LiveRamp’s managing director for Asia Pacific, Melanie Hoptman, believes data-driven marketing’s evolution beyond outdated third-party signals is enabling better measurement than ever before.
Speaking to Mediaweek, Hoptman describes data collaboration as using technology to combine and analyse data sets within an organisation or with partners to enable a wide range of use cases.
“Data collaboration can uncover new consumer insights and create brand-building media networks. It can be intracompany, by connecting data silos across the enterprise, cross-brand, cross-industry, cross-cloud, and more,” she said.
“In any case, it’s about imagining what data could transform your business and collaborating with partners to get it.
“In particular, authenticated identity offers a way for marketers to leverage people-based marketing, enabling them to understand their customer’s journey every step of the way, and better yet personalise every touchpoint to maximise the value for both sides while providing the engaging experience that customers want.
“By unlocking this ability to market to, and measure, every step of a customer’s journey, marketers are able to drive better results from their marketing.”
Hoptman says while these conversations surrounding measurement may have started because of the “rightful shift towards consumer privacy”, the industry needs to see the usefulness of data collaboration as companies look to grow their network of collaborations with strategies that respect consumer privacy.
“Companies are uncovering new data collaboration use cases every day, underscoring the tremendous upside of shiting to cookieless solutions that enable continued data-driven marketing.”
As third-party cookies rapidly leave the industry ecosystem, signal loss is one of the main consequences, and Hoptman says it is one of the key drivers for retail media networks.
“Retail media networks will play a critical role in creating new ways for advertisers to optimise campaigns, expand audiences, deepen engagement, and drive growth without the cookie.
“As more retailers and data-rich companies in other verticals launch media networks, advertisers need to be able to follow the customer journey across media networks in order to reach all of the places where their customers are.
“This makes it critical to have an identity solution that creates a consistent, unified view of consumers across channels.”
See also: Gavin Lockhart: Death of third-party cookies might be delayed, but brands should act now
According to Hoptman, better measurement is not only possible for marketers, it’s easier to realise the benefits of data collaboration than ever before.
“However, marketers need to set themselves up to capitalise on these benefits.
“Creating the omnichannel view of the customer, as well as closing the loop with actual conversions and sales, is only possible when marketers have an identity strategy that helps them understand the real people they’re targeting and their touchpoints across their journey, as well as using this people-based marketing to power data collaboration with the retailers at the point-of-sale.
“All of these cutting-edge use cases require a solid foundation: starting with a first-party data strategy, then layering an identity solution on top of that, then leveraging the deterministic identity to power better outcomes from data collaboration.
“[LiveRamp] is working with marketers who are realising the benefits of these strategies today, and there’s no argument that this is the way to continue driving the right consumer experiences, as well as the most meaningful marketing results, to drive companies forward into the future.”