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BizReport : Internet : October 19, 2020


Study: Brands unprepared for end of third party cookies

Many experts believe the end of third party cookies is upon us, and while many do admit that first part data is generally a better source of consumer information, most brands aren't ready to lose access to third party data. That is a key takeaway from new LiveIntent data. According to researchers more than than half (64%) of executives are concerned about how they can engage shoppers without third party cookie data.

by Kristina Knight

Three of the biggest search platforms - Google, Firefox, and Safari - have announced plans to eliminate their use of third party cookies, a move that could hinder brands' ability to understand what consumers need and want in the digital space. Consumers have become more vocal in their fears of how their data is collected, stored, and used. The problem is that without data brands and publishers don't know what people visiting their sites are in need of, which leads to less relevant and personalized experiences.

With platforms working to phase out cookies because of consumer concerns, many marketers are unsure how to proceed. According to LiveIntent data 39% of executives say their business 'has no plan' to bridge the gap left when cookies are no longer used for marketing purposes. Researchers further found that of those of who have a plan (61%), almost half 'are not confident' (48%) in that plan.

"Brands and Publishers have a unique opportunity to control their destiny in an era of third-party cookie deprecation," said Brian Silver, President at LiveIntent. "The truth is, by leveraging a combination of first-party data and the power of email with a forward-looking Identity framework, brands and publishers will be able to enjoy all the features, functionalities and profit of the walled gardens on their own properties. But in order to do this, it requires urgency. When determining which identity solution to work with, both publishers and brands should ask themselves several key questions. They include if customers come first for you, where the provider's data sourced is sourced from, what the provider's linkages recency and frequency are, what the provider is modeling, and if, overall, the graph being offered will help you achieve your goals."
Other interesting findings from the LiveIntent report include:

• 82% of execs say there have been 'fewer than 5' meetings on how to proceed in a cookie-less world
• 87% believe they will have a plan in place before cookies are gone
• 64% say they are 'somewhat concerned' about the general future of digital advertising without cookies

More data from LiveIntent's report can be accessed here.






Tags: advertising, advertising cookies, cookie-less advertising, digital advertising, ecommerce, LiveIntent, third party data trends








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