Millennial Digital Opps: LendingHome announces new CMO amid spend increases (Score 61)

LendingHome hired Cherie Yu as its CMO earlier this year. Yu brings experience from her time as Lyft's local marketing head. It also brought in Shannon Raymer as marketing director from Imaginuity, where she served as account director. These hires signal LendingHome is committed to investing in marketing going forward. 

 According to Pathmatics, LendingHome earned 6.4m impressions YTD through Instagram ads (99%) and desktop display ads (1%). It placed the majority (99%) of these ads site direct onto and It placed the remainder (1%) indirectly through Google AdX+AdSense onto It spent around $49.2k on digital display ads YTD, a significant jump from $16.2k spent in this channel during the same time period of 2020. Full-year spend skyrocketed from $200 in 2019 to $203k in 2020. 

Sellers-- LendingHome primarily targets millennials, and possibly Gen-Zers, that need to take out loans. It currently invests the majority of its ad dollars into Instagram ads. The company started ramping spend up in 2020, and has continued investing more into marketing so far this year. I predict it will continue this trajectory as it builds brand awareness, especially with the new marketing hires. Sellers should reach out offering digital ad space. 

Agency & martech readers-- Our researchers are working to confirm any possible agency relationships this company may have. New CMOs are known to review their new company's agency roster, so start reaching out soon to be top-of-mind with Yu. I recommend offering PR and/or communication assistance, and to focus your pitches on helping LendingHome build brand awareness.