As industry standards change and increasing regulatory scrutiny forces media publishers and advertisers to adapt, organizations are either expressing a lack of concern over the death of cookies or busy implementing tools to activate their data in a post-cookie world.
Many of the latter have adopted Snowflake, a leader in cross-cloud computing and one of the fastest-growing software companies. Snowflake aims to improve the efficacy of advertising by empowering organizations to collaborate with any data set across any cloud and essentially allows entire industries to share data and drive innovation.
During an Advertising New York panel about building a future-proof, privacy-first advertising strategy, Bill Stratton—Snowflake global head of media and advertising industry—shared why businesses are adopting Snowflake to securely share, protect, and activate their data to promote growth in a cookie-less climate; how data enrichment, identity, measurement, activation and analytics data partners connect in near-real time; and how leaders leverage the Media Data Cloud to future proof their data foundation, protect consumer data and drive advertising growth.
According to Snowflake chief executive officer Frank Slootman, privacy laws are preventing new players like Disney from enriching and weaponizing their data for advertising purposes and competing with Google, Facebook and world governments. Snowflake seeks to overcome such constraints and allow companies to enrich and share data by engaging its data cleanroom capabilities while maintaining compliance.
We’re in the golden age of content and consumers have more programming to choose from than ever before, offering new levels of personalization and relevancy. Advertisers are able to develop new approaches to measure marketing performance and reimagine their marketing strategies altogether.
However, the industry is in a unique position. Though the element of security and privacy is becoming stronger, there’s now a greater demand for data collaboration and transparency. Privacy legislation such as GDPR is on the rise yet advertisers and publishers are expected to leverage data matching and enable a single view of the consumer or measure media campaigns across multiple platforms.
Traditionally, privacy and data collaboration have opposed one another. Enter: Privacy Sandboxes, the industry’s initial approach to providing anonymity to user data while allowing advertisers to use behavioral targeting where only the tech platform governed the rules of how data operated. While a step in the right direction, this measure lacked the level of true, two-way transparency advertisers sought.
Snowflake has sought to provide any company with the technological means to essentially design their own Privacy Sandbox for any purpose—without having to store the data in a silo or be sent to several different platforms.
For marketers to get the most out of Snowflake’s offerings, they must invest in a future-proof data strategy to drive advertising growth while taking a proactive approach towards privacy. Further, Statton implored advertisers to recognize that future-proof data strategy mandates the capacity to maintain strict data governance while accessing all relevant data from a single source and sharing it with ecosystem partners.
Snowflake’s Media Data Cloud provides advertisers and media publishers the means to recognize and accomplish adaptive goals by allowing them to leverage Snowflake’s platform capabilities, tailored solutions and an increasing amount of data natively available. Through this, advertisers can plan campaigns, collaborate with partners and measure effectiveness in a governed and secure environment.
The Media Data Cloud also offers identity and enrichment services that enable businesses to execute without managing fragile, complex and expensive pipelines. In turn, those businesses can accelerate advertising growth, increase subscriber acquisition and retention and deliver differentiated advertising technology solutions.