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|Al M.||Global Chairman & Chief Creative Officer||CA|
Sample of Related Brands
|Barbara O.||Chief Financial Officer||CA|
|Mike B.||Executive Creative Director||CA|
|Jason R.||Group Creative Director||CA|
|Lindsay T.||Account Director||CA|
Gen-Z, Millennial Opps: Cox Automotive tries to stay relevant among younger consumers
Cox Automotive CMO Ken Kraft recently went over some of his goals for the company's future. Right now, the brand is focused on reaching and remaining relevant to Gen-Z and millennials. Those able to support this effort should keep Cox on their radars.
According to Pathmatics, Cox Automotive has spent roughly $141k on digital ads YTD, down 30% from the roughly $201.4k it spent within the same 2021 timeframe. In 2021, the brand's estimated full-year spend skyrocketed to $690.8k from that of $26k in 2020. So far this year, Cox Automotive has earned ~30m digital impressions via desktop display (96%) and mobile display (4%) ads placed onto site destinations such as yahoo.com (59%), adweek.com, imgur.com, drudgereport.com and mediapost.com.
If Cox Automotive is trying to reach Gen-Z and millennials, I expect digital spend will pick back up and it will shift toward additional digital channels such as paid social, OTT and/or podcast. Low spend may reflect lower-than-desired ROI, so sellers able to offer high-ROI strategies among younger audiences will have an advantage securing ad dollars. Kantar data reports parent company Cox Enterprises also invests in print (magazines), OOH and local broadcast.
Agency & martech readers - I see no glaring signs of imminent reviews, but you may have a shot down the road at project-based work. For now, Cox Enterprises works with media AOR MWWPR (PR).