Also from Ryan Mathews...
November 29, 2012
Although the process of tracking and analyzing retail digital media is new and still being defined, it already represents about a $750 million spend for manufacturers and is expected to grow. What do you think are the benefits as well as the challenges of analyzing retail digital media activity? [more...]
No more new acronyms for old behaviors. Kellogg monitoring Post's couponing behavior? How radical! "Discovering" that retailers use their own media to push their own products? Ah! The shock of the new!
We are confusing tools with tactics here. Digitalization makes certain old tracking methodologies both more efficient and more effective. But, that said, we don't need jargon speak to articulate that point.
I have no idea what "...some retailers infused communications into their websites to build awareness of their private label brands" really means, but I suspect it means that if you monitor websites you'll discover what your customers are selling. In the Dark Ages of retailing one accomplished a similar goal by reading their circulars or studying "Best Food Day" ads.
Ditto with keeping an eye on competitive promotions. Does RDM "monitor" activity on social media? The article doesn't tell us.
Bottom line: what we don't know is are we really gaining a new tool aimed at tackling new tasks or are we just digitally automating old processes? If it's the former you can try to sell me on the virtues of a new acronym. If it's the the latter, keep your acronyms to yourself.