Prospect Now: 4 New Business Opportunities

Prospect Now: 4 New Business Opportunities

New year, new opportunities. Start off 2019 strong with this week’s #Edgeucation report, highlighting four actionable insights from our expert writers and researchers at  WinmoEdge.

WinmoEdge provides daily updates on new business opportunities that could change the game for you and your team, helping you win more business by keeping you up-to-date on all the latest leadership changes, strategy shifts, and spending reports on innumerable companies.

This week, we’re highlighting four different opportunities — including a “Told Ya” follow-up story demonstrating the accuracy and timeliness of our WinmoEdge predictions. If this week’s wrap-up interests you, be sure to request a Winmo trial in order to discover even more insights and stories that will put you ahead of your competitors and enable your company to stay top-of-mind for arising opportunities.

Adtech Sales Opportunity:

Walgreens Boots Alliance is a global drugstore chain that operates as the second-largest pharmacy store in the United States operating in three business segments: retail pharmacy USA, retail pharmacy international, and pharmaceutical wholesale.

The company named Vineet Mehra as global CMO, which will go into effect at the end of January. Mehra is an expert in the marketing field with prior experience at Avon, General Mills, Johnson & Johnson, and Procter & Gamble. He was also named on Forbes Top 50 CMOs list and plans to add positively to an already growing team and company.

According to sources, Walgreens reported double-digit earnings percentage growth in a recent Q1 earnings call, on par with their main rival CVS. Walgreens partners with Kroger as well as Verily in order to better help customers manage their health.

With the change in leadership, adtech readers should plan to capitalize on likely reviews within 6-9 months potentially. According to iSpot reports, National TV advertisements targeting their millennial demographic reached a spend of $201.5 million, much higher than the 2017 spend of $96.4 million, while digital display spend went from $18.7 million in 2017 to $8.5 million in 2018. Don’t let decreases discourage you, as we predict the addition of Mehra will bring shifts in strategy and spend.

Media Sales Opportunity:

Farmers Insurance Group operates as a provider of insurance management services and a holding company, serving as one of the nation’s largest writers of homeowners and private passenger auto insurance policies.

Recent activity includes their “We know from experience” campaign airing sequentially across TV channels in an attempt to establish brand awareness with their younger audience. According to sources, Farmers Insurance typically invests in TV, digital, outdoor, print, radio and social media outlets.

TV ads specifically required $130.2 million in 2018, which was more than the 2017 full spend of $129.7 million according to sources. Hulu is also a popular outlet for the Farmers Insurance in an attempt to reach their millennial demographic. Digital display ad spend has risen significantly from $151,000 in 2017 to $924,500 in 2018 according to Adbeat.

The media opportunity is evident considering Zennith Media has handled buying and planning for the company since 2018, much longer than the predicted tenure of 3-4 years. With a rise in spend in multiple areas, Farmers Insurance is on the rise and one to look out for in the new year.

Agency New Business Opportunity: Told Ya!

According to our WinmoEdge team’s reports in November of 2018, Blue Apron continued to struggle with a 4% staff layoff in order to cut costs by $16 million. In the midst of the turmoil, CMO Jared Cluff decided to pursue other opportunities and predictions were made that the creative partner Droga5 would also be affected, due to the fact that the company’s lack of success resulted from failed marketing efforts.  

The WinmoEdge predictions came true, and Swift was named as the new creative AOR official last month. Their first campaign “Our Compliments to Every Chef” launched in late December. More agency shifts are likely as Blue Apron desperately attempts to attract customers that will be loyal, targeting anyone with an interest in cooking. As Blue Apron scrambles for a way to find success, those with food and beverage experience are encouraged to reach out.

Agency New Business Opportunity #2:

Burberry is an internationally recognized luxury brand with worldwide distribution, known for its innovation in fabric and outerwear. Scoring a 78 on WinmoEdge’s Vulnerable Account Index, signs of an agency shift are present and predicted to be 6-9 months out.

Shifts in leadership have been the story of Burberry recently with Rod Manley named as the new CMO effective January 7. Chief creative officer Riccardo Tisci and CEO Marco Gobetti also joined the team recently, signaling a new strategy including a new logo and monogram. It should be noted that these shifts took place in the UK but will without a doubt make a difference in the United States, creating opportunities for agencies to reach out for work with all of the company changes.

Burberry fans have voiced complaints about the new logo and continue to struggle with the #burnberry situation in which the company wasted $37.8 million in overstocked clothing. Anyone in search of work should keep these factors in mind when reaching out, and also be aware that spend in print and out-of-home spending decreased according to sources. However, the company does still have a significant ad budget and is on the search for someone who can help turn things around, and it’s highly likely digital will become a priority with the strategy shifts.

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