Episode Overview

Title: Retail Media Measurement Is Broken (Here’s What Brands Actually Want Instead)
Host: Kiri Masters
Guest Expert: Andrew Cavado, former measurement leader at Google, Meta, Netflix, and Snap; founder of Growth by Science
Release Date: April 2, 2026
Duration: ~10 minutes

This episode focuses on the persistent misalignment between retail media networks (RMNs) and brand advertisers when it comes to measurement. Drawing on insights from Andrew Cavado’s recent conversation on the "Unlocking Retail Media" podcast, Kiri Masters breaks down why retail media measurement is falling short, what sophisticated brands actually want, and how RMNs can bridge the gap.

Key Discussion Points & Insights

1. Retail Media Networks Should Be Measurement Agnostic

(00:00 – 03:52)

• Overview:
  While big ad platforms (Meta, Google, Snap) grew by supporting whatever measurement methods advertisers wanted, RMNs are rigidly pushing their own attribution tools, misunderstanding sophisticated brands' needs.

• Insight:
  Big tech platforms built credibility by accommodating advertiser-driven models, whether incrementality, MTA (multi-touch attribution), or media mix modeling (MMM). RMNs often push their proprietary dashboards instead of adapting to advertiser requests.

• Notable Quote [01:35] – Andrew Cavado:

  “...the smart platforms will always take a relatively measurement agnostic perspective and kind of forge partnerships and build first party products that are really born of the demand that they're receiving from the advertiser.”

• Practical Implication:
  RMNs are losing credibility—and business—by picking measurement solutions for brands rather than supporting the brands’ established models.

2. RMNs Overinvest in Old-School, Granular Attribution

(03:52 – 06:29)

• Overview:
  RMNs fixate on providing granular path-to-purchase data, believing it proves ad efficacy. However, top-tier advertisers don’t value this—what they need is accessible, aggregated data for advanced modeling.

• Insight:
  Sophisticated brands have moved beyond click-path attribution; they depend on aggregated data feeds, experimentation, and MMM-ready data. There’s still some demand for granular data, but this doesn’t serve the most advanced advertisers.

• Notable Quote [04:23] – Andrew Cavado:

  “What I tend to see happen a lot in RMNs is this over focus on really granular user level data...with the idea that hey, we can prove that there was a touch point on some property that preceded a conversion and that's going to be good enough to prove efficacy. And I would say that that is not the case at all. That's kind of the old school way of doing things.”

• Practical Implication:
  Retailers should invest in accessible APIs for aggregate data, experiment design, and MMM compatibility, supplementing (not replacing) attribution dashboards.

3. Not All Measurement is Created Equal: The “Graduation” Framework

(07:29 – 08:55)

• Overview:
  There’s a spectrum in advertiser measurement needs. Andrew proposes a "graduation" path, recommending different approaches for advertisers at different sophistication and spend levels.

• Framework Steps:

  • Step 1: Directional attribution for new or less sophisticated advertisers—imperfect, but a useful starting point.
  • Step 2: First party lift studies—a sales tool more than a true measurement solution, as it’s “grading your own homework.”
  • Step 3: Third-party geo-testing and MMM integration—for the largest, most sophisticated spenders.

• Notable Quote [07:29] – Andrew Cavado:

  “First Party Lift is always good...However, it is a bit of grading your own homework. I would look at First Party Lift as kind of a more of a sales tool versus a measurement tool and go into it fully acknowledging like, look, we're doing our best to be objective, but we understand that you may not look at this as purely objective because it isn't, because it's our own platform, blah blah blah.”

• Host's Recap [08:55]:

  “A lot of retailers are stuck at step one, but here is the slightly uncomfortable part. Andrew is describing what sophisticated brands need, but a huge chunk of brands aren't even there yet.”

• Transparency is Essential:
  It's not only the CPG giants demanding advanced measurement—mid-market brands often lack the expertise to evaluate what's being reported, so clarity and honesty from RMNs is vital for all.

Memorable Moments & Quotes

• On why RMNs miss the mark [00:40]:

  “It’s not that the ads don't work. It's that they can't prove it in the language that their most valuable advertisers speak.” – Kiri Masters

• On the gap in the market [09:20]:

  “The most sophisticated brands can't get the data formats that they need and the mid market brands can't evaluate what they're getting. Andrew's advice to RMN's is the same regardless. Be honest about what your measurement does and doesn't prove and build the APIs and geo targeting that advanced advertisers require.” – Kiri Masters

Timestamps for Important Segments

• 00:00: Introduction and theme; Andrew Cavado’s credentials
• 01:35: Andrew explains why smart ad platforms are measurement agnostic
• 04:23: Andrew critiques RMNs’ overfocus on granular data and advocates for aggregated, experiment-ready data
• 07:29: Andrew outlines the measurement “graduation” framework and warns against over-relying on first-party lift studies
• 08:55: Recap of the spectrum of advertiser needs and the need for transparency

Conclusion: Calls to Action for Retail Media Networks

• Support multiple measurement approaches—don’t dictate: Match the flexibility of big ad platforms
• Build APIs for aggregated data and enable experiment-driven modeling: Serve advanced advertisers’ real requirements
• Acknowledge the limits of first-party measurement and be transparent: Both for sophisticated and mid-market brands
• Invest in internal expertise: Understand not just how to measure, but why brands are asking for specific data

Listen to the full "Unlocking Retail Media" episode for a deeper dive.