Are digital marketers really prepared for a post-cookie world? According to Lotame’s latest report, fielded by Cint, The State of Data Collaboration: A Global Perspective, almost all (98%) are still struggling to fully harness their data, even as third-party cookies continue to vanish. This staggering percentage highlights a clear gap between the industry’s current state and its desired level of data readiness.
So, what’s the path forward? This report dives deep into how 1,200 marketers and agencies across six global markets — Australia, Brazil, Mexico, Singapore, the UK, and North America — are pivoting their strategies to adapt. Here’s a peek at the challenges, trends, and strategic shifts that could make or break marketing success in 2024 and beyond.
First-party data: The urgency to activate
The pressure to leverage first-party data has never been more intense. With nearly 70% of respondents stating that collecting and activating first-party data is an urgent priority, it’s clear that marketers know where the solution lies. Yet, while most understand the importance of first-party data, executing on it is another story. Challenges range from technical roadblocks to a lack of in-house expertise, particularly in emerging markets like LATAM and APAC, where brands are struggling to build and activate their own data assets.
Open web vs. walled gardens: The battle for budget
It’s a battle that’s splitting the industry in two. On one side, walled gardens like Google and Facebook continue to hold sway over advertising dollars. But the report shows a shift brewing. Even though investments in these platforms remain steady, marketers are becoming increasingly wary of the lack of transparency and control that come with these ecosystems.
Data collaboration platforms: The new Swiss Army knife
Data collaboration platforms have emerged as a powerful solution to tackle the fragmentation in today’s data landscape. These platforms, which we call “marketing’s Swiss Army knife,” provide a versatile set of tools to integrate data, break down silos, and unlock new use cases. Currently, two-thirds of respondents are already leveraging these platforms, citing unified insights and better targeting as the top benefits.
Download the full report for in-depth insights
This article just skims the surface of the insights revealed in The State of Data Collaboration: A Global Perspective. Curious about the evolving role of clean rooms and their impact on data strategies? Want to know which technologies marketers are prioritizing in 2024, and which are on the chopping block? Or perhaps you want to see how regional differences shape data usage trends?
Download the full report for a deeper dive into the findings and what they mean for your business.
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