Google recently updated their ads policy in hope that it will help both the suppliers and the consumers. Everything action correlates to consequences and as a company, we need to understand this so that we can use this to our advantage. Before that, we need to understand what the policy is about and how it would affect us. The new ads policy talks on how Google would no longer be collecting customer’s data - cookies, for the companies. The company needs to find ways of collecting the data by themselves instead of relying on Google.
The existence of measurement gaps due to various restrictions. How does this affect the company? The company cannot reach their target audience or any new potential customers.The company needs to enhance conversion to close the measurement gap and use the data to measure the conversion lift which would help in customising your campaign that increases the percentage of conversions. We can see this through Hyatt Hotel, where instead of talking about themselves, the company also included other destinations or interesting places and activities around. By doing this, they attract more customers into visiting them and increase the percentage of their conversion.
Next, is the usage of the first party data to engage the audiences. This helps the company to reach new audiences that checks off all the key demographics that the company is searching for. The company needs to turn first party data into cloud based data where an analyst can give an advanced analysis so that the company can spread out their campaign and personalise it for the customers. Take a look at the Tesco loyalty program where they give monthly promotions that increase their customer loyalty. Every minute, Tesco earns £141 000 (GBP) from their sales. By inviting people to register for the company’s loyalty program, the company would receive first party data while the customer can receive rewards or exclusive offers and benefits.
Google would not have the collection of first party data anymore. What does this mean for a company? We exchange the data by giving the customers the right value where their data is used to curate and customise content for them. Let’s take a look at H&M loyalty program, where they have a welcoming offer that gives 10 % off from a first purchase. So, in simpler terms, to gain access to the first party data, the company needs to offer something to the customer, i.e a voucher, promotion or even notifications. In return, this helps to expand the market of the company as customers would provide data as they get something in return.
It is safe to say that the new ads policy not only protects the customers and also can be used to the advantages of the company. Companies nowadays need to respect their customer’s privacy and choices while also customising and personalising the contents that the customers are interested in. Ads policy is to serve the customer or first party data but as a company, we need other ways to gain those first party data.