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Gen-Z, Millennial Opps: Panasonic loses CMO amid increase in digital spend (Score 50)
Electronics company departed this month after having served as its CMO for five years. Since Sallata handled the company's strategy, digital, corporate communications, demand generation, brand strategy, operations, experiential/events, advertising, creative and content, I expect Panasonic needs all the assistance with these areas as it can get.
In the meantime, the company hired senior marketing manager Phil Dlatt in May 2021.
According to iSpot, Panasonic hasn't utilized national TV since allocating around $13.6k toward this channel at the end of 2018.
So far this year, Pathmatics reports the company has spent roughly $708.8k on digital ads, up 27% from the roughly $556.4k it spent within the same 2020 timeframe. Panasonic's estimated full-year spend of $2.6m in 2020 more than doubled that of $1.2m in 2019. It has earned ~102.9m digital impressions YTD via Facebook (36%), Instagram (33%), Twitter (18%), desktop display (9%), mobile display (3%) and desktop video (2%) ads.
Magellan reveals that Panasonic has also aired 95 podcast ads within the past 12 months, primarily in support of its multi-oven and GB42 hair trimmer.
Right now, the company is primarily targeting Gen-Z and millennials via paid social, podcast and other digital channels. A new CMO may lead Panasonic to expand into OTT advertising in order to reach this audience even more effectively. Per Kantar data, it additionally invests in print, OOH and local broadcast.
Agency & martech readers - Once the company finds a new CMO, it's likely it will seek new agency partners. I suggest you reach out soon to remain top-of-mind since Panasonic has shown a moderate level of interest in agencies recently. At this point, to the best of our knowledge, 9thWonder CA.