Firstly, keep calm and cookie on. As we mentioned, we see this as a huge opportunity for forward-thinking brands to broaden and deepen their relationships with customers.
We recommend that brands focus on the following core initiatives:
- Get the basics right. Build customer relationships by developing a consent-driven CRM database – this allows brands to collect and master their zero and first-party customer data.
- Continue to use existing closed media ecosystems (walled gardens) like Google and Facebook, and form direct partnerships with publishers and retailers, like Amazon, to access their first-party data (second-party data to the brand).
- Make use of tried-and-tested methods like contextual targeting, which will continue to reach consumers at key moments of research and inspiration.
- Use predictive analytics and machine learning to fill in the missing blanks.
- Look at in-housing of core data and media functions.