Google Announcement To Completely Phase-Out 3rd Party Cookies In 2023
In response to Google's announcement made in 2020 January that 3rd party cookies will be phased-out as of 2023, many marketers are preparing for big changes in the near future.
While this may create some challenges for marketers in the short term, it is also important to keep in mind that this change will also present new opportunities;
In particular, it provides marketers with a chance to focus on developing more innovative and effective marketing strategies. Ultimately, while the end of support for third-party cookies may be a cause for concern among some marketers, it is also an opportunity to embrace new and innovative marketing approaches.
This is largely because Chrome is the most popular browser in use today, with 65,14% of the market share globally according to StatCounter Global Stats(2022); thus, the decision to end support for third-party cookies will have a significant impact.
Most advertisers understand the concern about online privacy on a personal level. Consumers are cautious about their private information being tracked by computers and becoming more aware of their online privacy rights. As a result, many consumers are opting out of third-party cookies and tracking. This has led to advertisers finding other ways to reach their target audiences with a new marketing plan.
Recent Survey
There is high a possibly that most big marketing companies are against the phasing out of the 3rd party cookies, therefore companies like GetApp have begun to research the potential marketing impact. In a recent survey, GetApp, which provided HubSpot with exclusive data, discovered that:
· 41% of marketers believe their biggest challenge will be their inability to track the correct data.
· 44% of marketers predict a need to increase their spending by 5% to 25% to reach the same goals as 2021.
· 23% of marketing experts plan on investing in email marketing software due to Google’s new policy.
Cookie tracking has long been a key part of online advertising, and without it, many marketers are wondering what will happen next.
We will likely see several changes in how digital marketing is conducted in the coming years. The first of many changes will relate to how advertisers should find new ways to track user behaviour and target ads. We will probably also see a shift away from traditional banner ads and towards more native advertising formats that are less reliant on cookies.
Only time will tell how exactly the digital marketing landscape will change in the wake of Google's decision to phase out third-party cookies. However, one thing is certain: marketers will need to be adaptable and ready to embrace new technologies and strategies to continue to be successful.
Seven Key Guidelines Marketers Will Need To Gain More Audience.
1. Mobile Optimization
There is a 50% chance that you are reading this through your mobile/tablet device. Mobile optimization is the practice of designing a website so that it can be accessed and used easily on a mobile device. At the end of year 2021, it is estimated that 7.1 billion phones and tablets were used to surf the web, generating 54.4% of the global website traffic compared to the 45.6% of desktop users.
As we move increasingly into a mobile-first world, it's becoming more critical for companies to optimize their websites and advertising for mobile devices. This is especially true for major companies with the resources to invest in developing a strong mobile presence.
There are a few key reasons why mobile optimization is so important:
· First, it's simply evaluating where the majority of users are spending their time.
· More people are accessing the internet exclusively through their smartphones, and this trend is only going to continue. This means that companies need to be present on mobile devices optimization if they want to reach their target audiences.
· Additionally, mobile optimization can help improve the user experience, leading to higher conversion rates.
· Finally, mobile optimization can be used as a valuable marketing tool, enabling companies to stand out from their competitors.
In conclusion, mobile optimization is critically important for businesses and it must be a key part of their advertising and marketing strategies going forward.
2. Using different media channels to advertise.
Advertisers must carefully select the channels that will reach their target audience. For example, if they want to promote a new product to young adults, they might opt to use social media where ads spending is projected to reach over $173 billion (2022) or maybe use music streaming platforms. On the other hand, if they advertise a new financial service to adults, they might use television or radio.
As our world becomes more digitized, we are also experiencing an increase in the use of content using different media methods. This is most evident in the media landscape, where we now have a wide variety of media channels and social media platforms to choose from. We can consume content in a variety of ways, including text, images, video, and audio.
Now that this trend is evident in how businesses use content to reach their target audiences, they are creating more digital content, such as blog posts, e-books, infographics, and webinars. As a result, businesses can use these methods tp reach a wider audience and generate more leads.
3. There Is One Question That Most Digital Marketing Companies Ask Themselves: Will People Still Purchase Digitally If COVID-19 Pandemic Ends?
According to ThinkGoogle(2021) Online Consumer Experience survey, respondents cite “time saving” (76%) and “best prices” (65%) as the two biggest advantages of online shopping. Additionally, they stated that “long delivery times” (55%) and “shipping fees” (57%) as the top two disadvantages. However, it is hard to say definitively what will happen to consumer habits once the pandemic is fully over. People may revert to their old habits, but it's also possible that the shifts we have seen during the pandemic will become permanent.
Truth is, most marketing companies are worried that they will spend money to build software applications compatible with the current purchasing system and chances are most people may revert to traditional purchasing system. Therefore, software upgrades could count as a loss to their business funds.
