Featuring:
Stephanie Liu, Senior Analyst and Brett Kahnke, Principal Analyst
Show Notes:
Consumer and buyer data is getting harder to access, and many marketers haven’t adapted. What should they do to thrive in an increasingly data-deprived world? This week on What It Means, Senior Analyst Stephanie Liu and Principal Analyst Brett Kahnke unpack the complexities of data deprecation and offer actionable insights for both B2C and B2B marketers.
The episode begins with a quick recap of the past five years in data deprecation, from Safari blocking all third-party cookies by default to new privacy regulations and the rise of ad blockers to the dominance of walled gardens. Liu explains how these factors have made consumer data increasingly difficult to access.
Yet despite the pressing need to adapt to these data-restricting forces, B2C marketers have been slow. Google’s about-face on deprecating third-party cookies in its Chrome browser had “everyone sort of taking their foot off the gas,” says Liu. In fact, recent Forrester research found that only about 20% of B2C marketers are testing alternative targeting methods, she notes.
In the B2B world, Kahnke explains, the picture is a bit different. B2B purchases aren’t quick or impulsive, as they may be in the B2C world — so even though cookie deprecation constrains B2B marketers’ visibility into potential buyers, it typically doesn’t impact revenue. A bigger concern, he says, is Google’s proposal to block IP addresses, which “are the primary way that companies have to know that activity is linked to a business.” This hampers B2B marketers’ visibility into businesses that may be in market for the particular product or service that they offer.
Later in the episode, the analysts stress the risks of not strengthening data privacy practices. These include regulatory fines (though small), strained compliance relationships, and, most crucially, a loss of consumer trust. Kahnke adds that in the B2B realm, failing to align internal teams on privacy strategies can create roadblocks that diminish marketing effectiveness.
To stay ahead, Liu advises B2C marketers to strategically identify the data they truly need and to begin testing alternative methods like contextual targeting. For B2B companies, Kahnke suggests reevaluating marketing mixes, building partnerships with legal teams, and finding opportunities to collect first-party data.
The episode ends with the analysts sharing their data deprecation predictions in the B2C and B2B realms for the coming year, so stay tuned to hear those.
