*First-Party Data To The Rescue For Digital Advertisers, Publishers And Stakeholders As Google Phase Out Third-Party Cookies
*Marketers Urged To Focus On First-Party Data Capture As Google Phases Out Third-Party Cookies
*Terragon Customer Data Platform to help enterprises navigate data aggregation from multiple sources.
Recently, Terragon, Africa’s fastest-growing enterprise marketing technology company, hosted its 6th Webinar Series which focused on the phasing out of third-party cookies on Google.
The event titled “As the Cookie Crumbles,” was attended by advertisers (FMCG and FSI Brands), tech experts, and online publishers.
Recently, Google announced its plan to phase out support for third-party cookies for privacy reasons. Already Safari and Firefox have blocked third-party cookies on their browsers. The event created an avenue for stakeholders to discuss the planned phase-out and how advertisers and publishers can win in a cookie-less world.
The Chief Digital Officer, MTN Nigeria Srinivas Rao; The Founder of Pulse Leonard Stiegeler; Chief Operating Officer, All seasons Zenith- Uwem Afanide; and Lawrence Amadi, Partner and Head Technology Advisory at KPMG, participated in the all-inclusive session hosted by Riaan Abdoll, Chief Revenue Officer at Terragon.
Here are ten key takeaways from the 6th edition of the Terragon Webinar Series:
Uwem Afanide, Chief Operating Officer, All Seasons Zenith, advocates that:
• Third party cookies are going off. We need to begin to build and establish first-party data. Brands and agencies should plug into platforms that offer first-party data. It is a very important area, to deliver seamless personalized communication.
• With the advent of the internet of things, which is becoming readily available by the day, brands will have access to more in-depth data about their customers more than ever before. Brands have the opportunity to leverage this data to understand customer pain-points, buying habits, and points of interaction.
• Most advertisers have built their display advertising around third party cookies. Now they have to unlearn these models and actively tap into non-cookie data sources such as emails, device targeting, identity systems, and probably more direct placement with local publishers and e-commerce sites.
Srinivas Rao, Chief Digital Officer, MTN Nigeria, explains that:
• Mobile subscriptions will continue to drive the adoption of data and internet technology. As users become more available on the internet platforms, we will see a growth in business expenses on online advertising because their users tend to be in this particular space now.
Lawrence Amadi, Partner Technology Advisory and Head, Technology Assurance, KPMG Lagos, notes:
• To overcome the data privacy challenges/laws in today’s world, brands and marketing agencies must build a transparent and meaningful first-party relationship with their customers. It helps them enrich their knowledge and preferences of these consumers.
• One of the ways we can explore to educate the users on data privacy better is to leverage telcos. The telcos have 196 million subscriptions today in Nigeria (note that some subscribers have multiple SIM subscriptions) and over half 740 million in Africa, we can definitely leverage them.
• Storytelling and storyboarding have become a really important factor in the online advertising industry of Sub-Saharan Africa. For players in the space, also being able to put out really strong content that appeals to the end-users and to consumers would also be a key game changer for this space.
• The average working-class person is sometimes traversing three devices in a single day (tablet, laptop, smartphones) and they constantly keep coming in contact with online advertising. What then attract or endears these consumers, comes back to the quality of the story or content you’re putting out there.
Leonard Stiegeler, Founder, Pulse, explains that:
• It is important for media companies to understand their unique value proposition in a changing environment. They need to create a clear, sustainable benefit to users as well as partners and clients – but still be flexible to constant disruption. One way to do this is to actively engage in smart collaboration.
• Advertisers should consider strong storytelling and strong online content as a powerful marketing tool that can transcend media and is remembered well – even when the purchase happens offline.
The discussion provided some insights around how advertisers, digital marketers, and publishers can win in a cookie-less world. Participants also got real-time feedback from top experts and leaders.
Brands, attendees, and other stakeholders in the marketing and advertising industry are encouraged to focus on innovative ways of using digital/online advertising tools. Examples of such include the use of First-Party Data as a substantial replacement for third-party cookie phased-out by the Chrome browser. This would aid African marketers to know their customers and engage with them.
In summary, speaking on how Terragon can help marketers and brands navigate this terrain, the host and Chief Revenue Officer at Terragon, Riaan Abdoll, emphasized the need for Customer Data Platform (CDP) software by brands.
Using the On-demand Marketing Cloud of Terragon CDP as a case reference, Mr. Abdoll added that the software has helped business enterprises aggregate and organize difficult-to-source consumer data from various party sources for easy visualization, insight generation, and decision making.
The Terragon CDP which is known for helping brands achieve 5X ROI on their marketing spend, has been deployed for leading Telcos, Banks, and FMCGs across Africa, to support targeted marketing and advertising activities.
Terragon is Africa’s leading Marketing Technology company with the main aim of enabling supercharged connections between brands and their customers and helping brands deliver personalized customer experience at scale. A replay of the webinar is available here.
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