Evolving Your Data Strategy: Privacy and Personalization United
Privacy by default is the new norm for the advertising industry. A fragmented video ecosystem, new data protection legislation, and changing attitudes toward privacy are forcing advertisers to reevaluate their audience targeting strategies.
Now is the time to thoughtfully rethink the fundamentals of targeting strategies to accommodate forthcoming changes to the privacy landscape. Evaluating your audience data strategy can seem overwhelming, but we’re here to help you to prepare for a sustainable and successful future.
State of Identity and Privacy
Google’s announcement deprecating the third-party cookie by 2023 and Apple disabling its identifier for advertisers (IDFA) by default earlier this year have fundamentally impacted the way in which advertisers can target and reach consumers. From ad tech partners to device manufacturers, companies are responding by taking a firm stance on how data can be used ensuring that this new identity era is being built on trust and transparency.
One important thing to note is that these announcements affect audience-based advertising in browsers and mobile environments. CTV continues to remain addressable and measurable due to its reliance on subscriber data, user authentication and IP addresses for targeting.
New Identity Solutions Gaining Traction
The industry needs to band together to create and develop new solutions that protect a user’s privacy while still allowing for identity based advertising. Here are a few that are gaining traction:
- Universal ID solutions such as Universal ID 2.0 and LiveRamp’s Ramp ID, offer common identifiers for users on desktop and mobile devices that can be used by any vendor in the ad tech industry. These IDs are passed in the bid stream, allowing buyers to transact similarly to how they would with cookies, but with improved transparency for the consumer.
- Google has created a working group, called Privacy Sandbox, to develop a privacy-centric solution allowing advertisers to maintain the targeting options they have today.
- The IAB created the Project Rearc initiative in which brands, agencies, publishers and tech companies band together to develop new global privacy standards. So far, the IAB Tech Lab has proposed a number of standards for responsible addressability and predictable privacy.
These new identity solutions can help you reach targeted audiences and boost campaign performance while adhering to these new privacy-centric norms.
Evolving Your Approach to Audience Data
Let’s be clear, data-driven advertising isn’t going anywhere. However, it is evolving to become more privacy-conscious. Utilizing addressable targeting, contextual targeting, and supply side data can help form a cohesive identity strategy in a privacy-compliant manner at scale.
- Addressable targeting can be activated through your own first-party data, publishers’ first-party data or universal IDs.
- Contextual targeting can be utilized as a complementary strategy to your overall audience targeting, enabling you to achieve broad reach while still serving relevant ad experiences to your consumers.
- Publishers are collecting permissioned, authenticated supply-side data including demographic, geographic, and behavioral data that can provide you with a rich view of your audience.
- Take advantage of the improved forecasting as well as the data connections available through your publisher partners to make more informed investment decisions and gain significant downstream efficiencies.
A flexible, customizable approach to your data strategy is the best way to meet your campaign objectives. Advertisers need to invest in their data strategies and closely collaborate with supply-side partners to fuel data-driven personalization. For more information on how to future-proof your audience strategy, download the Advertiser’s Guide to Audience Data or reach out to email@example.com.