Performance In A Privacyfirst World
Performance or privacy? CMOs know they have no choice. You have to balance both. More than three-quarters (77%) are asked to demonstrate the short-term return on investment (ROI) of their companies, but 59% of consumers worldwide won't buy a brand they don't believe in.
Of course, privacy isn't the only factor affecting productivity. The same inflationary pressures that are now causing consumers to cut their budgets (and stop buying your products) are also affecting marketing budgets: 52% of marketers say their marketing spend is lower because of this factor.
As long as market volatility persists, marketers should expect to do more with less. Once defined, KPIs can become obsolete. Marketing teams that don't meet today's standards will struggle to reach a higher level.
Privacy vs. Performance: The Balancing
Stricter data protection regulations and increased consumer demand for greater transparency are forcing marketers to look for advertising solutions based on more than just digital identifiers. Uncertainty about the lifespan of third-party cookies, fewer identifiable users and stricter laws mean marketers may no longer have the signals they've come to rely on to target consumers. Conversely, they achieve higher CPMs and lower ROI.
For CMOs looking to grow, it's important to make every marketing dollar count. But they need the right tools to do that.
strategies for success
In today's tight regulatory environment, there are strategies that balance the need for high marketing performance while maintaining user privacy. These techniques help build consumer confidence while delivering good results. They lay a solid foundation for a marketing approach that can withstand the challenges of the future.
Use contextual targeting .
Contextual targeting allows marketers to serve relevant ads based on web page content rather than relying on users' personal information. This method is less intrusive and can create more relevant advertising as users are likely to be interested in products and services related to the content they are currently consuming.
This approach perfectly balances accuracy and efficiency. Contextual targeting can also help advertisers find new customers on long-tail sites frequented by hot customers. For example, health and wellness brands can connect with yogis on major yoga sites. However, a more effective strategy is to use contextual targeting to place ads where these consumers are looking for new places to meet.
Power First Party Data .
First-party data (data collected directly from consumers) provides valuable insights while providing a higher level of privacy than third-party data. By using data collected or obtained directly from consumers, marketers can better understand their ideal audience while respecting user privacy.
In addition to using raw data to build audiences, marketers looking to take their targeting strategies to the next level can combine audience accuracy with reach and contextual relevance. Using users' unique semantic profiles and pages, this innovative strategy – at Fyllo we call it Contextual Audience Augmentation – uses proprietary data to develop a model that identifies where core and lookalike audiences are likely to be.
This allows marketers to expand the reach of their campaigns to discover previously unengaged audiences that share interests and behaviors similar to existing customers, where they are more engaged and receptive to relevant messages.
By nature, take a privacy-focused approach.
Embed data protection into your business practices and IT systems instead of treating it as an afterthought. This organizational approach ensures that privacy is always a core part of any company.
Part of this approach is to provide transparency to users about how their personal information is collected and shared. Marketers can also educate users about the benefits of targeted advertising. More relevant advertising improves the experience when it is relevant to consumers and can help them discover new products and services. By gaining the trust of their audience, marketers can develop a responsible and sustainable approach to targeting.
The way to achievements
The future of ad targeting depends on finding the right balance between performance-based strategies and privacy-based practices. Those who value transparency and user control will be able to gain public trust and ensure long-term success.
At Fyllo, we empower marketers to succeed in a privacy-driven world by helping them balance personalization and anonymity, reach and relevance, security and scalability without compromise. . And in this balance we find the winning formula for today's most effective companies. Contact us today to find out how we can help make your next campaign a success.
Comments
Post a Comment