There are implications for the advertising industry as it navigates new data privacy and compliance rules:
- Reliance on third-party cookies has been estimated to lead to a 36-per-cent decrease in measured and reported ROAS.
- There will be a shift towards probabilistic reach and more people-based measurement.
- An IRI study found “virtually no difference” in sales lift results when food and non-food brands captured 25 per cent or 50-per-cent fewer iOS mobile IDs.
Why it matters
While deprecation of data will be disruptive, especially in the short term, impending changes create new urgency to build a stronger data ecosystem. A growing reliance on high-quality first-party data will create huge opportunities in technical and creative innovation and will help publishers and advertisers provide more relevant and engaging advertising content.
Change brings new opportunities
For some, however, a reliance on high-quality first-party data will create huge opportunities in technical and creative innovation, forcing many involved in the industry to re-examine the well-established, early principles of advertising: to find the right people, in the right place, at the right time.
For this to work successfully, publishers, advertisers and brands will need to collaborate to ensure that future relationships with consumers are built on the trusted exchange of information.
The digital advertising industry is defined by change. It is accustomed to meeting new challenges and discovering innovative solutions. But let’s not forget that the legacy advertising ecosystem is far from perfect. As new rules are introduced, there is a renewed awareness of current privacy-compliant targeting practices and opportunities to leverage first-party data.
The reliable measurement currency – sales data
As the data-decision driven world continues to evolve, the marketing space is seeing marketers, category and brand professionals alike held more accountable than ever for success and delivering results – not just with vanity metrics like clicks and engagement, but perpetually trying to understand how these convert into sales.
Whilst retail sales data has been a staple of media and marketing research, its richness and utility can be further enhanced when used with IRI’s MarketLift. This powerful solution can help you ensure that your investment decisions are backed by data-driven and proven market strategies, that deliver sales uplift.
Take the guesswork out of your investments and prove they are contributing to the growth of your brand. Before we enter the post cookie world, utilise this time wisely to test new ways of targeting consumers – whether it be contextually, across new channels, creative executions or using your
growing database of first-party data. Now is the perfect time to test your new strategies and measure it against your actual sales, using a reliable and proven method.
Campaign with confidence, download our latest e-guide to understand how you can quantify the impact of your marketing campaigns.