Retail Media Deep Dive Series: Christina Kranz-Kissel - Episode 263
INTERVIEW WITH CHRISTINA KRANZ-KISSEL
DESCRIPTION
In today’s podcast, we are talking with Christina Kranz-Kissel, about Retail Media. Christina has 16 years of experience in ecommerce, and shares some of her insights about RMNs, campaigns, budget, planning, and more!
Make sure you tune in to find out more!
Christina Kranz-Kissel is a Director of Business Development for E-commerce at Petmate d/b/a Doskocil. Her ecommerce career began 16 years ago when she started with macys.com before it was omnichannel and went on to specialize in e-commerce all the years following. Christina sees it as her duty to make an impact, and be a part of history as ecommerce continues to emerge.
“No one is an ecommerce specialist - we are all learning so much, now and over the last 2 years, and there’s so much we are going to be learning.”
KEY TAKEAWAYS
Kiri and Christina start the conversation with what is one thing at her company that has been done well with RMNs - which is Test & Learn - e.g. deep dive on a single SKU. and dissecting any campaign that they run. They use Petco, and Target as channels. Their budget for Test & Learn is more than 5-10%.
Christina shares some advice for walking away from a failed experiment. Kiri shares that 2 weeks is not enough time; you have to monitor beyond that and knowing when to tweak or walk away can be difficult. The best practice is to change/alter a min of 3 times after 2 weeks. Understand the metrics you’re trying to hit, but also look for other metrics the test delivers. E.g. you were expecting ROAS, but you’re getting solid impressions.
If you are increasing brand awareness and not necessarily reaching your ROI goal, you can take it back to the table and say we’re not hitting our goals but our impressions are skyrocketing, so how else is that impacting our business? Not just having a few benchmarks and analyzing the campaign is very important.
Christina believes in “spend when no one’s spending”. We have to keep our eye on the prize. We have to keep brand awareness on the table, and make sure we’re driving our brands to the best of our ability. For us to slow down, because the sales are slowing down because of inventory levels, we can’t slow down. It’s a highly debatable topic. Spending when others are slowing down is a huge opportunity.
Kiri asks what are effective ways to get that point across internally - projecting how would different actions impact the business.
It’s cross-functional teamwork to plan a budget. It's not one team making the call. A team that correlates with the retailer and communicates what the budgets are and what agreed to spend is. Ecommerce team has the skills to execute the campaigns.
Christina talks about what she changed her mind about, regarding RMNs. They also discuss her top 3 predictions for RMNs, Christina is positive that retail media will continue to grow.
MENTIONED IN THIS EPISODE
Connect with Kiri Masters
Learn more about Bobsled Marketing, an Acadia Company
Connect with Christina Kranz-Kissel
Learn more about Petmate
