End of Google cookies, an opportunity for companies
is the headline of the news that the author of WTM News has collected this article. Stay tuned to WTM News to stay up to date with the latest news on this topic. We ask you to follow us on social networks.
Google announced that it would stop using its third-party cookie model by the end of 2022. For vigilant users and data privacy advocates, this is a long-awaited advance in respect of your privacy, and something that google chrome ( the world’s most widely used browser) was in debt.
However, advertising tools and unique identifiers for websites have begun to show concern about the implications that this measure will have that will affect them directly, to the point that Google has decided to delay the measure until the end of 2023, giving a reasonable time for fit the new models.
What is this change about? The so-called cookies are files that record what we browse on each website. Third-party cookies are sent to other companies so that they can personalize the advertising content that we see when browsing. For years, digital advertisers have used this resource to collect data and target relevant ads to the right audiences.
The disappearance of Google cookies, an opportunity for companies
The new solution proposed by Google is about Federated Learning Cohorts (FLoC for its acronym in English). In this way, data from segments of users (possibly groups of thousands) with similar habits will be sent, avoiding the sending of individual data. Although the proposal seems to be an improvement over the current situation, it already has various detractors. Google’s announcement of the delay notes that it is “ample time for public discussions for the right solutions, engagement with regulators,” and ad industry adaptation.
Is it possible to sustain growth and return on investment levels while respecting customer privacy? The answer is yes, but the priorities on private data (and what to use it for), should be oriented to other objectives beyond conversion. It is no longer just about acquiring new customers, but also improving the relationship with those you already have. On the user experience side, another key question arises to react to this process: How well does the company know its customers? Do you have the data organized in a way that enables a decision that improves the experience with your brand? How much are you able to improve that experience on your own websites and channels?
Solutions can be designed that connect the different interactions that customers make through the different channels that companies have available (e-commerce transactions, interactions with social networks, complaints, satisfaction surveys, behavior on the website, etc.), in such a way that a set of facts can be understood as a story, that is, the customer’s history with the brand. Applying advanced analysis techniques and artificial intelligence to such volumes of information, companies can even automate immediate responses to events as if each client had a representative available for any need.
This conception is called “360 customer vision”, and it is not new at all. Although the concept has been around for several years, it is a major challenge for companies. With the help of the right technological allies, companies obtain the necessary guidance to describe not only what business value they want, but also the support to build technological solutions and digital experiences, from a more comprehensive perspective of their customers, and of course, without neglecting the aspects of governance and privacy of your data.
Author: Soledad Álvarez Del Sel, Data & Applied AI Practice Head at Baufest