Neutral Retail Media Measurement with Incremental's Dave Pollet and Skye Frontier
Oct 11, 2023
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The CPG Guys are joined by Dave Pollet, CEO, and Skye Frontier, Chief Growth Officer for Incremental. Topics include personal journeys to Incremental, understanding incremental impact of advertising, challenges in careers, incrementality in retail media measurement, importance of measurement tools in retail media.
Moving from measuring coincidence to causation in retail media is crucial for understanding the incremental impact of advertising and consumer decision-making.
Measuring incrementality is complex due to factors like fragmented data landscapes and the lack of interconnectivity between channels, highlighting the need for diverse measurement tools.
Deep dives
The Paradigm Shift from Coincidence to Causation in Measurement
The conversation explores the need to move from measuring coincidence to measuring causation in the field of retail media. This requires understanding the incremental impact of advertising and the factors that drive consumer decision-making. By implementing designed experiments and modeling, brands can assess incrementality and account for various factors that influence consumer behavior. The goal is to determine the sales that occur solely because of advertising, rather than coincidental correlations.
Challenges of Measuring Incrementality
Measuring incrementality is complex due to the multitude of factors that influence consumer decision-making. Traditional multi-touch attribution (MTA) methods struggle because they require a near-perfect view of the customer journey, which is difficult to achieve in a fragmented data landscape. Furthermore, MTA often fails to account for interconnectivity between different channels and media formats. As a result, relying solely on MTA can lead to suboptimal optimization and inaccurate measurement of incrementality.
The Importance of Leveraging the Right Measurement Tools
Choosing the appropriate measurement tools for each specific question or use case is crucial. Marketing mix modeling (MMM) provides a strong foundation for top-down resource allocation, while other techniques like lift tests and econometrics offer valuable insights for granular measurement. Incremental aims to provide automation, speed, and granularity in their measurement approach, allowing brands to understand what to execute rather than just focusing on overall attribution. This ensures actionable insights that drive effective resource allocation.
Key Trends and Capabilities Shaping Retail Media
The speakers highlight several trends and capabilities that will shape the future of retail media. These include the emergence of video formats and connected TV (CTV), which offer new opportunities for engagement. Standardization efforts led by organizations like the IAB are crucial for achieving transparency and consistency in data schemes and metrics. Additionally, the ability to apply a common audience lens across all media types and establish better data transparency between retailers and brands will drive growth and provide more accurate measurement solutions.
The CPG Guys are joined by Dave Pollet, CEO and Skye Frontier, Chief Growth Officer for Incremental which helps brands unlock incremental growth through cross-channel predictive analytics with the Science of More.
1) Can you tell us about your personal journeys to Incremental - how did you each decide this was the place to be at this specific time in the industry’s evolution? 2) Dave - you’ve been around this world for a while and I know you tend to think about retail media as a series of waves - what do you mean by that and where in this current wave do you think we are 3) Skye - So, when you say incrementality…what do you/we mean by that? It’s a term that gets kicked around but how should we think about it? Coincidence to causatio 4) Skye - simple question - why is incrementality so hard to measure? 5) Skye - are incremental sales always lower than ad-attributed sales? Why? 6) Dave - How does cross channel investment shape or impact incrementality and how do you measure and quantify that? 7) Skye - so often the pain point n this world comes from the walled garden nature of the available data in this space - each RMN has its own data and then the adjacent data sets like Meta and Google are also walled off to some degree. How do you think about solving for that at Incremental? 8) Our last question as always is to “Fast Forward” - what do each of you think is the single most important future trend shaping the retail media landscape?
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CPGGUYS LLC expressly disclaims any and all liability or responsibility for any direct, indirect, incidental, special, consequential or other damages arising out of any individual’s use of, reference to, or inability to use this podcast or the information we presented in this podcast.
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