The cookies track the consumer, then the advertiser can better understand and target said consumer.
Google and Apple recently made dramatic changes to cookies, predicting the future without them.
Many people have since been talking about how this will shake up the ad landscape, but there’s one more key point to add into this conversation: how these changes affect B2B and B2C advertisers differently. Here’s more about how each business model is likely to be impacted.
First party vs third party data
First-party data is the data on a company’s site that the company itself owns. The first-party data does not affect whether the cookies changes are made or not. They will still see the customers visit and activity they are performing because it’s the company’s own already.
Third-party data is not their own company’s data. It’s the data that tracks the consumers across und websites somehow like web browsing, purchase history, and more.
B2B vs. B2C
B2B companies need to be viewed quite differently than those in the B2C world. To start their go-to-market strategies are different. In recent years, B2B marketers have shifted away from casting a wide net. Instead, many are now choosing to create an account-based experience (ABX).
So, how does this tie into cookies? Well, the goal of getting rid of cookies is to retain consumer privacy.
Instead of tracking individual data, in a cookie-free world consumer data will be shown at a cohort level.Since ABX only identifies individual users as part of an organization or account, this aligns and works beautifully with the deprecation of third-party cookies. In effect, account-based targeting of ABX is akin to cohort targeting. For B2B, those following a true ABX approach with intent data are already using an effective form of contextual targeting and are poised to compete in a cookie-less world.
B2C are completely different companies stories
These businesses act on individuals. So shifting it to a mate will shake up the advertising strategies.
Google is working on alternate ad initiatives that purport to yield at least 95% of the conversions per dollar spent when compared to cookie-based advertising so other options will become available.
Preparing to modify
The best way that B2B companies can roll with the punches of these changes is to first evaluate whether their technology is ready for it:
- Ask yourself if your data is capable of performing a solution automatically drawn upon multiple data sources. Of course, the former is ideal since the latter would mean you’ll be heavily affected.
- . If your tech is not set up for these changes, it’s a good idea to consider other options now while you have the time.
- Recognize red flags in certain solutions that are being billed as effective (e.g. email signature spyware and chatbot tools can clutter your data and produce inaccurate signals.)
Keep in mind that the future will eventually cookie-less. So be ready to move forward without such a major reliance on cookies
As long as you understand how these latest changes may affect your business, you can make the most of this next wave of advertising. Remember: Cookies may be crumbling, but your ad strategy doesn’t have to. So make yourself prepare for the cookie-less future.