Shoptalk Spring, the biggest retail event of the year, just happened and wow. It was full of thousands of changemakers ready to innovate, transform, and create the future of retail. The sessions and attendees made us even more excited to attend Shoptalk Fall in Chicago later this year. As we reflect on the sessions and conversations we had, we wanted to share our key takeaways from Vegas.
Gen AI is everywhere, maybe too thrown around
Everywhere you turned, people were talking about Generative AI. Vendors were throwing the term around like it was on fire. The exploration of Gen AI isn't a new theme but the common questions among people on the floor, and our clients, are "how can we harness it?" "How can we lean on Gen AI in a way that makes sense in a variety of functions?" "Is it ready for the task?" With most vendors talking about how they use and run AI, it felt like the feeling this year moved from differentiator to the norm.
Figuring out email is top of mind
As marketers, you are all probably feeling some level of hurt in regards to email. With the changes implemented earlier this year, people are feeling the hurt of emails getting throttled and filtered. This is a key channel that brands rely on and see impacting profit. Everyone is trying to figure out what will work and what won't, wanting to figure it out without making the situation worse.
Measurement is hotter than ever
With differentiation getting harder and harder to achieve, loss of cookies, and platforms like email enforcing new rules, measurement came in this year's Shoptalk as the hottest point. Here we are, years later, still talking about attribution and measurement. Measurement methods like last click, multi-touch attribution (MTA), and incrementality testing all lack transparency and often are focused on average performance. This leaves teams with channels that are not optimized for true profitability. Incrementality was a hot topic and we were excited to talk with folks about how measurement needs to be treated more like an investment strategy - focusing on media experimentation with agile marketing mix modeling - to ensure your marketing is effective and the measurement is as accurate as possible. Read more about the dirty secret of marketing mix models.
LiftLab at Shoptalk
Our team, John, Angelo, and Dave, had a great experience at Shoptalk in Vegas, and we are so excited to attend Shoptalk in Chicago this fall. Marketers are in a unique moment where the pain point of proving the accurate value coincides with multiple technological advances and challenges while layoffs continue. Luckily, LiftLab can work with you to understand the value and effectiveness of your media spend through media experimentation with agile marketing mix modeling, all while gaining the trust and sign-off from your colleagues and leadership.
Be sure to let us know if you are going to Shoptalk Fall and we can connect in person. Can't wait till October to chat? Request a demo with our team now.