“Everything will still blow up in your face despite Google’s delay,” warns Braidr data boss
- Analysis shows that <1% of CMOs are talking about a cookie-free future.
- 11% of US marketers were attracted to the conversation about Elon Musk.
- A data expert warns that not enough marketing leaders are “data ready”.
US marketing leaders are more interested in discussing Elon Musk than dealing with the consequences of a future without 3rd party cookies.
Despite Google confirming last week that there is a surprise delay until 2024 when it comes to phasing out cookies, marketers are being warned that they need to get their houses in order, now, or businesses will suffer financially.
Data collected by a data intelligence firm, Braiderwhich indicates that less than 1% (0.83%) of Chief Marketing Officers (CMO) in the US are having critical discussions about the cookie-free future and the significant impact the change will have on their businesses.
Braidr has analyzed the Twitter profiles of more than 15,000 CMOs and similar professional roles across the US and UK over the past 12 weeks.
Far from being part of perhaps the most significant digital transformation since the introduction of mobile technology, the role of AI in business confuses marketing leaders.
Most are failing to discuss the impact the loss of third-party cookies and increased privacy demands will have on marketing – and on company finances, if not mitigated soon.
Dora Moldovan, co-founder and managing director of Braidr, said:
“It’s worrying and worrying that nobody is paying much attention to the biggest online change we’re facing.
“Despite Google announcing a short delay, the next e-generation is happening very quickly, where everything we’ve learned in the last 20 years, and the tools we know, will disappear, but CMOs are mainly talking about AI, the Metaverse and Elon Musk.
“While all of these topics are exciting and sometimes entertaining, none of them will have an immediate impact on the bottom line with the sunset of 3rd party cookies.”
As a leading expert on the cookie-free future and in data science, Moldova’s advice for CMOs and marketing leaders around the world is in short supply:
“You must be asking yourself a vital question today, and not delaying until tomorrow. Is the data ready? Are you really ready to detail everything that will blow up in your face in 2024? Because it will!”
Since Apple announced changes that make Identifiers for Advertisers (IDFAs) much less valuable than before, marketers have seen changes to their marketing costs and results that are impacted (especially on FB ads) and this is set to increase when Google removes 3rd party cookies from its Chrome browser.
Additionally, Meta last week announced its first-ever decline in revenue, blamed in part on Apple’s privacy changes — making it harder for Meta to extract user data for its targeting algorithms.
This has hurt not only advertisers but also the platforms themselves. The advice given by the likes of Google and Facebook is to go to 1st party data measurement, attribution and activation.
But Braidr’s study of Twitter discussions among senior marketers shows that few are giving the topic the attention it deserves, with 14% of US CMOs engaged in discussions about business strategy, including digital transformation.
Data issues, such as business transformation, account for 15% of marketers’ Twitter conversations, while 11% discuss Elon Musk.
Facebook, Metaverse, Web3 including blockchain, make up another 14% of their conversations.
“If we fail to deal with the future, businesses will suffer. They will pay all odds to buy media to find the same customers they’ve had so far,” Moldova offers.
“For smaller brands that want to cut it globally, it’s going to be too expensive because the targeting is going to be very broad, and it’s going to be difficult to achieve segmented targeting, reaching the customers they really want .”
Braidr says the answer lies in data: from the way businesses do tracking (moving towards server-side and API-based) to implementing Google Ads Improved Conversions and FaceBook CAPI.
Braidr points marketing leaders to Google Analytics 4 (GA4) or alternative products that can collect data without relying entirely on cookies, as well as attribution and marketing mix models and the holy grail of the cookie-free future – 1st party data activation .
Marketers’ focus should shift to understanding as much as possible about their customers: their behaviors (online & offline), their attitudes and beliefs outside of their brand touchpoints, and their social presence/fingerprint .
Braidr, part of Tomorrow Group, launched last year and won some big name global customers. The agency acts as an outsourced ‘chief data officer’ for customers, and is the critical bridge between non-data IT and marketing expert teams.
Moldavian Finishes: “The cookie-less future is here and knowing everything about your customers will be essential. Failure to know will cost your business dearly. If you need help preparing your data for the future, Braidr is here to help.”
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US marketing chiefs are more interested in Elon Musk than a cookie-less future –
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