Over the last few decades, we’ve witnessed a plethora of rapid change and advancement in the digital advertising world. Specifically, during the last few months, there has been a shift of focus in both technology and consumer behaviours.
Currently, third-party cookies generate their own identifiers for each user across each device, leading to massive and disjointed data sets. This makes it difficult to deliver the end-users with relevant, personalised digital advertising experiences. Because of this unfriendly user experience, brands have been searching for a flexible, consumer-first solution that they’re able to scale on the open web. On a parallel path, publishers want to help marketers achieve their individual goals, make the user experience more enjoyable, and boost CPMs.
With people-based marketing, the digital advertising industry has the opportunity to serve relevant ads to the right users. By using these common identifiers, marketers can more effectively measure and personalise their campaigns, using compliant customer relationship management files instead of third-party cookies. In a similar vein, publishers can utilise their own first-party data (e.g. subscribers’ preferences) to enhance advertisers’ campaigns, boosting engagement and revenue flow for all involved.
Putting the consumer back into the heart of digital advertising
Data can fuel great advertising experiences but if used incorrectly, can cause negative repercussions – i.e Cambridge Analytica scandal. Consequently, users have started to navigate the web with an even greater sense of mistrust.
In today’s ecosystem, opaque algorithms are making assumptions and decisions about the consumer based on data, that no one can see and that no one has any visibility into. Because of these practices, regulators have leaned into major legislation changes such as the General Data Protection Regulation (GDPR). The digital advertising industry must ensure that the user understands the motivations behind capturing their data, and users must be confident that their data is being used and stored in a compliant way.
By utilising the data in a compliant manner, marketers and publications are able to deliver the most relevant messaging and advertising to the user. People-based identifiers are able to bridge this gap and ensure that all available, relevant and compliant datasets are brought into play to provide the best experience for the user.
Solving for inefficiencies to better the user’s experience
It comes as no surprise that third-party cookies were used to measure and target consumers behaviours online. Currently, users’ data is being collected everywhere, stored in different locations, and then used to communicate disjointed messaging. Consumers have all experienced being served an ad by an item that was already recently purchased. This has led to persistent frustrations – with 74% of users feel disappointed when website content is not personalised to their needs.
This should lead us to pause and reflect “Is this the right approach for the user?” As we start to compile potential solutions it is important that the ecosystem remains committed to the vision of protecting the user’s privacy and build a collaborative strategy that places trust at the vanguard.
With the introduction of people-based marketing to the open web, we will see greater addressability and more opportunities for buyers and publishers to unlock opportunities that were once unobtainable.
The future as we see it with people-based advertising – will lead to a stronger future for the industry. Users will be able to enjoy a fully consented, personal advertising experience, brands will be able to obtain more actionable outcomes and publishers will be able to receive boosted revenue returns and can continue to provide premium content. We have the opportunity to create a mutually beneficial ecosystem where all parties benefit.