VIDEO: Adapt & Evolve in a Cookieless Future (Ekta Chopra) (2)
VIDEO: Adapt & Evolve in a Cookieless Future (Ekta Chopra)
Adapt & Evolve in a Cookieless Future: Expert Strategies on Using First-Party Data.
This is a summary of a presentation held by Ekta Chopra during the 1st ever EcomWorld Online Conference.
I will use some of the slides in this article, but there are many more that you can check out in the full PDF.
The slides in the pdf are using higher resolution!
>> DOWNLOAD ALL THE SLIDES HERE <<
Ekta is a Chief Digital Officer at E.L.F. Beauty, which is a brand selling beauty products online for 17 years already.
E.L.F. started by selling $1 makeup online and evolved into a popular brand that is making the best of beauty accessible to every eye, lip and face (that's their mission statement).
As many other successful eCom brands, E.L.F is strongly customer focused and Ekta really emphasizes this in her presentation.
An interesting takeaway here: E.L.F. didn’t define their value propositions themselves, they listened to their community and adapted.
Their customers wanted Vegan & Cruelty-free products, so they have them, for example.
By listening to their customers, ELF has been voted #2 GEN-Z favorite brand in 2020.
Takeaway: Whatever you are selling, listen to your customers in order to build a popular brand.
The privacy concerns and the nearing end of cookies are also a result of what customers want and as such, ELF accepts these and actually considers them good for their clients.
Cookie less future is coming, there is nothing to stop this now and you have to adapt.
It’s nothing new either, it all started around 2017 with the GDPR coming into effect and soon enough, more regulations and acts came into effect.
Changes are happening at multiple levels :
Devices - very upfront with what permissions you are approving when installing apps. 60-80% users will opt out from user level tracking.
Browsers - privacy first, that’s the new mantra for browser companies.
Regulations - GDPR, CCPA, CDPA… more to come.
People Change - Trust is extremely important, you need it in order to get approval to collect data. Honor their settings.
Interesting example: Ekta mentioned their Loyalty programs and how it helps them to get first party data even when the customers shop in a different store (for example a partner store).
Their loyalty program has a “scan bill, get points” feature. So basically, wherever you buy their products, they will still give you the reward points.
But, in order to do that, you need to register for the loyalty program and scan your bill.
This way, they know your personal info, what you bought and where, which is very valuable data that they can work with.
How to work in the cookieless future
Study the changes to find out how they are gonna affect you and what steps you need to take.
Collect first party data, directly from customers, be upfront about what you are collecting and explain why.
Use this data to create rich customer profiles.
Invest in measurement, you need to measure everything that it is possible to measure.
First party data will optimize media investment
The old tactic of casting a wide net and then retargeting based on lookalike models is likely coming to an end.
You need to focus on 1st party data at the brand and partner level.
What does this mean?
You need to make sure you get qualified leads in the first place, by focusing on building your brand and supporting your partners, if there are any.
Partners can be brick & mortar or online stores selling your products, or affiliates who are sending traffic to your online store.
These are basically pre-qualifying the customers for you, do invest in them.
Ekta emphasized the importance of influencer programs.
These people can help with brand awareness a lot and by doing so, they are bringing you customers who already know about your brand and what it represents.
Since retargeting is losing effectiveness, Ekta recommends to cut these budgets to some extent.
To sum it up, in a world where tracking loses ground, we need to shift our focus too.
Massive retargeting is not going to cut it anymore, we need to shift our budgets to the customer acquisition phase.
Do not try to target everyone with the hope of retargeting them later on, focus on who you acquire in the first place and try to get as much data from them as possible, even if you have to bribe them with some loyalty benefits.
>> DOWNLOAD ALL THE SLIDES HERE <<
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I've just posted the actual video replay of the presentation, you can see it at the very beginning of the opening post.
These videos have been provided by the iStack Conferences team as a special bonus to our members.
We will be posting MANY more in the coming days and weeks
Enjoy!
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