How Industrial Companies Can Adjust Their Digital Marketing Strategies in a Cookie-less World
Thanks to new regulations and practices from tech giants, tomorrow’s internet will be a more private place. One of the major changes that will improve privacy is the end of third-party cookies. However, this change will deprive advertisers of valuable data. It is time for manufacturers to rethink how they target and segment users.
What is a Third-Party Cookie?
A cookie is a small file placed on your computer. When you visit a website, the server will typically create a first-party cookie. This small file will save your preferences. It will also keep track of the pages you click on during your session.
However, it’s not the only file your computer will pick up. Third-party cookies can be placed on your device via scripts or tags, even if the page you visit does not belong to the organization that creates the cookie.
Social media sites often create third-party cookies via embedded content. Advertisers can also place cookies on your computer when you see one of their ads.
The Third-Party Cookie Crumbles: 2024 Phase-Out Update
The phase-out of third-party cookies, those tracking tools used for targeted advertising across the web, continues its journey in 2024. While not entirely gone yet, their days are numbered, significantly impacting advertisers and web users alike. Let's dive into the latest progress and what lies ahead:
Phased Rollout: Google, the major player in this game, initiated the phase-out with a soft launch in January 2024, restricting third-party cookies for 1% of Chrome users globally. This serves as a testing ground and allows developers to adapt before wider implementation. The plan is to gradually increase the rollout, reaching potentially all users by later in 2024. This timeline, however, remains contingent on resolving competition concerns raised by the UK's Competition and Markets Authority (CMA).
Impact on Users: As cookies crumble, users can expect fewer targeted ads based on their browsing history across different websites. This could translate to a more balanced and less intrusive online experience.
Impact on Businesses: Advertisers will need to shift gears from third-party reliant strategies. Building strong first-party data collection practices, leveraging contextual targeting, and focusing on building genuine customer relationships will be key.
What a Cookie-less World Means for Manufacturers
Without third-party cookies, techniques like cross-site targeting will not be possible. You won’t be able to keep track of the content your audience consumes from other sources.
With buying journeys constantly becoming more complex, third-party cookies have been a valuable tool for targeting and segmenting users. Thus, delivering content that is relevant to the stage of the buying journey a user is in will now become more challenging.
These changes will result in a limited reach for manufacturers. ROI for ad campaigns could drop due to the lack of data to target and segment leads.
For users, the end of third-party cookies will improve privacy. However, it could result in experiences that feel less personalized.
Alternatives to Third-Party Cookies
What does this all mean? Here's the bottom line: manufacturers will have to find new ways to target and segment their audience, without relying on third-party data. They will also have to adapt to new technologies and standards that are being developed to replace third-party cookies, such as Google’s Federated Learning of Cohorts (FLoC), which groups users into cohorts based on their browsing history, rather than identifying them individually.
Some of the strategies that manufacturers can use to adjust to a cookie-less world include:
Focusing on first-party data: First-party data is the data that manufacturers collect directly from their own website, app, or other channels, such as email, social media, or CRM. This data is more accurate, reliable, and compliant than third-party data, and can help manufacturers understand their customers’ needs, preferences, and behavior. Manufacturers can use first-party data to create personalized and engaging experiences for their website visitors, such as offering relevant content, recommendations, or incentives. They can also use first-party data to build their own audience segments, based on criteria such as industry, location, company size, or purchase intent, and target them with tailored ads or messages.
Leveraging content and inbound marketing: Content and inbound marketing will become more important than ever. Quality content and good search result rankings will help you get qualified leads. Plus, combining content marketing with first-party cookies can help you uncover where users are in their buying journey based on what they read on your site.
Content and inbound marketing are methods of attracting and nurturing leads by providing valuable and educational content, such as blog posts, white papers, webinars, or case studies. This can help manufacturers establish their authority and credibility in their industry, generate organic traffic and leads, and improve their search engine rankings. Content and inbound marketing can also help manufacturers collect more first-party data, by asking users to opt-in for a newsletter, download a resource, or register for an event. Additionally, this type of marketing can help manufacturers segment their leads based on the type and topic of content they consume, and deliver relevant and timely follow-up communications.
Exploring alternative advertising channels and platforms: Without third-party cookies, manufacturers will have to be more selective and strategic about where and how they advertise online. They will have to look for alternative channels and platforms that can offer them access to their target audience, without compromising their privacy or data. Some of the options that manufacturers can consider include:
Another alternative is to advertise directly. Direct advertising gives you the possibility of choosing ad partners and placing your ads on sites relevant to your audience. The key is to choose websites your target audience is likely to visit.
This way, manufacturers can choose the websites that are relevant and trusted by their audience, and have more control over the placement, format, and frequency of their ads. Direct advertising can also help manufacturers build long-term relationships with the website owners or publishers and negotiate better rates and terms.
As a manufacturer or industrial supplier, advertising on industry-specific platforms that cater to a specific industry or niche, such as IndustryNet can be particularly effective. Industry-specific platforms can help manufacturers reach a highly qualified and relevant audience, who are actively looking for solutions or information related to their industry. Industry-specific platforms can also help manufacturers showcase their expertise and reputation, and differentiate themselves from their competitors.
Additionally, instead of using data collected by third-party cookies, you can rely on data that users share voluntarily. Social media platforms like YouTube could become important channels for manufacturers. LinkedIn is also a great place to start with 2.9 million groups where you can connect with users in different industries. Social media advertising can help manufacturers reach a large and diverse audience, increase their brand awareness and engagement, and drive traffic and conversions. Social media platforms also offer their own tools and features for targeting and segmenting users, based on the data that users voluntarily share on their profiles, such as demographics, interests, or behavior.
Direct Advertising with IndustryNet
IndustryNet is an online industrial marketplace that specializes in connecting buyers and suppliers. Thousands of advertisers are already using the platform to connect with a built-in audience of industrial buyers, business owners and purchasing agents.
Don’t wait for Google to stop supporting third-party cookies to adopt other solutions. Learn more about advertising with IndustryNet today and start diversifying the strategies you use.
Editor's note: This article was originally published in November 2021. It has been updated to reflect the latest updates on Google's 3rd party cookie phaseout.
