Hey folks! All right, I have seen these chats in a lot of places online, but I wanted to bring it here to see what everyone’s thoughts are and see if we can consolidate it here.
Let's talk about what's going on with some monumental shifts happening in ecommerce marketing and advertising. After Apple's privacy changes for app tracking in IOS 14.5 and Google's 3rd party cookies phasing out in 2023, there's going to be a lot of impact to how marketers can target and infer information about their prospects if they don't have a direct relationship with them.
Doing a search here on Klaviyo, they recently put out a few guides and a blog post about what these changes mean to marketers and how to address these challenges. I'll link them here:
- A Marketer’s Full Funnel Guide to Navigate Data Privacy Changes
- Less Stalking, More Talking
- A CMO’s Advice on How to Deal with Changes to Consumer Data Privacy
From my experience partnering and scaling with merchants at Retention Commerce, it's been my mission to help clients build their direct relationship with their audience through email and SMS in order to own their customer data (Zero Party or 1st Party Data) - aka Owned Marketing. I think many of us here share that vision.
The best merchants that do this successfully are the ones that has forged a robust bridge to not only know their customers, but to message them at the right time with the right context - and shift the reliance of this data away from 3rd party platforms to their own.
It’s evident (to me at least), that the ones that get the best performance out of their advertising, are the ones that build out their customer journey and create a long term relationship with their customers - the first purchase is rarely the first time a prospect visits a site, and the 2nd purchase of any customer’s CPA is often times zero if done right!
As a business, what are some marketing tactics that your brand would shift towards in light of these Data Privacy changes? If you’re an Agency or Tech Partner, what insights or tips would you share with merchants?