Connect with us

MARKETING

How Marketers Are Preparing for Google’s Third-Party Cookie Phaseout

Published

on

How Marketers Are Preparing for Google's Third-Party Cookie Phaseout

Over the past few years, consumers have become increasingly concerned with how companies use their data. And many feel passionate about protecting their privacy — in fact, HubSpot’s Blog Research found 80% of consumers believe data privacy is a human right.

Data security has become a critical component for long-term customer retention and loyalty. So it’s vital brands behave responsibly when it comes to collecting and protecting consumer data.

But many marketers have relied on third-party data for years, so the phaseout of Google’s third-party cookie in 2023 will likely cause some concern. Fortunately, it doesn’t have to.

Here, let’s explore the effective strategies marketers will implement to ensure they’re still reaching new audiences and connecting with customers even without third-party data.

How Marketers are Preparing for Google’s Third-Party Cookie Phaseout

1. Marketers are enhancing or developing their data collection operations and management models.

One surefire way to prepare for the third-party cookie phaseout? Begin developing or refining a strong first-data party data strategy.

As Microsoft Advertising’s Head of Evangelism, John Lee, told me, “Microsoft Advertising is working with the digital advertising industry and its clients to evolve and uplevel data privacy maturity for a privacy-first cookieless world. While there is no market-ready solution available today that manages data end-to-end, our guidance for our clients is to take steps now to prepare a first-party data strategy and to conduct robust data management practices.”

how marketers are handling the third party cookie phaseout

He adds, “First-party will lead the way and now is the time to ensure that you have the best resources and information available to enhance or develop data collection operations and management models. It is your ability to communicate with your customers transparently and in a personalized, yet meaningful way, that will enable better relationships and business success in the future.”

Ultimately, creating a strong first-party data management framework will enable your entire organization to transition seamlessly off third-party data while continuing to reach new prospects and leads.

To create an effective enterprise data management strategy, take a look at Everything You Need to Know About Data Management.

2. Marketers are gathering customer data through email marketing.

Cynthia Price, Litmus‘ SVP of Marketing, believes email marketing is a powerful option for continuing to collect customer and prospect data instead of relying on third-party cookies.

As Price puts it, “About eight in 10 marketers depend on third-party cookies, so when they do vanish, those who haven’t adapted their data structures and their data-gathering processes will struggle to effectively personalize their email programs.”

To combat these challenges, marketers will need to shift to ensure their email strategies leverage first-party data. This will help you create a more individualized email experience

Price suggests, “Email can be used to gather customer and prospect data with new, evolving email software and with dynamic content templates. Forms, in-email purchase options, and customizable marketing paths are all valid, successful tactics to use in order to garner more first-hand recipient information.”

Price adds, “Brands with siloed data structures have been unable to achieve a full, single view of their customers, with data getting pulled into multiple directions.”

Price says, “The evolution of privacy regulations will put email even more at the center of the marketing mix — as the channel that offers the most comprehensive view into zero and first-party data, and the ability to use it effectively.”

She continues, “This adoption of zero and first-party data will also allow for more practical uses of AI in email, with AMP and dynamic content automation.”

3. Marketers are focusing more on customer loyalty and retention.

The phaseout of third-party cookies will impact how some marketers acquire new customers, but it won’t impact how marketers retain existing customers — which is why some marketers will adjust to this third-party phaseout by refocusing their efforts.

SVP of Marketing at Cordial, Carrie Parker, says, “The phaseout of Google’s third-party cookies is forcing marketers and advertisers to think about engaging their customers and audiences in more personal and authentic ways. With cookies going away, acquiring new customers will become more complex, but on the other hand, retaining customers will be a much more critical piece of the puzzle than in the past.”

She adds, “More marketers are increasingly focusing on loyalty and retention within their current customer base, enhancing their experience with the insights readily available that consumers have provided.”

Parker told me Cordial recently conducted a study and found 70% of consumers dislike online ads that target them using websites and products they’ve viewed — and, on the contrary, more than eight in 10 consumers are more likely to buy from stores and brands that communicate with them in personal, relevant ways.

