Julie Crabb’s Post

What is Incrementality? The MRC defines incrementality as a measure of the true value created by any business strategy, determined by isolating and measuring related results independent of other potential business factors. 📌 Incrementality helps companies understand if their #media investment had a tangible, additional impact on their brand or product within a retailer and if their investment was worth it. “Incrementality in some ways helps brands get a fuller picture of their #marketing profile at a macro level. Then, it is easier to start to test kind of holistically if I remove spend here increased spend here, what happens and what’s the effect post campaign on that retail segment.” Brendan Grove, Co-Founder and Chief Technology Officer at Prizeout 📌 While incrementality can provide a measure of the true value created by an ad campaign, limitations include difficulties in applying it to offline contexts and the lack of a universal framework for measuring incrementality “Marketers and CFOs want to compare these things apples to apples, and that’s not possible. Most of the incrementality that we talk about is what’s called channel silo incrementality. And that means what’s the incrementality of buying an ad on one particular channel, versus not buying an ad on that channel.” Jason Goldberg, Chief Commerce Strategy Officer at Publicis 📌 Despite these limitations, the importance of incrementality is growing. It is seen as a way for platforms and #retailmedia networks to stand out and help brands and retailers gauge the success of their campaigns, focusing on gaining market share from those incremental customers that were influenced by the ad. “Incrementality tells you not only did you make a sale, but how much of that total sale amount came as a result of the retail media network #advertising. We can prove something like a customer was spending $10 a month on a product before the marketing campaign and then moved up to $12 a month after it.” - Evan Hovorka, VP Product & Innovation at Albertsons Companies https://lnkd.in/eWwUMiZU

Why do we need standardization in retail media and what does it mean? 📌 Brands and retailers both recognize the value of retail media networks that offer #data collaboration however lack of standardization on the #measurement, targeting and activation of retail media can create barriers 📌 A retail website isn’t the most effective strategy; a unified #retailmedia network has the power to follow the full shopper journey and enables retailers to develop a true #advertising business across on-site, offsite and instore. 📌 Data collaboration technologies such as #datacleanrooms empower retailers to manage, organize and enrich their #firstpartydata to make it more valuable to the brands and retailers want to be able to extend their targeted reach safely off-site. 📌 Brands want an easy-to-use retail media network with scale, transparency, and consistency and retailers want to provide it. Download CitrusAd and Epsilon’s “The state of retail media in 2023: Global survey of brands' and retailers' thoughts and feelings” below: https://lnkd.in/eC29Dez8

Great to meet Julie Crabb from Bausch + Lomb, a big fan of the podcast and hang with our great friend Ajay Sharma from Bayer! #shoptalk2023

Love working with this talented team every day!! Thanks for all you do to drive eCommerce at Bausch + Lomb Robert Harclerode, Justin Brown, Sarah Seifert, Julie Crabb and Darin Dingeldein

NEW PRODUCTS 🚨 Bausch + Lomb has launched two supplements for dogs, both focused on eye health. The new products are part of the company's new Project Watson line. “Building on our eye care expertise and history in surgical solutions for veterinarians, we created Project Watson to help address the unmet health care needs of dogs,” said Joe Gordon, president of global consumer at Bausch + Lomb’s Surgical and Vision Care division. Full details: http://ow.ly/SOaY50Lm7NL #petfood