Will The Death Of The Cookie Kill Marketing Careers?
Will the death of the cookie kill off a few marketing careers stay tuned to find out more?
Now, a year ago. I would have answered this question by saying no no, no, no. No, there's plenty of time for marketers to create strategies that are going to help them. Not just survive the deprecation of a third-party cookie actually thrive and in many ways come out stronger than they were at the beginning of this destruction brought about by privacy, but there's an obstacle today that is making me think that we are walking off a proverbial cookie cliff that's really this in Ad Age where they talk about some data and a report from the IAB, which says the digital ad revenue increases more than 12% despite the pandemic headwinds year-over-year now, to put this in context. This is a more than 12% increase in 2020 to 140 billion dollars according to it.
Report commissioned by the IAB and published by PWC the fourth quarter of the year. So the highest revenue on record the digital advertising more than 20 years. So it's okay about a hell of a rebound from a constriction in spend on digital ads at the beginning of the pandemic. Now, even if you account for the u.s. Election spending, this is a massive massive optic digital video grew in the air like 20.6% to 26.2 billion social media ad revenues reach 41.5 billion 16.3% increase 24.9% year-over-year to 14.2 billion. This is just staggering now the ossicle right?
It remains to be seen how the end of the third party cookies all the Privacy changes will impact these figures moving forward Susan Hogan racist senior VP at the IAB. I didn't push this eloquently lead many to wonder if this level of gross is sustainable. There is some concern that programmatic delivery could be negatively impacted. What's the policy tracking is blocked and we wholeheartedly agree is anyone that's been watching thinking cap for a while will know absolutely hate the advice the only be on what Susan Hogan is actually saying unfortunately.
We sang we touched on this a few weeks ago while I have the baby Outlook the 2021 digital ad ecosystem report again conducted by PWC and the Business Leaders in the digital advertising ecosystem need to ask themselves a key question. Are we operating in a way that provides a clever lyrics to consumers in the lungs out now, they Define what value means we're through the three pillars of things. That one is in your offering value that can be free service is right and I want to go into that because a lot of people down for a long time in order to drive engagement II a joke about offering things like personalized discounts where the consumer believes that are required action EG.
Beta is a fair trade for a discount on the product service. Now, I would say that that you don't have to be about just about us like this count. We have been talkin about ways that Brands can actually offer value Exchange in return for data cheetah digital has the capability what you experienced these two really take this to the next level sweepstakes instant wins to face the challenges to you know, how many different ways that you can provide value to conceive in return for that for that. They say good things about the third pillar contextually differentiated prove experiences an example of a joke about hit him against deserve a bonus for sun action. EG loyalty programs that feels
Rachel dipillo is something that will necessarily provide a structure for volume exchange long time between the Browns and the consumer in this is why we think but loyalty programs a deeply connected to how Brands can actually survive the. Of Destruction rolls around by a privacy which includes the depth at that body cookies to main action points, right? I believe every marketer to best survive the death of the third-party cookie on other privacy disruption the fastest. We just mentioned he's embraced zero policy days, right but he's winning the provided to you as a brad changed so that you can personalize your advertising your content. Your service is your messages to that consumer based on what they told you so
That purchase intent told directly to you. This is the gold standard of data in this era of privacy. So you two things. Is there a party day to Playbook to give you lots of examples of what other brands of dumb to provide that value chain in return to a video which gives you some tips on how you can actually get started to collect this zero party data.
Call it is so important. I would also who actually gives you advice around rotate to strategies moving forward. I just want a reference which is many of the checkered history when it comes to dating because of their have to choose to leveraging the party date when selling it on 3D on ecosystem. I mean just this year alone has been charged criminally and agreed to pay a hundred and fifty million dollars for the doj because they were helping facilitate Elder fraud scheme involving phony sweepstakes and psychic psychic services and asked you to find an itchy right of that sold the dates of more than 30 million consumers to Those Behind These fraudulent or deceptive.
Themes for 2008 through 2017. So just just be careful make sure that you get advice from funds that had a consistent view on how to collect data from consume in a fair and transparent mind too many years and it's got the track record to do that. Now the second engagement don't want it off to the side with typically means a program run by marketing service provider. Do you need a software as a service approach with a technology is deeply integrated for the rest of the moffatt's stack power in customer engagement. Every customer signal on any channel should feed into understanding the customer is an individual be leveraged for offering of value exchanged in return for their engagement.
And the transaction not remember if Lucy is a Heavenly Services LED program with a large retainers to keep it going the traditional approaches. I said many many of these kind of marketing Services providers focused on loyalty. It is by definition not properly integrated into a malt extract and you will struggle to show the value for survive the death of the third-party cookie all the disruption brought about by privacy. Ask yourself this how integrated is your loyalty technology personalization technology. This is literally the most important thing that you can do good beta value exchanged some stand-alone Sinai. That's why she said developed the customer engagements with the first company in the world to truly in bed loyalty technology Into the Heart.
Customer engagement Mall text and see you soon.
2020 saw unbelievable increases in digital ad revenue. It boomed by 12% to $140 Billion and the 4th quarter saw the highest revenue on record! So as the third party cookie dies off, will marketer's heads roll? We pose the question but suggest a few areas that will grow and offer ideas on how to make sure your organization (and job) thrive!