Accenture has released a new report, which looks at the latest trends and approaches in data tracking and tests alternative methods for digital marketers to maximize their ad spend. As online platforms move to phase out data tracking elements, including cookies, businesses are increasingly prompted to seek out new means of gathering data – but many have not yet updated their strategies.
The report found that while cookies remain an essential part of any digital marketing strategy, there are now alternatives that can offer different insights into customer behavior.
For instance, first-party data (data collected directly from customers) can provide more accurate information about user preferences and interests than cookie-based targeting. Furthermore, contextual targeting does not rely on cookie-based monitoring but rather analyses words and phrases found in content to decide what adverts should be displayed.
Accenture also looked at how artificial intelligence (AI) may be used in digital marketing and found that it might help by processing massive amounts of data quickly and effectively to help marketers better understand consumer behavior. A few businesses now employ this technology to produce advertisements for particular client segments or demographics.
The report concludes that cookies will still be used in digital marketing campaigns, but they shouldn't be the primary tool for identifying and assessing customers. Did you know that a staggering 45% of US and UK advertisers have been employing the same strategy for advertising for the past five years? The fact that 71% of this group has yet to make plans to change their approach in the upcoming year is even more unexpected.
That means outdated advertising playbooks will still be in use, and only 32% of advertisers are willing to adapt to new methods.
According to a report, many need clarification about how evolving data privacy changes could affect their approaches. It's alarming that some must know the differences and alternatives available.
Thankfully, digital platforms are already developing adaptive solutions to address this issue. And Pinterest, in particular, stands out.
Accenture found that advertisers using Pinterest's non-third-party data options - such as interest and keyword targeting - can achieve similar performance without risking their return on ad spend or conversion rates compared to retargeting alone.
So, if you want to stay competitive in advertising, it's important to investigate fresh ideas, and Pinterest might be a wonderful place to start.
The good news is that businesses are changing to accommodate your demands, providing you with new chances to connect with larger audiences. Although measuring performance against specific platforms is hard,
Accenture's research has found some tips to help you maximize your targeting efforts. One key recommendation is to centralize your in-house data, bringing all yourcustomer journey information together to gain more insights. Another useful strategy is experimenting with new audience-based solutions that don't rely on third-party tracking. Meta's Advantage+ campaigns are a great example of this.
It's also important to ensure your departments are aligned with the same objectives so everyone works towards increasing sales. One way to achieve this is by investing in marketing mix modeling techniques, which help you better understand consumer pathways.
Personalizing your outreach through generative AI and creator partnerships can help you make a more meaningful connection with your audience. Plus, you can improve your tracking systems by optimizing your remaining data trails with new methods like data clean rooms.
You can improve all your marketing initiatives by mapping out tracking and performance processes that align with sales objectives. So, don't let a cookie-less world slow you down- adapt and thrive!
Read next: Retailers Say Too Much Tech is Bad for the Customer Experience
The report found that while cookies remain an essential part of any digital marketing strategy, there are now alternatives that can offer different insights into customer behavior.
For instance, first-party data (data collected directly from customers) can provide more accurate information about user preferences and interests than cookie-based targeting. Furthermore, contextual targeting does not rely on cookie-based monitoring but rather analyses words and phrases found in content to decide what adverts should be displayed.
Accenture also looked at how artificial intelligence (AI) may be used in digital marketing and found that it might help by processing massive amounts of data quickly and effectively to help marketers better understand consumer behavior. A few businesses now employ this technology to produce advertisements for particular client segments or demographics.
The report concludes that cookies will still be used in digital marketing campaigns, but they shouldn't be the primary tool for identifying and assessing customers. Did you know that a staggering 45% of US and UK advertisers have been employing the same strategy for advertising for the past five years? The fact that 71% of this group has yet to make plans to change their approach in the upcoming year is even more unexpected.
That means outdated advertising playbooks will still be in use, and only 32% of advertisers are willing to adapt to new methods.
According to a report, many need clarification about how evolving data privacy changes could affect their approaches. It's alarming that some must know the differences and alternatives available.
Thankfully, digital platforms are already developing adaptive solutions to address this issue. And Pinterest, in particular, stands out.
Accenture found that advertisers using Pinterest's non-third-party data options - such as interest and keyword targeting - can achieve similar performance without risking their return on ad spend or conversion rates compared to retargeting alone.
So, if you want to stay competitive in advertising, it's important to investigate fresh ideas, and Pinterest might be a wonderful place to start.
The good news is that businesses are changing to accommodate your demands, providing you with new chances to connect with larger audiences. Although measuring performance against specific platforms is hard,
Accenture's research has found some tips to help you maximize your targeting efforts. One key recommendation is to centralize your in-house data, bringing all yourcustomer journey information together to gain more insights. Another useful strategy is experimenting with new audience-based solutions that don't rely on third-party tracking. Meta's Advantage+ campaigns are a great example of this.
It's also important to ensure your departments are aligned with the same objectives so everyone works towards increasing sales. One way to achieve this is by investing in marketing mix modeling techniques, which help you better understand consumer pathways.
Personalizing your outreach through generative AI and creator partnerships can help you make a more meaningful connection with your audience. Plus, you can improve your tracking systems by optimizing your remaining data trails with new methods like data clean rooms.
You can improve all your marketing initiatives by mapping out tracking and performance processes that align with sales objectives. So, don't let a cookie-less world slow you down- adapt and thrive!
Read next: Retailers Say Too Much Tech is Bad for the Customer Experience
