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BFY Medical Opps: Kate Farms hires product & operations EVP amid digital display ad spend, funding round (Score 64)
Plant-based medical nutrition shake company Kate Farms (KF) named Christopher Bauer its first product and operations EVP; Bauer (shout out to my fellow 24 fans) formerly served as Nutrabolt's COO. Now, his responsibilities at KF will include product development and innovation.
KF also hired digital marketing and eCommerce director Macy McGinnes in January 2020; we have already seen an increased focus on digital channels under her leadership.
In April 2020, KF also landed a $23m Series A funding round, Crunchbase reports.
According to Adbeat's approximations, KF spent around $4.2k on digital display ads over the last 365 days, a 36% increase from $2.7k during the 365 days prior. It placed 88% of these ads programmatically through Google Display Network onto sites such as urbandictionary.com, shabdkosh.com, powerthesaurus.org, dictionary.com and allacronyms.com. It placed 12% of these ads site direct onto urbandictionary.com and wrestleview.com.
KF's business was reportedly not affected by the global pandemic; its products are available online anyway. Its target demographic consists of healthcare professionals and younger consumers with various dietary and medical needs. KF's plant-based shakes appeal to better-for-you (BFY) consumers; the company's increase in digital display ad spend leads us to believe it's especially targeting Gen-Z and millennials. Its kids products will especially appeal to parents. We expect Bauer's hire will lead to new product launches, so keep an eye out for accompanying ad initiatives.
Agency & martech readers - It certainly wouldn't hurt to reach out for potential work; KF works with most agencies on a project-by-project basis. Allison+Partners handles PR, and Hornall Anderson assisted with branding and package design.
Executive Vice President, Product & Operations
Chief Experience Officer
Marketing Director, Digital & eCommerce - Business Unit