Google plans to phase out third-party cookies by 2023 in response to increased regulation and the demand for user privacy.
This continues to be a hot topic of discussion as no one knows what impact these changes will have on the marketing landscape yet. However, preparing for these changes is crucial and will ensure your organization continues to achieve great results regardless of the outcome.
What is a third-party cookie and what do they do?
Third-party cookies are those that come from somewhere other than a website a user chose to visit. Stored as a small text file, these record a user’s web activity. With this, targeted adverts are displayed to a user based on their interests and digital behavior.
Over time, digital marketers have used third-party cookies for targeting, tracking, and retargeting campaigns. As such, they are one of the most effective digital marketing tools.
How to prepare for the unknown
Whilst Google develops the Privacy Sandbox as a long-term solution to the end of third-party cookies, some short-term viable marketing tactics are serving as immediate replacements.
First-party data collection
First-party data refers to information you collect from your customers, site visitors, and app users during their interactions with your products and services. As third-party cookies are phased out, having a strong first-party data collection strategy will be crucial for digital campaigns moving forward, as they will ensure you have compliant, actionable data on your audience’s activity.
If you rely on borrowing data for your campaigns, your first-party data will now need to be your bread and butter in your marketing efforts. Focus on the value you can offer your audience in exchange for their data. This can range from content, discounts, or trials, to name a few, that can be used to improve your first-party data collection strategy.
Account-based marketing (ABM)
With third-party cookies gone, this will result in drastically reduced scope to track and retarget prospects. As such, more refined approaches, such as ABM, focusing on relevancy will need to be more widely adopted.
Focus on prioritizing which accounts are the most compatible for your organization, and focus on obtaining the best first-party insight into these accounts. ABM goes hand-in-hand with a strong first-party data strategy, and with this data, you can build meaningful relationships with high-value accounts, offering effective solutions by utilizing creative tactics.
Reverse IP tracking technology
Organizations that utilize reverse IP tracking technology, or website visitor identification software, can obtain in-depth first-party data on their website visitor’s activity. With this, they can effectively enrich every aspect of their marketing activity by having data-informed insights.
High-level website visitor identification software, such as Lead Forensics, is an excellent tool in reinvigorating your first-party data strategy in preparation for the changes, and for the marketing landscape that will follow once these changes have been implemented — all whilst putting users’ privacy first.
Lead Forensics is an intelligent website visitor identification software that reveals the identity of your previously anonymous website visitors to instantly generate business leads. It works by utilizing intelligent reverse website visitor tracking technology and a global leading database of business IP addresses to track your website visitors, reveal their identity, and notify you in real-time. Users are provided with the business name, contact details of key decision-makers, and detailed website analytics. This way, you have everything you need to reach out to the right person, with the right information, at just the right time. Book your Lead Forensics demonstration today!