Cookies have been used for years to track web visitors, improve user experience, and collect data to target the right audience.
In order to meet the privacy expectations of consumers, Google is killing the cookie. As a result, marketers are concerned about not collecting the right data and are increasing spending to reach the same ends as before.
It is important for advertisers not to panic, however. Third party cookies are blocked only on Chrome browsers, which means advertisers will not have access to information about their users’ activities on other sites. While first party cookies are accepted automatically, visitors must be informed that they are accepting a third-party cookie due to the amount of data that companies can retain from them.
First party cookies will remain intact, so you’ll still be able analyse how customers interact with your brand and provide truly personalized experiences and create new relationships thus, driving revenue growth.
What this means is that Marketers will now focus on first party data collection. This gains basic analytics that can help develop / automate an effective marketing strategy by building trust with your current customer base and in turn, assist in retention.