Are digital entrepreneurs actually ready for a post-cookie world? In accordance with Lotame’s newest report, fielded by Cint, The State of Data Collaboration: A Global Perspective, nearly all (98%) are nonetheless struggling to completely harness their knowledge, at the same time as third-party cookies proceed to fade. This staggering share highlights a transparent hole between the trade’s present state and its desired stage of knowledge readiness.
So, what’s the trail ahead? This report dives deep into how 1,200 entrepreneurs and businesses throughout six international markets — Australia, Brazil, Mexico, Singapore, the UK, and North America — are pivoting their methods to adapt. Right here’s a peek on the challenges, developments, and strategic shifts that might make or break advertising success in 2024 and past.
First-party knowledge: The urgency to activate
The stress to leverage first-party knowledge has by no means been extra intense. With almost 70% of respondents stating that gathering and activating first-party knowledge is an pressing precedence, it’s clear that entrepreneurs know the place the answer lies. But, whereas most perceive the significance of first-party knowledge, executing on it’s one other story. Challenges vary from technical roadblocks to an absence of in-house experience, notably in rising markets like LATAM and APAC, the place manufacturers are struggling to construct and activate their very own knowledge belongings.
Open net vs. walled gardens: The battle for finances
It’s a battle that’s splitting the trade in two. On one facet, walled gardens like Google and Fb proceed to carry sway over promoting {dollars}. However the report reveals a shift brewing. Regardless that investments in these platforms stay regular, entrepreneurs have gotten more and more cautious of the shortage of transparency and management that include these ecosystems.
Information collaboration platforms: The brand new Swiss Military knife
Information collaboration platforms have emerged as a robust answer to deal with the fragmentation in at the moment’s knowledge panorama. These platforms, which we name “advertising’s Swiss Military knife,” present a flexible set of instruments to combine knowledge, break down silos, and unlock new use instances. Presently, two-thirds of respondents are already leveraging these platforms, citing unified insights and higher focusing on as the highest advantages.
Obtain the total report for in-depth insights
This text simply skims the floor of the insights revealed in The State of Data Collaboration: A Global Perspective. Curious concerning the evolving position of fresh rooms and their impression on knowledge methods? Need to know which applied sciences entrepreneurs are prioritizing in 2024, and that are on the chopping block? Or maybe you wish to see how regional variations form knowledge utilization developments?
Download the full report for a deeper dive into the findings and what they mean for your business.
