In this recorded panel at AdWeek’s Commerce Week, Crisp speaks with OMG’s John Schorr about how access to live retail data will change the game in CPG advertising.
At AdWeek’s Commerce Week, Crisp’s SVP of Sales Stacy Bohrer and Business Line Leader Tony Miller took the stage with John Schorr, Managing Director of Commerce at OMG. The topic: how marketers can leverage real-time, store-level data to drive revolutionary results for brands.
The panel spoke about their recent partnership, which allows Omnicom to leverage a brand’s real-time supply chain and sales data through Crisp to target day-to-day media activation at the store level.
As Stacy points out, sales and merchandising leaders in CPG have had access to sales and inventory data from their retailer partners for a long time – but until now, that valuable data hadn’t made its way into the marketing world. As a result, brands and advertisers have suffered from a lack of data to optimize campaigns, often wasting precious advertising dollars on products that aren’t even in stock. This problem was exacerbated when supply chain woes made out-of-stocks even more commonplace, leading some brands to pause advertising entirely due to a lack of supply chain visibility – when the better move would have been to reallocate spend where inventory was in stock.
Adding to this situation, John says, is increasing pressure on marketers to drive meaningful business outcomes like revenue, category share, or new customer acquisition beyond traditional KPIs. Amid inflation and an economic downturn, brands themselves are under increasing pressure to compete as shoppers eye private-label (read: less expensive) alternatives to their favorite products. All of this has led John and team to pursue new approaches: “The time is now. Marketers need to drive greater outcomes beyond the usual media metrics we’ve been working with for years now,” he explains.
That’s why OMG has partnered with Crisp to develop a Supply Chain IQ score, leveraging supply chain data from Crisp to enable more precise media planning, activation, and measurement. John says that OMG plans to use this data to not only keep campaigns always on, but to yield marketing ROI that simply wasn’t possible before. For example, with two years of historical sales data for a given product, OMG’s agencies can strategically plan campaigns targeted toward driving performance at specific stores, and actively monitor in-store inventory to reallocate spend if needed. This level of real-time, store-level data goes beyond syndicated data available today. Tony, who spent years in merchandising and category management, explains: “I don’t know if there’s a brand or buyer out there who wouldn’t want Crisp data, because it’s going to drive sales. It’s going to be more efficient on their ad spend and they can see the results. You can say, ‘here’s the difference that we made, and now we’re not just in line, but we’re above our velocity requirements.’”
Crisp data will help agencies move beyond the traditional marketing KPIs to drive and measure in-store sales lift, using metrics like velocity that are core to a brand’s business objectives. Ultimately, John says, this is the way of the future: “I think supply chain and product availability will become a standardized media metric, just like brand safety and viewability are today.”
Watch the full panel discussion at Commerce Week here: https://www.youtube.com/watch?v=OfENkBumYlQ