Agencies welcome Google cookie delay; Circana data crucial

Google's announcement to delay the removal of third-party cookies has come as a relief to creative and media agencies. Nonetheless, Circana, a notable advisor on consumer complexity, underscores the necessity for agencies to harness more refined and accurate data to effectively target advertisements and optimise budgets.

With consumers now having the ability to opt-out of third-party tracking, the challenge for creative and media agencies is to source high-quality, unfiltered data from reliable origins. Circana has addressed this need through a solution named Audiences, which delivers detailed insights into consumer buying behaviours. This solution is now being extended to the Australian market.

Audiences utilises extensive data, accumulated over 40 years and from over 7,000 brands globally. It provides comprehensive information about household consumer purchasing patterns, enhancing agencies' advertising efforts by identifying shoppers with high purchase probabilities. Barry Collins, Media and Analytics Director at Circana, explained the significance, “Audiences provides agencies with reliable insights that go well beyond traditional media targeting, adding an additional layer of purchase-based data to optimise campaigns and ensure the greatest return on investment. Accessing purchase-based data is one of the most effective ways for agencies to optimise campaigns as it provides confidence when targeting as you know that audience has a propensity to buy.”

Google's change in plans regarding third-party cookies has kept agencies on their toes, prompting them to seek dependable data solutions. Collins commented on the situation, “Whilst Google’s empowerment of consumers with a one-time choice to opt-in or -out of cookies is a win for the consumer, it poses challenges for creative and media agencies, including reduced data access, limited segmentation ability, and overall unreliability.”

The importance of reliable, real-time data has never been more critical. Collins emphasised the essential nature of such data for the success of media buying: “In order to have greater success in media buying, agencies need access to real-time data that has integrity and is gathered from a range of accurate sources.” This capability becomes increasingly significant as market demands shift, the media landscape evolves, and data integrity concerns rise within the industry.

Marketers and agencies are under immense pressure from various fronts, including fluctuating market demands, a dynamic media landscape, and cost of living increases, all of which compound the unreliability of traditional data sources. Collins pointed out the relief that quality data can bring, saying, “With access to the highest quality data that addresses the impact of third-party cookie depreciation and reduces device signals impacting the ability to target consumers based on profile and behaviour, marketers and agencies can have confidence in the future success of their campaigns.”

Collins' insights highlight the ongoing challenges and the crucial role that innovative data solutions like Audiences play in ensuring that creative and media agencies can continue to effectively reach and engage with their target audiences. The landscape for digital marketing is undoubtedly shifting, but with the right tools and data, agencies can navigate these changes successfully.