Joint Business Planning - Episode 359
🎙️Interview With Lauren Livak of Digital Shelf Institute and Nate Pinkston of Microsoft
DESCRIPTION
Welcome to another episode of The Ecommerce Braintrust podcast hosted by Acadia’s Head of Retail Marketplaces Services Julie Spear and Director of Retail Operations, Jordan Ripley.
We’re joined by two great guests today: Lauren Livak Gilbert, Executive Director of the Digital Shelf Institute, and Nate Pinkston, Head of Growth at Microsoft’s Retail Media division.
In this episode, we’re focusing on the key takeaways from the report they released earlier this year, which represents a guide to the evolving landscape of Joint Business Planning.
Tune in to get an insider’s take on who, when, and how the most successful brands approach the JBP process across various retailers.
đź“™ RESOURCES
Download the Joint Business Planning Between Retailers And Brand Manufacturers report from the Digital Shelf Institute.
“Not having an omnichannel JBP sets you up to spend more money that you might not have and just be disconnected internally. And you will present yourself disconnected to the retailer. So it can create confusion and frustration.”
KEY TAKEAWAYS
In this episode, Julie, Lauren, Nate, and Jordan discuss:
Explanation of JBP and its critical role in brand-retailer relationships.
Comparison of JBP processes among different retailers (Amazon, Walmart).
JBP Lite: Less detailed, often used by smaller brands or those with weaker retailer relations.
Omnichannel JBP: Integrates all sales channels and stakeholder inputs for holistic collaboration.
Issues stemming from having separate JBPs for retail media and marketing.
Importance of integrating retail media into the JBP process.
Nate Pinkston's emphasis on retail media budgeting and its role in sales.
Cross-Departmental Collaboration: Need for the involvement of finance and other departments from the start.
Recommendations for effective stakeholder engagement and process improvements.
Lauren Livak's advice to start JBP preparations six months in advance.
Continuous monitoring and revisiting of JBPs throughout the year.
Recommendations for Brands: Integration of finance for comprehensive planning.
Clear communication and defined roles among stakeholders.
Transparency and data sharing between brands and retailers.
Involvement of sales, marketing, e-commerce, procurement, finance, and supply chain in JBP.
Importance of sharing growth goals, feedback, and maintaining open communication channels.
Recap of the importance of coordinated, omnichannel approaches to JBP.
Final thoughts on avoiding organizational silos and ensuring transparency for mutual success.
MENTIONED IN THIS EPISODE
Connect with Lauren Livak of Digital Shelf Institute
Connect with Nate Pinkston of Microsoft
Connect with Head of Retail Marketplaces Services Julie Spear
Connect with Acadia’s Director of Retail Operations, Jordan Ripley
Learn more about Acadia