Parker continues, “Consumers want more from companies when it comes to personalization than what they’re receiving from most brands these days. Personalization does not mean inserting a name on an email and hitting send. Instead, it requires considering the value added to the consumer and keeping them loyal customers. With cookies going away, first-party data strategies allow brands to emphasize personalization, loyalty, and retention of their customers. Brands can use their customer base and provide something of value to make them come back.”

how marketer are handling the third party cookie phaseout

Ultimately, the phaseout of the third-party cookie is a good opportunity to re-evaluate how you’re interacting with both new and existing customers. First-party data strategies will ultimately help you better connect with your customers.

4. Marketers will focus on the best impressions rather than the best users.

Melinda Han Williams, Chief Data Scientist at Dstillery, says, “One of the most challenging aspects of preparing for this transition is that any good campaign will include a portfolio of post-cookie solutions and technologies after third-party cookies are gone. Even the marketers who are furthest along in their post-cookie testing journeys may still have much more preparation to do.”

She adds, “New identity solutions, such as UID2 and RampID, allow advertisers to reach people who have opted-in to tracking and addressability. Marketers who have tested these solutions have progressed toward post-cookie readiness, but they’re not done yet.”

“Why? Because some people don’t want to be tracked on the internet.”

Williams points out that marketers need to prepare solutions to reach people without tracking them or compromising their privacy or preferences.

The solution here? Understanding you might not need that much data about each customer in the first place.

As Williams told me, “The good news is you don’t need to know who someone is to know whether they’d be receptive to your message. Today’s artificial intelligence (AI) enables marketers to choose the best impressions rather than the best users.”

She adds, “Once you reframe the problem this way, rather than trying to find out as much about the user as possible with increasingly limited data, it is possible to do inventory-based targeting with performance and scale rivaling the cookie-based, tracking-based solutions that will soon be retired.”

Change is always difficult, particularly when it comes to the ways in which marketers reach new audiences. Fortunately, this change is likely for the best. Shifting to a first-party data model will help your organization appeal to the majority of consumers who are hesitant to share their data with companies, and it will set you up for long-term growth after Google’s third-party phaseout.

state of marketing

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address

MARKETING

Why We Are Always ‘Clicking to Buy’, According to Psychologists

Published

on

Why We Are Always 'Clicking to Buy', According to Psychologists

Amazon pillows.

(more…)

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

A deeper dive into data, personalization and Copilots

Published

on

A deeper dive into data, personalization and Copilots

Salesforce launched a collection of new, generative AI-related products at Connections in Chicago this week. They included new Einstein Copilots for marketers and merchants and Einstein Personalization.

To better understand, not only the potential impact of the new products, but the evolving Salesforce architecture, we sat down with Bobby Jania, CMO, Marketing Cloud.

Dig deeper: Salesforce piles on the Einstein Copilots

Salesforce’s evolving architecture

It’s hard to deny that Salesforce likes coming up with new names for platforms and products (what happened to Customer 360?) and this can sometimes make the observer wonder if something is brand new, or old but with a brand new name. In particular, what exactly is Einstein 1 and how is it related to Salesforce Data Cloud?

“Data Cloud is built on the Einstein 1 platform,” Jania explained. “The Einstein 1 platform is our entire Salesforce platform and that includes products like Sales Cloud, Service Cloud — that it includes the original idea of Salesforce not just being in the cloud, but being multi-tenancy.”

Data Cloud — not an acquisition, of course — was built natively on that platform. It was the first product built on Hyperforce, Salesforce’s new cloud infrastructure architecture. “Since Data Cloud was on what we now call the Einstein 1 platform from Day One, it has always natively connected to, and been able to read anything in Sales Cloud, Service Cloud [and so on]. On top of that, we can now bring in, not only structured but unstructured data.”

That’s a significant progression from the position, several years ago, when Salesforce had stitched together a platform around various acquisitions (ExactTarget, for example) that didn’t necessarily talk to each other.

“At times, what we would do is have a kind of behind-the-scenes flow where data from one product could be moved into another product,” said Jania, “but in many of those cases the data would then be in both, whereas now the data is in Data Cloud. Tableau will run natively off Data Cloud; Commerce Cloud, Service Cloud, Marketing Cloud — they’re all going to the same operational customer profile.” They’re not copying the data from Data Cloud, Jania confirmed.

Another thing to know is tit’s possible for Salesforce customers to import their own datasets into Data Cloud. “We wanted to create a federated data model,” said Jania. “If you’re using Snowflake, for example, we more or less virtually sit on your data lake. The value we add is that we will look at all your data and help you form these operational customer profiles.”

