How to help connect the next generation of audiences

Credit: The Trade Desk

Today, more and more consumers are trying to understand how businesses access and use their personal data for marketing and advertising purposes. At the same time, the demise of cookies is challenging the foundations of targeted online advertising. With tightening privacy regulations, brands have had to look for ways to offer more value to their customers in exchange for their data.

How to navigate this transformation was the theme of The Trade Desk’s first Future of Marketing event in Sydney in June.evening soiree CMOs, Featuring a panel of senior marketing and growth leaders from Suncorp, Finder, Marley Spoon, and The Trade Desk on how they’re reimagining data, digital, and campaign strategy to drive the next wave of digital marketing success shared.

Credit: The Trade Desk

Panelists revealed a strong interest in better collecting and leveraging first-party datasets to improve customer-viewer connections. Jennifer Snell, Finder’s head of growth, said the comparison site is continuing its journey of moving from a significant number of anonymous websites and traffic data to knowing its audience. rice field. To do this, they started offering memberships to gather more valuable insights and use them to personalize their content and experiences.

“The way we approached it was not as a data play, but as a way to build deeper relationships with customers and add value,” Snell told attendees. “Part of that equation is getting to know your customers better. I mean, is it necessary?”

While its acquisition strategy is broad, Kate Whitney, Marley Spoon’s chief growth and marketing officer, says the international subscription-based meal business will use data in its revitalization phase to help guide consumer behavior. I mentioned that I use triggers all the time.

Credit: The Trade Desk

“First-party data only works when you try us,” Whitney said. “Perhaps you decided not to sign up now, or you went on vacation and canceled your subscription. Use it to get you back again.

“You are going about your day harmlessly and you may see a reactivation message from us. so we have front door info, email, credit card, the only thing we don’t capture is age, this gives us very good access to our customers and when they make a transaction. And with the built-in Everyday Rewards and Upstreet Share Rewards platform, we have a much better data system going for reactivation than activation. increase.”

Whitney said Marley Spoon plans to use these triggers more through its own Customer Data Platform (CDP), which comes online this year.

Such investments in alternative methods of enhancing data-driven marketing are paramount. Despite recognizing that cookies are being phased out, it’s clear that many brands still rely on cookies for advertising and marketing measurement.

Credit: The Trade Desk

CMOsLatest of Current state of CMOs A 2022 study reveals senior marketers will focus on moving from third-party data sources to first-party data sources in the next year. Half of the respondents said the change was important, 24% said it was somewhat important, and only 6% said he had already moved away from third-party data sources.

But our research clearly shows real preparedness. Even today, about 60% of personalization relies on his cookies from third parties, and he is only one-third of marketers feeling ready to deal with the loss of cookies.

James Bayes, GM of The Trade Desk, positioned the move away from third-party cookies in a positive light, saying that the perception that digital marketing will lose its ability to target and measure impact is false. rice field.

Credit: The Trade Desk

“Given permissions, data governance, consumer protection, and our brand responsibility to ensure they are all stronger, it’s hard not to see cookie deprecation as a really good thing from a consumer perspective. ‘ he said. “And while the dataset may get smaller, we believe the impact of what you have and how you can use it will grow over time, not the other way around. It just washes away the nasty and notorious stuff.”

But Bayes warned brands against simply hoping for a technological solution to replace cookies. Instead, he encouraged brands to invest in data strategies to better connect with next-generation audiences.

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