Even when Google chooses to hold back the cookie, one thing is for sure — brands need to rethink how they communicate with their audiences.
Don’t let the data consumption fool you either! As Forrester noted, “There’s a lot of Chicken Little in the works for the announcement that shouldn’t come as much of a surprise to anyone.” Marketers have historically been able to target consumers in an unrestricted manner, but now they have to evolve into a post-cookie world.
With that news in mind, here are three marketing trends that I see happening in the fourth quarter.
In some of them, you’ll learn where brands jump back in to personalize their ads and meet consumer demands in a privacy-compliant way. If you’re still hoping Google will continue to push the eight-ball, don’t bet on it. Instead, pay attention to the consumer and go back to basics to go further down the road to build relationships and meet your customers’ needs.
Branding Remarketing Strategies for Content Advertising (Again)
As you work to gain trust and build relationships with your potential customers, remarketing may not be your friend. In addition to Google depreciating cookies, customers feel more comfortable when their data can’t be collected automatically. Instead, brands use tried and trusted methods like contextual advertising to combat under-targeting.
Content advertising is a great way to target customers who are most likely to be interested in a product. The automated process works by matching the content of the web page to the content of the advertisement. Instead of focusing on user data, algorithms place ads based on keywords and other metadata embedded in the content.
For example, if you are a pool company, contextual advertising will place your ad next to an article about fiberglass pools. Those readers who are interested in fiberglass pools may be more interested in your services.
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The future of conversational marketing: script-based artificial intelligence
Consumers have been conversing with technology for years — from talking with their virtual assistants to their smartphones and speakers. Starting this year, Gartner predicts that 70% of white-collar workers will interact with conversational AI platforms on a daily basis. Chatbots are the main AI-based applications used by companies for personal interactions.
But spending hours and days writing how a chatbot will respond is a tedious task and not dynamic or scalable.
On the other hand, text-driven AI is. AI ingests content on its own, understands context, pulls key concepts, and directs the user to a matching destination. AI chatbots are more versatile, accessible, and move at the speed consumers are looking for. For example, text-based product selectors can give customers options to choose from as well as direct them to the right products. This helps companies avoid shopping cart abandonment while keeping customers engaged with products that best fit their needs.
Conversational AI is something our PowerChord team is excited about. It is hoped that finding ways to have more personal interactions with customers will translate into better conversations between brands and customers.
Marketers are putting more emphasis on first-party data to prove value
Although Google’s third-party data collection ban won’t go into effect until late 2023, 43% of marketers are already changing gears and embracing first-party data.
Data collected from your company’s website, app, CRM, social media, or other first-party sources will be the new oil as organizations continue to move from assessing impressions to a more comprehensive view of campaign performance. Building knowledge about your customers – versus “borrowing” someone else’s data – will help lower acquisition costs and identify customers who are worth the investment to increase their customers’ lifetime value.
Another benefit of a first-party data strategy is trust and relationship building. Customer surveys can help you respond to comments and needs. You can also use the chat experience to launch a series of small surveys on the website to collect increasingly small pieces of data from their customers.
It is important to create a valuable trade between your brand and potential customers. Customers are more likely to trust and provide their information when they receive something of value in return. They are more likely to answer a few questions if you offer to enter a giveaway for a free product. By leading by listening and trusting, you gain knowledge and build a smart company.
Marketing is an ever-changing field – no one strategy will be right for any campaign. But I hope these insights that we’ve seen from our customers will help you thrive in the fourth quarter.
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