People have grown increasingly wary of the ways in which their online behaviors are being tracked, bought and sold. With little to no insight into how their data is being used, consumers are frustrated with the experience of intrusive, irrelevant advertising and are demanding greater transparency from the government and industry.
Calls for privacy and control have put pressure on corporations to curtail user tracking, leading to browser deprecation of third-party cookies and Apple’s revised IDFA policy. In addition to European Union’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), private regulations pose new challenges to marketers with shortened timelines, lack of clarity and changing policies.
But let’s be clear - the demise of third-party cookies is far from apocalyptic for the marketing industry. In fact, this identity revolution is a necessary next step in maintaining thriving consumer relationships in an evolving digital landscape.
Despite concerns, consumers still voice a preference for relevant and personalized digital brand experiences. In a 2019 MAGNA IPG Media Lab and Verizon Media study, a majority of participants said they’re willing to voluntarily offer personal information in exchange for tangible benefits, such as free content or product coupons and discounts. The same study found that 86% of consumers see how the use of their data benefits their online shopping experience, stating that websites are more enjoyable and easier to navigate when they offer tailored experiences.
Crucial to this equation? Consumer trust. Consumers won't share data at the cost of personalization if they don't trust the partner. Conversely, if they trust the partner, they'll be open to sharing even if they can't explicitly state what personalization feature they’re getting in return.
Striking this balance is presenting a real challenge for marketers and publishers. In a recent study, 34% of North American data professionals said they expected to spend significant time managing data privacy compliance this year. Roughly the same amount, about one third in the same study, said the loss of third-party data would present significant functional and operational obstacles. 1
These shifting dynamics are forcing marketers and publishers to find alternative solutions that maintain quality user experiences and deliver consistent revenue, while honoring consumer privacy preferences.
As a large publisher with a robust pool of first-party data, Verizon Media is taking an integrated three-pronged approach to building sustainable identity solutions with consumer privacy and choice at the center.
As an end-to-end, full-stack technology partner, Verizon Media is well-positioned to help brands, advertisers and publishers find new paths to success in this changing marketplace by taking an integrated approach to sustainable identity, one that is centered on consumer privacy and choice, and focused on upholding total client confidence in our data compliance.
Verizon Media ConnectID is fueled by deterministic data from 200 billion consent-based direct and diverse digital touchpoints across our trusted brands including Yahoo, Engadget, AOL, and TechCrunch and other premium partners. It provides a comprehensive view of nearly 900 million monthly users from activity across Verizon Media’s premium content experiences, mobile apps, search and communications tools, with persistent, hashed data from opted-in users. The ID graph can reach omnichannel consumers wherever they spend their time -- mobile, connected TV, digital audio, digital-out-of-home, and more.
Verizon Media ConnectedID is a critical step in our mission to empower brands to grow quality connections with context. This solution is built by and for publishers, allowing our partners to continue to produce and monetize their world-class content that remains free to consumers thanks to the exchange of identity in place of currency.
At Verizon Media, we believe a sustainable identity future must begin and end with the consumer.