In our previous blog, Deepen the Understanding of your Audience: 6 Ways to Overcome the Challenge, one of the challenges we examined was: Establishing privacy-safe segmentation. But what does this really mean and how are identity and segmentation evolving?
First, let’s look at why segmentation is getting harder. Third-party cookies, which have long been that backbone of identifying and segmenting audiences, are on their way out and according to Ad Age research, 80% of marketers are concerned about the impact the deprecation will have on personalization or performance efficiency and ROI.
Privacy regulations such as CCPA and GDPR are another issue. The 2019 IAPP-EY Annual Governance Report noted that 46% of US organizations named “compliance (beyond the GDPR)” as their highest priority.
Segmentation is just half the story. Identity is the crucial first step to even being able to segment audiences in the first place—and that’s getting harder, too. As people consume content on more diverse devices, it’s increasingly difficult to reconcile audiences with their online behaviors.
Forrester found that 71% of brand marketers struggle to maintain an accurate consumer ID and 69% grapple with how to understand if their addressable audience is active and reachable online. In sum, marketing campaigns are continually wracked by less accurate targeting and wasted marketing spend. Even so, a recent Forrester survey revealed that 75% of consumers expect brands to know why they are calling or contacting them before they even do.
It seems grim, but necessity is the mother of invention and identity resolution solutions that collect and match IDs are poised to get a $2.6 billion boon by 2022 as brands and marketers further invest in deepening the understanding of their audiences.
But not all IDs are the created equal. Conviva, for instance, tracks metrics utilizing a persistent, privacy-safe ID, so we can provide accurate data on every stream, every screen, every second while still maintaining the privacy of your customers and adhering to strict regulations.
This can enable robust segmentation and insights around your audience without needing to rely on a cookie, including measuring the viewer journey from social media platforms into your own video experiences on web, mobile or OTT.
As once disparate elements of digital marketing converge, modern marketers and brands need to understand how social media, video content, and advertising analytics interact across platforms, devices, and households to be able to successfully identify and segment valuable audiences. A persistent, privacy-safe ID will help you create better, more personalized content to build your audiences and understand content consumption patterns, viewing behavior, and demographics to command higher ad rates with more precise targeting.