Female Gen-Z, Millennial Opps: Etsy launches campaign amid significant spend increases
Etsy's new Olympics ad cleverly compares artists' lonely paths to athletes' struggles, speaking to both of these interests for viewers. Both artists and athletes "strive for excellence" and "look to make a name for themselves." Created by 72andSunny NY, the ads will air until early August on all NBC properties, including mobile and digital. Sellers able to offer relevant ad space should get in touch soon to secure last-minute ad dollars.
YTD, iSpot reports Etsy has spent approximately $22.5m on national TV commercials, up 7% from the approximately $21m it had spent by this point last year. The company ended up spending approximately $82.6m on this channel last year, more than triple the approximately $26.3m it spent in 2019. Etsy's 2021 commercials have targeted millennials watching shows such as NFL Football, Law & Order: Special Victims Unit, Below Deck, Love It or List It and Rizzoli & Isles.
According to Pathmatics, the company has allocated roughly $16.3m toward digital ads so far this year, over triple the roughly $5.3m it allocated within the same 2020 timeframe. Etsy's estimated full-year 2020 spend of $28.2m more than doubled that of $11m in 2019. It has earned around 2.2b digital impressions YTD via Instagram (69%), Facebook (21%), desktop video (7%) and desktop display (3%) ads.
Additionally, Magellan reveals Etsy has aired 281 podcast ads within the past 12 months.
These increases in spend should continue considering the high ROI the company is experiencing from its current TV and digital efforts. It tends to target Gen-Z and millennials, especially women. I've also noticed OTT ads for Etsy, specifically on Hulu. The company especially targets small businesses and artists. Per Kantar data, Etsy additionally invests in local broadcast.
Agency & martech readers - This is the first campaign we know of that has been made for Etsy by an outside agency, though, so if 72andSunny is Etsy's new creative AOR, you'd have a shot at media, PR and/or digital analytics work. We will let you know what we learn.