tracking by apps.
- A 2020 KPMG study found that around 97% of US consumers reported data privacy as a big concern with 87% viewing data privacy as a human right.
Instead of a knee-jerk reaction, brands would do well by crafting outreach programmes focused on intent and interested-based targeting. Such campaigns will add value to end users, look natural and lead to a better perception. Marketers will also be able to focus on quality ads and communication, leading to enhanced ROI.
Why contextual advertising is a better bet
Marketers need to define a robust strategy that would keep customer data safe, while providing them with relevant ads.
Contextual advertising focuses on running advertisements amidst relevant content and context. It can help companies rapidly adapt to a new and effective way of reaching their audiences in a privacy-first world.
The ads will help companies eliminate ad wastage, get relevant impressions and gain higher quality leads while delighting users along the way.
Through contextual advertising, brands can:
- Undertake an almost human-like analysis of sites before selecting the appropriate ones for placing ads.
- Embed ads naturally and seamlessly next to relevant content.
- Leverage the content already present on the websites and continue the narrative through their ads.
- Introduce their products/services in a natural setting without sounding pushy or sales.
- Enhance marketing and advertising ROI through smarter outreach programmes.
Multiple brands have already used contextual advertising strategies to gain advantages in terms of increased brand recall, awareness, and favourability amongst a host of other metrics. A good example is that of fashion brand Carolina Herrera which ran multiple targeted campaigns through relevant content during the holiday season to drive a sharp uptick in website traffic and purchase. The ads lead to a 166% increase in brand awareness, 44% spike in ad recall and a 39% jump in brand favourability.
As cookies are on the brink of an extinction, contextual advertising is the preferred favourite among marketers. Its ability to add to relevant content’s narrative with its own brand messaging and ad placement is seen as a major plus. Better ROI from such a campaign ensures that the entire ecosystem of advertisers, publishers, and consumers is happy and thriving. This strategy is ready to be implemented rapidly and also offers an impressive scale.
Drop us a line to learn more about contextual advertising solutions that can help you provide better brand narratives.
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