Momvertising Opps: Target taps chief digital, product officer (Score 52)
Sales lead: This hire could lead to digital spend increases and agency reviews.
- Target named Prat Vemana chief digital/product officer, effective October 31st, 2022.
- He will report to EVP & chief guest experience officer Cara Sylvester.
- Vermana most recently served as SVP & CDO of Kaiser Permanente.
- He will be responsible for site merchandising, user experience, digital operations, & Target+.
- We told you about Target promoting Cara Sylvester from chief marketing/digital officer to EVP & chief guest experience officer in May.
- I am not sure if the company plans on filling the CMO vacancy, but we will let you know as soon as any news is made public.
Target's target demographic: Millennial women (moms)
The company will likely:
- Ramp digital spend back up
- Focus on promoting Target+
- Review digital agency partners
Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- YTD spend: Target spent around $126.7m on national TV ads YTD, a slight (2%) increase from $124.1m spent in this channel during the same time period of 2021.
- Last year: Full-year spend equaled $238.6m in 2020 and $237m in 2021.
- 2022 ad programming: It placed ads during programming such as NFL Football, NBA Basketball, Good Morning America, College Basketball, and Today.
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: Target spent close to $116.5m on digital display ads YTD, just 56% of the $207.9m spent in this channel during the same time period of 2021.
- YTD data: 13b impressions via Facebook (34%), desktop video (25%), Instagram (22%), desktop display (10%), mobile video (4%), mobile display (3%), and Twitter (1%).
- Last year: Full-year spend jumped from $129.6m in 2020 to $276.8m in 2021.
- Ad location: It placed 97% of these ads directly onto sites such as facebook.com, youtube.com, instagram.com, twitter.com, and clickhole.com. It placed 3% of these ads through multiple indirect channels onto sites such as youtube.com, yahoo.com, buzzfeed.com, fandom.com, and nytimes.com.
Additional channel insights
- Target also invests in OOH, print, radio, & local broadcast.
- Opportunity: The chief digital & product officer hire may lead to digital reviews.
- Current roster: