Ibotta CRO Chris Riedy and Circana’s Yeimy Garcia Smith: Media Performance with Measurement

Chris (00:00)

Hey everybody, Chris Riedy, Chief Revenue Officer from Ibotta, here with Yeimy

Yeimy (00:06)

And yes, hi everyone, I am Yeimy Garcia Smith from Circana, live from Cannes, Sunny Cannes, with the CPG guys.

Sri (00:17)

Hello and welcome to this episode of the CPG Guys Podcast. I'm of course Sri, your West Coast co-host, also CRO and co-founder of ThinkBlue Consulting, your trusted partner on your Omni channel journey, where you can get in touch with me at Sri at ThinkBlueConsulting.co. Please do listen to my younger daughter, Lara Raj, of the band Katseye, who after sweeping the AMAs with three awards, have now announced a full tour in the fall of Europe and US. Of course, Papa Raj will be there. This time it's arenas, so I hope you're able to get one of those sold out tickets.

I'm of course joined here live at Cannes by my East Coast co-host and co-founder of PVSB who also moonlights his head of industry and client engagement at Flywheel, the Commerce Acceleration Division of Omnicom. Peter, how you doing man? I know you just got in, you're probably tired, but you did sneak in an hour for Father's Day and I couldn't, so what's going on?

PVSB (01:05)

Sri, first of I want to know, am I gonna get like a discount code so Nadia and I can get tickets to Katseye's Tour when they hit New York City? What am I gonna get?

Sri (01:13)

You're going to have to go on Ticketmaster and look for the second half.

Chris (01:16)

Right.

PVSB (01:17)

No love. This is what I get a hundred episodes.

Sri (01:21)

Peter knows you're going backstage in Boston. We're going to it again. So make that happen.

PVSB (01:26)

Okay. That was joy. Now, Sri, it was a good trip over. I am a little jet lagged, but set up by tomorrow morning and be in sync with everybody else. we've got a lovely residence here in Cannes for the week. it's we're gonna have a lot of events, activations, and a lot of podcast recordings like this one, which will show up on the CPG Guys podcast in very short order, but glad to be here with you.

Chris (01:32)

We'll we'll pick that up.

Sri (01:50)

Indeed and then Peter, think we have something big coming up just four weeks at the time of this recording a week away or so. Yeah. At the time of release. Now what does that mean?

PVSB (01:57)

So well, you and I are heading up to lovely Ithaca, New York where

Sri (02:03)

We are doing something fun before that.

PVSB (02:06)

we're actually the day before we go to Ithaca, we're going to Cooperstown because Sri has never been to the Baseball Hall of Fame. So we are actually going to the HOF induction ceremonies. Wow. And then we're gonna tour, then we're gonna tour the Hall of Fame the following day before we go up to Cornell. And then once we get to Cornell, now we we have allocated a budget for swag that we are going to procure at say

Sri (02:30)

Are you saying I'm gonna have an MLB HOF?

PVSB (02:33)

it there's it's a very large budget. That's all I'm going to say. Okay. Our accountant has already sent us threatening notes saying I will not sign your tax returns above a certain amount. So we've got to be careful, Sri.

Sri (02:45)

We're gonna have to make this

Chris (02:46)

We need this episode to really Yeah.

PVSB (02:48)

We need to push a hit, right?

Yeimy (02:51)

We can do it. We can do it.

Sri (02:52)

is the big one. Let's go.

PVSB (02:54)

Cornell, let's not forget Cornell. So you we've got the Cornell Omnicommerce Leadership Course. It's the last week of July. We've got about 75 students coming up. It is a phenomenal event. A lot of interaction. We even have one of our sponsors is putting together an actual environment where everyone's gonna have an opportunity to build agents for the the work they're doing. So it's gonna be very interesting.

Sri (03:18)

is part of JBPs. That's what the agent will be about. So looking forward to that. And if you want to know more, can ping one of us sri@cpgguys.com, pvsb@cpgguys.com. Of course, you can always go to the Cornell website. Let me thank all of you that listened to us and our sponsors. Without you this podcast doesn't exist. Thank you, thank you, thank you. Make sure you're subscribing to our podcast on your preferred listening platform where you can get our latest episodes. Go back to consume some of the 600 plus episodes we've already published. Episode 600, of course, which was recent.

Mid-June was the Chief Marketing Officer of Dollar General, Episode 599 was the CEO of Newell Brands, Chris Peterson, and we had a full C-suite lineup, entire month of May and midway through June. So please do go back and catch those. And now let's get to our special guest. Look, we're already having fun watching the crosshead were a block away from the Pele. There's massive tension floating around this festival I feel between pure unbridled creative design.

PVSB (04:12)

I think I saw some some blue paint chips floating in the water outside. And maybe was I wrong, was I mistaken, or is that back in DC? I keep forgetting. There was some algae maybe. I don't know. I'm not quite sure anyhow.

Sri (04:20)

saw things floating.

Anyway

Chris (04:25)

The comedy hits hard.

PVSB (04:28)

When it comes to comedy, we're full of that.

Chris (04:30)

It is it is here.

Sri (04:31)

It's called edutainment for a reason. There's a massive tension floating around, get it? Floating. This festival between pure, unbridled, creative design and raw purchase verified accountability. Marketers today are starving for data. We know that. They're completely drowning in platform reported noise, starving for data they can actually trust. But we'll keep this rolling because we have a Blockbuster live recording right here with two awesome guests. Every single brand strolling through camp this week is preaching about the future of commerce yet behind closed doors.

C-suites are feeling less certain than ever about whether media dollars actually landing and to help us cut through the noise and find the signal we're joined live at La Residence by two absolute titans of performance and measurement. Of course, we got one who's the chief revenue officer at Ibotta, Chris Riedy, and she's the SVP of global measurement strategy at Surcona, Yeimy Garcia-Smith. Yeimy, Chris, welcome to the CPG guys, how you doing at Cannes?

Chris (05:27)

Amazing. Amazing.

Yeimy (05:29)

Great, looking forward to that first Aperil spritz later tonight.

Sri (05:33)

All right, Yeimy let's kick it off with you and the changing commerce funnel for the better part of 75 years. Funnel was neat, predictable sequence, awareness, consideration, purchase. It's been that way forever. Today, that world is dying slowly, hanging on to its last strings. Shoppers are discovering on TikTok, getting retargeted via retail media, snapping up promos across publisher nodes, converting where it's frictionless. From Circana's macro perspective, where is the traditional Measurement infrastructure breakdown first in this kind of fluid-ish loop.

Yeimy (06:04)

Yeah, that is a great question. And you know, it yes, we need strong data.

For our measurement systems, there's no question about that. But that's not the biggest challenge. The biggest challenge is comparable measurement in the ecosystem. What's happening is the funnel, that traditional funnel, that traditional linear approach is really no longer here. We know it, but yet we're still measuring as if we had a funnel. So if it's an awareness campaign, it ultimately gets an awareness play. If it is a low funnel play, it's measured on short-term sales and you don't have that comparability and that's a real challenge.

Sri (06:46)

Any thoughts on that, Chris? You've been doing this a long time, just like Peter.

Chris (06:50)

Yeah, so I mean I think funnel just the concept is funny in the sense that it's more of a jungle gym of an approach now. Everybody's bouncing all around. And I think we're moving towards a world where each stage of the funnel needs very clear KPIs. They've got to be easy to measure because as we move to this agentic world, you know, you want to be able to publish those key metrics and then the agents will find the results for you. I think we're a ways away from that. But that is of critical importance.

Sri (07:22)

And every player in this space will tell you they've got the perfect measurement outcome for ROI. But unfortunately standards need to get stronger. So hopefully we'll talk about that some more. Over to you, Peter.

PVSB (07:36)

Yeimy and Chris, When you sit across the table from a consumer package goods brand manager, how do you position IPN's role alongside legacy retail media networks and booming social commerce platforms? Are you guys competing? Are you complementing? Or are you building a completely distinct layer of demand?

Chris (08:24)

I think so, as you said, the first thing is we meet the consumer where they are. We meet the shopper where they are in the journey, whether that's at Walmart or it's at a DoorDash or an Uber or recently giant eagle. we think that's of critical importance. We also think it's critically important to integrate natively with each of those. There's no logging into Ibotta, the consumer at Walmart.

Consumes Walmart cash. They don't know anything about Ibotta. It's just the consumer finding value that's given to them by the manufacturer. And I think because of that, it is very complementary to the retail media network. The retail media network is driving the awareness, driving consideration. And Ibotta provides this pull-through at the, I guess, time of consideration and time of purchase.

