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We’ve been told Q3 is the slowest quarter. Everyone is on PTO and saving their budgets for that Q4 race to the finish line. Just survive it because there’s nothing noteworthy going on. Tell that to these 20 brands that have recently hired new CMOs who could shake up their ad spend and agency relationships. Here’s your unfair advantage to reaching the right contacts, at the right time in Q3.
While each brand below welcomes a new marketing executive to the team, there are many other similarities, too. From banger digital display budgets to agency reviews and a shift to Gen-Z consumers, there’s much to be deduced when you hear about new CMOs hired. Here are additional details on three brands with new CMOs from our complete list of 20:
1) Carter’s ramps up for H2
The infant and toddler clothing brand is doing fewer promotions, instead simply showing its products to consumers. The company believes digital ads provide the highest ROI and drive more traffic to its website. eCommerce has flourished since the beginning of the pandemic, so Carter’s launched a new mobile app and improved its website design. Carter’s also started hosting virtual marketing events to reach millennials, which are a growing target audience for the company.
Per Pathmatics, Carter’s earned 75.2M impressions through Instagram ads (57%), Facebook ads (36%), and desktop display ads (7%). Carter’s subsidiary OskKosh B’gosh earned 21.2M impressions YTD through Instagram ads (58%), Facebook ads (36%), and desktop display ads (6%).
- Sellers: Carter’s mainly targets Gen-Z and millennial women (moms) through digital display ads. It does invest a small amount in national TV ads, but normally not until the second half of the year. It also invests in local broadcast TV ads, per Kantar. Sellers that can provide a high ROI and can get ads in front of millennial and Gen-Z moms will likely have the most success. Contact this company offering digital display ads space.
- Agency and martech readers: Carter’s has an in-house media team with Organic serving as digital AOR and Edelman providing PR.
2) Dunkin’ rakes in billions of impressions
The fast-food and coffee chain hired Rafael Acevedo as US CMO in June 2021. Acevedo most recently served as VP and GM of Coca-Cola’s tea portfolio. He will report to president Scott Murphy and will be responsible for all advertising including field, experiential, traditional, and digital marketing.
According to Pathmatics, Dunkin’ earned 6.1B impressions YTD through Facebook ads (60%), Instagram ads (23%), desktop video ads (10%), Twitter ads (5%), and desktop display ads (2%). Magellan reports Dunkin’ placed about 760 podcast ads over the last year, too.
- Sellers: It seems Dunkin’ primarily targets Gen-Z and millennials through national TV and digital display ads. It increased spend in both channels so far this year, but it is really ramping up digital spend. It also invests in OOH, print, radio, and local broadcast TV ads, per Kantar. Sellers should start contacting Acevedo to see what types of ad space you may be able to provide.
- Agency and martech readers: You know what new CMOs mean, so reach out soon to be top-of-mind. You will face competition from PR AOR Havas Formula and creative AOR BBDO Worldwide. It also works with Zenith Media, Digitas, and Publicis NA on media buying and planning.
3) Chrysler keeps AOR after merger
Stellantis recently concluded a competitive review by naming Publicis as its new global media AOR, which will directly affect its marketing strategy and future agency shifts. This automotive giant formed earlier in 2021 when Fiat Chrysler and PSA Group merged. Publicis had handled the Fiat Chrysler business since 2016, and MediaCom had been the incumbent for PSA after having picked up the account in 2017.
- Sellers: Note that overall digital spend is dropping, while TV spend is on the rise. This signals that Stellantis is targeting Gen-X rather than younger consumers. According to Kantar data, the company also invests in OOH and local broadcast.
- Agency and martech readers: Additional reviews may follow this one, so get in touch soon to offer creative, digital analytics, PR, and/or social media management services. Along with Publicis, Publicis.Sapient seems to be handling digital for the group.