JBPs can be tools for mutual value but a lot of brands and retailers aren't there yet. Check out our report here to get insights on best practices for your brand or #RetailMediaNetwork: https://lnkd.in/eTHeDpav It was great to partner with Lauren Livak Gilbert and The Digital Shelf Institute, along with some great leaders in the industry and what "Good" looks like. Let me know if you have any questions in the comments below! Microsoft Advertising #retailmedia #RMNs #MicrosoftRetailMedia
Commerce Strategist | Global Digital Community Leader | Executive Director, Digital Shelf Institute | Unpacking the Digital Shelf Podcast Co-Host
💪🏻 Better collaboration between brands and retailers is the key to success for everyone to collectively win. 💪🏻 A big part of that collaboration takes place during Joint Business Planning (JBP) but there is no clear standard practice around how to execute a JBP and after interviewing both brands and retailers there is still some confusion around who to talk to and how to get to the best outcome. The Digital Shelf Institute partnered with Microsoft Advertising to dive into this topic and create a pre-work checklist and templates for brands to use in their JBP conversations. A few key takeaways from the report: ✳️ Some brands have a separate JBP for retail media and the broader business which creates a lot of confusion for the retailer and also creates a disjointed process for the brand and unclear budget allocation. 💫 Best practice is to have one cohesive omnichannel JBP. ✳️ eCommerce can be an afterthought in some JBP processes but 💫 it needs to be included from the beginning ✳️ Retailers have difficulty understanding who to talk to from the brand side and how to navigate. 💫 The more brands can provide a clear map of who is involved int he process and who owns each element the easier the collaboration will be. ✳️ Brands are looking for more creative ways to collaborate with the retailer and want to discuss those in the JBP process. 💫 This is an opportunity for retailers to share any new omnichannel opportunities or test and learns with brands. Nate Pinkston and I also dive into how smaller brands can get the attention of their retailer partners, and who to involve in the JBP process... ⭐️ To view the template, hear perspectives from brands and retailers and read the full report, click the link in the comments👇🏻 #jbp #jointplanning #digitalshelf #commerce #content #ecommerce #omnichannel
