For advertisers, 2020 was all about identity. This year will continue along the same path. It’s time for marketers to prepare as we move towards a new era of data and privacy.
It’s important for the industry to come together to build a better solution for identity on the open internet. The value exchange of the internet has not been well understood or managed. The value exchange that exists between relevant advertising and free content must be communicated effectively. This identity crisis represents a significant opportunity to create a better ecosystem for all.
One of Bench’s biggest technology partners, The Trade Desk, is at the forefront of tackling the big bets of the advertising industry head on.
Among its top priorities for 2021 is its evolving solution for the deprecation of the cookie.
‘We believe the most important part is preserving the free flow of information and media that the internet provides in exchange for relevant advertising,’ says Lachlan McDivitt, Senior Director, Trading – ANZ at The Trade Desk.
Enter Unified ID 2.0. Supported by The Trade Desk and other industry leaders, this open-source ID framework is secure with email address identifiers to replace the cookie.
It represents a positive upgrade as it’s hashed and encrypted to protect consumer privacy and can function across web, mobile app, and CTV environments. It provides transparency for consumers with a new common language, opt-out and a centralised space to view and manage preferences.
‘Unified ID 2.0 preserves the value exchange that enables the free and open exchange of ideas across the internet,’ says McDivitt. ‘Namely, that consumers gain free access to premium content in exchange for receiving targeted, relevant advertising.’
This open solution aims to support a better internet for consumers, advertisers and publishers. It is interoperable across the advertising ecosystem with access to leading publishers for targeting and measurement, and accuracy and scale across platforms.
‘Unified ID 2.0 delivers a new and better approach to update, upgrade and improve upon third-party cookies, giving consumers control and transparency over their data,’ says McDivitt. ‘As cookies begin to go away, Unified ID 2.0 focuses on openness and interoperability, keeping brands in control of their data and technology. Brands will have the opportunity to engage in more meaningful conversations with their customers by leveraging their existing relationships directly with the customer.’
So, what are the next steps?
‘We’re currently in discussions with local publishers and brands to expand our testing outside of the U.S.,’ says McDivitt. ‘We anticipate offering scaled beta opportunities in Q1. More global partners will be announced in the next few weeks. While The Trade Desk is building the initial code, Unified ID 2.0 will be governed independently to preserve neutrality.’
Beyond the Unified ID 2.0 solution, The Trade Desk is also navigating a cookieless future through AI and extrapolation for audience segmentation where IDs are unavailable, and engaging across the industry for collaboration, for example, with Chrome’s Privacy Sandbox initiative.
Ultimately, The Trade Desk aims to work towards a more positive ecosystem for consumer privacy and transparency.
Stay tuned for more insights on identity solutions as the conversation continues, and get in touch to learn more about our partnership with The Trade Desk.