Millennial Digital Opps: Beyond Meat hires marketing DM amid YTD spend declines (Score 58)
Sales lead: This hire will directly impact the company's marketing strategy & agency roster. 
- Beyond Meat (BM) hired Akerho Oghoghomeh as SVP & global marketing head in February 2023.
- Oghoghomeh joins from Red Bull, where he served as brand marketing SVP.
- He now leads all of BM's marketing initiatives.
Target demographic: Millennials
The company will likely:
- Review the agency roster/seek additional assistance
- Experiment with new ad channels
- Ramp digital spend back up
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: BM spent around $263.7k on digital display ads YTD, just 38% of the $688.5k spent in this channel during the same time period of 2022.
- YTD data: 26.9m impressions via YouTube (49%), Instagram (27%), and Facebook (24%).
- 2021-2022 spend: Full-year spend skyrocketed from $1.6m in 2021 to $8.9m in 2022.
- Ad location: It placed 100% of these ads directly onto youtube.com, instagram.com, and facebook.com.
Additional channel insights
- Vivvix: BM also invests in OOH and print.
Agency analysis:
- Opportunity: Start reaching out to the new marketing DM to see if you can pick up some of BM's business.
- Current roster:
- Known: media & creative AOR
Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.
