During a recent webinar, John Nardone, president, Mediaocean; Sean Fuller, founder and CEO, iSpot.tv; Christine Hoffman, senior director, integrated consumer experience; J.M. Smucker Co.; Paul Gelb, NA head of media activation & investment, Bayer; Ed See, partner, McKinsey & Company; and Janine Mandel, associate partner, McKinsey & Company, discussed how CPG marketers can optimize their media dollars.
Be a “measurement octopus”
Successful CPG marketers tailor discrete measurement approaches for each channel they’re targeting and then work from there to build a cross-channel view. Integrating measurement data across channels also enables better full-funnel planning and execution.
Avoid knee-jerk reactions
With hundreds of possible key performance indicators (KPIs) and an accelerating data metabolic rate, it’s easy to overcorrect and shift spend towards tactics designed to produce quick results. But measurement should always take place within the context of a long-term strategy, giving marketers ample time to test and iterate on campaigns.
Make the most of your data
While data gaps are nothing new for CPG marketers, an influx of cross-channel audience data may be contributing to integration challenges. Combining strong internal data capabilities with a robust brand strategy will help CPG marketers maximize their existing data.
Discover the secret sauce of RMNs
RMNs remain unproven channels, but they may be able to provide CPG marketers access to elusive first-party data. Although RMNs continue to evolve and prove their worth, marketers should still leverage them to gain valuable insights about consumers at key points in their buying journeys.
Think big and learn fast
Integrated measurement must be iterative to be effective. This requires CPG marketers to make a commitment to becoming learning organizations that invest in critical enablers, from talent to technical partners.