How to spot voids and protect ...
November 8, 2021
The new partnership between Crisp and Keen Decision Systems helps CPG marketers understand the impact of full-funnel marketing: what’s working, what’s not, and how to optimize the next marketing dollar.
In today’s marketing environment, there are more ways than ever to reach consumers – and measuring the impact of marketing across retailers and ecommerce platforms is more challenging than ever. With so many options comes the need to know if you’re using your media resources wisely at the speed marketers need to make decisions. That’s why Crisp has partnered with Keen to help CPGs measure, plan, optimize, and forecast their omnichannel media investments.
Len Ostroff, EVP of Sales and Partnerships at Crisp, joined Keen founder and CEO Greg Dolan to discuss how the integration brings valuable tools to the modern marketer’s toolbox.
Retail marketing: More choices, more problems
As Dolan points out, there are thousands of marketing decisions that have to be made every week, or even every day, to allocate marketing resources.
Of course, today’s CPG marketers also have to justify every dollar they’re spending – and that’s where the fragmentation leads to even greater challenges. CPGs need to collect data from disparate channels, make sense of all that data, and ultimately try to determine the ROI of media spend.
On top of that, cookie deprecation means the industry must transition away from one-to-one targeting toward geo-based or cohort-based targeting – which makes connecting digital marketing to sales all the more complicated.
Adding retail data to the marketing mix
An informed retail marketing strategy requires retail data to measure the impact of campaigns across retail media networks and the open web online and in-store.
As Ostroff explains, retailers share a wealth of data with their suppliers, but there’s no standard format for how that data is shared from Target to Amazon. “If you are a multi-retailer CPG, making sense of retail data for supply chain management, demand planning, assortment planning, media and marketing…. it becomes nearly impossible,” he says.
That’s where Crisp comes in: to make retail data accessible and usable across more points of sale, helping teams across the organization make daily decisions.
For marketing teams, that means the ability to quantify each of those dollars and the impact it’s having on the business. That’s what Keen’s decision-making system enables – taking in a range of inputs and turning them into actionable insights to inform future spending decisions.
Crisp and Keen give brands the full picture
Together, Crisp and Keen can combine daily, store-level data from retailers with marketing mix modeling to guide future-focused decisions in real time.
For Keen, it’s not just about tying a campaign at a given retailer to sales at that same retailer, but understanding the interconnectivity between channels. “Finally, CPG organizations are starting to structure around omnichannel, which is helping them to look across all the different channels and the portfolio effects of a brand’s media investment,” Dolan explains.
While the analysis may be complex, the result is simple: brands can understand what’s working, what’s not, and where to spend that next dollar for maximum results.
To learn more about how Crisp and Keen can help your media strategy, contact us today. For more industry news and best practices, subscribe to the blog.
