As a marketer, you know that the digital landscape is always changing. That’s why it’s important to make sure you’re equipped with the right tools every step of the way – no matter how rapidly things change. You want to ensure your strategies and tactics stay ahead of any changes in technology or consumer behavior, so what new marketing strategies should be in your toolbox in 2023?
Discover what industry leaders from Experian, Adweek, FreeWheel, Tubi, and Instacart had to say about what should be in every marketer’s toolbox in 2023 at Cannes.
Keep reading to learn the top four new marketing strategies you need in your marketing toolbox for 2023 and beyond.
1. A plan for signal loss
The first item you should have in your marketing toolbox is a plan for signal loss.
The phasing out of third-party cookies presents both a challenge and an opportunity. This shift not only poses challenges but also opens up opportunities for alternative strategies.
On the one hand, it makes it more difficult to track users across channels and measure the effectiveness of marketing campaigns. On the other hand, it forces marketers to focus on building relationships with their customers and collecting first-party data.
Consumer behavior is changing
When we consider signal loss in a traditional sense, we think of the implementation of iOS 14, where we couldn’t track click-based data from campaigns. It’s important to reflect on the fact that the paid media ecosystem needed to adapt to new consumer realities.
Younger demographics are less likely to click on ads and instead engage in video environments. They discover brands through platforms like TikTok or Instagram. It’s crucial to understand how people behave, where they discover products, and where influence takes place. This understanding becomes even more vital when targeting a young audience demographic.
Four things to consider when planning for signal loss
There are four things you should consider when building out a plan to address signal loss and fragmentation.
Channel diversification
You need to reach your customers on the channels where they are already spending time, such as social media, email, and your own website. You should work with platforms that have first-party data to understand how your customers interact with your brand.
Data privacy
You need to be transparent about how you are collecting and using customer data. You should also anonymize data whenever possible.
First-party data
First-party data is now more crucial than ever, awakening its importance in shaping our actions. The combination of channel diversification and first-party data will be essential in the years to come. By focusing on these two areas, you can build stronger customer relationships and create more effective marketing campaigns.
Contextual targeting
Contextual targeting is emerging as a viable method to deliver more relevant content to your intended audience.
By embracing signal loss, the alternative new marketing strategies that are emerging as a result, and adopting a privacy-centric mindset, you can navigate cookie deprecation.
2. Collaboration
The second item you should have in your marketing toolbox is collaboration within the AdTech ecosystem.
To address signal loss and changes in privacy, moving toward a more collaborative, holistic marketing ecosystem is key.
Two ways we can achieve better collaboration
Here are two ways we can create better collaboration in the AdTech ecosystem.
Enable interoperability
We should aim to create an ecosystem that fosters collaboration between marketers, publishers, advertisers, ad tech companies, and more. When we enable seamless interoperability, everyone can use the best data available.
Use clean rooms
We are witnessing a growing trend of collaboration between parties, where buyers and sellers share data in these secure environments. Clean rooms can help us develop data strategies in a controlled manner.
3. Generative artificial intelligence (AI)
The third tool you should have in your marketing toolbox is generative AI.
Benefits of implementing AI
There are three main benefits to implementing AI within your marketing strategy.
Enables creativity
Although AI and machine learning have long been part of our toolbox, this moment marks an extraordinary acceleration that expands our capabilities. Copywriters can now create visuals, and art directors can write compelling copy. It’s an extension of what we’re capable of, potentially alleviating the burden of repetitive tasks and enabling more time for collaboration, creativity, and strategic thinking.
By embracing generative AI, we can preserve valuable talent, prevent burnout, and invigorate the advertising industry.
Enables more personalization
The rise of personalization with AI has significantly increased the demand for tailored experiences. People now willingly allow AI agents to read their emails, hoping for quicker and easier responses. This shift signifies a change in the previous emphasis on privacy and consumer preferences. Consumers now see the value in exchanging personal information for more targeted services.
