If navigating cannabis marketing regulations feels like reefer madness, marketers can minimize overwhelm with a four-tiered approach: Federal, state, platform-specific, and privacy-compliant.
For many attendees, myself included, AdExchanger’s Programmatic I/O Conference was their first in-person business event since the COVID-19 pandemic began. The energy and enthusiasm were palpable, and rightly so, as the conference offered a diverse set of topics and guest speakers to pique the interest of every digital marketer.
This year’s discussions focused largely on one theme: identity solutions for the cookieless world. Read on for my key takeaways.
With the deprecation of third-party cookies, there has been a rise in technology to manage first-party data, as well as a rise in collaboration. It was shared that 7 in 10 marketers still need to better leverage their first-party data, and that only 1 out of 10 consider their first-part data strategy to be “very mature.” That being said, identity solutions—including contextual targeting, which I’ll touch on later—need to be part of any digital marketing strategy moving forward.
When activating first-party data, marketers should now think of the consumer. The strategy should focus on quality—not quantity—because good ethics makes for good business. This is about avoiding friction and respecting the consumer.
Ideally, the publisher should be managing controls on consent, but we need to rethink consent as well. The consumer may be telling us not to collect all their data, but instead, just what we need. So it isn’t about collecting as much data as possible, but taking a step back and asking, what do we need to market effectively? What are the consumer's needs and preferences? Take time to understand your core consumer by looking at the data. It may be helpful to reverse engineer your strategy with the end in mind.
Marketers need to be part of the solution and be willing to collaborate, test and share. Testing will require an investment as you revisit taxonomy, train your teams, or partner with ad tech. Testing can involve anywhere from 10-20 identity partners to find the right combination, and by sharing our learnings, everybody in the industry wins.
AI-enabled contextual targeting is on the rise in response to the deprecation of third-party cookies. Contextual targeting is a great privacy-friendly option as it provides real-time data to understand what a user is looking at, and ads are served when a user is already in a desirable frame of mind. It’s a good low-funnel tactic that delivers the brand message to the user and can be tracked by view-through conversion performance.
When using contextual targeting in relation to the loss of cookies, it's important to understand relevant moments for your consumers. It was recommended that we optimize for results—that is, aim for maximum reach and then dial in to increase precision to drive conversion.
In a nutshell, we can look at contextual targeting with a 3-tier approach by:
To summarize, here are my takeaways on how marketers can get ahead and prepare for the cookieless future:
All in all, Programmatic I/O 2021 was a momentous occasion for digital marketers. As we look forward to forging a new, privacy compliant "normal" for our industry, it was great to be reminded of the wealth of knowledge and experience we collectively hold. As long as we keep sharing knowledge and ideas, the digital marketing space has a bright and exciting future.
Looking for more information about how to succeed in a cookieless future? Check out our guide, Beyond Third-Party Cookies: Your Guide to Overcoming the Identity Crises, for a deep dive.