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Score 58 - Close Watch: Spence Diamonds promotes CMO to CEO, names PR AOR

said he would focus on educating consumers about lab-grown diamonds.

A replacement CMO has not been named, but we imagine Spence will hire one quickly to fill its marketing void. Spence also saw the departure of COO & CFO Faheem Gwadry (April), marketing manager Marina Tostes (March) and marketing & digital director Jason Wong (January).

Agency & martech readers -- since Spence will likely quickly fill the CMO vacancy, and CMOs hire are the number one harbinger of agency reviews, reach out to be top-of-mind. You'll have to focus on creative and/or media work, however, since PR is off the table. 

In February, Spence hired reportedly oversee all brand PR and influencer strategy in the US and Canada. It will also assist Spence with its growth.

The majority of Spence's growth comes from an expanding retail presence. After the successful launch of two stores in Dallas-Fort Worth late last year, Spence opened an additional three concept stores. If the three stores do as well as the first two, additional new locations will be opened either later this year or during 2020.

Keep in mind that the new stores had an "edgier attitude" to attract modern audiences and corresponds with Spence's "new digital presence." These efforts were spearheaded by digital agency Reflect and creative agency GoDo Discovery.

We know Reflect was hired just for the one project, but we have not yet confirmed the nature of GoDo's relationship with Spence. We believe it is project-based since Spence typically hires creative agencies for project-based work (it Crossmedia, which Spence hired last year to assist with paid media, is on the account on a per-project basis or as AOR.

Sellers -- since additional expansion is likely, reach out for revenue. Spence doesn't have a top spending period, instead spending highly throughout the year. It targets millennials given its sustainable focus (locations throughout Canada and the US.

Adbeat reports digital display over the last 12 months has totaled $4.6k and been placed via Google Search Partners (70%) and RocketFuel (32%) onto sites like ebay.com, jcpenney.com, topix.com, overstock.com and sears.com. Ads over the last 24 months have totaled $8.7k and been placed via Google (46%), Google Search Partners (38%) and RocketFuel (87%) onto sites like twentytwowords.com, ebay.com, jcpenney.com, topix.com and opposingviews.com.

The retailer has also been known to use partnerships, having partnered with D Magazine to support the launch of its new Plano location.

Note: Spence Diamonds is headquartered in Canada, so you might want to familiarize yourself with its Anti-Spam Law (CASL) before reaching out.