We are all aware that, in the second quarter of 2024, Google is set to stop accepting cookies from third parties. Google will follow the same path as many other major internet browsers (like Safari, Firefox, and Edge) that have reduced or eliminated the use of cookies.
If we consider that Chrome has more than 60% market share, It’s clear that Google is joining the rest of the browsers and will have the greatest influence on the advertising environment. What happens when third-party cookies expire impact many companies’ marketing strategies?
Where Are the 3rd Party Cookies Going?
Companies around the world extensively use 3rd party cookies to improve their advertising. Additionally, internet users gained from them because their online experience, which includes the advertising options, was tailored to their needs.
But, due to the increasing concerns about privacy on the internet, the support for third parties cookies on all major browsers has ended. But what exactly are cookies? They’re tiny text files every website sends to web browsers of users to gather information about the user’s habits.
This means that whenever a user visits the same website next time, the experience suits their preferences. This, naturally, makes surfing the internet more enjoyable for the average user.
The Role of 3rd Party Cookies in Marketing
Naturally, the data collected through third-party cookies are utilized to benefit internet-based users and marketers. Advertising teams could use collected data to show highly customized content, which resulted in a higher rate of engagement and higher conversion rates. Retargeting is among the best examples of how to use third-party cookies in advertising.
It’s a system that analyzes the history of browsing by the user so that it can be able to match ads better. It shows ads for products or services that users have shown an interest in. For example, if a user is looking at golden frames on your site and clicks on them, they will see advertisements for those products when they go to other websites.
Thanks to Deep Learning, you can show them other products that might entice them, such as postcards, posters, Messebanners or image-creation services. Can all this be achieved once 3rd party cookies have been gone?
How About… 1st Party Data?
Most people must know that third-party cookies work with other cookies. First-party cookies, to be precise. There are a lot of strategies that make use of 1st-party information shortly of cookies!
A few major players, such as Edge and Chrome, officially support the most promising strategy. It concentrates on the usage of privacy-preserving marketing APIs. They facilitate advertising; however, they protect the privacy of Internet users.
This way, advertisers can focus their advertising on not only individual users or groups that are compiled based on similar desires.