Traditional Retargeting Ends ... a Better Way Begins
If you’ve been following our updates, you know the third-party data situation boils down to four words: Marketers are in trouble. Traditional cookie-based retargeting methods were becoming less effective due to shifting data privacy attitudes. That was up until about two years ago, when Google announced it would wind down and kill off cookies. Whether you look at the situation from a systemic or individual perspective, the old ways of data collection are under attack on all sides. It's time to look for a retargeting alternative.
Key takeaways:
- Marketers must pivot to new data collection methods as traditional cookie-based tracking loses viability due to privacy regulations and tech changes.
- Solutions like first-party data collection, Universal IDs, and device fingerprinting are emerging, each with unique challenges including low adoption rates, regulatory vulnerabilities, and technical complexities.
- fullthrottle.aiTM offers a groundbreaking, privacy-first retargeting solution leveraging cookieless first-party data and Immersive Household®️ marketing, setting a new standard for engaging audiences effectively.
Marketers are now facing the pressing need to adapt, as the tools they've depended on are losing their effectiveness. A survey highlighted by HubSpot reveals the extent of the challenge: 41% of marketers are concerned about their ability to track the right data, while 44% anticipate needing to increase their budgets significantly to achieve the same objectives they had in the previous year.
Now that Google’s countdown to cookie Armageddon has officially started, the vice is tightening for marketers who haven’t moved to first-party data. Brands need ways of collecting quality data in a way that respects user preferences and privacy. Not only that, they need the data to be useful. If a brand collects data but doesn’t activate it, what’s the point?
Solutions Marketers Are Turning To in the Cookie Crisis
The statistics paint a vivid picture of the turmoil. According to HubSpot, over half of marketers are diving into alternative targeting solutions, with 85% acknowledging their marketing activities' reliance on third-party cookies to some extent. The same study highlights the apprehension within the industry, with 77% of marketers expressing concern that Google's cookie phase-out will complicate their marketing efforts.
Marketers are scrambling, testing every conceivable solution to find a new key to consumer re-engagement. The problem? Amidst this chaos, no clear victor has emerged. Every potential solution seems to come with its own set of imperfections or suffers from lackluster adoption rates.
Universal IDs
Universal IDs offer a promising alternative to traditional cookie-based tracking, aiming to create a consistent user identifier across different publishers and platforms. Despite the potential, their current adoption rate remains below 1%, indicating that the industry is still in the early stages of embracing this technology — if at all.
Pros
Cross-Platform Tracking: Enables tracking across different websites and platforms using a single ID.
Collaborative: Supported by various publishers and AdTech companies, fostering a cooperative ecosystem.
Cons
Privacy Concerns: Still raises privacy issues, as it involves third-party tracking of individual behavior.
Adoption Variability: Effectiveness depends on widespread adoption across the industry.
Device Fingerprinting
Device fingerprinting has emerged as an alternative method of tracking users by collecting information about their devices and online behavior. However, it's important to recognize that this technique still relies on third-party data collection, making it susceptible to the same privacy regulations that challenge cookie usage. While device fingerprinting can offer a level of granularity in tracking that cookies cannot, its future viability is contingent upon evolving privacy laws and browser policies.
Pros
Hard to Block: More difficult for users to block compared to cookies (could also be a con, since this opens up regulatory scrutiny).
Unique Identification: Provides a unique way to identify and track devices
Cons
Privacy Intrusion: Considered invasive by privacy advocates and may face regulatory challenges.
Complexity: More technically complex to implement and maintain.
First-Party Data (Without a Data Partner)
First-party data is all the rage in the wake of cookie deprecation, but it has a major caveat — making it work on your own is a difficult process that requires tons of resources. Without a data partner, a comprehensive first-party data strategy is simply out of reach for small- or medium-sized businesses (still, there are options, as we'll outline below).
Pros
Privacy Compliance: Directly collected from the audience, it aligns well with privacy regulations.
Higher Accuracy: Data is collected from direct interactions, ensuring relevance and accuracy.
Brand Loyalty: Enhances customer relationships through personalized experiences.
Cons
Limited Scope: Limited to interactions with the brand, potentially missing broader audience insights.
Resource Intensive: Requires robust infrastructure, maintenance, and strategies for collection and analysis.
As the industry navigates this transitional period, the quest for a privacy-compliant, effective retargeting strategy continues, with the hope that a viable, widely accepted solution will emerge. This is where fullthrottle.aiTM comes in. We take the labor out of first-party data and provide you with a turnkey solution.
fullthrottle.ai's Supercharged Retargeting Solution
We have a groundbreaking solution powered by patented technology that addresses the current challenges and sets a new standard for engaging with audiences. Our approach redefines retargeting with cookieless first-party data generation and activation in one low-touch platform. In other words, we’re not just a data provider — we’re a partner. We use opt-in location tracking to target an entire household’s decision-makers, ensuring that marketing messages resonate more broadly and effectively. It’s called Immersive Household®️ marketing, and the results speak for themselves.
At the core of fullthrottle.ai's strategy is an AI-driven buyer propensity model that meticulously identifies visitors most likely to convert, allowing brands to instantly engage these high-potential households. What sets this approach apart is its direct linkage of marketing efforts to actual business transactions, offering unparalleled clarity on ROI and campaign effectiveness.
fullthrottle.ai's supercharged retargeting solution marks a significant leap forward, addressing the industry's urgent need for a privacy-first, efficient, and comprehensive retargeting method. By focusing on households rather than individuals and grounding marketing efforts in tangible results, we’re navigating privacy concerns and regulatory changes while pioneering better ways to maintain customer engagement and drive conversions.
