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4 things to remember for the cookie-less future of measurement
March 31, 2021
In a recent panel discussion, we took a deep dive into the future of measurement success in a cookie-less world. Our panel of experts and industry leaders covered a range of topics, but four key takeaways stood out that every business leader should remember for the cookie-less future of marketing measurement.
1. Assess Where Data Deprecation Will Hit the Hardest
Now is the time to take a hard look at your current measurement framework and marketing spend to understand which areas will be compromised most in the cookie-less future. Business leaders should be particularly wary of measurement inside walled gardens, which may be a tempting place to look for relief from the loss of the cookie. However, walled gardens come with their own increasingly complex set of challenges, including a limited, siloed view of behaviours and limited lookback windows.
2. Focus on Growing Your First-Party Data
The value of first-party data will only increase as alternate forms of data collection shrink, which means that business leaders need to re-set and think about what customers really want. The importance of a clear, transparent value exchange cannot be overstated, alongside privacy and consent. Now is the time to lay a foundation that highlights the benefits of data-sharing to customers, with a focus on loyalty.
The theme of transparency also translates into internal cross-functional relationships. Siloes with an organisation are a recipe for failure in the post-cookie world: senior leadership, marketing, legal, and other departments need to be in constant communication to create a 360-degree view of all activities related to customer data.
3. Experiment, Test and Learn to Better Connect with Customers
A test and learn mindset is critical in creating a future-proof strategy, and there are several data-rich areas of opportunity, including publishers, cohorts, and contextualisation.
As brand focus on growing these areas, they should be prepared to test in order to optimise spend and readjust strategy for cost effectiveness. While historical data on channel performance and ROI will continue to be high-value, the post-cookie world is a moving target, so it is important to constantly revisit prior assumptions frequently. Testing should also be top-of-mind for the messaging itself, answering questions like: what are we saying to our customers? How can we be more precise in our targeting? What do our highest-value customers react best to, and how can we maximize their potential?
4. Future Proof Your Measurement
For too long business leaders have relied on methodology that has not lived up to its promises, even in an ideal world. It is finally time to say goodbye to the top down/bottoms up approach and future-proof your measurement with a multi-level holistic framework that is privacy-safe. Businesses with the best odds for success will be those that commit to incorporating a full business view into their strategy, including a better understanding of personas, cohorts, and location data.
At Analytic Partners, we’re focused on a future-proofed solution to drive our clients towards success. We do that through our Commercial Decisioning System, with Commercial Mix Analytics at its centre. Commercial Mix Analytics is a multi-dimensional and multilevel solution that leverages deep granularity, only connecting to the user-level where it is available and will add value. This is a holistic, unified approach that blends statistical models with machine learning/AI to deliver depth and breadth of insight at speed and scale.
Saying ‘So Long’ to the Cookie
The cookie-less future will soon be reality, but it is far from too late for businesses to future-proof for what comes next. This is a moment of opportunity for brands to adapt and instigate new and effective measurement programmes that better serve all marketing requirements and ultimately drive the full business forward.
By prioritising first-party data, assessing and testing against current strategies, and focusing on holistic solutions, business leaders will find that the post-cookie world is full of opportunity.