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With the news that google will completely put an end to the 3rd Party cookie, advertisers ability to target users based on their online behavior for example behavioral targeting would get limited.

This limitations will have a massive impact on the dependency that advertisers have on contextual targeting.

So what is the difference between contextual targeting and behavior targeting?

Contextual targeting ads are served to users based on the live content while behavioral targeting serves ads based on the users online behaviors.

Steve is married and has recently become a dad, since then he doesn't partake on his usual visits to the pub, but tonight is different, he has planned a fun night out with his colleagues. So Steve walks into the pub and orders his usual 'old fashioned' as he turns towards a colleague, he sees a huge scotch ad pasted on the wall. If the ad is for an exclusive scotch club in town, Steve is being contextually targeted. If the ad is for baby diapers, Steve is being contextually targeted.

So the the implications with the possibilities of the 3rd party cookie dying is that in the future it would be harder to serve Steve that diaper ad while at the pub.