Female Gen-X, Millennial Opps: Coravin loses marketing head amid spend declines (Score 32)
Sales lead: Keep an eye on this company so that you can reach out as soon as it finds a new marketing head.
- Coravin's CMO, Leena Utsch, is out after nearly two years leading marketing for the company.
- Utsch is now the CMO of Canyon Ranch.
- We will be sure to update you as soon as a replacement is announced.
Target demographic: Gen-X & millennial women
Once it hires a new CMO, the company will likely:
- Return to higher ad spending levels
- Shift ad dollars around to find optimal ROI
- Review its current agency roster/hire additional assistance
Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- Spend: Coravin has not allocated any budget toward national TV ads since spending $1.8m in 2021.
- Ad programming: It placed ads during programming such as NBA Basketball, Diners, Drive-Ins and Dives, Guy's Grocery Games, A Kiss Before Christmas, and The Real Housewives of Orange County.
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: Coravin spent about $48.2k on digital display ads YTD, just 57% of the $84.1k spent in this channel during the same time period of 2022.
- YTD data: 6.2m impressions via Facebook (82%), Instagram (14%), and YouTube (4%).
- 2021-2022 spend: Full-year spend dropped by 32% from $240.7k in 2021 to $163.1k in 2022.
- Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, and youtube.com.
Additional channel insights
- Top podcasts sponsored: The Indicator from Planet Money, StarTalk Radio, True Crime Garage, and And That's Why We Drink.
Agency analysis:
- Opportunity: You will have a shot to pick up some of this company's business as soon as it names a new top marketer.
- Current roster:
- Giant Spoon: creative AOR
Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; podcast data estimated by Podchaser.