Welcome to the October edition of Spotlight, Novatiq’s roundup of the hottest stories in digital marketing and adtech.
What we have for you today: The search for first-party data, marketers fail to prepare for the end of tracking cookies, and the need for better data in digital marketing.
If data is the new oil, then in digital advertising the wells are running dry. The deprecation of tracking cookies means that much scarcer first-party data is the only game in town, and all around there’s evidence of new partnerships and coalitions emerging to best exploit this valuable source of insight.
For instance, Samsung Ads is joining forces with Epsilon to offer brands advanced TV audience data, precision activation, and measurement. Meanwhile, Microsoft is looking to partner with retailers as they launch retail media networks. With tracking cookies dropping out of Chrome next year, expect to see more such partnerships as brands and their adtech partners seek to tap into rich first-party data reserves held by retailers, telcos, and other such businesses (our own new partnership with Intent HQ is another case in point).
We can also expect to see further innovations in technology aimed at improving first-party data capture and use. Indeed, this month Google announced plans to launch Google Ads Data Manager, a tool to streamline the management and use of first-party customer data for digital marketing campaigns.
As mentioned, time is running out on tracking cookies, but it seems that many marketers have still not got their ducks in a row concerning what comes next. According to research, 53% of marketers “are not well prepared” for the end of third-party cookies and 57% not “fully aware” of available solutions to replace third-party cookies.
Google Sandbox, the company’s privacy-conscious alternative to tracking cookies is perhaps the best-know solution, but even that is failing to fire up the industry to start preparing. There are just a few months left to run on tracking cookies, brands that fail to adapt may find that their digital marketing efforts are no longer fit for purpose.
Garbage in, garbage out. If your data is bad, so too are your outcomes. Given that the digital marketing industry relies on data to effectively engage audiences with the right message at the right time, issues with their datasets are potentially very troubling indeed.
The industry should therefore be very concerned by new research that suggests hashed emails and postage linkages are correct just 51% of the time. That means that nearly half of data used for digital targeting and audience measurement is incorrect. Clearly, the industry is in desperate need of a more robust dataset that can be verified in a trustworthy manner. Fortunately, new adtech innovations are leading to much more reliable datasets than the industry has used until now.
Finally, you can catch up on some of the big trends discussed at Advertising Week, which was held in New York, here. One of the key topics discussed at the event is the need to combat ad fraud, which is exacerbated by a lack of transparency within the buying ecosystem. Other key topics included the need for cross-channel identity solutions and the pressure being exerted on the media ecosystem by convergence and fragmentation.
If this edition of Spotlight has not slaked your thirst for digital marketing content, then why not swing by the Novatiq website and check out one of our latest blogs. This month, we’re looking at how ad agencies can leverage telco data to amplify marketing performance, and explaining why publishers and advertisers alike should cheer the end of third-party cookies. Take a look!