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|Teresa B.||Global Chief Marketing Officer & Senior Vice President||MA|
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|Nigel V.||Chief Executive Officer||MA|
|Amy M.||Chief Financial Officer, Global Financial Operations||MA|
|Erin D.||Director, Customer Experience & Innovation||MA|
|Bill L.||Director, Finance||MA|
Gen-Z, Millennial Male Opps: Citi announces plans to ramp up marketing spend (Score 71)
September hire of its first CMO Carla Hassan.
According to Pathmatics, Citi earned 216.9m impressions through desktop display ads (81%), desktop video ads (13%), mobile display ads (4%), Facebook ads (1%) and Twitter ads (1%). It placed the majority (69%) of these ads through a variety of indirect channels onto sites such as youtube.com, yahoo.com, cnn.com, theatlantic.com and smartasset.com. It placed the remainder (31%) site direct onto sites such as yahoo.com, finance.yahoo.com, amazon.com, ebay.com and sports.yahoo.com. It spent around $693.3k on digital display ads YTD, a 21% decrease from $840.3k spent during the same time period of 2020. Full-year spend equaled $23.9m in 2020, a slight 2% increase from $23.5m spent in 2019.
Magellan reports Citi placed around 150 podcast ads over the last year.
Citi invests in national TV ads separately for banking and credit cards. iSpot, Citi (credit card) spent around $23.2m in this channel in 2020, a 65% decrease from $38.5m spent in 2019. It placed ads during programming such as "Today," "Today 3rd Hour," "Sunday Today With Willie Geist," "Law & Order: Special Victims Unit" and "The Voice."
Sellers-- Citi seems to primarily target Gen-X and millennials. The company's digital ads appear to have a male skew, while its TV ads skew slightly towards a female audience. It decreased spend in 2020, but that was actually due to cost-cutting measures amid the coronavirus pandemic. The company will increase spend this year. It also invests in OOH, print, radio and local broadcast TV ads, per Kantar. Sellers should reach out soon to capture some of these extra ad dollars coming this year.
Agency & martech readers-- We have not seen any agency appointments since Citi brought in its new CMO in September. Keep reaching out to see if you can pick up any of its business. We believe you will face competition from full-service AOR Critical Mass.Agencies that have finance experience may have more success.