Nothing signals opportunity like the words expanding budget. Spikes in spend are a flashing light signaling dollars available for you and your team.
Our team of research analysts track industry movements on a daily basis and translates them into quick predictions you can act on, providing the perfect window of opportunity to reach out when brands have budget available.
We’ve collected five brands with dollars up for grabs, and details on where they plan to allocate this budget. Check them out below:
1. Papa John’s Plans Marketing Spend Spike fo new AOR’s Upcoming Work
After a hectic year, struggling Pizza chain Papa John’s has selected Havas’s Camp + King as it’s new creative AOR. According to CMO Karlin Lindhardt, they plan to launch an exciting new campaign this fall. The upcoming creative will feature brand sponsor Shaquille O’Neal.
Media Seller Opportunity: Papa John’s plans to spend around $20 million over the next four months on this turnaround campaign, so sellers should start reaching out for last-minute ad revenue. The creative will likely debut in September. The company tends to invest in outdoor, print and radio channels. Outdoor and print have declined over the past few years, but radio has grown. The target demographic consists of Gen-Z and millennial consumers, with spend spiking during Q4-Q1.
Agency and Martech Opportunity: As you know, reviews tend to follow one another. Media and digital duties may be available. Havas Media Group has only handled media since late last year, with Powell Tate on PR since last August. While neither has reached average agency tenure of 3-4 years, Papa John’s incumbent creative AOR had only been hired about a year ago. Keep in mind it’s also been less than a year since the company hired CMO Karlin Linhardt.
2. AXA Group Launches Creative and Media Reviews, Increases Digital Display Spend
AXA has recently launched a review of it’s creative Publicis and global media AOR Havas.
Media Seller Opportunity: Some agencies have reportedly been asked to step out of the competition, so sellers should keep AXA Group on their watch as the review comes to a close. The agency shifts will bring continued spending increases. Digital display has increased this year, and it will likely continue to increase once a new creative is chosen.
Paid media saw slight decreases this year, but digital display increased 338% from $7.6K to $25.7k. Sellers should take advantage of this. AXA’s recent video campaign starred Serena Williams, who is worth about $180 million, so AXA is willing to spend a pretty penny to reach their demographic.
3. Charlotte’s Web Holdings Increases Digital Spend, Plans to Expand Globally
Charlotte’s Web Holdings (CWH), a leading cannabis production and distribution company headquartered in Boulder, Colorado, recently hired new CEO Deanie Elsner. In addition, the company also hired Eugenio Mendez as CWH’s first chief growth officer.
Media Seller Opportunity: The projected revenue growth for this year is 30-35%, so sellers should prepare to reach out for new spending dollars. Keep in mind marketing efforts for cannabis, CBD, and hemp brands usually remain local. Those in Colorado and legalized states will have the upper hand.
Agency Opportunity: Keep CWH on your radar as a potential digital client, considering it has yet to name an AOR, creative, digital or media buying and planning agency.
4. Charles Schwab CMO Departs Amid Spending Increases
Bank and brokerage firm Charles Schwab has parted ways with Andy Gill, EVP and CMO since January. His duties have temporarily been taken over by Jonathan Craig, interim senior executive VP for investor services, advisory services, retirement plan services, and marketing.
Along with several other recent hires, Charles Schwab has brought on digital transformation VP Faz Assadi, effective June. With a new digital leader, spend in this channel is expected to rise.
Media Seller Opportunity: Charles Schwab typically targets Gen-X and boomers with a male skew. Along with TV and digital, it tends to invest in outdoor and print media but seems to have pulled out of radio this year. Spend is typically high throughout the year.
Agency and Martech Opportunity: Since new CMOs often conduct reviews, reach out soon in order to remain top-of-mind when a new leader is named. Competition will include the Richards Group, creative AOR since 2015, nearing average agency tenure (3-4 years). Media work, retained by UM last year, is most likely off the table. The company also works with Mekanism.
5. BodyArmor Taps Creative AOR Following President Hire, Ramps Up TV Spend
Healthy sports drink brand BodyArmor tapped Laundry Service as it’s new creative AOR after a review. The independent agency will oversee TV, digital, social and out-of-home. It replaces the Brooklyn Brothers.
The change follows several executive shifts, including the hire of Brent Hastie as president in March. Hastie will oversee all aspects of the business, as well as help BodyArmor expand its retail distribution and grow across the globe.
Media Seller Opportunity: The first work from the agency is slated to drop in 2020, so sellers should reach out now in order to remain top-of-mind. After, keep an eye on year-round revenue considering BodyArmor tends to spend evenly throughout the year. The target demographic includes better-for-you athletic consumers, especially men and younger millennial and Gen Z consumers.
BodyArmor has been increasing spend, but keep in mind most of those investments have gone to TV as digital display has seen increases. However, these decreases could very well reverse themselves with the new leadership and agency in place. Expect overall spend to increase with the shifts.
Agency and Martech Opportunity: Since reviews tend to follow one another, those with sports drink experience should reach out for media, digital, and PR work. Berk Communications currently handles PR work. Focus pitches on differentiating BodyArmor from its competitors, especially Gatorade, who has called them out in past campaigns.