PVSB (09:10)

Is it you know when I think about retail media networks, more often than not when you think about sponsored product searches, right, that tends to be they're they're already well on the intent phase. And what I hear you saying is you you complement that by maybe touching different points of the funnel and offering up opportunities.

Chris (09:21)

That's right. So think about the American consumer today. I mean, it we're in this world of uncertainty. And the American consumer cares tremendously about value. And there's plenty of data that supports that today. And so showing up in a sponsored search, that's good. Awareness. Yep. But showing up in a sponsored search and then saying, I'll give you $2 off this product for that consumer that's prioritizing value, that is incredibly.

PVSB (09:53)

Or move them much faster to the buy box.

Chris (09:56)

And so I think where w that's the complementary piece. Retail media is a critically important. You need a home page takeover, you might be doing off site through C T V. All of that is gonna drive the awareness and consideration. But in that moment, whether it's in the search result or on the product detail page, not giving the consumer the opportunity to take advantage of value, that that's gonna could create a challenge.

Sri (10:17)

No question there whatsoever. So I've heard statements like a distinct cross retailer verified purchase layer when I think of Ibotta, Yeimy, let's kind of address that elephant which is sitting right outside this residence on the cross-head. There's an intense, I would say There's an intense cultural friction here at Cannes between the wild unscripted creativity being celebrated on the award stage

the strict performance accountability driving C-suite media spend. So Yeimy, where do brand equity investment and performance investments harmoniously kind of come together in this modern loop? How do you ensure that one isn't starving the other? know, brand equity versus the ROI thing.

Yeimy (10:58)

Yeah, I mean ultimately they need to feed each other. They're not separate metrics on their own. As we think about the ultimate goal of a CFO, especially when the CMO is knocking at its at its door, his or hers door is

you know show me ultimately what business outcomes you drove. And so it is about that awareness that you created, that equity that you created and how that ultimately drives outcomes that help with budget allocation and business decisions. So I think what what is happening a lot today is that they're very disconnected metrics and the way that we think about it is more they're ultimately connected metrics. Like how do you actually

measure the same consumer over time, like all that you're actually changing is the the length of time that you are measuring that consumer so that you can understand your short term versus your long term. But the key question here or the key question that you had is is how do you you get this disconnected metrics back together? And that's how we look at it always. They should be connected, they should not be different measurement systems, they should be the same measurement system.

And you should not all you should not be measuring something on equity and something on sales by themselves. Like you should always have some sort of comparable framework so that you can understand how do this channels drive something in the short term, how does it drive something in the long term, and you can answer it in regardless of the channel.

Sri (12:40)

Chris, how do you answer that question if somebody asked you, how does Ibotta obviously drives ROI because it's a receipt scanning platform? And not just that, you're also, you talked about the coupons and things of that nature for the ROI, but when someone, if someone were to ask you, how does Ibotta help me drive brand equity, how would you answer that?

Chris (13:00)

So I think that

We would have to really look at something that we think is of critical importance, which is just durable impact of transaction. So I think the first thing I would say is we're gonna look at the incremental impact. And if you're running campaigns without a view into the incrementality, would this have happened without this campus? I think you're you're missing a big opportunity there. Circana is obviously a wonderful partner in that regard. And I think that brand

Durability, what I would be asking myself, brand love, if you will, is okay, was this purchase incremental? that that would be a good thing. The next thing I would I would say is how do we make sure those purchases continue? So I would be looking not only at the time of the campaign running, but as Yeimy was saying, you got to look a little bit further out. So what happens in the couple months after the campaign? Ultimately, I think Yeimy's point about stitching together.

the the the brand activation, the the consideration activation, and then the purchase activation, such that it's a one view rather than three unique teams all going to the CFO independently saying, we did it. We are the ones. I hear you and the CV CFO says, I just heard that an hour ago. And I think that happens way too often today. And I I imagine CFOs are they probably get a little frustrated.

PVSB (14:28)

talk about something that does frustrate them and let's pivot into measurement and trust. Yeimy, we have brand marketers sitting in this room and frankly littering the landscape here at Cannes this week, right? Who are drowning in platform-reported, self-attributed ROI summaries. Every dashboard claims a 10-to-1 return. Yet if you look at volume in retail, everybody's struggling, particularly in brick and mortar. What does trustworthy mean?

