Perspective - A continued shift toward cookieless strategies

By Trent Lloyd | 15 December 2023
Trent Lloyd, head of brand solutions at Eyeota

The AdNews end of year Perspectives, looking back at 2023 and forward to next year.

I foresee a continued shift toward cookieless strategies and a greater emphasis on leveraging first-party data. As cookies continue to phase out and consumer privacy becomes a top priority, advertisers and agencies will need to find new ways to target and measure their campaigns.

This will lead to increased adoption of AI and machine learning technology and a focus on contextual advertising and social channels. Additionally, there may be a greater intersection of cloud computing and AI technology to improve real-time optimization and audience targeting.

Overall, the industry will likely be heavily invested in finding trustworthy, reliable, and validated solutions for the cookieless world.

What strategies should brands and/or advertising technology companies implement now to succeed in 2024?

To succeed in 2024, brands should prioritize collecting, cleansing and enriching first-party data from all touchpoints, invest in cloud-based infrastructure for effective data management, and invest in cookieless strategies such as contextual targeting, universal IDs, and social activation through MAIDS/HEMs.

It is also crucial to adopt an omnichannel approach, leveraging different technologies and media to hedge against cookie deprecation.

Additionally, preparing for the future of measurement in a cookieless environment and prioritizing a full-funnel + omnichannel approach will be key in staying ahead of the competition. Given recent and forthcoming legislative changes in major markets such as the US (specific states) and Australia, brands should also focus on collecting first-party consent-based data, optimizing content for mobile, and investing in quality data to ensure success in the cookieless future.

Finally, there should be a shift towards less -intrusive and more entertaining ads to reduce ad blocking and engage consumers effectively.

How will the rise of streaming services and cord-cutting impact the advertising industry by 2024?

The rise of streaming services and cord-cutting will have a significant impact on the advertising industry by 2024. Advertisers will shift more budget towards CTV and digital streaming platforms as they become increasingly popular among all age groups generations.

This shift will also allow for more personalized and interactive advertising, leading to improved conversion tracking and higher prices. With more viewers choosing to include advertising to lower monthly costs, there will be increased opportunities for advertisers, but it may take some time for consumers to adjust to these new ad formats.

Additionally, continued consolidation among streaming services and the potential for new data partnerships will play a key role in shaping the advertising landscape in the coming years.

Overall, the growth of streaming services and cord-cutting suggests a shift toward more targeted and personalized advertising, with the potential for some short-term challenges and changes in the industry.

With privacy concerns on the rise, what precautions and measures will Eyeota take to ensure ethical and responsible data practices by 2024?

In order to ensure ethical and responsible data practices by 2024, Eyeota will continue to focus on transparency, quality, and compliance in data practices. This can be achieved by investing in key infrastructure and talent to regularly review and update data practices to meet industry standards and adapt to new regulations.

Additionally, Eyeota will enhance its data protection measures by utilizing UID2, ID5, IDFA, AAID, HEMS, and contextual identifiers for segment targeting, regularly reviewing data partners and only working with premium partners, and ensuring the protection of our unique first-party data from exposure to bad actors. Eyeota will also implement consistent reviews of data partners to ensure they act ethically and responsibly.

This could involve regular audits and checks to ensure data accuracy and prevent any misleading leads, ad fraud, or other malpractices associated with digital advertising.

Furthermore, Eyeota will prioritize data encryption, backups, and password protection, as well as access management and identity management to prevent data breaches. Lastly, Eyeota will work towards compliance with laws and regulations while also advocating for the importance and benefits of targeted ads through branded ad campaigns and working with organizations such as the Ad Council to educate the public. By implementing these measures, Eyeota can ensure ethical and responsible data practices while also protecting users' privacy.

Australian Privacy Act: Eyeota is prepared to diligently assess any new rules that come into effect as the APA is updated, and we are prepared to incorporate these changes into our existing compliance framework. We are committed to staying aware of these evolving data privacy regulations and ensuring that our data processing and storage practices remain in alignment with the latest legal requirements.

To the extent that data subject consent becomes required for the trading of personal information in Australia, Eyeota will be in a great position to comply with those rules (e.g., by adopting an industry consent mechanism that compares to the TCF in the EEA).

Trent Lloyd, Head of APAC at Eyeota

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