Last week I discussed in an article some of the data driven ways advertisers can start preparing for cookie deprecation later this year.
Today, it’s about some of the strategical ways advertisers can start preparing. But first, it’s good to understand what exactly advertisers are going to notice when it all happens in Q4 this year, during one of the biggest retail periods of the year.
The three key areas advertisers will instantly notice have change are:
Behavioural Retargeting
Detailed Targeting
Pixel Based Attribution
Based on this, here are some key areas that you should be discussing with your agency, CMO and even CEO.
It's time to start filling your upper funnel, for too long a lot of advertisers have focused on the measurable and attributable channels, but your measurement in these channels have been degrading for some time now and it's about to get even worse.
Don’t rely solely on your in-platform metrics, start testing the cause and effect scenarios of CTV or podcasting in-market, and how your organic search volume or brand keywords are affected.
Test broad targeting, don’t freak out, but broad targeting isn’t as scary as you might imagine, brands like Coca-Cola and Pepsi did a pretty good job at building a brand and selling products before they could measure direct ROAS from an ad. And remember, the more targeted you are, the more expensive it is to reach an audience… it doesn’t always add up when you run the numbers at the end of the day.
The details in your data, it’s time to get into the spreadsheets or dashboards and start building insights into seasonal periods, retail periods, offers, and channel investment across the years against sales.… it’s time to look at the big picture and not rely and plan solely on platform measurement. I should say, MMM's play a massive role here, however it's about finding the right one for your business and budget.
At the end of the day, it’s time to start testing, testing and more testing. Go back to basics, use the data you have and start building a future proof strategy that doesn’t rely solely on the performance of your lower funnel, attributable channels.
If you’re interested in discussing all of this and more, please reach out in the contact form below.
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