Gen-X, Millennial Digital Opps: Mr. Cooper taps CMO amid spend declines (Score 49)
Sales lead: Contact the new CMO now for more information about his plans. .png)
- Mr. Cooper (MC) appointed Chris Moloney as CMO & SVP, effective May 2023.
- Moloney brings extensive CMO experience having held the role at TD Ameritrade, Experian, Wells Fargo Advisors, CAN Capital, TaxSlayer, and Brinks Home.
- Most recently, Moloney was the chief marketing & strategy officer of Chameleon Collective.
- He is now responsible for all of MC's marketing operations.
Target demographic: Millennials & Gen-Xers
The company will likely:
- Ramp ad spend back up
- Experiment with new ad channels
- Outsource some marketing duties to agency partners
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: MC spent just $2.9k on digital display ads YTD, down from $62.9k spent in this channel during the same time period of 2022.
- 2021-2022 spend: Full-year spend dropped from $355k in 2021 to $80.3k in 2022.
- 2022 data: 10m impressions via Facebook (81%), Instagram (18%), and desktop display (1%).
- Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, textnow.com, and yahoo.com.
Agency analysis:
- Opportunity: CMO hires are the number one sign of upcoming agency appointments, so reach out now to be top-of-mind.
- MC does not currently work with any agencies to the best of my knowledge.
Insight Sources: Digital spend insights estimated by Pathmatics.
