Mumbai: The 18th India Digital Summit, hosted by IAMAI, delved into the intricate world of advertising and the martech industry, amidst the evolving landscape of data privacy regulations. Held at the Jio Convention Centre in BKC on 27 February 2024, the event brought together industry leaders to discuss the paradigm shift towards first-party data utilisation in a cookieless environment.
Moderated by Vivek Malhotra from India Today Group, the panel comprised distinguished experts: Arnad Fraude from Nielsen, Shuvadip Banerjee representing ITC Ltd., Mohit Kumar of Havas Media Network India, and Shashank Srivastava from Maruti Suzuki India. Their insights shed light on navigating the challenges and opportunities presented by the changing digital ecosystem.
In recent years, concerns over data privacy and the impending demise of third-party cookies have prompted a reevaluation of digital marketing strategies. The focus has shifted towards harnessing first-party data, which is collected directly from consumers through interactions with owned digital platforms. This transition heralds a more personalised and ethical approach to targeting and measuring campaign effectiveness.
Fraude emphasised the importance of leveraging first-party data to gain deeper insights into consumer behavior while respecting their privacy. He highlighted the need for transparent data practices and emphasized the role of consent in data collection.
Banerjee shared insights from ITC Ltd.'s journey towards building a robust first-party data infrastructure. He stressed the significance of data quality over quantity and advocated for investing in data analytics capabilities to derive actionable insights.
Joshi said the role of creativity and innovation in crafting narratives that resonate with consumers in a cookieless world. He also said the need for collaboration between creative and data teams to deliver personalized experiences at scale.
Srivastava provided perspectives from the automotive industry, highlighting the challenges of targeting niche audiences in a cookieless environment. He told that the importance of data partnerships and ecosystem integration in delivering seamless customer experiences across channels.
Overall, the session underscored the pivotal role of first-party data in driving effective digital marketing strategies amidst evolving privacy regulations. As the industry adapts to a cookieless future, organizations must prioritize transparency, consent, and data stewardship to build trust and deliver value to consumers.
