Preparing for the Cookieless world!

The death of 3rd party cookies on chrome was announced by Google on 14th Jan 2020.

3rd Party cookies would be phased out over a 2 year period.

What would this mean for marketers? How do you prepare for a cookieless world?

Here are some thoughts:

From the India perspective- we are a mobile first nation. Hence, the app adoption is quite high and apps rely on device identification methods rather than cookies. Hence, if your app game is strong, you have something less to work on.

First Party Data: will become increasingly relevant. Marketers shall need comply with stringent Data Privacy laws that come into play going forward.

DMPs will need to re-invent themselves as advertisers shall no longer be open to them.

Tech Stack : Build a robust, in-house tech stack to enable you to do the transition.

Customer Segmentation: You will need to use the signals that you get from all the possible sources to bucket the customers in the right segments.

Customer Identity: Can you look at creating customers’ identity in a legally compliant manner and then use that for targetting?

Safari/FireFox: Speak to advertisers who have been testing campaigns on these browsers as they have already stopped 3rd party cookies since long.

Partnerships: Partnerships with data providers will become more important. (Flipkart, Truecaller)

How is Google Preparing for the Cookieless world?

They are working on a Privacy sandbox, wherein, instead of cookies- advertisers will work on several APIs such as the Conversion API etc.

Obituaries in a Cookieless World/New ways to:

  1. Multi-Touch Attribution
  2. Limited ability of DMPs for Audience Segmentation.
  3. View through Conversions.
  4. Frequency Cap across publishers.

Let me know your thoughts!

Facebook on Linkedin- Choosing the right social media platform!

Power of Platform!

Facebook using Linkedin to promote/sell its services.

FB acknowledges that the best place to reach decision makers is Linkedin.

Is it a sign of decreased ad spends on FB? Probably not.

The FB revenues doesnt signal a decline. However, the promoted post shows that when you are down, do not be defensive. Instead, strike with more rigour.

~Commitment Economics~

Propose some value added benefits. Seek a nominal commitment from the consumers for the value added benefits. This is the Holy Grail to boosting your sales.

Eg.

  1. Amazon Prime
  2. Saavn Pro
  3. Jio Prime
  4. Zomato Gold
  5. Ola Prime

Idea: Induce the customer to give you a nominal fee. You would always be pricing at the point you wanted to sell. In order to reap the benefits of whatever small amount that he/she has invested in, and to take advantage of the investment, he will purchase your products for the value added benefits they receive. By doing so, you give him a feeling(just a feeling) that he is smarter than the rest and receives superior treatment. Who doesn’t like it?

The basic tenants involve the principle of “Sunk Cost Fallacy”. For a detailed reading on Sunk Costs, read an amazing write up at: https://youarenotsosmart.com/2011/03/25/the-sunk-cost-fallacy/

 

 

 

Freemium, Freakonomy- Attention!!

Freemium-

It rules the business models today…You charge certain segments of customers ie premium and utilise their funds to offer free services to others. The premium segment comes after the free segment has risen to substantially high numbers.

Freakonomy-

My modified definition:-

You offer services a dirt cheap rates (almost free) and freak out the competition. eg Jio. Terribly low rates, freaked out every one major player in the telecom space in India. Today Jio=Voda+Idea+Airtel

 

Attention

The word “free” rings bells across caste, creed, educated/uneducated, intellectual/dumb, child/adult.

Recently BigBazaar launched a shrewd campaign called FreeShopping. I too got swayed by it. In the store, i hear a 10 year old child telling his father, “Dad, we need to buy for 456 more to get things for free”

Freakoloy

The psychology behind free- I am not a psychologist. But just as we all breathe oxygen, we all drink water, all of us- fall in for free!!  What goes behind it? I call upon my anthropology and psychology friends to share their views.

 

 

Faceook Algorithm Changes..It’s greedy, shrewd. Burn more advertising dollars.

Facebook changed their newsfeed algorithm in 2018.

The major changes are:

1. Brands appearance in the time line of followers would be reduced leading to considerably lower reach.

2. Only content that engages users (comments, sharing, reactions) would be gain higher reach.

Is facebook being Ethically Evil? May be yes…A lot has been said about it being a dominant player and ruling the market.  In India, FB, Whatsapp and Instagram take up probably 80% of mobile time(no research to back it up, however have it is too evident to put that effort)

Facebook gave brands great value by giving them opportunity to communicate to their audience. It habituated brands varying levels reach for its posts. Come 2018 and brands realize that their posts have considerably lower reach due to a change in algorithm.

Consumers follow a brand for need and greed:

  1. Typically, the need is to vent out the frustration/dis-satisfaction regarding a product or service.

  2. Greed being some offers, coupons, discounts, emotional elevation, recognition factors.

80% of brands fail to be relevant to the consumers in their communication on FB.  Facebook knows that- it takes really good amount of time and money to generate relevant content for your audience.

To give brands a feeling of being relevant, FB gave us the option of boosting our posts. Here comes the greed from Facebook.  The change in algorithm will see brands making more use of the boost post feature leading to higher revenues for FB.

It is like getting willing trapped in a maze and then paying the maze organizer to make the maze more complex.

Disclaimer- The views expressed do not represent the views of my organisation.