Episode 2 of Leverage Lab’s webinar series, The Growth Lab, dropped last week! Industry experts AnnMarie Wills and John French delved into the intricacies of third-party cookies, first party cookies and new opportunities for media companies.
The threatened (or promised, depending on your outlook) deprecation of third party cookies is soon to be fully baked – that is, finally a reality. But it’s far from the end for media companies – in fact, it’s a chance for you to stand in your power because of your rich first party data.
Here is a summary of the webinar’s key points:
Key takeaways:
- Third-party cookie deprecation is happening now: It’s not a future threat, only 30% of web traffic is targetable with third-party cookies currently.
- First-party data is the key to success: data collected directly from users is becoming more important for marketers. B2B media companies have a wealth of first-party data that they can use to target their audiences. Leverage your existing data on your audience and their interactions to understand them better and connect with them more effectively.
- Invest in data infrastructure: Break down data silos and create a system that allows you to easily access and analyze your first-party data.
- Embrace transparency: Be open with your audience about how you use their data and showcase the value you provide. And be transparent with your advertisers, too!
- Support your sales team: Equip them with the knowledge and tools they need to effectively communicate the value of your first-party data solutions to advertisers.
Challenges:
- Many marketers are unprepared: Only 8% of marketers report being fully prepared for a post-cookie world.
- Programmatic advertising needs to adapt: While programmatic can still be used as infrastructure, publishers need to find new ways to sell their inventory in this environment.
- Replacing third-party data sources: Publishers need to find alternative ways to gather audience data beyond third-party sources.
Opportunities:
- Strengthen relationships with advertisers: By offering first-party data solutions, you can build stronger relationships with advertisers who are struggling to adapt to the changing landscape.
- Differentiate yourself from competitors: By embracing first-party data and transparency, you can stand out from competitors who are still relying on outdated methods.
- Gain deeper audience insights: By analyzing your first-party data, you can gain a deeper understanding of your audience and create more targeted and effective content and advertising campaigns.
Don’t wait until 3PD cookies are really gone to start preparing for a post-cookie world. Start investing in first-party data now.
And BOLO The Growth Lab’s third episode, ELEVATE Your Sales Game, to learn how to prepare your sales teams to step your media organization into the gap left by 3PD.
