Partner content *
While subscriptions are the rising revenue trend in digital news media, advertising remains by far the most important online segment for most mainstream publishers and how to grow it is a key question.
In the first quarter of 2021, digital advertising was the fastest growing revenue stream for most UK newspaper brands and magazine publishers, worth over Â£ 200million. This overshadows the direct reader revenue from subscriptions and memberships. After a difficult pandemic in 2020, online advertising revenue is rebounding rapidly for news publishers in the UK and US, meaning it is even more urgent for them to capitalize on this rebound.
These revenues are highly dependent on third-party identification cookies served through dominant search engines. These are the files that readers upload that allow marketers to follow readers and serve them with ads tailored to their interests.
This display advertising revenue, which totals tens of billions for publishers around the world, is threatened by the disappearance of third-party cookies.
In June, Google postponed the end of third-party cookies in Chrome until the end of 2023 as concerns grew over its proposal to remove audience identification technology from publishers and into its own system.
However, according to the global analytics and activation platform Piano, publishers should act now to protect and grow this vital ad revenue, rather than having Google dictate the pace of change or wait until the last minute to start planning. an alternative.
Piano Director of Growth Joanna Catalano said, âPublishers should use this time frame to develop well-founded strategies based on engaged and loyal users who are willing to share their identities and appropriate personal information.
âAt Piano, over the past year, we’ve spoken to publishers, brands, agencies, ad technology companies and industry experts, and it’s clear they all understand the value of this approach,â but many do not know where to start. This break creates an opportunity to develop a solid strategy for engaging and converting anonymous users to known and known profile users.
Piano helps publishers develop first-party and zero-party data strategies that are potentially much more efficient and lucrative than the soon-to-be-phased third-party approach.
Third-party data is information collected by an outside company about your readers. First-party data is information collected by publishers about their own readers. Zero-Party Data is how Piano describes personal information voluntarily provided by a reader to a publisher, and is the most valuable data a business can collect. This last category allows publishers to create a profile of their users and still be able to offer a personalized browsing experience after the gradual deletion of cookies.
The more readers are willing to share their data directly with publishers, the less publishers care about changes to search engines and instead dictate their own direction.
Catalano says: âIt is clear from our lessons from last year that publishers and brands will need more than just one approach to delivering relevant and well-targeted advertising in the post-cookie era.
âIt’s critical to identify technology and strategic partners who understand and can help execute a multi-faceted strategy that works with anonymous and known users, direct and programmatic advertising. Doing this will have immediate value, opening up opportunities with the significant portion of the public already browsing without third-party cookies.
Promoted White Paper: Download Piano’s ten-page guide on how publishers can win in a world without third-party cookies. Packed with useful data and information.
How Publishers Can Increase Their Online Advertising Revenue In A World Without Third-Party Cookies
1) Start collecting first and zero-party data
Start targeting segments of your audience and guiding them to sign up and provide their data with incentives like being able to access locked content.
2) Embedded tools to store and manage consent
Whether it’s a data management platform, customer data platform, or consent management platform, now determine where you will store all of that data and consent.
3) Invest in audience segmentation tools
You need audience segmentation tools to create subsets of your users. This can be based on characteristics pulled from zero and first party data. They can also take advantage of similar modeling to produce larger audience pools.
4) Collect data at the right time
Collecting more data over time requires thinking about the right time in the customer journey to request it. At each step, try to figure out how to bring users deeper into the funnel with the right offers at the right time that will bring you more data to complete your customer profile.
5) Veterinary identity partners
You need this to override cookie matching and enable all zero and first party data that you will collect. Make sure to check their offers to see which ID might work best for your business.
6) Start testing solutions now
As Travis Clinger, Senior Vice President, Addressability and Ecosystem, at Piano Partner LiveRamp, said at a recent Piano event, you don’t want to be caught trying to apply new technologies and strategies to the business. mid-fourth quarter 2023 holiday season. It’s worth testing different solutions, including IDs and different data or consent management platforms, right now.
Even with third-party cookies here for two more years, there are major benefits to starting your plan to replace reliance on this legacy technology now. Starting earlier means you’ll be on the right track not only to collecting richer data on your users, but also to better engage them with relevant, privacy-compliant ads that could turn them into your most loyal customers in the long run. .
* This article was produced in collaboration with Piano, one of Press Gazette’s trusted business partners