Is your business prepared for the end of third-party cookies and the Digital Markets Act?
The Digital Markets Act (DMA) has shaken how the B2B marketing industry targets its audiences. Here's what's changed and how we can help you navigate them.
The marketing landscape is on the cusp of a major transformation. The Digital Markets Act (DMA), already active in Europe and on the horizon for the UK, is set to reshape how businesses interact with their audiences. Coupled with the phasing out of third-party cookies, traditional targeting methods are becoming obsolete.
Here at Transmission, we've been working with clients to navigate this changing environment. However, we're concerned that many large enterprises, despite the looming deadlines, haven't begun preparing for this shift. Building a robust first-party data strategy is no longer optional, it's essential for future success.
How the DMA impacts us in B2B marketing
In short, the DMA aims to make digital markets fairer and more competitive. However, this comes at the expense of how much third-party data we can collect. By focusing on regulating large online platforms known as ‘gatekeepers’ (think Google, Facebook, LinkedIn, etc.), the DMA has indirectly influenced third-party consent practices by reshaping these platforms’ data collection, transparency, and compliance efforts.
When we pair the Act’s introduction with the phasing out of third-party cookies, we B2B marketers face a fundamental shift in how we track and understand online behaviour:
- Loss of behavioural tracking: Third-party cookies have been crucial for tracking user behaviour across different websites. Without them, B2B marketers will lose a key tool for understanding customer journeys and preferences
- Challenges in ad targeting: Third-party cookies enable precise ad targeting based on user profiles. Their absence will make it harder to reach the right audiences with relevant ads, potentially affecting marketing campaign effectiveness
- Increased reliance on first-party data: Marketers will need to rely more on first-party data (more on that in the next section). However, this relies on building stronger, more direct relationships with customers to gather data
- Adopting new technologies: We’ll also have to adapt to new technologies and strategies such as reverse IP lookup and website visitor identification software to compensate for the loss of third-party cookies
- The impact on programmatic advertising: Automated buying and selling of ad scape through programmatic platforms will inevitably become more difficult and potentially more expensive without third-party cookies
Why first-party data is the new gold standard
With our industry’s reliance on third-party cookies for audience targeting fading, B2B marketers need to be aware of these developments and adapt their strategies accordingly. Here’s why prioritising first-party data collection is critical to navigating the evolving landscape of user consent and data privacy:
- Building a high-value audience takes time: Don't underestimate the time investment required. Creating a sizable audience of qualified leads using permission-based methods takes consistent effort. Procrastinating will leave you scrambling to achieve your marketing goals
- Demonstrate marketing's impact on revenue: With limited access to external audience data, proving the value of marketing becomes even more crucial. You'll need robust measurement strategies to showcase how your first-party audience approach directly contributes to revenue growth and justifies budget allocation
- Building trust is the foundation: B2B companies will need to invest more in brand awareness and fostering positive perceptions. This’ll encourage audiences to willingly share their data, fuelling your first-party strategy
How Transmission can be your guide in the new marketing landscape
We've developed a comprehensive Audience Intelligence service to help businesses navigate the post-DMA world. Here's how we can empower your success:
- Crafting tailored audience strategies: We'll work with you to develop new audience targeting methods that align with your ideal customer profile and comply with evolving regulations. This might involve leveraging contextual targeting, strategic partnerships, and leveraging industry publications to reach your target audience
- Securing informed consent: Our team will craft compelling and transparent communication strategies to encourage audiences to opt-in to data collection. This ensures you have a high-quality, engaged audience for your marketing efforts
- Ensuring compliance with the DMA: We'll stay up-to-date on the latest regulations and ensure your data collection practices adhere to the DMA and other privacy laws. This protects you from potential fines and reputational damage
- Measuring success beyond the cookie: We'll provide advanced analytics solutions to measure the effectiveness of your campaigns using your first-party data. You'll gain valuable insights into return on ad spend (ROAS), the impact on revenue generation, and cost of customer acquisition (CAC) for a clear picture of your marketing ROI
Stay ahead of the curve
Many businesses are lagging in preparing for the end of third-party cookies and the DMA. Don't get caught off guard. If you're unsure where to start, contact us today.
We'll work with you to develop a customised Audience Intelligence strategy that futureproofs your marketing efforts and helps your business thrive in the cookieless future.
Get in touch to learn more about how Transmission can help you in the post-DMA landscape.