AMENIA, NY — In the emerging world of retail media networks, through which retailers are becoming advertising platforms, how does media planning change? Lisa Giacosa is aiming to move planning “upfront”.
“Rather than thinking about a consumer and a shopper, we see the human that is both of those things,” said Giacosa, Chief Investment Officer of Publicis Media’s Spark Foundry, in this video interview with Beet.TV contributor Rob Williams.
“We pride ourselves in understanding those retail channels, the retail media networks at the beginning of the process rather than bolting it on at the end.”
Retail Media’s Evolution
Many people associate retail media with only endemic brands, the consumer packaged goods (CPG) products that stores sell, but Giacosa thinks that is too narrow.
“I like to think about retail media as a mindset versus a particular narrow channel,” she said. Non-endemic brands can also use retail media, she said – for example, auto brands could use supermarket visits to target car buyers.
“There are many different ways to think about the retail media networks above and beyond it just being a transactional pure play value,” Giacosa added.
Re-modelling MMM
Marketing mix modeling (MMM), which uses regression analysis to understand how media connects to sales, is experiencing a “resurgence” – but, nevertheless, it needs to adapt.
“The reality with MMM is that we need to make it go faster,” Giacosa said. “We need to evolve that model to ensure that it includes other brand metrics as well as things like consumer price index or factors like weather or Covid.”
MMM must also factor in franchisee models, customer experience and must work on both national and local levels, Giacosa believes.
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