Marketers are under more pressure than ever before to prove ROI and efficiency of marketing activities in relation to business performance. On top of that, there are new privacy regulations and uncertainty around what new technologies will have to be implemented in order to replace the granular level targeting and measurement the industry historically has used third-party cookies for. It’s clear marketers are going to need the right tech stack and partners to continue to prove their team’s efficacy.
We found that marketing is facing increased demands today, insights from the study include:
Consumers expect brands to deliver engaging experiences across highly fragmented journeys. Seventy-two percent of decision-makers reported that customers demand more relevant, personalized experiences at the time and place of their choosing.
Marketing runs on data, but the rules governing customer data usage are changing quickly. More than 70% of study participants stated that consumer data is the lifeblood of their marketing strategies, fueling the personalized, omnichannel experiences customers demand.
These demands paint a challenging picture. Just as marketers are poised (and tasked) with delivering greater value to their organizations and customers, the ground rules are changing and threatening their ability to deliver. Indeed, 62% of respondents said that the forces of data deprecation will have either a “Significant” (40%) or “Critical” (21%) impact on their marketing strategies over the next two years.
EFFECTIVE IDENTITY RESOLUTION CAN HELP BRANDS PREPARE FOR DATA DEPRECATION CHALLENGES
Marketers face a daunting landscape, but they can leverage the data, technology, and processes that comprise identity resolution to address business objectives, combat ecosystem complexity, and future-proof customer engagement efforts.
Identity resolution encompasses a wide range of capabilities that support an equally diverse set of marketing use cases. These include the targeting, personalization, and measurement of both known and pseudonymous audiences in the offline and digital worlds, which enables marketers to improve customer data management, drive more effective personalization, and gain insights and efficiencies through measurement across touchpoints.
By taking the time to vet the privacy procedures and data collection processes of identity solutions you can reduce your regulatory risk and maintain customer trust. In an open-ended survey response, a marketer shared, “We’ve found that users are willing to volunteer data when they understand what it’s being used for and are asked for clear consent.”
FINDING THE RIGHT PARTNERS TO HELP NAVIGATE THE CHANGES
The scramble to find an alternative to third-party cookies has slowed down since Google announced they will be delaying their cookie removal until late 2023. However, this gives marketers a unique opportunity to take advantage of the additional time and feel more prepared and confident in their solutions.
With the delay, marketers can now test ID solutions and compare apples to apples with data from the third-party cookie while it’s still active and addressable. Test and find a solution that works now, so there are no surprises once cookies have finally made their way out the door in 2023.
At Tapad, we’ve developed a solution that provides agnostic interoperability for the myriad of cookieless identifiers emerging in the market. As a new module in the Tapad Graph, Switchboard will connect traditional digital identifiers to cookieless IDs to support the entire ad ecosystem with privacy-safe future-proof identity resolution.
To find out more about how the future of identity resolution is the foundation for understanding your target customers and how you can continue to reach them, download our full study with Forrester Consulting to gain more insight.