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Key Takeaways from BIMA’s ‘Future of Data and Targeting’ Event

September 27, 2024 Greater Boston Chamber of Commerce

On September 24, BIMA, the Boston Interactive Media Association, hosted a dynamic panel event that explored the rapidly evolving landscape of data privacy, targeting, and measurement.  

The panel featured industry leaders Drew Stein, Founder & CEO of Audigent; Erin Mullaney, Media Director at Connelly Partners; Eva Morse, VP, Platform Media, at Hill Holliday; and moderator Rob Auger, EVP, Media, at Digitas North America. 

As third-party cookies become a thing of the past and state-specific privacy laws rise, below are some key takeaways from our expert panelists to keep in mind as you navigate the changing landscape: 

Speakers from the BIMA’s 'Cookies, Data, and Google – The Future of Data and Targeting' Event

1. Embracing Contextual and Predictive Targeting: 

The panel highlighted the growing importance of contextual and predictive data as we move away from deterministic targeting. Drew Stein noted that innovative technologies are outperforming traditional 1:1 marketing, paving the way for a future that blends deterministic and probabilistic approaches: “The healthiest future is one where we’re mixing methodologies,” he emphasized. 

2. Navigating Google’s Privacy Sandbox: 

When asked about whether they were testing Google’s Privacy Sandbox solutions and their viability, there was a consensus that the Privacy Sandbox, still in its early stages, faces significant challenges. Erin Mullaney pointed out its limited scale and the need for more industry collaboration, while Drew Stein criticized it as both broken and inaccessible to smaller businesses, urging Google to consider feedback from those testing it. Rob Auger noted that “in order for it to be a viable, broadly adopted solution, we need the other tech partners to get on board. [It’s a] little bit of a wait and see.” 

3. Adapting to New Privacy Laws: 

With over 20 states enacting data privacy laws, staying compliant is more crucial than ever. Eva Morse stressed the importance of keeping teams informed about evolving regulations to maintain compliance and build consumer trust. Drew Stein described the upside of these changes and how “we’re moving towards an industry where privacy will be championed in ways we’ve never seen.” 

4. Balancing Personalization and Privacy: 

As consumers become savvier about data usage, brands must find the sweet spot between relevance and privacy. Eva Morse cautioned against overly personalized messaging (think relevant, not intrusive), while Erin Mullaney emphasized the value of first-party data and partnerships with publishers to build authentic value exchanges.  

5. The Future of Measurement: 

As traditional tracking methods evolve, brands are exploring new ways to measure success. Mixed methodologies, MMM (Marketing Mix Modeling), and advanced AI tools are leading the charge in filling the gaps left by the decline of third-party cookies. Incrementality testing and unified dashboards are becoming essential tools in the new measurement landscape. 

6. Call for Industry Innovation: 

The panelists agreed that the future of data-driven marketing lies in privacy-centric innovation. Drew Stein encouraged embracing privacy laws as an opportunity to rebuild trust and put the consumer at the center of the value chain, stating, “If we spend on places and methodology that protect consumer privacy, we’re protecting the free internet.” By championing consumer privacy, the industry can safeguard both business and the integrity of the open web.  

Speakers from the BIMA’s 'Cookies, Data, and Google – The Future of Data and Targeting' Event

This conversation underscored the need for the marketing industry to rethink its approach to data, embrace innovation, and prioritize consumer privacy. 

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