Panasonic, WD-40, and Clerdata Share How To Drive Retail Media ROI Through Incremental Measurement Strategies

Incremental return on investment (ROI) can make or break retail media sales strategies. Yet, according to eMarketer, 36% of consumer packaged goods (CPG) companies struggle to prove incrementality in their marketing and advertising investments. Forty-four percent question the reliability and accuracy of incremental data.

Given the omnichannel nature of customer engagement and conversion, companies need this smaller-scale data to drive sustained revenue. Brands know they need this data, but most aren’t sure how to collect, analyze, and use it.

In the Digital Shelf Summit 2025 session, “Incremental ROI of Retail Media Investments: Successful Strategies and Lessons Learned,” industry experts discussed the challenges and opportunities incremental ROI poses.

Here’s what Meghan Corroon, co-founder and chief executive officer of Clerdata; Bruna Formagio, senior performance marketing manager at Panasonic; and Gwendolyn Ange, director of data science and sales enablement at WD-40 had to say.

What Is Incremental ROI?

Let’s start with the basics: What exactly is incremental ROI?

Corroon offers a simple definition: “How do I make a dollar that I wouldn’t have otherwise? That’s all incremental ROI is.” She says measuring incremental ROI “is all about a dollar spent. Did it drive the moment that a customer decided to buy your product? Or did they buy someone else’s product? Did they forgo the purchase altogether?”

Return on ad spend (ROAS) ruled the roost of marketing metrics during what Corroon calls the “Wild West” of retail marketing. In this time, evolving digital channels meant that more ad spend easily increased ROAS and drove more sales. 

“What we hear from our customers is that the gold rush may be over,” Corroon says.

This is difficult for some companies and leaders to accept, Formagio says, because “clients like ROAS,” even though it isn’t always a good measure of marketing efficacy.

“You can have a 30-to-1 ROAS very easily, but this doesn’t mean you’re driving incremental sales,” she says. “I see a lot of clients where the ROAS is amazing, but it’s all brand protection. They would have gotten the sale either way.”

Common Incremental Measurement Challenges

Incremental ROI offers a different approach to managing ad spend. By understanding the impact of each advertising dollar they spend, teams are better equipped to make decisions that drive revenue.

It’s one thing to identify the need for incremental data, but it’s another to implement effective measurement and management processes. According to Formagio and Ange, companies often encounter these common challenges.

Too Much, Too Fast

“One of the biggest challenges is that we have so many metrics across retailers,” Formagio says. “That makes it easier for us to understand the opportunity and where we can go. [But] I think we have so much data that we can get lost with the amount of data we have.”

This data overload is partially tied to the always-on nature of digital shopping. According to Salsify’s "2025 Consumer Research" report, nearly 70% of shoppers now make purchases while engaged in other activities, such as scrolling on social media or streaming a TV show.

With significant data volumes moving at high speed, brands struggle to tune out the noise. 

Ineffective Audience Alignment

It’s also tough for brands to find and target new audiences through incremental efforts. “We all know the tried-and-true construction worker or automotive mechanic who’s using WD-40 day in and day out,” Ange says. “But when you’re talking about expanding into new areas, I don’t think we’re always aligned on who that person is.”

Without a clear picture of target audiences, incremental efforts won’t pay dividends.

The Complex Nature of Incremental ROI

Measuring and increasing incremental ROI is a multifaceted endeavor that requires money, time, and effort. According to Ange, this leads to common obstacles: “I don’t have enough money to invest where I want to, or my data is siloed, or it’s hard to connect the right groups with the right audience,” she says.

Unless brands can take on multiple tasks simultaneously, incremental ROI can seem out of reach.

3 Strategies To Improve Incremental ROI

“Until a few years ago, it was all about investing every last cent in retail media,” Ange says. “Now, it’s all about optimization. Where do we find new opportunities? Where are we actually identifying new markets that we haven’t talked to before?”

Accomplishing this goal requires a strategic approach. Here are three strategies to help boost brand ROI.

1. Prioritize Practical Results

According to Ange, the right technology solutions can help companies optimize incremental ROI.

She offers some simple advice for selecting these solutions: “When you’re being sold solutions, watch out for the ‘buzzword bingo.’ For example, I can’t even tell you how many times in the last 48 hours we’ve talked about how AI is the future of our existence and that it’s going to revolutionize all of our jobs.”

These buzzwords don’t mean anything, however, if they can’t back up potential with practical outcomes. “It’s all about basic math,” Ange says. Some formulas and calculations work, and some don’t. Brands need to look for substance over sales pitches.

2. Don’t Forget the Big Picture

While incremental ROI focuses on small changes over time, it still occupies a place in the bigger marketing picture.

The key, according to Ange, is to avoid getting too focused on the details. “We looked at our brand name with the dash versus no dash,” she says. “We’re absolutely not capturing anything incremental when someone is searching for our brand name. Either way, they’re going to find WD-40.”

Small changes must help move the needle on big-picture marketing.

3. Think Outside the Marketing Box

Finally, it’s important to think outside traditional marketing channels for areas with potential incremental opportunity. Gone are the days when websites and newsletters were the primary marketing drivers for brands. Today, customers are inundated with ads across social media, streaming video, and even SMS platforms.

Prospective buyers are also active on channels that are historically disconnected from marketing efforts. “One of the biggest things that we found for our company was Reddit,” Ange says. “Reddit had this incredible ROI that we were not expecting.”

However, she says that success may be fleeting: “We got excited and invested more. And the ROI plummeted. We’re still finding that sweet spot.”

Incremental Optimization Equals Significant Improvement

Small things make a big difference. While incremental ROI can be challenging to monitor and manage, it sets the stage for significant improvements in audience engagement and customer conversion.

For Corroon, Formagio, and Ange, incremental optimization is an ongoing journey with no set destination. Much like incremental ROI, it’s a game of inches, not yards. By prioritizing practical results, keeping the big picture in mind, and thinking outside the traditional marketing box, brands are better equipped to identify incremental opportunities and drive sustained revenue.