Mathematically sound measurement actually look like in 2026, and why is it an absolute baseline requirement right now?

Yeimy (15:07)

Yes, I mean what what it ultimately looks like, one it needs to be consistent, it needs to be neutral, and it needs to be causal. I mean, those are really the big three must-haves when it comes to measurement. When you have I mean, I I can only just imagine, right? Like sitting at the door and getting ten to one, fifteen or why, you know, f and somebody else is like

Sri (15:32)

Are you

talking about transparency over ego checking metrics?

Yeimy (15:35)

Yes, And it it is just it can be a really frustrating and confusing sit to to be in when you're getting all of these metrics and you don't actually know who is performing. so neutrality and that standardization is key and this is why the partnership with Ibotta has been such an important partnership because we're now

Taking promotions and we're putting them in the same level playing field as other media. And that is key when it comes to getting that report. You actually have comparable metrics. And a 10, a number 10, or a number 15, or a number 20 actually matters because it's comparable.

PVSB (16:22)

Really?

Sri (16:22)

Awesome, so I'm gonna still stick to my story of transparency over eco-checking metrics and Chris, this one's for you. Your entire financial and operational substrate is built entirely on closed-loop, purchase-verified measurement. When CPG bands talk about, don't like that attribution model, the deep frustrations, the old-school way, what's the core complaint you hear? How do you define trustworthy, true to a skeptical CMO?

Chris (16:49)

I think so the first thing is it's beyond the CMO. CMO is a critical partner, but

The CFO is a critical partner, and the revenue growth management team is a critical partner, and the brand leader is a critical partner. And as we were just talking about, I really think that you have teams inside of these companies that are trying to stitch together distinct and unique reports to try and tell a story. And that that just creates a creates a real challenge. And so I would just go back to this notion of what is the incremental impact that you're driving? And that could be

A store visit, it could be a video view, it could be an actual purchase. There's lots of different things that you can measure, but understanding what you're trying to measure, and then ultimately looking at the incremental impact. I think the other thing that would drive the frustration, be it a CFO or a CMO, is this notion that here's my report. You know, it it it I think that you guys did really well. I am publisher, you did well. Now we do it again, right? And publishers have to

quote unquote grade their own homework because all of their optimization models are built around that. So we're not going to get rid of publishers grading their homework. That doesn't stop. But what you need is a publisher that's willing to find an independent partner like Circana and say, what do you think happened?

And that to me is the gold standard. being able to have the the first party publisher driven measurement that will ultimately allow the models to run, but also ultimately say, hey, here, we'll give it to Circana, they can run it. Or how about we hand it to you and your finance team can review it.

PVSB (18:29)

Biggest complaint we hear from brands when we ask them about are they getting what they want from partners, particularly retail media networks, but any any type of promotion partner, is it's a black box when it comes to measurement. They're doing it inside the house. My natural inclination is to be skeptical. And seems to me what you're saying is, no, no, we've handed it off to a trusted third party that has no interest in it other than to actually measure it correctly.

Chris (18:56)

I think being skeptical is a healthy thing. And I think because of that, finding partners that ultimately will s will share the data such that somebody else can look at it. I think it's really important.

Yeimy (19:08)

And trust is one piece of the puzzle, but when you have varying methodologies and these methodologies are so different that you just you just really don't know how to look at them together. And that makes it that makes it really hard. So the black box creates not just a trust issue, but it also creates this comparability challenge when you just don't know how different they are.

PVSB (19:33)

We're fortunate to have you both here because it turns out that Ibotta and Circana just released some joint research. It's a meta-study of 48 Ibotta campaigns that for the first time applied the same causal methodology used in media effectiveness to promotions. The headline numbers are actually quite striking. Sri and I were were very encouraged by this. 16.5% average sales lift, 17% increase in household penetration, and performance that exceeded total story media.

benchmarks by up to 8x. Wow. Yeimy, what does it mean for the industry that promotions can really now be evaluated on an equal footing with media?

Yeimy (20:14)

It means very simply that martyrs can actually be able to allocate budgets the right way. If you are not looking at it and I'll like, I mean, I'm sounding like a repeating disc right now, but like if you're not actually measuring promotions for Ibotta the same way that you are measuring the rest of your media, then you don't know that it's performing. And these numbers are significant and it allows our

marketers to actually understand performance for the first time in a in a very different way.

