You have already driven users to your website. They have expressed interest in your products. You paid to get them there. And then they leave…
Now you have to try and get them back through retargeting, SEM, or your regular marketing efforts. These tactics all add significant cost to your customer acquisition bottom line. Worse yet, you know less about these users than your marketing channel partners. Google, Meta, The Trade Desk, etc… all know more about your active prospects than you do. This doesn’t make any sense but without 3rd party cookies, they will lose access to all of the activity that occurs on your website and this can be to your advantage.
How? You ask. Because now you can have access to up to 400 data points on every website visitor, including their email address along with all of their behavioral data from their visits to your website. With this data, you can learn more about your users than you ever imagined, if you know how. This data will allow you to segment everyone based on every data point and decide which ones you should spend more money on trying to acquire. And then target them with the right messaging, allowing you to build relationship beyond just the transaction. This will lead to a higher lifetime value for each customer and lower your CAC because you won’t be wasting money targeting the wrong people with the wrong message, at the wrong time. You website conversion rates will increase and your overall marketing effectiveness will increase dramatically. This shouldn’t be too hard considering what the average ecommerce website converts at, 2%+/-.
Now that I have your attention, let me explain a bit more about how this works and how you can have access to such tools.
A company such as Krateo can identify the majority of your website visitors without a 3rd party cookie. There aren’t any browser or device limitations. The data they can provide back to a brand consists of email, phone number, age range, geolocation, gender, income, device type, browser, etc… but these are the most relevant of the 400 possible data points. They can push this data to your CRM, CDP, ESP, and/or marketing platforms. Assuming that you get all of this data from the 2% of website converters, now you can multiply this times at least 25.
That’s 25x highly relevant emails you can send to shoppers in market for something you sell. Based on their behavior, you can send them an educational message or a transaction message. You can send different types of people different messages. You can combine the very inexpensive email tactic with display and video across your marketing platforms on a true 1:1 basis. Your response rates and conversion rates will shoot up if done correctly.
As users start to come back, shop around some more, and transact, that data can be used to build behavioral models on top of your existing datasets to uncover opportunities you haven’t ever had before. For one, when working with walled gardens and 3rd party vendors, you don’t get this type of data. Second, the data gleaned isn’t anything that can be seen by the human eye, at least not as quickly as AI.
By feeding all of this data back into your CRM or CDP, you will be giving yourself the ability to truly start building personal relationships with shoppers beyond just what they bought. This is a classic, you don’t know what you don’t know. The right data and the right AI will help grow your business. Even if you only increased conversions by 50%, you would be golden. But imagine 100% or 500%! This isn’t impossible with the right data and the right execution.
At Cogent we are laser focused on how marketers will thrive in a world without 3rd party cookies. We welcome any conversation a brand or technology company wants to have so please reach out to us and join our conversation.