By collaborating with publishers, broadcasters and others with first-party data, advertisers can break through the issues that have historically held them back.
Now more than ever, it feels like AdTech is at the convergence of massive, industry-reshaping trends. From the deprecation of third-party cookies to the rapid rise of CTV, technology is forcing companies to re-evaluate the strategies that their businesses are built upon.
Data collaboration offers a way for brands to connect datasets and utilise the value of their and their partners’ data, without jeopardising data integrity, control and security. As data collaboration rises to the forefront in a number of different facets of advertising, there’s much that advertisers should keep in mind, especially with the landscape shifting so rapidly and significantly.
As the market continues to move towards an ever-heavier focus on privacy protection, demand for applications and tools that protect user privacy will also increase - including for those that operate in the new normal of multi-cloud environments.
To be sure privacy is adhered to, regulation plays a large part in this. But at the same time, consumers themselves have also become more assertive in advocating for their needs as customers. This translates into a greater need for data protection and data transparency, as leading companies know that leaning into these consumer preferences means increased consumer demand as the market’s tastes shift.
It’s not just about replacing the cookie; we need to reimagine the industry
Graham Tricker, Commercial Director, LiveRamp
With the shift away from cookies and into the realm of Topics, it’s more important than ever that companies be able to leverage first-party data in order to know and understand their customers - and to provide the experiences that these customers want.
Savvy retailers have begun to address this market need with their retail media solutions, a trend that will only continue to accelerate for the rest of 2022. However, it’s still a way to go before retailers can truly offer solutions that rival the walled gardens in scale and scope.
Retailers may begin banding together to offer access to multiple retail media networks in one go, in order for advertisers to be able to reach their target markets without looking elsewhere. Furthermore, even within consortiums or groups of retailers, solutions must be interoperable across retailers in order for advertisers to activate on multiple retailers at the same time.
Advertisers have only just begun to unlock the potential of data collaboration in CTV - and marketers, broadcasters and consumers can all benefit.
For starters, broadcasters and marketers transacting on the same IDs can unlock better person-based insights. By being able to measure and transact on these IDs, and safely and securely sharing data, CTV stakeholders will be able to power more accurate media measurement with unparalleled reach and security across screens. Leveraging data collaboration to improve the precision, predictability and performance of cross-media advertising will help to unlock the value of CTV, and make it an increasingly important market for advertisers.
It’s not just about replacing the cookie; we need to reimagine the industry. The shift to the digital world has significantly accelerated the pace of change in the industry. Succeeding in a post-cookies ecosystem will hinge upon brands implementing robust data collaboration strategies.
By collaborating with publishers, broadcasters and others with first-party data, advertisers can break through the issues that have historically held them back. And, once they’ve committed to data collaboration, they’ll notice that the opportunities are truly all around them.
As companies begin taking ownership of their data foundation, they’ll gain more familiarity with data clean rooms, as well as their most advanced counterparts. Leveraging advanced capabilities like persistent, privacy-centric identifiers; enabling teams to work together in a privacy-first neutral environment; and working with external data partners, will drive business growth in ways previously thought unimaginable.
Graham has over 20 years' experience working in high growth technology businesses, successfully delivering innovative products and services to leading global brands. With a strong technical background, Graham held engineering and CTO roles prior to driving commercial operations at Proxama a mobile marketing and payment wallet company and today heads up LiveRamp's UK Commercial team working with leading brands and retailers.
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