PVSB (20:48)

Brilliant. And Chris, for the brand CMOs that are here in Cannes, how should this change the way they think about where promotions should sit in their overall investment mix?

Chris (21:01)

I you know, I I think that the the rub on promotions historically has been it's a subsidization vehicle. that would have happened anyways. The person was coming in store there and other things. And and I think what this is illustrating very clearly through strong, rigorous methodology around test to control, would this have happened if somebody hadn't seen it? Yep. it's showing the incremental impact. And so what I would say is I I that perception.

It's here for a reason. At some point, somebody said promotions are subsidies and we don't want that. I don't mind that perception. What I would just say is let's see what happens. Let's run a campaign. We'll give you, we'll we'll show you the data we have, and then let's have Circana take a look at it and validate it. Ultimately, I want Ibotta to be held to a high standard. I want to be accountable to the brands.

benchmarks, I want to deliver value back to the brand. And if we don't deliver value, I would assume somebody should say, We don't want to work with them. And if we do deliver value, that's where I think I wanna be able to stand out and stand alone. And I think that's just a pragmatic way to run a marketing mix right now. Yeah.

Sri (22:12)

love the way you take that approach of a critical distinction.

So keeping that as a backdrop, let's talk about the brands that are actually winning when they choose to partner with you. This aka the CPG kind of growth leaders data story. Yeimy when Circana runs the numbers across the entire consumer staples landscape, what unexpected baseline operational traits do you see? Like a legacy million dollar brand, know, a giant agile versus a agile emerging challenger brand.

Do they have stuff in common? Are they radically different? When it comes to capturing actual volume growth metrics.

Yeimy (22:49)

Yeah, that's a great question. And it's really interesting because we do a ton of voice of the customer with all of our clients. And one theme that we see across all clients is that they all want faster, faster, faster insights, right?

PVSB (23:03)

Got a need?

Yeimy (23:04)

Right now. Right now. but those that truly differentiate you know ones that are performing versus others is are those that actually can take those insights and action quickly. And that takes a really important

shift in the organizational structure that you have in place to take those insights and actually do something about it. And you would think that that that's a very basic thing to do, right? But it but it is not, especially because you might have commerce teams that sit very separately. You have, you know, finance and marketing not talking to each other the way that they should be talking to each other in the same room.

you know, you have an agency that's playing a different role. And so that is a very basic thing is how to create a framework internally in your organization so that these fast insights that you want so bad are actually being actioned on.

Sri (24:07)

And do you find the laggards and the movers and shakers, it comes down to agility with measurement? Yes. Speed of getting the data.

Yeimy (24:17)

This

speed is one, but it's really the speed of using the using the insights and actually turning them into plans, into shifts in budgets, into shifts of your strategy. It's really hard for organizations to make big strategic decisions like budget allocations, you know, more than once a year, right? But we're still, in some cases, in like annual planning modes.

And with the types of data and the type of speed and types of insights that we can get today, that needs to really catch up. So they want monthly insights, but still planning at an annual.

Chris (24:58)

B.

PVSB (24:58)

speed to insight usage is a big differential. It's not just the insight, you can have it, but if you can't use it, it doesn't change anything. Right. So Chris, expanding on that, when I bought a double clicks down on a hyper-growth challenger brand like Chomps, which Circana crowned a growth leader, I spoke with Kaitlyn from Kaitlyn Fundakowski from Chomps at the retail media summit a couple weeks ago, right?

Yeimy (25:07)

Exactly.

PVSB (25:28)

Anyhow, they were Circana crowned them a growth leader and which has a blockbuster velocity across the Ibotta performance network. The independent Circana Household Lyft Study told a striking story. And I want to get this right. Households exposed to the Ibotta campaign outperform the snacking category household penetration benchmark by 9x. Wow.

What does that kind of new buyer acquisition data reveal about how challenger brands should think about promotions as a growth lever beyond the traditional discount mechanic?

Chris (26:02)

thing one, you give me thing two. Okay, good. How cool is Chomps? You know, like this category that like, you know, meat sticks, they're in 7-Eleven, do we really care about that? They go, you know, better ingredients, more upmarket, product that I think is awesome. Then the team, great team at Chomps. So just a great partner and I and I love the product, and that's yeah, Stacey's the best.

