If Q3 is the slowest quarter, Q4 is the craziest. It’s a race to the finish line to meet sales and revenue goals, use up budgets before the reset next year, and plan for Q1 goalsetting. With brand new CMO hires (and tons of other marketing execs, too), these 33 brands aren’t wasting a second in the rest of 2021. Here’s your unfair advantage to reaching the right contacts, at the right time in Q4.
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:
1) Chewy increases spend
In Q2, the pet supply website spent $172M on advertising and marketing. The company is testing new marketing channels, with positive results. This quick ROI may convince Chewy to continue increasing spend and experiment with new channels. Per iSpot, Chewy spent around $60.1M on national TV ads YTD, a 9% increase from $55.2M spent in this channel during the same time period of 2020. Magellan reports Chewy placed about six podcast ads over the last year.
According to Pathmatics, Chewy earned 2.8B impressions YTD through Instagram ads (37%), Facebook ads (32%), desktop video ads (26%), and desktop display ads (5%). It spent around $24.6M on digital display ads YTD, a 35% increase from $18.2M spent in this channel during the same time period of 2020. Full-year spend increased 4% from $26.7M in 2019 to $27.7M in 2020.
- Sellers: Chewy targets a wide range of pet parents through digital display and national TV ads. It placed the majority of its digital ads directly onto social media sites Instagram and Facebook, which signals it is trying to reach millennials and Gen-Zers. Meanwhile, Chewy also placed TV ads during popular millennial programming. It has been increasing spend, and it noted in its recent earnings report, that it is testing new marketing channels. Sellers should reach out to offer ad space.
- Agency and martech readers: Chewy does not work with any agencies at this time.
2) Def Jam Recordings goes after Gen-Z
The famous record label named Dara Michelle as its marketing EVP and head in September. Michelle was formerly the marketing and digital strategy EVP at First Access Entertainment. Def Jam also hired marketing VP Lena Franklin in October 2021. Franklin joined from Interscope Records, where she was most recently marketing manager. Tunji Balogun will take up the position of CEO at the beginning of 2022 as well.
All of these appointments show a growing interest in marketing, so expect Def Jam to start advertising more heavily in the coming months. Right now, though, neither iSpot nor Pathmatics shows spend data for this company. Right now,
- Sellers: Def Jam primarily targeting Gen-Z music lovers, so the company should invest heavily in digital channels. Sellers able to offer relevant ad space should contact soon.
- Agency and martech readers: Of course, these hires also make reviews possible; get in touch to remain top-of-mind.
3) FreshDirect closes out a stellar 2021
The fresh-food and prepared meal delivery service announced John MacDonald as CMO, effective September 2021. MacDonald most recently served as the brand marketing director for the GIANT Company. This hire could lead to new marketing strategies and potentially agency reviews.
According to Pathmatics, FreshDirect earned 1.1B impressions YTD through Facebook ads (64%), Instagram ads (22%), desktop video ads (11%), mobile video ads (2%), mobile display ads (1%), and desktop display ads (1%). It spent around $10M on digital display ads YTD, a huge jump from $1.9M spent in this channel during the same time period of 2020. Full-year spend fell 42% from $3.6M in 2019 to $2.1M in 2020.
- Sellers: FreshDirect’s grocery delivery services most likely appeal to Gen-Zers and millennials (the company allocates the majority of its marketing dollars to Facebook and Instagram). It also invests in OOH ads, per Kantar. FreshDirect has aggressively increased spend in 2021 with no signs of slowing down. Sellers should contact FreshDirect to offer ad space.
- Agency and martech readers: As you know, new CMOs are the most common indicator that a company will review its agency roster. Start reaching out to MacDonald soon to be top-of-mind. You will face competition from creative AORs SS+K and Peppercomm.