Google produced a data and measurement strategy post that looks at the near future of cookies, privacy, and conversion tracking. The article describes what marketers should expect in 2023 and what they should be doing now to prepare.
The post examines conversion-boosting tactics and delivers them in the guise of debunking three myths about the privacy-first marketing realities of the not-too-distant future.
It is said that cookie deprecation will cause website tags to malfunction, that the third-party cookies will be taken away over time, according to Google, but this will not hinder the capacity to effectively evaluate and optimize Internet marketing activities. They said that to optimize marketing campaigns, they recommend using global site tag (gtag.js) or Google Tag Manager.
The second myth is that an accurate measurement is dependent on data from outside parties. Third-party cookies enabled contextually relevant advertising, which increased customer targeting for marketers and is commonly referred to as creepy adverts by consumers. According to Google, now is the best moment to start thinking about a First-Party Data Strategy.
Google mentioned that the third myth is protecting privacy and achieving corporate goals are incompatible. The company admits that the loss of third-party data will result in measurement gaps, which it says is unavoidable.
According to the study, only 10% of the population was covered by privacy restrictions in 2020, but by 2023, a whopping 65 percent of the population will live in nations with privacy-protecting regulations that limit how much of their Internet activity may be traced.
They do, however, indicate that privacy-safe machine learning models can assist in providing reliable customer journey data.