PVSB (26:04)

How old is Chuck?

Sri (26:24)

Would that be Stacey Hartnet?

PVSB (26:27)

she's done.

Sri (26:28)

She's going be on the show shortly.

Chris (26:30)

She's she's really great. But and and so, you know, you said it. It's this, it's decisiveness that I think a business like Chomps, they're just thinking about the end consumer. That's their North Star. What do we do to drive engagement with the consumer and drive conversion, trial and conversion, then ultimately repeatability? They're not thinking about is this a trade spend? Is this a shopper spend? Do I need my agency? Is this media? who?

And I think that focus just on the consumer allows them to take the data that we're talking about and put it to work right away. And when you compare that to some of the heritage brands, behemoth brands that have so much power, so much talent inside the business, these companies sometimes get challenged by whose budget is this? Or wait a second, is that my decision to make, or is it your decision to make?

wait, is it the right time to do this? I know the data looks great, but what about next year? And and that's the thing that I think we should all should take away from the challenger brands like Chomps, is that they take the data in, as Yeimy was saying, and they are decisive with the actions they make about it. If it works, we keep doing it. If it doesn't work, they move away.

Sri (27:49)

You know, when I think about it, Chris, household penetration is critical. We just gave the Chomps example. They had a significant household penetration bump up.

over COVID when people were adopting pets and then post COVID kinda it fell down again because people gave up pets back. Great to see that the performance network actually moves incremental units at scale. Let's look out at what's next here. So we're sitting here at CanLions, we've kinda said it a few times, it's gonna be massive platform announcements, joint ventures, enterprise data deals. If both of you could partner to Re-Architect.

Ideal measurement infrastructure from the ground up for a CPG brand, trying to successfully navigate the next three years in this complex volume challenge, household penetration challenge environment. What would the Brooklyn look like? What would be pieces of that? Who needs to be in the room where it happens to kind of enforce it?

Chris (28:48)

I think you've already said some of the the key ingredients. That I think if the CEO isn't in the

room helping the teams, the disparate teams, come together and appreciate that they're looking for a singular metric that is about what is the consumer doing? Are they appreciating our brand? Are they buying our brand? Are they buying our brand again? I think the CEO has to mandate that. Absolutely has to mandate that.

Sri (29:11)

To your

point, episode 599 was Chris Peterson on the show. CEO of Newell Brands. His command of AI, he was talking about node and infrastructure costs. Peter and I were blown away.

PVSB (29:26)

Using different LLM models based upon the requirements.

Sri (29:30)

That's all we're talking about here, but it's...

Boss.

Chris (29:37)

That's somebody that is a strategic thinker, but also a tactical practitioner. And I think that is that is the thing. Too often this stuff gets outsourced, and then you have different teams. Imagine Yeimy's one team, I'm another team, Yeimy wants to win, I want to win. We're on the same, we work for the same company. But too often you don't see that. And I think that's where I say we need the CEOs to just make it clear to the companies that your budget versus my budget versus your budget, we don't care. Are we moving the consumer? Are we winning with the consumer?

Sri (30:03)

and those silos.

Yeimy (30:08)

Yeah and I I find it really interesting as if

third party measurement provider that sometimes we work on these big measurement projects and then we deliver them to the analytics department and you know our one of our big goals is hey let's get everybody in the room together. Let's make sure that this is action. Let's make sure that there's change man you know a change management approach so that we are actually seeing change from all of these learnings and it doesn't just say

in this room, let's co-build, you know, with this optimization levers together. And that that is really key because sometimes the insights are delivered and then they just stay. And there's so much opportunity to, you know, evolve that and embed it into the organization.

Sri (30:59)

know, Peter and I are both Surconner Alums and it was actually my first job out of college. My biggest frustration and Peter agrees on this one. To the day, the work that y'all do sits in the hands of the analytics and insights teams and they're very territorial. Chris's old message was, the territorialism. At the end of the day, the insights team role is no different than the sales team of marketing, which is advance the numbers.

Yeimy (31:23)

Yeah, that's right. I mean they play as such an important part of the organization, but the key is to bring it all, bring it all together, embedded. Go towards that optimization. Decisions. Make decisions. Yes.

