Digital Opps: Kate Farms loses CXO amid spend increases (Score 36)
Kate Farms (KF) lost its chief experience officer John Hommeyer in February 2021. Hommeyer spent about four years with KF and will now serve as CEO of Bitchin' Sauce; we believe he was KF's top marketer. In the same month, KF hired digital marketing manager Lauren Roche from Bond Fitness, where she served as director of operations. The company brought in $51m in late 2020 during a Series B funding round led by Goldman Sachs. It may use a portion of these funds to continue increasing marketing spend.
According to Pathmatics, KF earned 7.3m impressions through Facebook ads placed directly onto facebook.com. It spent around $54.4k in this channel YTD, a 75% increase from $13.7k spent during the same time period of 2020. Full-year spend jumped from $51.6k in 2019 to $175.3k in 2020.
Sellers-- KF targets a wide range of consumers, but seems to mainly targeting Gen-Z and millennials since it placed all of its digital ads directly onto Facebook. It also produces several products for children that will appeal to parents. KF should continue increasing ad spend, especially considering the recent digital marketing manager hire and Series B funding round. The company spent the majority of its ad dollars between June and August last year, so reach out for last-minute summer dollars if you can provide ad space.
Agency & martech readers-- Start preparing your pitches so you can reach out once this company finds a new CXO. We believe the only incumbent you will face is PR shop Allison+Partners. You also might have luck offering project-based work that will raise brand awareness.