Marketing

How retailers will set up their marketing in the future – eCommerce Magazin

[ad_1]

Retailers will feel the changes most clearly due to the elimination of third-party cookies. After all, no other industry is more about creating customer experiences than here. Trust is the key, because consumers are now more privacy-conscious when shopping than ever before. But there is still the expectation of personalized experiences that correspond exactly to their individual needs and wishes.

New era of digital experience without third-party cookies

The removal of third-party cookies will undoubtedly change the way data is collected, the definition of target groups and the experiences offered. According to the Digital trends 2021 Six out of ten Adobe executives are convinced that the adjustments and requirements of the future without cookies will have a “disruptive effect” on marketing.

However, that doesn’t have to be a bad thing, after all, little changes in the fundamentals of retail marketing. Because even without cookies, the claim to receive high-quality data applies. Only with them can retailers understand their customers better, get closer to them and build trusting relationships. And to be honest, third-party cookies were never the best. Many marketers will probably still remember the conversations about low compensation rates (which are crucial for the delivery of omnichannel experiences) or the easy accessibility of third-party cookies, with which every company had access to data at the same level and quality.

Brands have insight into third-party data, but never a full understanding of their customers. With the end of third-party cookies, there is an opportunity to shift marketing strategies to quality instead of quantity in the future. Here, customer profiles are based on consent-based data from first-party providers and are therefore much more informative. This helps deliver higher quality experiences that meet today’s consumer standards.

Marketing has to get by with less data

So what exactly will change in the world of retail marketing? Smart marketers don’t wait for third-party cookies to go out to begin testing new practices. Apple’s requirement to make express consent a condition – combined with the automatic deletion of cookies – ensures that marketers and advertisers already have to get by with less data. But apart from the negative aspects, there are numerous new possibilities to receive first-party data directly from customers and then to use them better

In this way, retailers can prepare for the era without cookies

New technologies to support first-party data strategies: Many modern technologies rely on third-party cookies to support a range of marketing activities. In order to permanently obtain a comprehensive picture of consumers and to create a trusting relationship, companies must invest in first-party data strategies in the future. Customer Data Platforms (CDPs) – like the Real-Time CDP from Adobe (based on the Adobe Experience Platform) represents a unified hub that not only enables brands to store data, but also to better understand and react to it within the entire company.

Update in real time: In retail, some forms of personalization need to be instantaneous. With a modern CDP, marketers can update customer profiles in real time and react instantly to changes in the market or customer behavior. Thanks to real-time data from first-party providers, customers retain control of their own data, while the tools ensure the best possible customer experience.

Machine learning for personalizing known and unknown visitors: So far, cookies have been the most important means of better understanding and targeting unknown visitors to a website. Today, machine learning and AI offer the best methods to address anonymous users with modern, personalized content and experiences. This enables brands to recognize common patterns and unknown visitor paths and determine the perfect point in time for registration or consent in order to accelerate the change from “anonymous” to “known”.

Partnerships with data associations, reaching new target groups: Companies can expand their own data collection by combining it with partners in a privacy-friendly way. In this way, both parties can get a more comprehensive picture of their customers’ behavior and preferences and, moreover, develop new target groups.