Chris (31:34)

And make the

PVSB (31:38)

Well, our final question today, and we want to send our audience home with a single immediate action item. For CPG brand, chief marketing officer or commercial executive sitting in this room today who leaves Cannes and has to make one decisive change on how they evaluate, measure, or deploy capital against commerce funnel this quarter, what's the single piece of practitioner advice you would give them? Yeimy, let's go with you first.

Yeimy (32:04)

So I I talk a lot about continuous test and learning. And if you want to make a decision and you're not sure where promotions fits into your overall strategy, test it. Get the real metrics, which is what we talked about today, that are causal, that are neutral, that are transparent, and see how it performs. And then continually do that. So that is my advice. Continuous test and learn. Okay.

PVSB (32:30)

Chris.

Chris (32:31)

Go back and listen to this episode. yeah. So that that would be that would be thing one. Hashtag epic. That's thing one. Thing two

Sri (32:36)

seeing not the 600 other episodes we have.

Chris (32:39)

Well, I mean, on this question, on this question, you know, what's the one thing you should do? We covered a lot of ground here. Yeimy, Yeimy did a masterclass on how to how to run a measurement business and not just have it end up as a dusty artifact. okay, here's my thing. Yeah. Find a partner that is a partner that's not a vendor. And what I mean by that is there's a lot of places to spend money, a lot a lot of them are awesome. But do you have the same goals that they have?

Do they make money when you make money? Are they trying to win with you and when you win? Or are they just saying, we want to win? I think ultimately if you establish a partnership whereby sometimes you're going up, sometimes you're a little bit flat, and sometimes you might even be going down a little bit, but you have the vision to get to a great place together, the tactical stuff will work itself out. And so I'd look for the folks that want skin in the game and want to win with you.

PVSB (33:32)

Brilliant.

Sri (33:32)

So wait, are you telling me I have to treat Peter like a partner, not just a partner?

Chris (33:37)

Hundred percent no, he's

only thing two. You know, you're a thing one.

Sri (33:41)

There we go. So let me remind our listeners you can find all of our content by simply going to a web browser and typing CPGguys.com is the URL. If you know someone who has something to contribute in this ongoing discussion of the CPGguys and continue to build our industry, please drop us an email at reachus.cpgguys.com. That's R-E-A-C-H-U-S at CPGguys.com. For our audience, thank you for the clicks, likes, comments, direct messages, meeting us at trade shows.

Meeting us at CanLines these days, events, recording episodes with us and to our sponsors, we're always grateful for you. Thank you for the bottom of our hearts. The show doesn't exist without all of you. You work with us all and we're grateful to have you as your audience and partners. Peter, pleasure doing this live always. These live ones are special. Give us the big takeaway.

PVSB (34:24)

I'm gonna dial it back to something Yeimy said towards the beginning, which is

What we need to do is measure promotions like we do media. What's that gonna do? First and foremost, it's gonna breed familiarity. People understand how to measure media. This will immediately adapt them to be able to trust this more than things they haven't heard. And and then adding on to that what Chris shared, which is you you need to have a third party that people trust. Because if it's a big black box, they're never gonna really believe if the number works. They're gonna always have their skepticisms, but if it's

trusted partner whose expertise is around measurement, you're gonna do a lot better.

Sri (35:05)

Well said, Peter, indeed. you know, break down the silos, that's what I heard from them pretty clearly. When it comes to measurement, everyone's working to the common cause of growing volume, delivering outcomes for the brand, driving brand equity. So please, insights people, please, please, be, share those insights broadly, widely, and listen to your partners as well. That's what I would sum that up as, you know, we learned quite a bit about performance management is how I word.

this episode and the use of data to break down the silos to get there so you can commonly advance what's good for everybody. That is the consumer's outcomes at the end of the day. So phenomenal, provocative insights from both of you. I love how you challenged the industry to break these silos. Thank you for joining us live inside the Cannes Law Residence Studio, the CPG guys. This doesn't get more real than this.

To our audience, check out the digital show notes, follow Chris and Yeimy on LinkedIn, deep dive into the joint data narratives coming out of both Ibotta and Circana Thank you, Yeimy. Thank you, Chris, for making time to be here live with us at Ken, what's arguably one of the busiest schedule of all our lives. Thanks for having me.

Chris (36:18)

Super fun.

Yeimy (36:20)

Thank

you for having us here, especially a gal like me.

Sri (36:25)

That's a wrap of this episode of the CPG Guys.