Google’s Restriction of Third-Party Data Will Change Everything
Google’s latest update details how third-party cookies are completely going away in 2024. Where Google Chrome has restricted third-party cookies for 1% of users as of January 4th, 2024, it intends to restrict up to 100% by Q3 2024.
Why is this important?
This directly impacts the digital and growth marketing landscape especially for consumer companies playing in retail and DTC. These changes have made tracking users close to impossible, creating a rise in customer acquisition costs (CAC), poor performing ads (poor ROAS), and even lower margins on already tight unit economics for brands.
But this challenge isn’t entirely new, many consumer facing companies didn’t adapt in 2023 and are consistently failing to hit their growth targets.
How do we solve this in 2024?
You guessed it, Artificial Intelligence. In 2023, the hype machine showed AI much love, but in 2024 consumer companies of all sizes and cross-industries will be set to execute and adopt AI technology in their companies. And the fact that cookies are completely going away on Google Chrome will only help accelerate this adoption.
AI and machine learning will play a significant role in how brands grow profitably with their “first-party” data:
Collecting incremental emails & customers: Using new technologies to enhance and better identify invisible visitors on your website that Shopify, Klaviyo, or your own stack can’t and converting them into subscribers and finally, customers.
Predictive audiences: Imagine having an AI engine hooked up into your email & SMS marketing, or paid ads, telling your Klaviyo, Attentive, or Meta which of your exact customers is most likely to buy what product and at what time.
Know your customers / personas: AI and machine learning assist marketers in enhancing data collection, analyzing information, and gaining deeper insights into audience behavior and interests. This can directly help creative teams!
Whether you’re making $1M in annual sales or $500M, having a strategy with AI and first-party data at the center will be crucial. CEOs, CMOs, Growth Marketers, Management Consultants, all the way to Venture Capitalists will need to rapidly educate themselves and adopt new technologies to have a chance at competing in commerce.
Ground was created foreseeing such hindrances to profitable growth for brands at all stages. The silver lining is…it’s possible. With Ground will you be able to optimize for sales, better cater to your customer and stay ahead of the curve. Every single one of our brands has made incremental revenue. We are democratizing predictive AI starting with commerce. Click here to learn how Ground can help your business grow.
