The marketing industry has completely transformed in the past decade. Most attribute this to the rise of digital marketing which has grown to encompass 72% of total spending of as of 2020. Yet despite the huge reliance this has placed on third-party tracking, many companies seem unprepared for the next upcoming tidal shift.
As explored in this Consultancy.uk article: big tech platforms are moving preemptively to anonymize their users. The increasing public pressure to legislate on third party data collection has forced their hand.
Worryingly, a recent YouGov study of UK companies highlights the reluctance of most to begin research for a replacement of these lost information flows. Time is critical. With Google scheduled to remove tracking cookies by 2023, it is essential that businesses begin developing alternate strategies for maintaining relationships with consumers now.
This has the capacity to change the recruitment landscape too. Recruiters should begin planning how they will compensate for the diminishing utility of tracking systems. But it’s not all doom and gloom! Recruitment firms have the capacity to fill this gap – becoming an ever more valuable tool for job searches. What is lost in dataflows will most likely create a more active pool of talent, who we can help source the right positions for.
- by John Barker