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|******** ******** ****||Public Relations||2019||present||*******|
Score 77 - Account in Jeopardy: Tropical Smoothie Cafe names new CMO, CDO amid digital display ad spend increase
Update: Shortly after naming a new PR AOR (more below), Floor Coverings International, where he drove brand transformation. He will now lead TCS's vision, per Yahoo Finance, to drive process change and accelerate business performance. Rob Collins, incumbent CMO since 2017, has not yet announced next steps.
CDO Michael Lapid joins from Papa John's, where he most recently served as global digital tech VP from 2017-2019. His expertise with digital and e-Commerce will serve him well in this new role, considering that it's starting to age-down its desired audience.
These hires will strengthen TCS's aggressive growth plans. It currently operates 825 locations statewide, with 58 new openings during H1 2019 in "priority markets" like Dallas-Fort Worth, Houston, Chicago, Florida and Atlanta. It recently reported record YTD revenue growth, per Market Insider. The more the company grows, and the more DMs it adds, the more spending dollars it will have at its disposal for you, sellers.
Digital display ad spend spiked in September, as we Adbeat reports that TCS has spent $162,700 on these ads, placed primarily via Tapad ($51,600) and AppNexus ($47,900). Top site destinations have included espn.com ($24,800), liftable.com and westernjournalism.com. This amount reflects a 377% increase from the $34,100 spent from Oct 2017-2018.
TCS is shifting dollars from TV toward digital and will continue doing so; you may see increased digital spending over the next year or so. Its spend often, per Kantar, spikes during H1, so sellers should reach out soon to secure a portion of its H1 advertising budget. TCS also uses OOH and cause marketing but stopped investing in print and radio in Q1 2019. Its increased digital efforts are likely a signal that it's targeting more app-savvy millennials.
Agency & martech readers - considering that newly-hired DMs often conduct agency reviews, reach out soon to see what work you can secure. earlier this year (more below).
Below was originally published on Aug 28:
Atlanta-based opened 58 restaurants during H1 2019 due to targeted efforts in priority markets like Dallas-Fort Worth, Houston, Chicago and Atlanta. Brandience's additional clients include firing systems company Cobra.
According to iSpot, TSC hasn't allocated budget towards national TV commercials since it spent $21,963 in late 2015. It seems to be shifting spend towards digital channels instead.
During the past 12 months, Adbeat reports that TSC has spent $59,400 on digital display ads placed primarily programmatically (93%) through Tapad ($24,600) and AppNexus ($12,300). Tapad has placed the ads on top sites including littlethings.com, boingboing.net, washingtonpost.com, rare.us and shareably.net. Throughout the prior 12-month period (Aug 2017-2018), TSC's spend totaled $36,500; we expect spend to continue increasing.
Per Kantar, the chain's spend often spikes during H1. It also invests in OOH and broadcast, but seems to have pulled out of print and radio this year. TSC invests in cause marketing, having raised nearly $7.5 million for Camp Sunshine over the years.
Agency & martech readers - while agency reviews often follow one another, TSC's work seems to be tied up for now. Prospect elsewhere.