Let’s learn more about Einstein Copilot

“Copilot means that I have an assistant with me in the tool where I need to be working that contextually knows what I am trying to do and helps me at every step of the process,” Jania said.

For marketers, this might begin with a campaign brief developed with Copilot’s assistance, the identification of an audience based on the brief, and then the development of email or other content. “What’s really cool is the idea of Einstein Studio where our customers will create actions [for Copilot] that we hadn’t even thought about.”

Here’s a key insight (back to nomenclature). We reported on Copilot for markets, Copilot for merchants, Copilot for shoppers. It turns out, however, that there is just one Copilot, Einstein Copilot, and these are use cases. “There’s just one Copilot, we just add these for a little clarity; we’re going to talk about marketing use cases, about shoppers’ use cases. These are actions for the marketing use cases we built out of the box; you can build your own.”

It’s surely going to take a little time for marketers to learn to work easily with Copilot. “There’s always time for adoption,” Jania agreed. “What is directly connected with this is, this is my ninth Connections and this one has the most hands-on training that I’ve seen since 2014 — and a lot of that is getting people using Data Cloud, using these tools rather than just being given a demo.”

What’s new about Einstein Personalization

Salesforce Einstein has been around since 2016 and many of the use cases seem to have involved personalization in various forms. What’s new?

“Einstein Personalization is a real-time decision engine and it’s going to choose next-best-action, next-best-offer. What is new is that it’s a service now that runs natively on top of Data Cloud.” A lot of real-time decision engines need their own set of data that might actually be a subset of data. “Einstein Personalization is going to look holistically at a customer and recommend a next-best-action that could be natively surfaced in Service Cloud, Sales Cloud or Marketing Cloud.”

Finally, trust

One feature of the presentations at Connections was the reassurance that, although public LLMs like ChatGPT could be selected for application to customer data, none of that data would be retained by the LLMs. Is this just a matter of written agreements? No, not just that, said Jania.

“In the Einstein Trust Layer, all of the data, when it connects to an LLM, runs through our gateway. If there was a prompt that had personally identifiable information — a credit card number, an email address — at a mimum, all that is stripped out. The LLMs do not store the output; we store the output for auditing back in Salesforce. Any output that comes back through our gateway is logged in our system; it runs through a toxicity model; and only at the end do we put PII data back into the answer. There are real pieces beyond a handshake that this data is safe.”

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

MARKETING

Why The Sales Team Hates Your Leads (And How To Fix It)

Published

on

Why The Sales Team Hates Your Leads (And How To Fix It)

Why The Sales Team Hates Your Leads And How To

You ask the head of marketing how the team is doing and get a giant thumbs up. 👍

“Our MQLs are up!”

“Website conversion rates are at an all-time high!”

“Email click rates have never been this good!”

But when you ask the head of sales the same question, you get the response that echoes across sales desks worldwide — the leads from marketing suck. 

If you’re in this boat, you’re not alone. The issue of “leads from marketing suck” is a common situation in most organizations. In a HubSpot survey, only 9.1% of salespeople said leads they received from marketing were of very high quality.

Why do sales teams hate marketing-generated leads? And how can marketers help their sales peers fall in love with their leads? 

Let’s dive into the answers to these questions. Then, I’ll give you my secret lead gen kung-fu to ensure your sales team loves their marketing leads. 

Marketers Must Take Ownership

“I’ve hit the lead goal. If sales can’t close them, it’s their problem.”

How many times have you heard one of your marketers say something like this? When your teams are heavily siloed, it’s not hard to see how they get to this mindset — after all, if your marketing metrics look strong, they’ve done their part, right?

Not necessarily. 

The job of a marketer is not to drive traffic or even leads. The job of the marketer is to create messaging and offers that lead to revenue. Marketing is not a 100-meter sprint — it’s a relay race. The marketing team runs the first leg and hands the baton to sales to sprint to the finish.

​​

via GIPHY

To make leads valuable beyond the vanity metric of watching your MQLs tick up, you need to segment and nurture them. Screen the leads to see if they meet the parameters of your ideal customer profile. If yes, nurture them to find out how close their intent is to a sale. Only then should you pass the leads to sales. 

Lead Quality Control is a Bitter Pill that Works

Tighter quality control might reduce your overall MQLs. Still, it will ensure only the relevant leads go to sales, which is a win for your team and your organization.

