At RampUp Virtual Summit 2021, our audience was most curious to hear from Jeff Rasp of Bayer, who presented The Customer Intelligence Opportunity You Can’t Afford to Miss. If you missed it, check it out here and learn how Bayer is preparing for the end of third-party cookies by building its own data foundation to better understand and connect with consumers.
Then, come back to this blog and read answers to questions regarding measuring marketing ROI and preparing for the cookieless future that Jeff was asked but wasn’t able to get to live:
1. What is your biggest concern with the pending changes for a cookieless future? What do you see as the greatest opportunity to result from a cookieless future?
My biggest concern is having enough runway to thoroughly test on other ID strategies before third-party cookies are fully deprecated next year, and having a clear path as we execute our media strategies in a post-cookie world. The greatest opportunity to result from a cookieless future is consumers’, advertisers’, and publishers’ greater control over data, and a chance to start new relationships and communicate a value exchange more clearly.
2. How are you connecting retail POS data with your audience? Obviously, that used to be done with couponing.
This requires an advertiser to build strategic partnerships with their retail partners to support data collaboration in a safe and privacy-complaint way in a neutral environment.
3. How are you tracking individuals to perform true closed-loop marketing? How do you tie an exposure to a digital ad to a purchase of a product at retail?
They are two unique data sets and it requires an ID solution—for example, LiveRamp’s—that matches cookies through an identity infrastructure to make the connection between a digital ad exposure and a purchase in the platform.
4. Are there still blind spots in your closed-loop measurement? How do you address them?
Match rate will always result in blind spots, but you can’t fixate on those. The goal is to align to an identity solution and leverage the scale you do have, and steadily increase your match rate as you garner more first-party data and enrich your customer intelligence.
Thanks again to Jeff for delivering an engaging, thought-provoking presentation and answering additional questions. To watch his session, register for RampUp Virtual Summit 2021 if you haven’t already, and check it out now.