Ajay Rama (SVP Products) and Aditya Saxena (VP APAC) share insights on Business Insider India on how third-party cookies getting blocked could have huge implications for marketers.
GDPR and CCPA have shifted the balance of power in favor of consumers by putting them in charge of how their data is handled and shared. This is a critical shift that has far-reaching implications for how consumer data is collected, shared and used across the web. Many marketing technologies and data companies have built their businesses on the back of third-party cookie data. With all the major browsers including Google Chrome starting to phase out third-party cookies, how would marketers continue to use data effectively for targeted ads and personalized experiences?
Ajay & Aditya discuss the following emerging alternatives and trends in this arena:
- Create ways to capture and convert third-party data to first-party data
- Consolidation of ‘data companies’ and big agencies buying data companies
- Second-party data partnerships
- Privacy sandbox initiative from Google
- Contextual and event-based targeting gaining prominence
What do these changes mean for Financial Marketers?
With huge customer bases and rich profile information on these customers, Financial services companies are in a great place to start enhancing their first-party data and driving partnerships to access second-party data.
“We anticipate both Financial Services players and data providers /AdTech players to come up with offerings that allow them to further enhance knowledge of prospective customers through non-traditional data gathering methods – which are fully consent driven. However, to do that, innovation and new products will be the way forward,” the article states.