Metrics drive decisions, but are we tracking the right ones? On today's panel episode, I'm asking brand side retail media leaders about the new metrics they're embracing, and their answers might surprise you.
One leader challenges the very premise of seeking out new metrics, arguing that we already have enough, and that it's about choosing the most appropriate one for each campaign objective.
Another of our panelists is waging war against ROAS, tunnel vision, shifting focus to customer level metrics that tell a more complete story. And finally you'll hear from. And finally, you'll hear how one team is expanding beyond traditional digital metrics to track omni-channel impact measuring digital's contribution to total business growth.
Whether you are drowning in dashboards or searching for better performance indicators, this conversation cuts through the noise to focus on what really matters. Let's dive in to this summary of the discussion.
Do We Really Need New Metrics?
Josh Clarkson, Global Lead for Retail Media at Mars and Chief Consultant at Edify Digital Commerce Consulting, challenged the very premise of my question with refreshing candor:
"I think we've got enough metrics," Clarkson says. "My main focus in retail media is that whatever the campaign objective is, whatever part of the proverbial marketing funnel a campaign's trying to drive, that we just use the appropriate metrics."
He points out a common disconnect that many of us have experienced: awareness campaigns being measured by ROAS, or conversion tactics evaluated through CPMs and reach. "It doesn't really make sense," he says.
Clarkson's perspective suggests that our measurement challenge isn't about inventing new metrics, but rather about disciplined application of the right metrics for each specific objective. This approach requires greater clarity about campaign goals from the outset - something that's often overlooked in the rush to launch and measure.
Breaking Free from ROAS Tunnel Vision
Todd Weagent, Director of Sales at electronics brand Masimo, shared how his team is actively fighting against the gravitational pull of ROAS as the universal metric:
"Internally, we've had to do a fair amount of fighting to resist the urge to say, 'ROAS is our metric that we're gonna measure on everything,'" Weagent says.
His team has embraced a more nuanced approach, potentially using up to six different metrics depending on campaign objectives. For example, certain campaigns might intentionally target a lower ROAS in service of other goals like new-to-brand customer acquisition.
This shift hasn't been easy, particularly with finance teams who often prefer the simplicity of a single metric. But Weagent's experience highlights the importance of having these cross-functional conversations to align on what success truly looks like for different initiatives.
The Omnichannel Lens
Julie Liu, Director of Digital Commerce at Ghirardelli Chocolate Company, brought perhaps the most transformative perspective by focusing on metrics that connect digital performance to total business impact:
"Some of the feedback that I received recently over the past year internally was, okay, it's great to see the strong digital performance, but what does that mean from the total company perspective?" Liu explained.
In response, her team has adopted an omnichannel measurement framework that includes:
- Year-over-year dollar growth for both in-store and online
- Digital penetration and the change versus last year
- Share of incremental dollar growth that digital is contributing to the total account
While these aren't necessarily new metrics in themselves, Lu's approach of consistently framing digital performance within the context of total business results provides crucial visibility into how digital efforts impact the broader organization.
"The newer metric is just making sure that we're framing up the metrics from an omnichannel lens so that we can provide more visibility into how digital is impacting the total account or even the total company," she says.
The Bottom Line
The insights from these leaders point to an important evolution in retail media measurement. Rather than chasing new metrics, the focus is shifting toward:
- Objective-based measurement - Using the right metrics for each specific campaign goal
- Breaking free from ROAS fixation - Embracing multiple metrics that tell a more complete performance story
- Connecting to total business impact - Demonstrating how digital efforts contribute to overall company growth
As retail media continues to mature and claim a larger share of marketing budgets, this more sophisticated approach to measurement will be essential for demonstrating true value and securing continued investment.
