Latest / Retail Media Breakfast Club / Underrated Retail Media Metrics That Fly Under The Radar [Panel Episode]
Transcript
- What's an underrated retail media metric? === [00:00:00] Kiri Masters: ROAS impressions, clicks. We all know these metrics by heart, but are we actually tracking the numbers that tell us where our business is headed? In today's episode, I asked four brand [00:00:15] side retail media leaders. What's the metric that you're obsessed with that everyone else seems to ignore? [00:00:22] You'll hear why one leader ditched vanity metrics for incrementality and household penetration. The real drivers of long-term [00:00:30] brand growth. Another shares and often ignored email metric that reveals exactly what's resonating with customers. And there's a surprising case for branded search volume. [00:00:41] As your crystal ball for future performance, [00:00:44] If [00:00:45] you're tired of chasing the same old KPIs that everyone else is watching, this episode will give you some fresh perspective. Let's go. [00:00:52] [00:00:54] Kiri: Now let's hear from Kelsey Knight, chief Commercial Officer at the Toy Brand [00:01:00] Slumberkins. [00:01:00] Kelsey Knight: Yeah. Two metrics that came to mind for me were in email marketing and influencer marketing. Those are two channels that we're really focused on right now. In email, there are so many important metrics to look at with open and click through and deliverability and all of that. But where we're really focusing is on [00:01:15] revenue per recipient, which is often an overlooked metrics. [00:01:18] So it helps us gauge not only what did, what revenue did ascend drive, which obviously is the most important, but also how much juice are we getting for the squeeze when we put. Larger promotions or campaigns [00:01:30] together and helps us really gauge what's resonating with our audience. So revenue per recipient is one that we watch pretty closely in email. [00:01:38] And then on the influencer side of things, there's a lot of metrics to look at from engagement and relatability and buying [00:01:45] sentiment and consumer sentiment and the comments and things like that. But we're really focused right now on Post Per Influencer, because while seeding and gifting at a large scale is definitely one goal. [00:01:56] The larger goal is to turn those gifted influencers into [00:02:00] true brand ambassadors who resonate with the product and want to share it organically. And as they do that, they can tag us and that will show us that they're engaged with not just the brand, not just the product, but the actual mission behind it. [00:02:13] And the value that it's bringing in their [00:02:15] homes. So Post Per Influencer is really signaling to us a high match between brand and influencer, and then allowing us to scale that relationship even further and make it even more one-to-one and do larger partnerships with them down the line as well. So [00:02:30] really helping us understand if our larger gifting strategy is paying off. [00:02:33] [00:02:35] Kiri Masters: Now let's hear from Jody Malick, senior Director, e-Commerce at Belkin. [00:02:39] Jyoti Malik: One retail media metric that I admit I did not use to think [00:02:45] about as much before, but now I love thinking and talking about it, is branded search. And one can look at volume and share for that. [00:02:54] And as you know, all metric relevancy is really context dependent. So when you are in a highly competitive, [00:03:00] commoditized category and trying to claim market share by outpacing, uh, category and competition growth, then branded search, I believe is a leading, uh, great leading indicator for how much sustainable presence you're building for future versus [00:03:15] constantly having to be in a pay to play scenario. [00:03:18] So this is one metric that I am, I, I think is a really great metric for us tot track at the moment. [00:03:29] When your [00:03:30] time, budget and team are already maxed out. Keeping up with retailer platforms and media requirements can feel like a never ending labyrinth. That's why even the best brands bring in an execution partner. [00:03:44] [00:03:45] Acosta Group makes retail media execution simpler. They stay ahead of every platform. Update tech shift. And media spec, so your campaigns actually show up and perform without draining your team. [00:03:59] Let Acosta [00:04:00] group handle the chaos behind the scenes so you can keep building the brand. Check out Acosta Group and tell them Retail Media Breakfast Club sent you. That's A-C-O-S-T group. [00:04:14] Kiri: [00:04:15] Now let's hear from Chris Lowry, the brand director at our Home, which is the parent of CPG brands, including pop secret, good health and pop chips. [00:04:25] Chris Lowrey: The one that I feel like I am, uh, you know, more focused on right [00:04:30] now in particular is just new to brand. [00:04:32] And it's because, you know, a lot of the brands that I work with are still in that like high growth phase. And you know, they built a strong base and they're now scaling quickly. Um, but, but new to brand is particularly important just [00:04:45] as they kind of enter that next phase. You know, it's like ROAS and top line revenue are, are super important, but I mean, as you know, it's like if you're re just recycling the same buyers, you're not really growing. [00:04:55] And so, as I think about these brands that are scaling so quickly, um, new to brand just gives me a [00:05:00] much clearer picture of whether spend is actually expanding the brand. And it honestly changes how you approach everything. Right? It's like keywords, creative budget allocation. Um, so, so again, that's like one that I've just been more focused on lately for the types of brands [00:05:15] I've been working on. [00:05:16] Um, and I think, you know, just like going back and thinking to it, it's like, to me that's the best indicator that we're actually building towards long-term growth versus just, you know, top line sales and roas. [00:05:26] [00:05:28] Kiri: Now let's hear from Neha [00:05:30] Malik, head of Connected Commerce at Mizkan America, the parent company of CPG brands, including Ragu, Bati, and Holland House. [00:05:40] Neha Malik: A lot of times we have to just remind ourselves over time that it's not just about the impressions [00:05:45] or, um, or clicks and roas. I mean, obviously incrementality is huge. Uh, but I know as a brand we're looking, um, a lot about building the long term brand, , saliency and, uh, and about the brand as opposed to [00:06:00] just a very short term. [00:06:01] So we're investing in our brand versus just, um, short term. Through impressions, et cetera. Um, the other big one for us really is new to brand, um, because of, or new to category for that matter, is how [00:06:15] do we then get into newer generation, um, and ensure that our products available wherever the consumer is in their journey [00:06:22] Kiri Masters: on the point of brand salience in the long term. [00:06:25] What, I mean, how, how do you measure that? Um. [00:06:28] Neha Malik: Um, I mean, obviously the household [00:06:30] penetration is a big one for us, and, um, it, you know, you over time you can evaluate whether, uh, we have different measurement tools that we look at to ensure that our brand is at a long term win or a short term win. There's a place for both, of course, but [00:06:45] um, it's different measurements and how we evaluate the business. [00:06:48]