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Millennial, Gen-X Media Opps: Sleep Number to continue spend increases following sales uptick
According to execs in the Q3 earnings call, Sleep Number will continue to amplify their brand by leveraging their multi-year NFL partnership. How is that possible with football season set to die down in January, you ask? Sleep Number isn't just relying on the main season, instead using activations during the draft and other football-focused events.
Expect overall spend to increase, too, since their pivot to sell only 360 smart beds has driven an increase in sales. They invested heavily in search marketing last quarter to stay top-of-mind amid competition, a trend which should continue during Q4 and the holiday rush, and they have been focused on improving the direct-to-consumer retail experience with in-store activations and new stores (they wish to increase their store count from 585 to somewhere between 600 and 650).
In recent months, digital display, out-of-home, print and radio spend has declined in lieu of TV spend. However, I expect the majority of these declines to reverse themselves since Sleep Number just had some personnel shifts. They promoted Sarah Seitz from media coordinator to digital media specialist (April) and lost public relations manager Sarah Reckard to the external communications manager position at Honeywell/Resideo (August). According to their LinkedIn, they are searching for a director of media strategy, a digital product manager and a senior manager of product brand.
With all of these new initiatives and marketing set to rise, sellers should reach out to see what revenue they can secure. They primarily target millennials and Gen-X. Spend often spikes during Q1 and Q3.
a new spot that began airing 11/1 in promotion of their NFL partnership. Spend during the same timeframe of 2017 totaled $80.5 million, full 2017 spend totaled $96.4 million and spend in 2016 totaled $111.6 million.
Pathmatics reports a YTD digital display spend of $1.2 million, a decrease from the $2.8 million spent in the same timeframe of 2017, a full 2017 spend of $3.2 million and a 2016 spend of $3.4 million. This year ads are placed primarily direct (82%) onto sites like iheart.com, youtube.com, hgtv.com, money.cnn.com and cnn.com. Last year ads were placed primarily direct (79%) onto sites like huffingtonpost.com, money.cnn.com, youtube.com, hgtv.com and aol.com.
From H1 2017 to H1 2018, search decreased from $910,097 to $521,196, out-of-home decreased from $757,497 to $487,360, print decreased from $18.1 million to $1.4 million and radio increased from $6.4 million to $6.5 million. From 2016 to 2017, those respective mediums decreased from $2 million to $1.3 million, $2.6 million to $1.5 million, $29.3 million to $19 million and $13.1 million to $13.1 million.
Agency & martech readers -- creative is out of FleishmanHillard handles public relations. All of these relationships are past average agency tenure (3 to 4 years) and the aforementioned new personnel will likely influence relationships, so make sure you're reaching out for potential work. Focus on helping Sleep Number stay of top-of-mind amid competition by leveraging their smart beds (they are the only luxury bed brand to offer smart features).