For those in happy and committed relationships, Valentine’s Day can be a day full of love, romance, and true bliss. But for those who are dealing with a recent breakup, it can be a painful reminder of what used to be.
This Valentines Day, we’re flipping the script to celebrate the most recent CMO breakups. Why? Because it means more opportunities for your agency! As you might know, the departure of a CMO and the hiring of a new one signals significant agency roster changes within roughly the next 6-18 months.
Today, we’ve decided to play matchmaker and highlight five brands on the hunt for a new CMO, and therefore likely a new agency as well. Valentine’s Day is the perfect time to get on these brand’s radars, after all, you could be just the agency they’re looking for.
Tristan Simpson said sayonara to Nichols Farms! After holding the CMO position for less than a year, she left in order to focus on her marketing consultancy. This put the company on our WinmoEdge Vulnerable Account Index, with the shift signaling a future need for agencies. Although a replacement has not been named quite yet, the company has made several management-level hires since the CMO break up.
Up until this point, Nichols Farms has relied mostly on traditional platforms and social media engagement. As you all know, a new CMO hire brings the potential for a new marketing strategy as well, and we predict the company will make moves into other media channels, particularly digital display. We encourage readers to reach out soon in order to stay top-of-mind as the company attempts to rebound and find a replacement for Simpson.
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Streaming service Kanopy lost CMO Sarah Anderson, and the worst part of this CMO break up is we don’t even know why! After being in the position for about eight months, Anderson is moving on and is yet to announce her next steps. We’re thinking there could be another agency in the picture.
Kanopy has not yet named a replacement, so we encourage agency and martech readers to reach out to lower level positions for the time being in order to stay relevant. The demographic includes both B2B and D2C audiences, so direct pitches towards these audiences. Anderson’s duties include customer experience, PR & communications, direct marketing, engagement and user acquisitions, all of which will become new CMO roles. Some good news amidst the break up is Kanopy’s spend continues to increase. According to Adbeat reports, Kanopy began running through digital display in September 2018 and since then has allotted $11.3K to the channel. Those with high ROI and the ability to reach their demographic will be most competitive for any upcoming available work.
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From one brew to another, CMO Noelle Haley left Lagunitas Brewing Co and is now VP of Marketing & Growth at Equator Coffees & Teas, reported in January. Lagunitas is actively searching for her replacement. Since the CMO loss, Lagunitas has made numerous marketing hires to numb the pain.
Keep them on your horizon, especially agencies with alcohol experience as they will be top of the mind during an expected agency review. Also, note that Lagunitas has been struggling to stay ahead of their competition and recently released more millennial-focused products (healthier and non-alcoholic) in order to combat these issues.
Although spend went up in 2018, we may see a decrease this year with the recently reported struggles. Expect ROI and social and digital work to become a major focus. Adbeat reports digital display over the past year totaled $445.2K, an increase from $97.4K spent in the previous year. So don’t hesitate to reach out, there are definitely still dollars available.
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Post CMO break up, Slack is looking for a new identity, and a full company makeover is in the works. Slack recently redesigned it’s look and evolved its logo in order to go for a simpler and more distinctive look.
Hope Frank, Slack’s CMO for six months, departed in January and a replacement has not yet been named. The company targets millennial professionals and spends consistently all year round. According to Adbeat, Slack has spent $1M on digital display in the past year mostly through direct. Slack continues to make changes through hiring and promotions, and most importantly a new CMO will likely review agencies, so definitely keep them on your horizon.
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The retailer’s struggles continue with CMO Marci Grebstein stepping down in February. Not a lot of details have surfaced, with next steps undecided for both Grebstein and the company. Other recent executive shifts have occurred as well, including a new CEO who was hired only three months ago.
Digital and media rosters are extremely vulnerable as JC Penney searches for any sign of improvement. The company is currently making an attempt to refocus their demographic, and we are unsure if millennials will continue to be their main audience. The only thing we know for sure is spend will continue to increase in order to overcome their struggles, so sellers are encouraged to reach out. Keep in mind spend is typically highest during Q2 and Q4, and keep an eye out for a review potentially within the next 6-9 months.