BFY Opps: Sweetgreen loses CMO amid spend increase (Score 74)

Sales Lead: Sweetgreen will part ways with CMO Daniel Schlossman on May 19.

• He joined the company in March 2018 and was promoted to CMO in August 2022.
• Schlossman is now the chief marketing and growth officer at restaurant delivery service Wonder.
• Nathaniel Ru, the company's co-founder and CBO, Nathaniel Ru, will succeed Schlossman.
• The company will likely:
  • Shift strategy
  • Launch promotional material supporting its new product and loyalty program 
  • Keep increasing spend
  • Seek new agency partners
• Target demographic: 
  • ​​​​​​​Better-for-you (BFY) Gen-Z and millennials

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: Sweetgreen has spent roughly $1.8m on digital ads YTD, 64% more than the roughly $1.1m spent by this point last year.
  • YTD data: So far in 2023, the company has earned around 241.6m digital impressions via Instagram (48%), Facebook (42%), YouTube (7%), and desktop display (4%) ads.
  • Last year: Sweetgreen's approximate full-year 2022 spend of $3.4m reached 6% more than $3.2m in 2021.
• Additional channel insights  
  • The company utilizes Google Ads, TikTok, and online video (primarily Youtube.com and Youtube IOS).

Additional agency insights:

• Opportunity: Get in touch soon to see if any agency reviews follow this leadership shift.
• Current agency roster:
  • ​​​​​​​​​​​​​​​​​​​​​No current agency relationships confirmed

Insight Sources: Digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.