Female Media Update Opps: Victoria's Secret announces new CMO (Score 85)
Update: Victoria's Secret (VS) announced Martha Pease is taking over as CMO, effective January 2021. Pease 
most recently served as a partner with Boston Consulting Group. Pease will be tasked with running the marketing strategy, customer insight, improving digital marketing and incorporating data analytics. She will also be responsible for assuring the Lingerie, Beauty and Pink divisions maintain consistent marketing messaging. Pease will report to Martin Waters, CEO of parent company L Brands. This hire will likely lead to changes to the marketing strategy and possible agency reviews.
**We are unable to confirm Pease's new email address at this time. Please contact other DMs for the time being.**
Please refer to the article below for additional spend and targeting information,.
Agency & martech readers-- As you know, new CMOs commonly conduct agency rosters as well as outsource some duties to additional shops. I recommend you begin reaching out in order to be top-of-mind when Pease takes over next year. You will face competition from Digitas (online media & social), Initiative (TV media) and Publicis.Sapient.
The article below was originally published on December 1:
Victoria's Secret (VS) named Ishan Patel digital COO in August 2020. Patel most recently served as chief operating officer of VS's parent company L Brands. Prior to that, he served as VS's digital EVP, so he should be well acquainted with the brand. This will likely lead to changes to VS's digital marketing strategy as well as possible agency reviews. It also recently named L Brands' international CEO Martin Waters as CEO of VS.
According to iSpot's estimates, VS only spent around $2.8k on national TV ads YTD during programming such as "Premier League Goals of the Season," "NHL Hockey," "Vintage Games," "La historia de los Mundiales" and "Passport to the Palm Beaches." The company decreased TV spend significantly in 2020 considering full-year spend equaled $15.1m in 2019 and $33.6m in 2018.
Per Pathmatics, VS earned 1.7b impressions through Facebook ads (56%), Instagram ads (37%), desktop video ads (4%) and desktop display ads (3%). It placed the majority of these ads site direct (99%) onto sites such as facebook.com, instagram.com, youtube.com, glamour.com and teenvogue.com. It placed the remainder through Google AdX + AdSense onto sites such as youtube.com, zillow.com, yahoo.com, spotify.com and spoonuniversity.com. It spent around $13.2m on digital display ads over the last 365 days, a slight (7%) decrease from $14.1m spent in this channel over the 365 days prior.
Sellers-- VS seems to mainly targets Gen-Z and millennial women with a Hispanic skew. It reaches these demographics primarily through digital display ads.It will likely return funds to some funds to TV ads, although I do not expect it will ever spend as much in this channel as it did in the past, as VS has been decreasing TV spend over the past several years. It also invests in print ads, per Kantar. Sellers should be on the lookout for extra holiday ad dollars throughout the remainder of Q4.
Agency & martech readers-- To the best of our knowledge, VS currently works with Digitas on online media and social, Initiative on TV media and Publicis.Sapient on digital. I recommend reaching out offering digital assistance to the new digital COO for the best chance of winning some of this company's work.
