Pat Mulhern

Scaling retail @ Kettle & Fire. 0 to 1 + 1 to $100m CPG consulting. Co-owner Parrot Surf & Skate (CHS)

[Pat Mulhern @Patjustsquatted]

@financedystop Make Civil Service Great Again - there are an untold number of local and state agencies that can't find enough folks to fill these very well-respected positions.

Fire, Police, EMS, and any other municipal-based organization.

You won't get rich, but I bet you could find a gig.

[Pat Mulhern @Patjustsquatted]

@kevinleeme GOLD!

[Pat Mulhern @Patjustsquatted]

@dranthonygustin Great recco - Ive been using it nightly since the original post… definitely helps

[Pat Mulhern @Patjustsquatted]

@JasonStarr @EyeforRetail_ might pushback on that a bit - at least from the digitally native side of things... I've found a lot of success redirecting DTC audiences into initial retail launch partners to establish an easy-to-unlock baseline of sales to work up from.

[Pat Mulhern @Patjustsquatted]

@Matt_Goodcrisp @homerfolmer +1

"good" movement looks different at different retailers, and also varies by category

Might also mention that with a premium price point, we're generally speaking in $/S/W to tout our performance levels and the margin they're taking to the bank at the end of the day

[Pat Mulhern @Patjustsquatted]

@CPG_Precision love 84.51 - I think for most brands, playing with their awareness (TOFU) levers is probably hard to justify given the costs + lack of attribution

I do recco their LCM opptys for loyal shoppers (BOFU) + My Mag opptys when targeting comp. level shoppers (MOFU)

[Pat Mulhern @Patjustsquatted]

@CPG_Precision Aligned - every situation is different, and I am mostly speaking w/ a center store grocery hat on... don't play too much in DRUG

[Pat Mulhern @Patjustsquatted]

@CPG_Precision @Matt_Goodcrisp We look more at Net rev. on promos in the accounts you're referencing (Gross rev - trade spend). They Drive the most volume but generally are also the most expensive. Anything w/ an incremental (gross rev-base rev) ROAS >1.25 is good spend here + now imo

[Pat Mulhern @Patjustsquatted]

@CPG_Precision My 30% is representative of an established brand pretty far down the distro hole with new door opptys coming mostly from retailers that don’t require slotting. You’ll run into some of that still with new inno in the $$$$ doors but it’ll be a much smaller hit

[Pat Mulhern @Patjustsquatted]

@CPG_Precision Depends on the life stage of the brand. You should expect much higher trade rates in the first couple years as youre gaining distro. Recco bifurcating free fill/slotting out of total trade of internal reporting to best understand those costs.

[Pat Mulhern @Patjustsquatted]

@CPG_Precision 2/ the only strategy i’d recco as you may be reevaluating quarterly allocations would be to just regularly reevaluate the levers your pulling, how well they’re performing and if that spend could be better spent on higher ROAS driving options out there

[Pat Mulhern @Patjustsquatted]

@CPG_Precision Depending on life stage of the brand, I’d probably recco 25% of that 10% is allocated to brand level impressions plays and the other ~75% should be focused on attributable performance levers (ideally that show up as retail scans if DTC is not a core focus)

[Pat Mulhern @Patjustsquatted]

@CPG_Precision My numbers do include slotting*

[Pat Mulhern @Patjustsquatted]

@CPG_Precision I like to think about trade in the broader lense of total marketing spend given the lines are blurring more and more these days w/ all the digital platforms that funnel into retail sales these days.

[Pat Mulhern @Patjustsquatted]

@thisisjakesloan How would you attribute the partnership spend to this kind of growth?

[Pat Mulhern @Patjustsquatted]

@Matt_Goodcrisp @thisisjakesloan @AdgileMediaGrp We’re spending a bit more and playing with their conversion and awareness levers with significant success. Topped out captured revenue ROAS (instacart often reports on $ scans) at 5.75 in ‘22, ytd ‘23 avg of 3.3

No ceiling yet but focusing more and more on impression levers

[Pat Mulhern @Patjustsquatted]

@Matt_Goodcrisp @thisisjakesloan @AdgileMediaGrp And with the cost of social ads these days, I think that retail footprint and exposure will begin to organically drive DTC/AMZN sales via diehards who discover brands in store

[Pat Mulhern @Patjustsquatted]

@Matt_Goodcrisp @thisisjakesloan Agree with this allocation x-demos, so:

- 50% retail media (instacart would be first choice but we’ve had a lot of success with https://t.co/Sbu0CnQtKQ and WFMOA, and am hearing great things about @AdgileMediaGrp)
- 50% trade (always focused on whatever it takes for display)