A lot will depend on the extent to which companies have been able to meet consumer’s needs during the pandemic. If consumers feel their needs are being met, they may be less likely to return to their old ways. Only time will tell what the pandemic's lasting impact on consumer habits will be.
4. Social Media Marketing (Influencers)
It is predicted that social media advertising will likely grow exponentially by $173 billion (2022) and a projection of $252 billion in 2026. This is because globalisation has brought negative impacts such as economic inequality and environmental problems, making people warier of traditional forms of marketing.
As a result, they are increasingly turning to social media platforms to learn about products and services. This has created a new class of marketing known as 'Influencer Marketing’, which relies on key opinion leaders (KOLs) to promote brands to their followers.
KOLs typically have large followings on social media and are seen as more trustworthy than companies. Therefore, using KOLs to promote brands is seen as an effective way to reach consumers. In addition, influencer marketing is often less expensive than traditional forms of marketing, making it appealing to small businesses and start-ups. As globalisation continues to have negative impacts, influencer marketing will likely grow in popularity.
5. Do Not Rely On Social Media Only.
There's no question that social media is a powerful tool for building an audience, but it's not the only tool at your disposal. Several other media channels can be just as effective for reaching your target audience. Here are a few to consider:
i. In 2019 advertisers spent $109 billion on traditional media outlets such as newspapers, magazines, and television stations. Although their reach may not be as wide as social media due to the fact that they were the first to suffer a major decline in advertising during COVID-19 pandemic, but they can still be very effective for promoting your work.
ii. PR and marketing firms can help you get your work in front of the right people. They can also connect you with media outlets looking for content like yours.
iii. Conferences and events can also be great opportunities to reach new audiences. Attendees of these events are often already interested in the topics you're discussing, making them more likely to be receptive to your work.
So do not limit yourself to social media when building an audience for your work. Some other channels can be just as effective. Experiment with different strategies and find the ones that work best for you.
6. Short-Clip Ads
More than 54% of consumers prefer to see video content of their favorite brand. Short-clip ads are a type of advertisement that 86% of marketing teams use to capture the attention of their target audience. They usually last for only a few seconds and most likely to feature fast-paced music or visuals.
According to HubSpot(2022) Video Marketing Perfomance studies, 39% of marketers report that short-form videos generate the biggest return of interest (ROI), 64% of marketers surveyed claim say the optimal length of a short-form marketing video is 20-60 seconds and 41% of marketers found the average watch percentage of their short-form videos is between 61-80%.
It's no secret that consumer habits have changed significantly over time. With access to the internet and social media, we now have more choices than ever before regarding the products we buy and the brands we support. However, one thing remains the same-consumers do not like to spend a lot of time on ads. Therefore, marketing strategies that involve a video will need to keep those clips short and to the point, but at the same time memorable.
The good news is that today's technology makes it easier than ever to create high-quality video content without breaking the bank and you can use your cell phone to create and edit an ad. So if you're looking to use video as part of your marketing strategy, don't be afraid to experiment and find what works best for you and your audience.
7. High-Quality Visual Content Is Vital
Businesses must focus on creating high-quality content to advertise successfully. This content needs to be well-written, accurate, and persuasive to persuade potential customers to purchase the marketed product or service.
In recent years, consumers have become increasingly demanding when it comes to the quality of content. With the advent of social media and streaming services, they now have access to a vast array of content worldwide. As a result, they are no longer willing to settle for low-quality content that is poorly produced and doesn't meet their standards.
This has significantly impacted the advertising industry, as marketers now need to produce higher-quality content to capture consumers' attention. This has led to an increase in marketing budgets and a to produce short clips and longer-form content of higher quality. While this may be costly in the short term, it is essential to keep up with consumer demand.
A survey conducted by Venngage from 200 professional marketers found that most marketer’s budget is spent in this fashion:
· 33,7% in Design
· 28.3% in Tools and Software
· 19% in Videos
· 9.6% in Animation and Interactivity
· 9% in stock photos
Final thoughts
What worked five years ago in business may not work in the next five years. Every business needs to strive for global changes. Companies can stay ahead of the curve by advertising and marketing their products or services online.
By promoting their business online, businesses can reach a wider audience. Additionally, online marketing is often more affordable than traditional marketing methods, such as print or television advertising. With so many consumers spending more and more time online, businesses need to advertise where their customers spend their time.
Therefore, it is clear that to succeed in today's ever-changing business world; companies must be willing to change with the times. Those that don't will quickly become outdated and lose customers to their more forward-thinking competitors. Embracing change may be difficult, but it is essential for any business that wants to stay relevant.
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