Last month, Google announced a delay for third-party cookie deprecation on its Chrome browser until the end of 2023. Despite this delay, using cookieless solutions today already shows better performance. Further, new research suggests that the marketing community is eager to embrace the ‘cookieless’ future and is looking towards the publisher community to keep pace with the privacy-first trend.
In April of this year, LiveRamp together with Censuswide surveyed 251 senior marketers to learn how UK brands were preparing for the withdrawal of third-party cookies.
Our results revealed that 78% of respondents believe that the final withdrawal of third-party cookies will have a positive impact on their advertising strategy. When asked what alternative advertising strategies and solutions the respondents would be looking to implement from a multiple-choice list, diversifying formats and channels (49%), first-party authenticated data (45%), identity solutions (43%) and contextual targeting (41%) were the most popular responses.
The research findings reveal that brand marketers have already been thinking through the implications of the digital ad industry’s shift towards greater respect for consumer privacy and the available solutions.
The opportunity for publishers
For publishers, the loss of third-party cookies and restricted access to mobile IDs (and the advertising revenues they help generate) is problematic. The core business model of many publishers is still based on offering advertisers access to target audiences. Without the traditional digital methods of personalizing the consumer journey by leveraging cookies and device IDs, that task becomes more difficult.
Optimizing the value of authenticated first-party data will be a key factor in the future success of publishers. This means that publishers should be looking to deepen the relationships they have with their readers and, also, move much closer to a direct relationship with their key advertisers.
The good news for publishers is that, according to our research, more direct contact with publishers is exactly what marketers are looking for. Our research revealed that 85% of brands are looking for more direct contact with target publishers.
Tim Geenen, Managing Director, Addressability Europe, LiveRamp
When marketers were asked what publishers could do to encourage them to run more campaigns, respondents ranked the following criteria in order of importance: a compelling value exchange (53%), new consumer-centric or engagement-based metrics (48%), working with trusted identity partners (46%) and increasing their percentage of first-party authenticated data (43%).
The value of authenticated inventory
Our survey suggests that marketers are eager to explore new ways to maintain their reach and engage high-value audiences. Interestingly, marketers also revealed they would be willing to pay more to reach and engage with high-value audiences in a personalized way.
When we asked whether their brands would pay more for authenticated media and if so, how much more, 84.1% of respondents revealed they would be willing to pay more. So, what can publishers do to leverage more value from first-party data? In the first instance, they should consider how to build trusted consumer relationships and store ‘consent-provided’ data from their readers/ viewers.
Many publishers are hesitant to ask readers to log-in to access content for fear of losing traffic, but this is not necessarily the case. Increasingly, the digital-savvy population recognizes that a value exchange is taking place (i.e. free quality content and better-targeted advertising or premium content in return for their log-in details) and are happy to exchange information as long as the nature of the exchange is transparent. Publishers should be confident enough in their content to expect their regular readers to stick with them and happily sign-in. They might then look at how they can extend and deepen the quality of their first-party data through the use of content offerings such as surveys and competitions.
Once publishers have that authenticated first-party data, how can they leverage it to provide advertisers with evidence that their audience can be reached on the publisher’s properties? One way, for example, would be to use LiveRamp’s Authenticated Traffic Solution, which connects authenticated inventory to advertiser demand. This can help publishers unlock new revenue streams with enhanced direct, private marketplace and open-marketplace targeting on identity-enriched ad inventory as well as reaching previously unaddressable environments such as Firefox and Safari.
For some time publishers have had their ad revenues eroded by the increasing number of ad tech vendors required to execute the digital media buying process. But our survey results reveal a huge opportunity for publishers to insulate themselves and take greater control over the process through the smart use of authenticated first-party data.
Managing Director, Addressability Europe, LiveRamp
LiveRamp is a leading data company offering identity resolution that is integrated throughout the digital ecosystem, providing brands and their partners with the foundation for true omnichannel marketing. Its services aim to transform the technology platforms used by its clients into true ‘people-based marketing channels’.