E-commerce has already witnessed this transformation with customized ads based on individual preferences and behaviors. For instance, if a CPG brand notices you’re not purchasing meat, they won’t serve you ads for meat products.
However, it’s crucial to strike the right balance between being useful and intrusive. Users want relevant information that aligns with their needs without feeling intruded upon.
As we navigate this path, we must ensure that personalization remains beneficial and respectful of user preferences.
Helps drive impactful results and customer satisfaction
The tool is a perfect analogy for improving your job performance and business operations. Having the right data input to feed the machine is crucial, just like using the right ingredients to cook a perfect meal. Keeping the consumer in mind throughout the process is key. You can ensure customer satisfaction by putting the right ingredients in and allowing the machine to work its magic. Scaling up, repeating, and refining the process will drive impactful results.
4. First-party data
The fourth item you should have in your marketing toolbox is first-party data.
Benefits of implementing a first-party data strategy
Moving from a third-party cookie world to a first-party cookie world brings about significant transformation. Here are two benefits of implementing a first-party data strategy.
Greater accuracy
The shift to first-party cookies ensures greater accuracy, enabling us to establish critical mass through secure partnerships. This empowers us to strengthen and refine our personalization capabilities, much like Amazon’s ability to anticipate customer needs before they arise. When you can predict and understand customer behaviors with remarkable precision, you can reach your customers with tailored and creative ads.
“Building a robust first-party data strategy should be a central discussion for marketers, involving key stakeholders such as CEOs and CMOs. Quality and precise data are paramount, and while first-party relationships with consumers form the foundation, even established brands benefit from strategic partnerships. Together, we can unlock the potential of accurate and meaningful data-driven marketing.”
jeremy hlavacek, cco, experian
Identify high-growth audiences
First-party data can help you identify audiences with the greatest growth potential, ultimately optimizing marketing dollars for greater efficiency.
Watch our Cannes panel for more new marketing strategies for 2023
We hosted a panel with Adweek in Cannes that covered what should be in every marketer’s toolbox this year. Check out the full recording below to hear from leaders at Tubi, Freewheel, Instacart, Adweek, and Experian.
Check out more Cannes content:
- Our key takeaways from Cannes Lions 2023
- Insights from a first-time attendee
- Exploring the opportunities in streaming TV advertising
- The future of identity in cookieless advertising
- Maximize ad targeting with supply-side advertising
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Identified in The 2021 Digital Advertising Trends Report published by Postclick, marketers are striving to improve and enhance their segmentation and targeting strategies in their digital ad campaigns. Carlos Lopez, SVP of Brand Planning at Digitas Health predicted that in 2021, the challenge will be to overcome the death of third-party cookies and still deliver a personalized advertising experience. It’s fair to say that his prediction will still be impacting marketers past 2021 with the delay of cookie deprecation. These goals along with the constantly changing digital landscape paint a challenging picture for even the most advanced marketers. Marketers can be prepared for the next era of digital marketing by finding the right mix of partners that offer privacy-safe, cookie-free solutions. Smart marketers will employ these solutions and compare these results with data from cookies. The Tapad + Experian Take The Tapad Graph enables brands, agencies, and ad tech platforms to identify and target individuals and households across their digital touchpoints. With this data, they can personalize messages across devices, measure and optimize throughout the customer journey, and then report back on conversions at the individual and household levels. Tapad, now part of Experian, leverages a machine learning algorithm that determines these connections at scale by using probabilistic models with authenticated, privacy-safe, real-time data. There are a myriad of cookieless IDs emerging in the marketplace, and it’s not likely going to be a one size fits all situation. In order to be prepared for the next era of digital marketing, marketers should diversify ID partners and be proactive with testing while the cookie is still around to benchmark against. With Switchboard, a module within The Tapad Graph, we’ve been able to develop connections between traditional digital identifiers (IP Addresses, MAIDs, CTV IDs) and the new wave of cookieless IDs (UID2.0, Panorama ID, ID5 ID) that will be utilized in the future. Here’s an example of what The Tapad Graph and Switchboard looks like at the Household level with various traditional digital identifiers and cookieless IDs. Get started with The Tapad Graph For personalized consultation on the value and benefits of The Tapad Graph for your business, email Sales@tapad.com today!
