GDPR has placed many restrictions on the digital advertising marketplace. Despite the squeeze, the immediate and long-term corrective measures will help digital advertising thrive and innovate in the future.
It’s probably not that surprising to hear this, but in the post-GDPR world third-party data targeting has been losing some ground. With fears of remaining in compliance with GDPR, coupled with the aftermath of the Facebook-Cambridge Analytica data-breach, as well as Google making changes to data available to marketers, there has been a major overhaul in advertising.
Ad Retargeting is Growing
Dire predictions for the future of advertising aside, GDPR has not killed ad retargeting. In fact, it’s growing. Brands report cutting spending on prospecting campaigns due to the use of third-party data but continue to retarget ads in the wake of GDPR enforcement.
While prospecting is definitely down, it’s not completely dead. Seasoned programmatic marketers realize that it just makes sense to retarget an audience they have already spent the time and money prospecting. While brands may be spending less on prospecting, they have not stopped entirely as prospecting and retargeting work in tandem.
The Hardest Part of GDPR
For most brands, the hardest part of GDPR is that there’s a lot out of their control. While brands have locked down customer data, partnerships with vendors that collect data are a continued anxiety point for brands.
The Future of Audience Targeting
The limitations of GDPR make first-party data all the more valuable and crucial for brands. And, since first-party data is king, it’s up to brands to fill in the gaps that exist in their dataset. The best way to fill in these gaps is to build high-quality content and to develop a data-driven content strategy to identify which types of content perform the best. And when you know what works best, the best strategy is to double down on high performing content.
Where to begin? Consider investing in AI or machine learning technologies that can also aid in the creation of engaging content and personalized experiences. Brands who adopt the technologies quickly will outpace their competitors for the best content.