We catch you up on the latest from IAB’s research and measurement experts, as they recently broke down key highlights from the fifth annual State of Data Report — which looks at how 200 industry data leaders are preparing for changes in measurement and addressability. Read on for the advice given to marketers who are wondering how and when they should prepare for the anticipated loss of third-party cookies and identifiers.
Last week, the Interactive Advertising Bureau (IAB) presented its fifth annual State of Data Report during a webinar with Chris Bruderle, vice president of research and insights at IAB, and Angelina Eng, vice president of measurement and attribution at IAB. Ryan Fleisch, head of product marketing at Real-Time CDP and audience manager at Adobe, and Ben Sylvan, our GM of data partnerships, joined in the second half of the webinar, sharing an overview of the first-party data landscape.
The report looks at how 200 industry data leaders are preparing for changes in measurement and addressability. Sixty percent of these leaders expect campaign measurement to be impacted by the anticipated loss of third-party cookies and identifiers. According to the report, IAB is already seeing a significant financial impact from these changes across all channels, including Connected TV (CTV), yet less than half (45 percent) of leaders are said to be collecting enough first-party data for audience matching. Many respondents believe revenue will not be affected. These findings could indicate a false sense of confidence among industry leaders, who have yet to realize the magnitude of these changes and pivot their strategies accordingly.
Eng stressed the need for collective action across the industry. She urged leaders to invest in resources that allow for continuous evolution as regulations change. She highlighted that collaboration with industry partners to establish a common language and universal standards for cross-channel measurement should aid the transition to a cookieless future.
After an analysis of the report, Sylvan and Fleisch discussed maximizing first-party data and the need for a consumer-first identity and privacy solution. A partnership between us and Adobe will allow users to upload customer relationship management (CRM) audiences to our platform and activate them across media channels.
Respecting and building trust with consumers will be key to moving forward, according to Fleisch. Gone are the days when you simply needed to know your consumer. Now you need to honor the consumer’s preferences and get their consent. Fortunately, consumers are gradually understanding the quid pro quo nature of the internet, where they give publishers the ability to send targeted ads in exchange for access to free content. Sylvan views email as the backbone of Unified ID 2.0, since digital services like CTV and audio streaming require an email login.
The speakers increasingly see marketing tech and ad tech coming together to create unified campaigns rather than sitting in separate silos. Agile thinking and continued collaboration between partners and departments could help publishers thrive in a post-cookie world. “Everyone’s role is to have a basic understanding of the foundations affecting the industry,” Eng concluded.
What actions can be taken today?
With cookies going away, you need to understand what first-party data you have available instead of waiting to see the impact in 2023. With CRM onboarding on our platform, you can take the initial step to understand your first-party data, thereby helping to extend reach to existing and potential customers alike.
Interested in knowing more about CRM onboarding on The Trade Desk?
Discover how you can maximize the potential of your first-party data with CRM onboarding.