How Will Cookieless Future Affect Brands in 2023 as it’s Pushed out to Happen in 2024
Moving from third-party cookies to a cookieless future option - first-party data - is going to be somewhat of a challenge for brands as they need to build more personalized relationships and understand their consumers better.
In the technology industry, data privacy concerns and data regulations are rising as Google is slowly making the transition to first-party data. Starting effectively in 2024, brands need to find more personalized ways to obtain consumer or visitor information and data.
In our honest opinion, the faster the brands are to adapt to the first-party data collection method, the more successful they will become in the market.
Google was to eliminate the third-party cookies in 2022 originally, but the brand wanted marketers to have more time to change their ads strategy so it pushed the launch of first-party data until 2024. There was so much pressure from the government about the regulations, especially considering GDPR, Google had to execute such a decision.
In this case, how is this first-party data collection affect brands?
The most critical effect will be the relationship building between brands and their customers. Companies need to have more personalized relationships with their customers based on trust. Brands used to assume that their visitors or consumers were willing to share all their data, but this wasn’t always the case.
With third-party cookies phasing out, brands need to work harder and be more transparent and honest with their offers to gain customers’ trust. Brands simply need to make sure they’re creating some kind of value for their customers. At the end of the day, your customers need to qualify your brand to see if it fits their standards to make a purchase and to share their personal information firsthand.
We believe the most significant difference between third-party cookies and first-party data is the ‘legal permission’ and ‘real permission’. When the first-party data takes full effect, consumers will give brands permission to directly market to them because they’re already interested in that brand’s products and services. It’s a great way for brands to raise awareness, build recognition and increase sales with directly targeted advertising and honest relationships.