Sean Patrick Rossi

I’m excited about what the future of retail media means for our media tech clients but also for marketing leaders in general. BCG does a great job outlining why CMOs will want to increase retail media spend—and how RMNs need to step up their game to help them justify greater investment. If we are to believe analyst projections of $100 billion in U.S. retail media spend over the next 2-3 years, it seems many of the items on BCG’s RMN “to-do” list need to happen, especially: - Offering a more seamless customer experience across online and in-store to boost performance across the full consumer journey - Providing more and more data and actionable reports to enhance transparency, insight, targeting, and personalization - Deepening relationships to deliver increasingly tailored media solutions that are unique to each advertiser and its consumers - Achieving a level of sophistication that matches—or at least approaches—the performance, scale, and precision of leading digital ad platforms like Google and Meta (e.g., as Amazon has done) https://lnkd.in/gKJ53T-x

13

It was a privilege to participate in this updated study by Prophet examining how leading marketers balance their brand (long-term) and demand (short-term) objectives. Key findings included that there is little difference in the allocation of spending and the organizations that succeed are more likely to have an integrated go-to market approach. You can download the report in the link below or reach out to the report's lead author Kate L. Price.

8

1 Comment

Consumer behavior has never been more fragmented, and ROAS just doesn't work as a way to measure it. How should brands navigate that, especially mid-sized brands with limited budgets? I was lucky to get to share my thoughts at the Encore Leadership Conference by Encore Consumer Capital. A big thank you to Robert Brown for inviting me to lead this conversation. Digital marketing attribution, always a flawed methodology, has suffered a major blow since iOS 14. Up to 85% of U.S. iPhone users disabled ad tracking, according to one source, and Apple controls a majority of the U.S. mobile phone market. That means ROAS is much less accurate than it used to be. The solution is marketing mix modeling (MMM), which used to be too expensive and complex for private equity-backed brands. But Smoketown has partnered with an affordable, accurate and nimble firm called NoiseGrasp to bring those services to growth-stage companies. Here's an example of what we've learned: ➡️ For brands with a significant ecom and brick-and-mortar presence, there is a consistent halo effect, where marketing tactics focused on one channel (e.g., Amazon) also drive revenue on the other (e.g., Walmart). But that impact is hidden from ROAS measures and digital attribution. ➡️ All tactics have a point of diminishing returns and a minimum spending threshold, which ROAS misses. Overspending on the “best” tactics is common. Fragmentation amplifies the challenge. ➡️ Many brands have a tendency to overspend during their peak season when the spending is less necessary, and / or underspend during the “off-season” when the impact would be greater. ➡️ Growth brands often have no understanding of their base business (i.e., the portion of sales driven by the brand’s equity and loyalty), because it is impossible to measure without marketing mix modeling. Base weaknesses are often “covered up” by advertising or trade spend. Intrigued? DM me to learn more about whether MMM could be the right solution for your brand. #consumerbehavior #contentfragmentation #roas #digitalmarketing

15

3 Comments