We’ve said it before and we will say it again, the number one trigger that helps our clients consistently win new business is knowing when CMOs are starting a new role.
Based on our research, we typically see that upon a new CMO taking their post, they will shake up their agency roster within the first 3-12 months. In this post we’re surfacing timely decision-maker shifts you should act on now.
Brands like Love Energy, VibePay, Reach, London Executive Offices and Apothem Labs are shuffling their leadership team, which means opportunity for you.
Take a look!
1. Apothem Labs Hires CEO, CMO to Oversee October Launch
Apothem Labs plans to launch this October with a premium CBD product as well as a unique, service-driven approach. In order to support this launch and goal, it has been bolstering its executive team.
The company hired Amelia Baerlein as it’s new CEO in January. Jessica Binns was named the startup’s first CMO, effective July. Lower-level shifts followed as well, including the promotion of Georgina Thatcher from manager to director in November.
Agency and Martech Opportunity: The team is likely to bring on agencies, especially those that specialise in PR, to assist with the launch. In addition to assisting with the launch, pitch ways to keep Apotheem top-of-mind in the oversaturated CBD industry.
Media Seller Opportunity: These shifts in leadership will likely see APothem launch with a bang, so reach out now in order to secure revenue. The company will begin by targeting consumers of all ages and backgrounds but plans to launch B2B distribution and white-label services in 2020. Apothem will likely start out with digital and social media, but keep an eye out for media and experiential considering those channels are used to generate awareness.
2. London Executive Offices Shuffles Leadership, Announces Digital Transformation
Flexible workspace solution London Executive Offices (LEO) was sold to Lebara founder Celvam Management for £475m in October. The company saw CEO Jason Leek depart in June, and also hired Justin Skinner as it’s brand and marketing director (brand CMO function) in July. He plans to guide the business through a rebrand and digital transformation.
Agency and Martech Opportunity: With additional shifts following these, there’s a good chance we’ll see agency shifts under the new leadership. Focus pitches on assisting Skinner with his duties as well as differentiating LEO from competitors such as WeWork, IWG, and ServCorp.
Media Seller Opportunity: The company has seen decreases in spend, but these decreases are likely to reverse as the new personnel spread their influence. The flexible workspace is expected to grow 50% by 2022, so LEO is one to keep on your radar. Expect most of the increases to go to digital. LEO targets business decision-makers at both large and small companies. It does not have a top spending period, so look out for revenue year-round.
3. Reach Hires CMO, CEO Amid Digital Transformation
Multimedia publisher Reach, formerly known as Trinity Mirror, hired Jo Bacon as it’s chief marketing officer and invention director in February. On top of that, the company hired Jim Mullen as CEO, effective August 16, to replace incumbent Simon Fox. The company also saw a slew of lower-level shifts.
Agency and Martech Opportunity: There’s a good chance we’ll see agency changes under this new leadership, so agencies and martechs should reach out now for revenue. Media is currently out of Vizeum. Focus pitches on helping Reach deliver on it’s three strategic pillars of growth: optimise, grow and commercialise. These initiatives should see the recent spend decreases reverse themselves. Spend decreases will also reverse themselves because of the growth driven by the recent acquisition of Express & Star and because of the influence of the new personnel.
Media Seller Opportunity: Since spend is likely to go up, sellers should reach out to marketing leaders for revenue. The company’s top spending periods fluctuate, but focus on planning period Q2 and buying period Q1. Reach has a wide demographic, but seems to be focusing on millennials with it’s three strategic pillars.
4. Fintech Startup VibePay Expands Leadership to Prepare for September Launch
VibePay plans to launch this September with its first product: a peer-to-peer payments app. To prepare for this launch, Founder and CEO Luke Massie has been building out the leadership team. The startup hired Nikola Vidal as it’s first CMO in July. Several other shifts followed in order to support the company’s rapid growth plans.
Agency and Martech Opportunity: This new leadership team in place is likely to bring on agencies to assist VibePay with its launch, so we encourage agencies and martechs with fintech or startup experience to reach out for work. Focus pitches on leveraging VibePay’s differentiators: it allows users to create groups and organise social events, it is powered by Open Banking, and it charges no fees. Find ways to stand out among its competitors including PayPal, Cash App and TransferWise.
Media Seller Opportunity: VibePay is focused on millennials and Gen-Z, so sellers with high reach among those demographics should reach out. There should be plenty of revenue to secure from the September launch, and the company has other products in the pipeline as well. With no top spending established, there’s an opportunity to secure year-round revenue.
5. Love Energy Savings Hires CMO to Help with Ambitious Growth Goals
Love Energy Savings (LES), an energy price comparison specialist, hired Phil Windas as it’s new CMO in June. The team saw several other expansions including an e-CRM manager, commercial head, customer generation specialist and content executive.
Agency and Martech Opportunity: This expanded team is likely to review agency relationships, so agencies and martechs should reach out for work. Bring Digital picked up SEO work late in 2014, but other agency relationships are unknown. Focus pitches on leveraging LES’s mascots as well as helping achieve growth goals.
By the end of 2021, LES wants to quadruple its customer base to 160,000 and double it’s annual profits to £10m. At the end of September, it’s raised £25m in private equity from LDC to meet those goals as well as expand its services offerings into categories such as water, telecoms, and insurance.
Media Seller Opportunity: In order to achieve goals, spend will likely increase, especially with funding and a new CMO in place. Sellers should reach out to marketing leaders sooner rather than later. LES uses wide-reaching strategies to target both businesses and consumers. It does not have a top spending period and spends highly throughout the year.