B2B, Millennial, Gen-X Opps: Chubb taps new chief communications officer & SVP (Score 62)
Chubb named Cheryl Krauss as SVP and chief communications officer, effective June 2022. Krauss joined from Barings, where she was also the chief communications officer. Now, she will lead Chubb's global corporate communications and marketing functions. Krauss succeeds Patrick McGovern, the company's former SVP, who will assume an interim position providing executive communications and speechwriting services to the CEO. Krauss's appointment will affect Chubb's marketing strategy in ways that could lead to spend increases and/or agency reviews.
Krauss isn't the company's only recent hire; effective May 2022, Randy McKelvey joined Chubb as SVP and head of global media.
According to iSpot, the company has spent approximately $30.4k on national TV commercials YTD, down 9% from the approximately $33.3k spent within the same 2021 timeframe. Chubb ended up spending approximately $55.6k on this channel last year, up 26% from the approximately $44.1k spent in 2020. The company's 2022 commercials have targeted male sports enthusiasts watching PGA Tour Champions Golf, 2022 Regions Tradition, Chronicles of a Champion Golfer and PGA Tour Golf.
So far this year, Pathmatics reports Chubb has allocated roughly $771.4k on digital ads, down 21% from the roughly $978.9k allocated by this point last year. The company's estimated full-year 2021 spend jumped 50% to $2.1m from that of $1.4m in 2020. Chubb has earned around 91m digital impressions YTD via Facebook (92%) and Instagram (8%) ads.
The company tends to target businesses, individual consumers and parents. As far as consumers are concerned, it seems to be primarily targeting millennials and Gen-X. Its TV commercials target male audiences in particular. Per Kantar data, Chubb also invests in OOH. Spend will hopefully pick back up now that a new CMO is in charge of the company's budget.
Agency & martech readers - As I briefly mentioned, this appointment could also lead to agency reviews; get in touch sooner rather than later to be top-of-mind. Chubb awarded digital and media duties to Kepler Group in 2019.