Are you ready for the Cookiepocalypse?

Cookies have become an integral part of how we browse the internet. These small data files help store information about a user's preferences and online behaviour, making their experience more personalised and convenient. However, in recent years, concerns about user privacy and data collection have led to the emergence of the "Cookiepocalypse."

The "Cookiepocalypse" is a term used to describe the phasing out of third-party cookies, which are placed by websites other than the one a user visits. These cookies are often used to track a user's browsing behaviour across multiple websites, allowing advertisers to gather data about users to target them with tailored ads. In response to these concerns, major technology companies such as Google, Apple, and Mozilla have announced that they will be eliminating support for third-party cookies in their web browsers.

Google's announcement, which was made in early 2020, was particularly

significant given that the company's Chrome browser has a market share of over 60%. While the elimination of third-party cookies may be seen as a step in the right direction toward protecting user privacy, it has also raised concerns about the impact it will have on the advertising industry. Without access to third-party cookies, advertisers may struggle to target users with personalized ads, which could result in a loss of revenue for publishers and ad tech companies.

Google has announced that the planned phasing out of cookies on Chrome will now be delayed until 2024, initially at the end of 2022. Although this might be good news to many marketers, advertisers, and publishers. There's still, plenty to plan and prepare for.

Google advised:

"People can access a broad range of ad-supported content with confidence that their privacy and choices are respected If digital advertising doesn't evolve to address the growing concerns people have about their privacy and how their personal identity is being used, we risk the future of the free and open web."

Google users now lack confidence in the tech giant and according to a study by Pew Research Center:

"72% of people feel that almost all of what they do online is being tracked by advertisers, technology firms or other companies, and 81% say that the potential risks they face because of data collection outweigh the benefits."

So what is your business doing to prepare for the Cookiepocalypse?

Firstly, businesses need to understand what is happening, and what measures to put in place, a lot of businesses rely solely on third-party cookies, this will no longer be viable, you will need to start looking at other ways of gathering data, for example,1st party data, data collected off your own website and social pages.

To avoid falling behind on competitors’ numerous businesses will need to gauge impact and possibly rethink their privacy, data, and marketing strategies right away to prepare for the Cookiepocalypse.

Businesses must not only focus on how they power and use consumer data to unlock more value from it but also create more personalised marketing and shopping experiences for their consumers. How they can optimise the collection of this data in the first place? There is no one-size-fits-all approach to this.

Businesses must also consider the impact of this shift and determine how viable their current data strategy is. In many cases, companies will need to strengthen their first-party data strategy, as well as explore other methods of data acquisition such as third-party data resellers and the development of data groups via new business partnerships to supplement first-party data in a cookie-less world.

According to the NRF:

"One common and understandable concern as businesses begin to refine their strategy is the perception of a push / pull relationship between innovative consumer experiences and privacy concerns related to data collection and use. There’s a mistaken sense that companies have to choose one or the other and potentially leave opportunities on the table or — worse yet — pursue data strategies that overlook the privacy concerns of their consumers. Companies that are able to bend these challenges into a competitive advantage will see past the false dichotomy of privacy versus innovation."

So, are you ready for the Cookiepocalypse??