Marketers are under more pressure than ever before to prove ROI and efficiency of marketing activities in relation to business performance. On top of that, there are new privacy regulations and uncertainty around what new technologies will have to be implemented in order to replace the granular level targeting and measurement the industry historically has used third-party cookies for. It’s clear marketers are going to need the right tech stack and partners to continue to prove their team’s efficacy. We recently partnered with Forrester Consulting to evaluate the current state of customer data-driven marketing and surveyed over 300 global marketing decision makers at the brand and agency levels. We found that marketing is facing increased demands today, insights from the study include: Consumers expect brands to deliver engaging experiences across highly fragmented journeys. Seventy-two percent of decision-makers reported that customers demand more relevant, personalized experiences at the time and place of their choosing. Marketing runs on data, but the rules governing customer data usage are changing quickly. More than 70% of study participants stated that consumer data is the lifeblood of their marketing strategies, fueling the personalized, omnichannel experiences customers demand. These demands paint a challenging picture. Just as marketers are poised (and tasked) with delivering greater value to their organizations and customers, the ground rules are changing and threatening their ability to deliver. Indeed, 62% of respondents said that the forces of data deprecation will have either a “Significant” (40%) or “Critical” (21%) impact on their marketing strategies over the next two years. Effective identity resolution can help brands prepare for data deprecation challenges Marketers face a daunting landscape, but they can leverage the data, technology, and processes that comprise identity resolution to address business objectives, combat ecosystem complexity, and future-proof customer engagement efforts. By utilizing identity resolution, marketers will be able to match and connect multiple identifiers across devices and touchpoints. This allows for a cohesive, omnichannel view that enables brands to continue to deliver personalized and contextually relevant messages throughout the customer journey and without the use of cookies. The identity graph is the underlying infrastructure that defines connections between the numerous, fluid, and disparate identifiers created during moments of consumer engagement, turning disparate signals into addressable and actionable steps. These connections enable brands to bolster their ability to gain deeper customer insights and power audience building, attribution, and connected measurement. Identity resolution encompasses a wide range of capabilities that support an equally diverse set of marketing use cases. These include the targeting, personalization, and measurement of both known and pseudonymous audiences in the offline and digital worlds, which enables marketers to improve customer data management, drive more effective personalization, and gain insights and efficiencies through measurement across touchpoints. By taking the time to vet the privacy procedures and data collection processes of identity solutions you can reduce your regulatory risk and maintain customer trust. In an open-ended survey response, a marketer shared, “We’ve found that users are willing to volunteer data when they understand what it’s being used for and are asked for clear consent.” Finding the right partners to help navigate the changes The scramble to find an alternative to third-party cookies has slowed down since Google announced they will be delaying their cookie removal until late 2023. However, this gives marketers a unique opportunity to take advantage of the additional time and feel more prepared and confident in their solutions. With the delay, marketers can now test ID solutions and compare apples to apples with data from the third-party cookie while it’s still active and addressable. Test and find a solution that works now, so there are no surprises once cookies have finally made their way out the door in 2023. At Tapad, a part of Experian, we’ve developed a solution that provides agnostic interoperability for the myriad of cookieless identifiers emerging in the market. As a new module in the Tapad Graph, Switchboard will connect traditional digital identifiers to cookieless IDs to support the entire ad ecosystem with privacy-safe future-proof identity resolution. Get started with The Tapad Graph For personalized consultation on the value and benefits of The Tapad Graph for your business, email Sales@tapad.com today!
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