This shift will require a mindset shift for your marketing team: instead of living and dying by the sheer number of MQLs, you need to create a collaborative culture between sales and marketing. Reinforce that “strong” marketing metrics that result in poor leads going to sales aren’t really strong at all.  

When you foster this culture of collaboration and accountability, it will be easier for the marketing team to receive feedback from sales about lead quality without getting defensive. 

Remember, the sales team is only holding marketing accountable so the entire organization can achieve the right results. It’s not sales vs marketing — it’s sales and marketing working together to get a great result. Nothing more, nothing less. 

We’ve identified the problem and where we need to go. So, how you do you get there?

Fix #1: Focus On High ROI Marketing Activities First

What is more valuable to you:

  • One more blog post for a few more views? 
  • One great review that prospective buyers strongly relate to?

Hopefully, you’ll choose the latter. After all, talking to customers and getting a solid testimonial can help your sales team close leads today.  Current customers talking about their previous issues, the other solutions they tried, why they chose you, and the results you helped them achieve is marketing gold.

On the other hand, even the best blog content will take months to gain enough traction to impact your revenue.

Still, many marketers who say they want to prioritize customer reviews focus all their efforts on blog content and other “top of the funnel” (Awareness, Acquisition, and Activation) efforts. 

The bottom half of the growth marketing funnel (Retention, Reputation, and Revenue) often gets ignored, even though it’s where you’ll find some of the highest ROI activities.

1716755163 123 Why The Sales Team Hates Your Leads And How To1716755163 123 Why The Sales Team Hates Your Leads And How To

Most marketers know retaining a customer is easier than acquiring a new one. But knowing this and working with sales on retention and account expansion are two different things. 

When you start focusing on retention, upselling, and expansion, your entire organization will feel it, from sales to customer success. These happier customers will increase your average account value and drive awareness through strong word of mouth, giving you one heck of a win/win.

Winning the Retention, Reputation, and Referral game also helps feed your Awareness, Acquisition, and Activation activities:

  • Increasing customer retention means more dollars stay within your organization to help achieve revenue goals and fund lead gen initiatives.
  • A fully functioning referral system lowers your customer acquisition cost (CAC) because these leads are already warm coming in the door.
  • Case studies and reviews are powerful marketing assets for lead gen and nurture activities as they demonstrate how you’ve solved identical issues for other companies.

Remember that the bottom half of your marketing and sales funnel is just as important as the top half. After all, there’s no point pouring leads into a leaky funnel. Instead, you want to build a frictionless, powerful growth engine that brings in the right leads, nurtures them into customers, and then delights those customers to the point that they can’t help but rave about you.

So, build a strong foundation and start from the bottom up. You’ll find a better return on your investment. 

Fix #2: Join Sales Calls to Better Understand Your Target Audience

You can’t market well what you don’t know how to sell.

Your sales team speaks directly to customers, understands their pain points, and knows the language they use to talk about those pains. Your marketing team needs this information to craft the perfect marketing messaging your target audience will identify with.

When marketers join sales calls or speak to existing customers, they get firsthand introductions to these pain points. Often, marketers realize that customers’ pain points and reservations are very different from those they address in their messaging. 

Once you understand your ideal customers’ objections, anxieties, and pressing questions, you can create content and messaging to remove some of these reservations before the sales call. This effort removes a barrier for your sales team, resulting in more SQLs.

Fix #3: Create Collateral That Closes Deals

One-pagers, landing pages, PDFs, decks — sales collateral could be anything that helps increase the chance of closing a deal. Let me share an example from Lean Labs. 

Our webinar page has a CTA form that allows visitors to talk to our team. Instead of a simple “get in touch” form, we created a drop-down segmentation based on the user’s challenge and need. This step helps the reader feel seen, gives them hope that they’ll receive real value from the interaction, and provides unique content to users based on their selection.

1716755163 298 Why The Sales Team Hates Your Leads And How To1716755163 298 Why The Sales Team Hates Your Leads And How To

So, if they select I need help with crushing it on HubSpot, they’ll get a landing page with HubSpot-specific content (including a video) and a meeting scheduler. 

Speaking directly to your audience’s needs and pain points through these steps dramatically increases the chances of them booking a call. Why? Because instead of trusting that a generic “expert” will be able to help them with their highly specific problem, they can see through our content and our form design that Lean Labs can solve their most pressing pain point. 

