The Daily: Data and Targeting Strategies for 2025 | Nov 26, 2024
Nov 26, 2024
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Echo Sandburg, Chief Brand Officer at CP Skin Health Group, dives into the evolving landscape of data and targeting strategies. The conversation highlights how Google's shift away from cookies is prompting brands to adopt first-party and zero-party data for better customer insights. Sandburg discusses the significance of integrating customer data while battling silos and fragmentation. The duo also explores how generative AI is reshaping marketing analytics and contextual advertising, ensuring brand safety amid rising privacy concerns.
Google's pause on cookie rollback offers temporary relief but highlights the ongoing need for innovative, people-centric identification strategies in marketing.
The shift towards robust first-party data strategies allows companies like Eli Lilly to engage customers more personally while enhancing targeted outreach efforts.
Deep dives
The Impact of Google's Cookie Strategy
Google's recent decision to pause the rollback of cookies has provided some relief to marketers, yet it has not significantly changed the overarching concerns in the data ecosystem. Companies have been preparing for a future where cookies are less prevalent, focusing on building people-centric identity strategies instead. This involves utilizing diverse data sources such as zero-party data from brand surveys and first-party data from CRM systems. The panelists agreed that while these changes are positive, the industry must continue to innovate and adapt to a cookie-less landscape, emphasizing the importance of maximizing existing data assets.
Harnessing First-Party Data for Targeting
The emphasis on first-party data is transforming the way companies approach targeting strategies. Organizations like Eli Lilly are investing heavily in building robust first-party data strategies, allowing them to gain deeper insights into their customers without relying on external identifiers. This shift not only enhances the understanding of customer groups but also strengthens the effectiveness of external targeting efforts. By directly engaging with customers, brands can personalize their outreach without losing sight of the external factors that influence their advertising strategies.
The Role of Customer Data Platforms in Data Strategy
Customer Data Platforms (CDPs) have become essential tools for marketers, particularly in managing customer data in a privacy-conscious environment. These platforms enable the unification of various data streams, providing a holistic view of customer interactions across multiple touchpoints. As organizations adapt their data strategies, the effective use of CDPs allows for more personalized customer experiences while ensuring compliance with privacy regulations. The integration of data lakes and a culture of collaboration are crucial in dismantling silos within organizations, enhancing the overall customer experience.
On today’s podcast episode, we discuss how Google’s cookie choices affect targeting with insights on alternative identifiers, data privacy, and strategies for 2025. Tune in to the discussion with our Principal Analyst and host Yory Wurmser, Chief Brand Officer of CP Skin Health Group Echo Sandburg and Senior Director First Party Data Strategy of the Eli Lilly & Company Moitree Rahman.