On Thursday the Australian Association of National Advertisers (AANA) and Omnicom Media Group (OMG) held a Marketing Masterclass focusing on the implications of privacy changes and signal loss for the future of advertising and marketing in Australia.

The event featured a line-up of industry experts, including OMG COO - Digital, Philip Pollock, Google Head of Privacy at Chrome & Web Partnerships Madeline Oldfield, and Meta Business Product Marketing Manager Gabbi Mitchell. The panel was moderated by Hearts and Science CEO Jane Stanley and also included Google Managing Director, Media Sales Specialists AU/NZ, Rhys Williams, Annalect CEO, Darren Stein, Meta Associate General Counsel, Privacy, Richard Sawyer.

The Masterclass provided insights into navigating the evolving privacy and data landscape and offered practical advice for marketers preparing for a privacy-centric future. Three key takeaways from the event were the arrival of privacy and tech changes, the need to act now and review privacy practices, and the importance of maximising the use of first-party data in a privacy-centric way.

According to AANA CEO, Josh Faulks, "Big changes in privacy and data are already well underway and more is coming fast that will have a material impact on just about every business in Australia. The key question for advertisers and marketers is: are you ready for those changes?"

OMG's Pollock said: "The way advertisers plan, buy, and measure media has transformed and will continue to evolve. Businesses need to adapt and communicate changes internally, from marketing departments to finance and legal."

"My hope for 2024 is that we use this year to embrace new building blocks for a better internet - one that keeps people's activity private and supports free experiences for everyone," said Oldfield.

"By building a strong measurement foundation, privacy and growth do not need to be at odds with each other," said Williams. "By prioritising high-quality data, leveraging durable measurement solutions, and embracing AI - you can increase your confidence and put you on the path to better business outcomes."

"Embracing the power of first-party data and harnessing AI and modelling capabilities are key strategies for advertisers navigating the changing digital landscape," said Mitchell.