Brands and publishers are beginning to band together in a bid to tackle data deprecation and concerns around the increase in privacy regulations and browser updates, according to the Forrester Consulting Opportunity Snapshot study commissioned by Permutive.
The survey found that 73% of brands are concerned about the increasing privacy regulations, while 70% fear that consumers will decline consent to use their data for marketing. Despite this, 50% of publishers see this as an opportunity for them to work more closely with these brands though, in 49% of cases, they recognise the need for new technology.
“This research only goes to highlight that publisher first-party data will be paramount to tailored and relevant digital advertising and will drive trusted, direct relationships between brands and publishers,” said Joe Root, CEO and Co-founder of Permutive.
“While there has been much discussion surrounding diminishing third-party cookies, it should be seen as a tremendous opportunity to build privacy-safe solutions that empower publishers and ensure brands can reach their audience while building trust with consumers.”
95% of publishers have already started building their first-party data monetisation strategies, but just 28% have an established strategy in place. As part of this work, 90% of publishers now have at least one direct brand relationship in place, and 60% have five or more direct relationships.
Though brand adoption is on the rise as a result of data deprecation, uptake of publishers’ first-party data still remains an issue. Just 39% of brands currently use publishers’ first-party data in half or more of their campaigns, and 41% are still relying on third-party data to reach their audiences.
“Publishers’ first-party data will be the new media currency in the future of digital marketing as a privacy-safe foundation for brands to continue targeting consumers — without identifying and tracking them across domains. But brands and publishers must partner if they are to tackle data depreciation,” said Root.
*Permutive is a client of Bluestripe Communications, owned by Bluestripe Group, owner of NDA.