New month, new reports. Welcome to this week’s #EDGEucation report! Our team of researchers brings you four actionable opportunities to pursue ASAP.
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According to the Drum, Tommy Hilfiger announced the departure of chief brand officer Avery Baker going to effect in June. Baker plans to serve as part of a new advisory board made up of outside advisors and CEO Daniel Grieder. However, a replacement for the position won’t be named with a plan to split up responsibilities among high-level executives.
This shift was followed by several others throughout the marketing department, suggesting an agency review within 12-15 months. While media is handled in-house, the opportunity lies in a digital push with a more focused target on a younger Gen-Z and millennial audience.
Revenue reported a 3% rise from Q3-Q1, so be expecting more available dollars towards marketing spend. According to Adbeat, digital display spend over the past year totaled $478 K. Overall spend in 2017 increased to $4.1 million compared to $2.9 million in 2016. With spend, increasing and new products, don’t hesitate to reach out sellers. A review is expected in the next 9-12 months, if not sooner.
Casper is making its first big move in the technology realm with the adult night light just released. The brand continues to attempt to establish a name as a lifestyle brand rather than simply a product.
Casper has not yet defined a top spending period, so don’t hesitate to reach out year round. With a millennial and Gen-X audience in mind, it’s not surprising broadcast, digital, print and social media are typically top channels of investment.
Last year, Casper brought on board a new CMO from its creative agency, Huge along with several other hires on the marketing team. Media work is expected to be available with Ocean Media approaching average tenure, so be on the lookout for a review likely within the next 9-12 months.
Brinker, Chili’s parent company, recently reported a 20% to-go sales increase during the quarter due to increased marketing efforts. The strategy is shifting towards an emphasis on digital platforms, making it more efficient as a whole.
Planning and buying periods historically have been Q2 and Q1. Keep in mind that Chili’s typically targets a millennial audience with a slight female skew.
National TV spend in 2017 totaled $91.8 million, decreasing slightly in 2018 with a grand total of $82.2 million according to iSpot. With Ellie Doty recently taking over marketing leadership, be ready for shifts on the horizon. A larger focus on digital creates opportunity for more work within the coming months.
Regis Corporation, the parent company of hair salons such as Supercuts, has seen negative YOY reports due to several reasons. In order to combat these losses, the Regis Corporation plans to build up their partnership with the MLB, and extremely effective channel for targeting their male demographic.
Along with several other marketing promotions and hires, one notable shift on the sponsorship side is Madeline Spott, a social media specialist who works solely on the MLB partnership.
Although marketing display is declining, dollars appear to be shifting towards digital. Specifically, iSpot reported $6.6 million on national Supercuts TV spots in order to reach sports-oriented audiences. Keep Regis Corporation on your radar as they continue to search for ways to generate success.
