Retargeting Marketing is Slated for Depreciation in 2024
Have you ever browsed an online store for a new pair of shoes, only to see ads for those same shoes following you around the internet for days? That's the power of retargeting, a marketing strategy that uses website visitor data to deliver targeted ads.
But here's the thing: the clock is ticking on pixel-based retargeting as we know it so we've assembled the most common retargeting mistakes made and ways to avoid them.
Pixel-Based Retargeting: A Powerful Tool Facing Uncertain Future
The Changing Landscape of Retargeting
The digital marketing landscape is undergoing a major shift. Privacy is becoming a top priority for users, and tech giants are taking notice. Here are some key changes impacting retargeting:
Apple's Intelligent Tracking Prevention (ITP):Â Apple's ITP makes it harder for websites to track users across the web.
Google's planned phase-out of third-party cookies:Â By the end of 2024, Google Chrome will no longer support third-party cookies, a foundational technology for pixel-based retargeting.
Stricter data privacy regulations (GDPR, CCPA/CPRA):Â Regulations like GDPR and CCPA/CPRA give users more control over their data, further limiting the ways businesses can track and target them.
What Does a Cookie-less Future Means for Your Business?
These changes have two major consequences for businesses:
Decreased effectiveness of pixel-based retargeting:Â With limited tracking capabilities, retargeting campaigns won't be as effective at reaching the right audience.
Increased marketing costs for alternative solutions using AI technology:Â Businesses will need to invest in new AI strategies that don't rely on third-party cookies, which can be more expensive and complex to build.
Maximize Your Marketing Retargeting Efforts Now
Don't wait until it's too late! There's still time to maxamize your retargeting efforts while there is access. Here's how you can make the most of retargeting while it's still a viable option:
Avoid Retargeting Mistakes and Leverage Existing Pixel-Based Retargeting
There's still time to capture leads and conversions with pixel-based retargeting. It's a proven strategy with easy implementation and a high return on investment.
Invest in First-Party Data Now
Building a strong foundation of first-party data, which is information you collect directly from your customers, is crucial. This will allow you to target users with relevant content and personalize their experience even without third-party tracking and take advantage of the capabilities of the new AI tools.
Explore Contextual Advertising
Contextual advertising allows you to target audiences based on the content they're consuming, not their individual browsing history. This is a great way to reach relevant users without relying on tracking.
Preparing for the Cookie-less Future Now
With pressure mounting politically and backlash from consumer privacy groups, it’s likely Google, Facebook and other big tech platforms that sell pixel targeting advertising will not be put off as it has in the past.Â
To prepare for this inevitability, which is now looming at the end of 2024, businesses can start building their online platform with more complex customer outreach strategies that go beyond basic retargeting. Here’s a top-level overview of these strategies:
Account-Based Marketing (ABM):Â This strategy focuses on targeting high-value accounts with personalized campaigns tailored to their specific needs and pain points.expand_more It requires in-depth research and relationship building but can yield significant ROI.
Omnichannel Marketing:Â This approach leverages multiple channels (website, email, social media, SMS, etc.) to create a cohesive customer experience across all touchpoints.expand_more It requires careful coordination and planning but allows you to reach customers wherever they are in their buying journey.
Marketing Automation:Â This involves using software to automate repetitive marketing tasks, such as email campaigns, lead nurturing, and social media publishing.expand_more It frees up your team's time to focus on more strategic initiatives and allows for personalized communication at scale.
Content Marketing:Â Creating high-quality, informative content (blog posts, articles, infographics, videos) establishes your brand as a thought leader and attracts potential customers organically through search engines and social media sharing.
Influencer Marketing:Â Partnering with social media influencers who have a strong following in your target market allows you to tap into their audience and build brand awareness through their recommendations.
Don't Wait: Get Started on How You Manage Your Customer Data Now
The wake-up call for businesses is now. Businesses that haven't started preparing for a cookie-less future can expect to see:
Limited Reach and Effectiveness
When retargeting is depreciated, access to retargeting every website visitor's behavior is gone.
You'll be limited to reaching only those who have opted-in to email marketing or other forms of first-party data collection.
Increased Marketing Costs
New solutions like first-party data, AI tools, and consent management systems require investment and system set-up requires time and talent. Making the transition gradually is advised.
These campaigns can be more complex and expensive to set up, manage, and test if they are done on a short time frame.
Time is Running Out - What Your Business Can Do Now
Pixel-based retargeting is expected to be deprecated by the end of 2024. Take advantage of current pricing structures and campaign strategies before they change.
The Takeaway: No More Raiding the Cookie Jar
The message is clear: pixel-based retargeting is losing its effectiveness. The future of retargeting lies in first-party data and alternative targeting methods with AI tools. Don't put off shifting your mindset or wait until it's too late!
Putting new structure and strategies in place now enables your business to make a smooth transition into having a moat of customer data to work with when the big tech platforms begin to block access and shift to using AI enhanced tools.
Investing in building your customer database, and security over time decreases the chance of lost revenue and falling behind when the inevitable change to the platforms goes into effect.
Get Ready for the AlwaysOn™ Future Now
Contact us today to learn more about how we can help you develop a future-proof retargeting advertising and marketing strategy for your business. Floh Creative's proven AlwaysOn™ process is geared to set your business up for growth and success.
We can get you started with the process in three steps, getting your data ready, taking action, and shifting mindsets and orienting your business toward using the cookie-less, AI marketing future. Let's work together to ensure your marketing efforts continue to reach the right audience and drive conversions that will grow your business!
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Written by Mary Ellen Schrock for Floh Creative.
Mary Ellen is the Chief Disruptor of Floh Creative. A bright, intuitive creative she has a passion for solving complex design and business challenges, and brand storytelling. Mary Ellen’s 20+ years of business strategy and creative problem-solving experience working with Corporate, Fortune 50 and Entertainment giants has created household name and recognizable identities for Coca-Cola, BMW, Nike, Oprah Winfrey, and Disney. She's been the creative force behind the successful brand launch campaigns for Lotus Cars, Disney - The Lion King Broadway, and Warner Bros. Entertainment.
Floh Creative partners with brands and businesses to build tools and deploy strategies to produce measurable results and grow business.
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