BFY Digital Opps: Banza increases ad spend after tapping PR AOR (Score 25)

Over the months since appointing PR AOR Confidant, Banza has increased its digital spend tremendously. I expect the company's spend to continue rising throughout the year since its products are so popular.

Additionally, earlier in July 2021, Banza hired a new brand management director, Anisa Moolani. Adding to their marketing teams often mean companies are focusing more on advertising efforts, which also signals increases in spend.

So far this year, Pathmatics reports Banza has spent roughly $2.4m on digital ads, already more than double the roughly $1.1m it spent in all of 2020. The company's estimated full-year spend in 2020 ($1.1m) spiked from that of $85.7k in 2019. Banza has earned around 265.4m digital impressions YTD via Instagram (72%), YouTube (25%) and Facebook (3%) ads. 

This chickpea-based food brand appeals especially to better-for-you (BFY) consumers and those with dietary restrictions. Its sharp increases in digital investment and reliance on Instagram, YouTube and Facebook advertising show that it's particularly targeting BFY Gen-Z. Banza may expand into additional digital channels such as OTT and.or podcast down the road in order to reach relatively young consumers even more effectively. According to Kantar data, the company used OOH in 2020 but didn't do so in Q1 2021; we will let you know if and when we have data regarding additional quarters' information.

Agency & martech readers - You may still have a shot at media and/or digital analytics work due to Banza's PR hire. If you haven't yet done so, I suggest you reach out soon. The company seems to handle creative in-house.