By

Yariv Dori,
Chief Strategy Officer, Multiview

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hello@stagwellglobal.com

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The overwhelming concern and chatter about the demise of the 3rd party cookie is understandable because so much of our current data landscape relies on it. But, if we stop for a minute and regain perspective, it becomes evident that this change will ultimately be good for brands and their customers.  

MAKING HOT DOGS OUT OF PROBABILISTIC DATA

The amount of deterministic, high-quality data available in the marketplace, such as the self-declared information on your LinkedIn profile, has always been scarce and expensive. Demand for probabilistic 3rd party data, which assumes information about you based on articles you’ve read, was born in the shadow of that scarcity, and 3rd party cookies, that facilitate cross domain tracking offered cheap scale. Inevitably, the consequence of that scale was a compromise in quality, as algorithms generated an abundance of probabilistic data for marketers to act on. The problems started when speculative data became the go-to for campaign insights, usurping the higher-quality data that fuels better marketing.    

I like to use an analogy to the food industry. The amount of pricy solid-cut chicken and beef did not rise at the same rate as the total food available in the marketplace. To meet increasing demand, food processors found ways to turn 1kg of chicken breast into 5kg of “food” in the form of hotdogs, taco meat, and nuggets by mixing it with a cheap volume of corn, skin, gums, and sodium. Marketers have been making hotdogs by mixing strong, consented first-party data with high-volume (and affordable) probabilistic data, ultimately cheapening the effectiveness of their platforms.   

The internet, as we know it today, is a consequence of the value marketers put on targeting people based on speculative, processed data, with little regard to where the ads are displayed. The humble 3rd party cookie, which allows cross-domain tracking of people by hundreds of data aggregators, is the mechanism that enabled that cheap scale. Why pay $20 CPM on the New York Times when you can target people who have visited the NYT on some unknown site for a dollar? In other words – why pay $5 for a 1kg chicken breast when you can get 5kg of hotdogs for the same price?

WORKING WITH AUDIENCE SCARCITY  

As a B2B media company that helps thousands of businesses connect to their niche professional audiences, Multiview is well accustomed to dealing with audience scarcity. Finding the right people on quality media is the name of the game, but quality data that identifies professional audiences is scarce and expensive. Using data manipulation to create scale in B2B can easily result in a big waste of media dollars: algorithms designed to get scale can easily consider a person who’s searching for a ‘chair’ in the abundant broader category of ‘People in market for furniture’, which may sometimes be a legitimate tactic. However, that logic fails if a person is looking for something highly specialized, such as a ‘dentist chair’, for which the available data is very scarce. Challenging a scale algorithm to target people who search for ‘dentist chair’ could easily result in wasted media dollars spent on people who search for any piece of furniture or are looking for a dentist.

There is no doubt that the loss of 3rd party cookies creates the perception of loss of accuracy, scale, and transparency, but I would argue that what we are set to gain is more than what we are set to lose, because 3rd party data was never as good as the hype, just as processed food will never be better than a chicken breast.  

As a brand, the best data you have is the data you collect through direct relationships with people – think of it as raising your own chicken. The second-best option is to buy data and media directly from trusted publishers, like buying chickens from a local farmer you know by name.   

Knowing that, marketers should focus on three things as they prepare for the party after the cookiepocalypse:   

  1. GETTING CONTROL OVER 1ST PARTY DATA. Collect only what you need and do it consensually, while keeping it secure and current. Strike direct relationships with quality publishers that have direct relationships with their readers. 
  2. WEAN YOURSELF OFF THE THOUGHT DATA IS MORE IMPORTANT THAN PLACEMENT. And tighten your whitelist. Cheap scale is only for brands that have budgets to burn. It doesn’t matter how good your data is if you use it to buy an ad placement on an alarm clock app. 
  3. NREMEMBER THAT AT THE END OF THE DAY IT IS MORE ABOUT WHAT YOU SAY, THAN WHERE YOU SAY IT OR TO WHOM.  No data or savvy media strategy can supplant the great creative ideas needed to fuel modern marketing.

Life after the third-party cookie may be different, perhaps less convenient, and perhaps more expensive – but the detritus it will clear from the marketing stack will be better for clients and for internet users.

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By

Assembly on July 12, 2022

 

Originally released on

Assembly Global

Our 2022 report takes a magnifying glass to global luxury brand egagement in China

Our 2022 report takes a magnifying glass to global luxury brand engagement in China, delivering four key consumer and market trends at the intersection of technology, culture, and brand experience.

Hot off the press Assembly is back with its much-anticipated global luxury brand reports. In 2022, we release a first-of-its kind-installment, focused on the market quickly becoming the most critical for luxury brands worldwide: China.

Download your copy of: LUXE IN CHINA – New Horizons for Luxury Brands

In 2020, it was reported that by the year 2025, China will contribute to half of all luxury goods purchases worldwide. Two years later and that trajectory is very much on track, as experts expect China to take its place as the world’s largest luxury personal goods market within the next three years.

Not only are the trends we see in this market relevant to the brands seeking to win the hearts and minds of Chinese consumers – but they also point towards luxury’s future place in the lifestyles of up-and-coming generations around the world.  Where China leads in technological advances and innovation and bold, new experiences, others often follow.

In the 2022 report, we look at four key defining trends, with insight and examples of successful implementation and transformation done by global brands in the Chinese market:

Emerging Media Formats

Our Future in the Metaverse 

The Evolution of Offline Immersive Experiences 

New Consumer Engagement Beyond Brand 

Get your copy today.

We also look at media investment trends across key luxury categories, as a signal of the continued digitalization of luxe brand experiences.

While challenging economic conditions and the continued effects of COVID are felt by all, luxury brands are creating vibrant, truly culture-defining moments to create closer connections with luxe consumers.

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Originally released on

Jenny Swisher joins National Research Group as its first Chief People Officer

NEW YORK, July 21, 2022 –  National Research Group (NRG), a global insights leader at the edge of technology, content and culture, today announced that Jenny Swisher, a seasoned human resources and people operations executive, has been appointed Chief People Officer. This new role on the senior leadership team will focus on developing and leading people strategy across the global firm. National Research Group is part of Stagwell, the challenger network built to transform marketing.

At NRG, Swisher will oversee people operations, talent management, training and development, employee experience, and leadership development while working together with the human resources and culture teams. She will build on the organization’s commitment to being a modern, progressive, and people-first workplace where talent builds meaningful careers.

“People are a company’s most significant competitive advantage and advancing an impactful people strategy is dynamic, ever-evolving, and incredibly rewarding work,” said Swisher. “The leadership team at NRG is passionate about creating a new standard for how businesses support their employees – allowing them to be true to themselves, do their best work, and make a valuable impact. Joining NRG was the perfect next step in my journey and an opportunity I had to be a part of.”

Swisher is an industry veteran with nearly 15 years of experience working in human resources and people operations, most recently serving as Executive Vice President, People Operations at the technology media company BrightTALK. There, she developed and led people strategy for a global workforce of 300 employees to elevate engagement and retention, accelerate productivity and performance, and deliver on business goals. Before BrightTALK, she held similar roles at the retail giant Target as well as Hercules Technology Growth Capital, Inc.

“Jenny is a charismatic, empathetic and compassionate leader, with a strong track record of creating dynamic teams united by a values-driven culture,” said Jon Penn, CEO, National Research Group. “She empowers employees to do their best work by being their best selves. We’re thrilled to have her supercharge our commitment to making NRG the employer of choice for smart, ambitious people everywhere.”

Swisher received a business administration, marketing degree from University of Washington’s Michael G. Foster School of Business. She will be based in NRG’s Los Angeles office.

About National Research Group

National Research Group is a leading global insights and strategy firm at the intersection of entertainment and technology. Rooted in four decades of industry expertise, the world’s leading marketers turn to us for insights into growth and strategy for any content, anywhere, on any device. Working at the confluence of content, culture and technology, NRG offers insights for bold storytellers everywhere. To learn more, please visit www.nationalresearchgroup.com, and follow us on LinkedIn and Instagram.

About Stagwell

Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world’s most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 12,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.

For NRG:
Mary Moczula
mary.moczula@nrgmr.com

For Stagwell:
Sarah Arvizo
pr@stagwellglobal.com

SOURCE Stagwell Inc.

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