Fix #4: Focus On Reviews and Create an Impact Loop

A lot of people think good marketing is expensive. You know what’s even more expensive? Bad marketing

To get the best ROI on your marketing efforts, you need to create a marketing machine that pays for itself. When you create this machine, you need to think about two loops: the growth loop and the impact loop.

1716755163 789 Why The Sales Team Hates Your Leads And How To1716755163 789 Why The Sales Team Hates Your Leads And How To
  • Growth loop — Awareness ➡ Acquisition ➡ Activation ➡ Revenue ➡ Awareness: This is where most marketers start. 
  • Impact loop — Results ➡ Reviews ➡ Retention ➡ Referrals ➡ Results: This is where great marketers start. 

Most marketers start with their growth loop and then hope that traction feeds into their impact loop. However, the reality is that starting with your impact loop is going to be far more likely to set your marketing engine up for success

Let me share a client story to show you what this looks like in real life.

Client Story: 4X Website Leads In A Single Quarter

We partnered with a health tech startup looking to grow their website leads. One way to grow website leads is to boost organic traffic, of course, but any organic play is going to take time. If you’re playing the SEO game alone, quadrupling conversions can take up to a year or longer.

But we did it in a single quarter. Here’s how.

We realized that the startup’s demos were converting lower than industry standards. A little more digging showed us why: our client was new enough to the market that the average person didn’t trust them enough yet to want to invest in checking out a demo. So, what did we do?

We prioritized the last part of the funnel: reputation.

We ran a 5-star reputation campaign to collect reviews. Once we had the reviews we needed, we showcased them at critical parts of the website and then made sure those same reviews were posted and shown on other third-party review platforms. 

Remember that reputation plays are vital, and they’re one of the plays startups often neglect at best and ignore at worst. What others say about your business is ten times more important than what you say about yourself

By providing customer validation at critical points in the buyer journey, we were able to 4X the website leads in a single quarter!

1716755164 910 Why The Sales Team Hates Your Leads And How To1716755164 910 Why The Sales Team Hates Your Leads And How To

So, when you talk to customers, always look for opportunities to drive review/referral conversations and use them in marketing collateral throughout the buyer journey. 

Fix #5: Launch Phantom Offers for Higher Quality Leads 

You may be reading this post thinking, okay, my lead magnets and offers might be way off the mark, but how will I get the budget to create a new one that might not even work?

It’s an age-old issue: marketing teams invest way too much time and resources into creating lead magnets that fail to generate quality leads

One way to improve your chances of success, remain nimble, and stay aligned with your audience without breaking the bank is to create phantom offers, i.e., gauge the audience interest in your lead magnet before you create them.

For example, if you want to create a “World Security Report” for Chief Security Officers, don’t do all the research and complete the report as Step One. Instead, tease the offer to your audience before you spend time making it. Put an offer on your site asking visitors to join the waitlist for this report. Then wait and see how that phantom offer converts. 

This is precisely what we did for a report by Allied Universal that ended up generating 80 conversions before its release.

1716755164 348 Why The Sales Team Hates Your Leads And How To1716755164 348 Why The Sales Team Hates Your Leads And How To

The best thing about a phantom offer is that it’s a win/win scenario: 

  • Best case: You get conversions even before you create your lead magnet.
  • Worst case: You save resources by not creating a lead magnet no one wants.  

Remember, You’re On The Same Team 

We’ve talked a lot about the reasons your marketing leads might suck. However, remember that it’s not all on marketers, either. At the end of the day, marketing and sales professionals are on the same team. They are not in competition with each other. They are allies working together toward a common goal. 

Smaller companies — or anyone under $10M in net new revenue — shouldn’t even separate sales and marketing into different departments. These teams need to be so in sync with one another that your best bet is to align them into a single growth team, one cohesive front with a single goal: profitable customer acquisition.

Interested in learning more about the growth marketing mindset? Check out the Lean Labs Growth Playbook that’s helped 25+ B2B SaaS marketing teams plan, budget, and accelerate growth.


Disruptive Design Raising the Bar of Content Marketing with Graphic

Source link

Keep an eye on what we are doing
Be the first to get latest updates and exclusive content straight to your email inbox.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Continue Reading

Trending