Sloane & Company | Agency Profile, Contacts, AOR, Client Relationships
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Sloane & Company Contacts
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| Darren B. | Co-Chief Executive Officer & Managing Director | NY | ||||||||||||
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| Whit C. | Co-Chief Executive Officer | NY | ||||||||||||
| Ellen S. | Senior Director, Project Management Office | NY | ||||||||||||
| John H. | Senior Managing Director | NY | ||||||||||||
| Mike B. | Managing Director | NY | ||||||||||||
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Millennial Experiential Opps: Panera teams up with NTWRK on Day of Craveable Drops
Update: Panera Bread is shaking up its strategy even more with a new partnership with NTWRK. The two companies are teaming up with a first-of-its-kind Day of Craveable Drops; for one full day, the livestream shopping platform will feature eight of the most craveable products from the most craveable creators (including, of course, Panera). It will be hosted by rapper, producer and TV personality T-Pain and will celebrate Panera's new chef's chicken sandwiches. This is one of Panera's first forays into the world of consumer goods like the ones offered in the Craveable Drops. We will likely see promotional activity for the launch, as well as future, similar experiential initiatives, so keep the company on your radar.
Right now, Panera is targeting millennials via national TV, digital, paid social, OOH and local broadcast. Read more details about the company's recent spend in the article below.
Agency & martech readers - This new development doesn't lead me to believe Panera will conduct agency reviews anytime soon, but keep it on your radar for project-based work in the future. The company named Spark Foundry.
The article below was originally published on April 21:
Panera Bread recently launched a first-of-a-kind subscription, the Unlimited Sip Club, through which customers can access unlimited self-serve beverages. The company already had a similar setup for coffee.
To get the word out, Panera teamed up with T-Pain on a limited-edition gold-plated chalice. Designed by celebrity jeweler Greg Yuna exclusively for NTWRK, the chalice is valued at $3k. T-Pain is giving away free 3-month memberships to the Sip Club to the first 1k people who sign up to win the chalice. Keep Panera on your radar in case it releases promotional material around this new program.
So far this year, iSpot reports the restaurant chain has allocated roughly $11m toward national TV commercials, down 25% from the roughly $14.7m it had allocated by this point last year. Panera ended up allocating roughly $14.3m toward this channel last year, down 9% from the roughly $15.7m it allocated in 2020. The company's 2022 commercials have targeted millennials and Gen-X watching shows such as NFL Football, American Idol, SportsCenter, Jimmy Kimmel Live and Family Feud.
Per Pathmatics, Panera has spent approximately $9.7m on digital ads YTD, more than double the approximately $4.5m it spent within the same 2021 timeframe. The company's estimated full-year 2021 spend jumped 37% to $37.8m from that of $27.6m in 2020. Since the beginning of 2022, Panera has earned ~1.1b digital impressions via Facebook (53%), Instagram (39%) and desktop video (8%) ads.
As you can tell, TV spend is dropping while TV spend rises; this leads me to believe the company is starting to target millennials more than Gen-X, which means we'll likely see more digital channel usage in the coming months. According to Kantar data, Panera also invests in OOH and local broadcast. Sellers able to offer relevant ad space should get in touch soon to do so.
Agency & martech readers - I see no glaring signs right now of imminent agency reviews, but keep the company on your radar for future project-based work. Spark Foundry assists with media buying and planning.