Curbing those Cookie Cravings – The Future of Ad-Tech - Lisa Douglas-Paul

According to the Digital 2020 report, Google alone accounts for 80% of the traffic from Caribbean consumers. So, for Caribbean businesses that depend heavily on a solid online strategy to grow their business, Google’s announcement to do away with cookies by 2022 could cause some serious tabanca.💔

Advertisers and brands are now focused on whether the replacement for cookies will hit the sweet spot.

It’s not all gloom and doom! Cookies are only one ingredient in a host of third party data solutions. Essentially third party data allow for any entity that doesn’t have a direct relationship with the site the consumer visits to use the ‘crumbs’ of information left lying around as they rummage through various sites. A profile is built, and, voila, the consumer gets targeted for ads and promotions based on this information.

The ad-tech community is cooking up replacements for cookies and here are some top contenders:

1. The “Browser Only” approach empowers the user with the ability to change the browser settings to control which sites have access to their information. On the other hand, it limits advertiser’s access to volumes of data that they need to optimize their campaign efforts.

2. The “Aggregate User Identity” concept being proposed in Google’s Privacy Sandbox is also a frontrunner. FLoC (Federated Learning of Cohorts) allegedly gets around the privacy issue, as it doesn’t track an individual’s specific data but rather sees it as part of a larger ‘cohort’ identity. But advertisers have concerns as to whether it would give the type of targeted engagement that they need.

For some, the future is hybrid. Relying on third-party data alone is good. But merge it with first-party data, which was collected with user consent, to convert it into a unique consumer ID, and now we’re talking. A mélange of data management solutions could be the sweet spot for all players in the game. It could provide advertisers with richer customer views 💳, reduced data gaps and, most importantly, it could build trust between them and the consumers they’re trying to engage.

Caribbean time and twine - Sonja Dumas

You know we have the rep. It’s even named after us – Caribbean Time, 🌞 It’s the way we Caribbean folks have about getting around to something about two hours after we’re really supposed to have got around to it. We do it at home, in business, in leisure – you name it. It’s a kind of “Whey yuh worryin’ for – ent ah reach?” attitude that speaks to both off-handedness and joie de vivre.

Time is different in our part of the world for sure. But if you’re going to make those millions, it’s probably a good idea to have a little structure in the time department. It’s actually the one few resources over which you have some control. No – you can’t turn it back or make it stop until you catch up. But you can manage what you’ve been given a little better. So when you’re burning that midnight oil to figure out the master plan to your millions, devote an hour to creating a schedule of how you’re going to get there.

Figure out, in order of priority;

• What you need to get through each week as you work towards your goal.

• Assign specific time blocks for finance, operations, brainstorming, meetings, etc.

• Cut and paste that weekly schedule into successive weeks so you establish a rhythm.

• If people want to meet when it’s your finance time, tell them you’re not available - unless of course they want to invest a couple million dollars in your business or project. And that wouldn’t be cheating, because, technically, that’s a finance-related moment, right?

The biggest challenge is to actually stick to the schedule 🗓️. This is where Caribbean Time is a double-edged sword. Resist the temptation to slack off. Follow the plan. On the other hand, make sure that you reward yourself with a couple of breaks where you could slack off all you want. Take that 15-minute coffee or coconut water break! Just balance your Caribbean Time gene with your drive to succeed. It’ll work out in the end. Time, as some Caribbean folks like to say, is longer than twine.

Who doesn’t love cookies? - Lisa Douglas-Paul

Who doesn’t love cookies?
In an era where everyone is trying to be more health conscious, news of Google’s decision to do away with cookies by 2022 sounds like it's right on trend...right? Except these aren’t the type of cookies that add a few extra pounds; these babies have fueled the multi-billion-dollar ad-tech industry 📈 for the past decade.

So, what are cookies and what’s all the fuss?
Well, it depends on who you talk to. Some say cookies are a useful tool that provides visitors with a personalized experience, building a profile as you navigate various websites. Others argue that cookies serve the advertising agenda, enabling sites collect massive amounts of data on visitors and use it to push targeted adverts. 💲

Okay but…why throw it out?

• Because it’s a bit creepy.

• As the public became increasingly aware of the massive amount of data being collected by these sites, lightbulbs started to go off.

• Who has access to this data?

• Who is it being shared with?

• Over time, various regulators all over the world took note and have enacted General Data Protection Regulations to address the privacy concerns.

The major tech giants have responded by coming up with various solutions that offer greater transparency but don’t cut off their revenue stream from data-driven targeting and advertising.

Ok, but why should I care?
Because for 82.9% of the Caribbean population that is online, Google was the top website by traffic in 2020. That means that any changes that Google makes to its ad-tracking strategy will undoubtedly impact the online advertising thrust of Caribbean businesses that heavily depend on Google and advertising cadre. That’s right! The way you measure, target and engage your target customer segments can change significantly in the next few months .

As the cookie crumbles, Google and its competitors are coming up with various replacement solutions. Some are looking towards artificial intelligence (AI), some are looking at widening the data pool. To stay ahead, Caribbean businesses will need to explore more dynamic integrated solutions to fuel their online marketing strategies as the future of ad-tech continues to take shape.