If you’re responsible for driving new business, it’s important to know that in the first 6-12 months of their hire, most CMOs will review existing agency relationships, reshape marketing strategies and reallocate budget to maximize ROI.
This means that connecting with new CMOs at just the right time is crucial in winning new business. Last year, we brought you our eBook, “2018 CMOs to Watch in H2”. Inside, we provided you with six hand-selected CMOs who were actively searching for agency partners, martech vendors and more.
We’re taking a look back at where these CMOs are now, diving into what agencies were hired and surfacing current projects each CMO is actively working on today.
If you missed these opportunities last year, take a look – new projects means new possible work for your agency.
In October 2018, Pier 1 reported a comparable sales decrease of 11.4%, therefore proving their marketing efforts did not drive necessary levels of traffic. They recently partnered with POPSUGAR and also launched their first Amazon shop. The likelihood of an agency shift under Kelly Cook continues to increase with the continued struggles, specifically expected within the next 3-6 months.
Recent leadership shifts include the appointment of Donna Noce Colaco to the new position of Chief Customer Officer. Additionally, CEO Alasdair James stepped down for unknown reasons, and longtime board member Cheryl Bachelder is to serve as interim CEO.
The Richard Group handles creative and iProspect and OMD take on media duties. Sellers, don’t hesitate to reach out in order to secure revenue from the $20 million spent on advertising each year. Keep goals of spreading awareness among a millennial female audience in mind when pitching.
According to sources, CEO Alan Johnson announced a plan to utilize marketing as an engine of growth according to an earnings call. The company is attempting to improve the brand through compelling storytelling and more focus on customer engagement.
As you know, an outside CMO hire is the number one signal for an upcoming agency review. Brandon Rhoten, previously CMO at Papa John’s, joined the team last June. Under his leadership, the company has begun testing the TV market and is on the mission to grow the brand. We encourage you to reach out soon in order to stay top-of-mind for any potential work, especially if you have experience with customer segmentation. MDC’s Doner was tapped for social media campaigns last year, and an agency review is predicted within the next 6-9 months if not sooner.
Since Findlay joined the Stitch Fix team in June of 2018, there have been numerous changes within the marketing department. These promotions and shifts suggest even higher chances of Stitch Fix switching accounts.
Their strategy since hiring a new CMO has included testing marketing spend and channels. They ran a lot through TV, and are continuing to focus on personalization and brand marketing through a diverse array of channels. Changes also include a newly-launched kids platform and plan for expansion into the UK along with new products. Overall spend dropped in 2018, but is expected to increase with even more new hires. Creative is handled in-house, but it is unknown who handles media. However, according to sources a review is predicted within the next 6-9 months so begin reaching out now to establish a relationship with decision-makers.
Cadillac is hoping that CMO Deborah Wahls can help them overcome recent struggles results in declining sales. In 2018, GM announced a move of expansion into SUVs and crossovers, which is what future advertisements will focus on. The brand has recently invested heavily in experiential efforts with Girlboss, Live Nation and the PGA of America. Future plans including rebooting a subscription program as well.
Typical buying and planning periods are Q2 and Q1, and keep in mind there’s been a heavier focus on the female demographic recently. Rokkan has handled creative, social and digital responsibilities since 2014, longer than the average agency tenure. Media has been Carat’s duty since 2012. Since Wahl has not been in the CMO position long, there may still be work available. Also, pay close attention to Book by Cadillac after reports of its global director departing in August, which signals a high chance of an agency change.
Last year, Casey’s General Stores progressed significantly in the realm of digital engagement. Mike Templeton has joined the team as a Director of Digital Marketing.
In December 2018, a campaign debuted that will continue to roll throughout the next two quarters. A new digital ordering platform along with a new mobile app and loyalty program are scheduled to launch in Q1 of 2019. The brand has placed a recent emphasis on targeting a millennial and Gen-Z demographic and is definitely one to continue to have on your radar with all the new implementations.
According to sources, the company is continuing to bring more work in-house, but project work may still be available. Deloitte Digital handles e-Commerce as of recently.
After the hiring of new CMO Joel Yashinsky, Applebee’s named Current new PR AOR less than a month after the hire. Additional shifts have not yet been announced, so we encourage you to continue to reach out for work with the struggling brand. Grey Group took over creative in 2017 and Society handles social, but who handles media is unknown.
Amidst struggles, Applebee’s is making a big effort to better attract millennials. Other attempts at improvement include partnering with DoorDash in order to create abilities to deliver during football season and also increasing TV spend.
Although not all of these brands have made significant changes just yet, it’s important to keep them top-of-mind so you don’t miss a big opportunity when it strikes.
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