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WinmoEdge
Digital B2B Opps: Red Hat announces CMO retirement & replacement (Score 49)
marketing communications & brand VP Leigh Day to marketing SVP, and in January 2022, Day will step in to the CMO role and take over the company's marketing team. This leadership shuffle will likely affect the marketing strategy and could lead to agency reviews.
According to Pathmatics, RH earned 516m impressions YTD through Facebook ads (60%), desktop display ads (25%), Instagram ads (7%), mobile display ads (4%), desktop video ads (3%) and Instagram ads (1%). It placed the majority (93%) of these ads site direct onto sites such as facebook.com, yahoo.com, twitter.com, nytimes.com and youtube.com. It placed the remainder (7%) through a variety of indirect channels onto sites such as techcrunch.com, finance.yahoo.com, stackoverflow.com, mocospace.com and brainly.com. It spent around $3.7m on digital display ads YTD, a 26% decrease from $5m spent in this channel during the same time period of 2020. Full-year spend jumped from $2.4m in 2019 to $7.3m in 2020.
Magellan reports RH placed about 10 podcast ads over the last year.
Sellers-- RH's IT software appeals to businesses, which it targets through digital display ads. YTD spend is down after it increased spend significantly in 2020. This indicates that it is experimenting with the budget, which will likely carry over until Day takes over as CMO. It also invests in OOH and print ads, per Kantar. Reach out to see if you can offer relevant ad space.
Agency & martech readers-- To the best of my knowledge, RH works with PR AOR Greenough Communications and digital shop CTP. While promoted CMOs are much less likely to make changes than outside hires, this could still lead to a review. Start readying your pitches so you can reach out once Day takes over in 2022.