by Marketing Charts
More than 8 in 10 (83% of) marketers say they are currently using third-party cookies. That’s despite third-party cookie deprecation being considered one of the top digital media challenges this year. Indeed, a report from Innovid reveals that a large majority (84%) of marketers surveyed are worried about the future of advertising as third-party cookies are phased out, with more than one-third (35%) believing it will adversely impact targeting and measurement.
Half (51%) of the 500 US senior marketers surveyed – representing brands and agencies across industries – say that third-party cookies are very important and make up a majority of the data in their companies. A further third (32%) believe third-party cookies are somewhat important to them, as they have a strong mix of first- and third-party cookie data.
First-Party Data Takes Precedence
For many marketers, the response to third-party cookie deprecation, as well as growing customer data restrictions, has been to create digital experiences and strategies aimed at collecting more first-party data. This quest isn’t new. Research from Merkle last year found that 54% of marketers surveyed had been more aggressive in their pursuit of first-party data. More recently, data from LiveIntent and Advertiser Perceptions showed that about 6 in 10 advertisers had implemented or planned to implement greater use of first-party data.
It’s safe to say that the marketers surveyed for Innovid’s report are on board with this pursuit. Nearly all (96%) agree that first-party data will be paramount moving forward. Furthermore, more than 9 in 10 (93%) claim to have an appropriate first-party data collection process in place.
One area that is likely to be impacted by cookie deprecation, as well restrictions put on device ID, is identity resolution. To alleviate this issue, close to three-quarters (73%) believe that their own first-party activation holds the most promise.
Privacy and Data Collection
While first-party data may help remedy issues such as identity resolution, more than half (55%) of respondents have voiced concern that privacy legislation will limit their ability to collect and store this form of data. About one-quarter (26%) are also concerned that privacy legislation will curb their ability to freely share data, negatively impacting advertising targeting and measurement.
On the consumer side, two-thirds of the 1,000 consumers surveyed are satisfied with recent laws that limit the collection of personal information online. Yet, while consumers tend to be in favor of online privacy legislation, that doesn’t mean they aren’t willing to share their data under the right context. A full 84% say they would be comfortable sharing data if proper measures were put in place, including the ability to opt-out or to see what data brands are collecting.
Article originally appeared on Marketing Charts.
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