Yes, you can improve digital marketing conversions while being privacy-first. Read on!
With billions of dollars at stake, digital marketing has grown significantly dependent on user identification, tracking, and targeting. Digital advertising is getting a lot of attention lately, and for good reason. The digital advertising world has evolved to such an extent that it's now a multi-billion dollar industry, with mobile and video ads taking over traditional display ads as the most common form of digital marketing.
While the rapid growth of this industry has been great for the economy, it's also raised some privacy concerns. One of the biggest areas of concern is GDPR (General Data Protection Regulation), which was passed in 2016 to protect consumer data privacy rights within the EU. This law requires companies to obtain consent before using personal information for marketing purposes--and if you don't get consent, you could be fined up to 4% of your annual revenue by local regulators!
Cookie consent is another topic that's been covered extensively in recent years. Consumers are increasingly wary about cookie tracking technologies used by websites and apps, so marketers have had to find ways around them--including using unique IDs instead of cookies or asking users for permission before installing cookies on their devices.
The focus on privacy is considerably increasing among users and regulators and is being acknowledged by providers. We are seeing efforts on regulations, cohort-based solutions, 3rd party cookie elimination, specific device level opt-ins, and many other initiatives.
A much-overlooked solution that does not depend on identifying the user as an individual but may work wonders in conversion is Contextual Marketing. Contextual Marketing does not depend on who the user is, but what they are looking for in your website as a primary driver for conversion. This means that context is more important than demographics when targeting consumers and selling them your product. It also means that you should focus on providing an engaging experience for every visitor to your site instead of just trying to sell them something right away.
Contextual marketing works well with three key levers:
1. Have a detailed classification of your content on your website and what they mean for different segments of your customers.
2. Understand the user behavior across this classified content to predict the affinity to conversion.
3. Based on the prediction, have intelligent Call-To-Actions to convert the user.
While user identification best practices will continue to evolve with privacy requirements and Web3, leverage Contextual Marketing to serve your users better. Here are a set of open source libraries that help you implement contextual marketing on your website.
Solution Source, Deployment Instructions are not available for this kit.