The future of media monetisation and digital advertising is “first-party,” as it will be driven by companies’ own assets, rather than an industry-wide bucket of commoditised ones. First-party data is, and will increasingly be, a key pillar.
For the very first time in more than a decade, media owners have an opportunity to turn their businesses and revenues around. The entire industry is dealing with waves of change brought by new privacy regulations and technology changes, including Google’s plan to sunset third-party cookies in Chrome and Apple’s tracking and privacy restrictions, including Intelligent Tracking Prevention (ITP) in Safari and App Tracking Transparency (ATT) in its operating systems.
Media owners must adapt and rethink their overall data strategies. A complete review of how a media brand should engage with its audience in a digital environment is needed, as today’s data challenges cannot be approached in silos for privacy, consent, data collection, identity resolution, addressability, registration, login, and the use of email.
Consumers’ knowledge of personal data and how it is used online is increasing exponentially. By transparently embracing a path to audience education that is supported by a wise combination of quality content, communication, and technology, media owners can rebuild that long-lost trust and differentiate themselves.
It means building a wealth of data assets and increased engagement that benefits all the different channels of media monetisation: advertising, personalisation, marketing, member / subscriber acquisition, and retention.
Informed consent, easier registration paths, higher percentages of logged-in users, more engaged audiences, and customers who proactively provide additional data are among the goals that can be achieved by media owners that embrace their audiences with solid, long-term strategies and are motivated by a genuine, value-exchange-based approach.
I have extensively written about it and called this the Funnel of Trust.