In today’s report, we’re focusing on the phrase everyone loves to hear: expanding ad budgets.
We’re bringing you stories of growth across the board, and more importantly, letting you know how to get involved with these brands on the rise. Our Winmo team of experts is bringing you right to where spend increase is happening and giving you the reasoning behind it.
We’re making sure you’re prepared to pitch to the right people, at the right time, so that you can get your hands on some of these dollars:
Skyscanner, a tool for navigating the online travel world, has recently named a new CMO and CEO. Bryon Dove was promoted to CEO, effective May 2018. Along with this shift, Joanna Lord was named new CMO, effective February.
With these leadership changes paired with lower level personnel growth, an agency review is likely. The new hires also bring a high chance of spend increases and an expanding ad budget, so we encourage sellers to reach out for revenue. A top spending period has not yet been established, but the majority of spend typically goes toward earned, social and digital channels which should continue as the brand attempts to grow even further.
When reaching out for work with Skyscanner, remember that their brand tone is witty and fun, and they typically target a millennial and Gen-Z traveling demographic.
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The story of growth continues with feminine hygiene product company Thinx. They are actively searching for a CMO to lead them in this growth. COO Shama Amalean was promoted to Chief Merchandising Officer along with Siobhan Lonergan to the position of Chief Brand Officer.
Thinx hasn’t named a top spending period to our knowledge, so sellers should be ready to reach out for revenue year round. Historically, most dollars are allocated to TV, digital, social media in order to reach a female demographic. The company relies heavily on partnerships for success, and with a newly-hired CMO, reviews are predicted within the next 12-15 months.
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SmileDirectClub also experienced some executive shake-ups. Josh Chapman was promoted to Chief Global Brand Officer, effective January. Up next, Bruce Henderson was hired as the first Chief Creative Officer, effective February.
An agency review is imminent within the next 3-6 months according to our Winmo team of experts due to the number of changes in personnel. However, creative work was just brought in-house and is off the table for now.
The company is focused on promoting its beauty products by hosting more events with the goal of improving the customer experience. Current partnerships include CVS and Macy’s with opportunity for growth in both situations. The company is clearly ramping up spend in several areas, and these increases are expected to continue after new hires and with international expansion plans as well. Most increases are predicted through digital, TV and experiential channels but also stay on their radar for sponsorships. This brand is on fire, so make sure you don’t miss your chance to be a part of their expanding ad budget.
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Christina Kline was named Nurture Life’s first CMO, effective November. Along with this change came lower level hires as well, and the hunt continues for several other positions. The theme continues, and along with this new CMO hire, an agency review is predicted within the next 9-12 months if not sooner.
When pitching, be sure to focus on driving brand awareness for the startup and develop ways to differentiate them from their main competitor Little Spoon in order to stand out. Current channels in use include earned media, social media, influencers and digital. Marketing is expected to continue to increase significantly, particularly after the company saw revenue grow 220% in 2018 in comparison to 2017.
Historically, spend spikes occur in Q1 and Q4, so sellers are encouraged to reach out ASAP. Parents are typically the target audience, especially those with young children. The startup is increasing marketing and spend, so don’t hesitate to reach out in order to stay top-of-mind.
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Last but certainly not least, Republic Records has bolstered their marketing team in an attempt to stand out among the many other competitive labels. Leadership changes include Donna Gryn’s promotion from Marketing VP to Marketing SVP and Marleny Dominguez-Reyes’ from Urban VP to Marketing SVP. Several other shifts occurred as well, including the addition of lower level personnel.
With all of these new hires, an agency review is likely within the next 6-9 months. Those with record label experience are highly encouraged to reach out. Expect competition from media agency Havas Media and digital agency Genome. Pitches should focus on ways to assist the brand in its mission to stand out from the rest, especially the labels under Warner Bros., Records and Sony.
Also when pitching, keep in mind spend is predicted to shift towards digital with several hires with extensive backgrounds in digital. Personalized marketing, high ROI, and brand building are all priorities moving forward. Keep in mind their audience is typically millennials and Gen-Z, and with no top spending period, we recommend reaching out sooner rather than later.
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