Millennial, Gen-X Opps: UMB Bank taps CMO as digital spend spikes (Score 56)

Sales Lead: Liz Lewis became the CMO at UMB Bank in May 2023.

• She was previously the commercial and retail banking SVP at CommunityAmerica Credit Union.
• Lewis succeeds Heather Miller, who retired the same month after almost six years as UMB's CMO.
• The company will likely:
  • Implement strategy shifts, especially considering how long it's been since UMB had someone new to work with its marketing.
  • Continue increasing spend
  • Seek new agency partners
• Target demographic: 
  • Millennials and Gen-X

Additional spending insights:

• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: So far this year, UMB has spent approximately $157.8k on digital ads, more than triple the approximately $51.8k spent within the same 2022 timeframe.
  • YTD data: The bank has earned around 16.3m digital impressions YTD, 80% via desktop display ads and 20% via mobile display ads.
    • Top site destinations for this year's ads include espn.com (14%), nytimes.com, sports.yahoo.com, cnn.com, and money.cnn.com.
  • Last year: In 2022, UMB spent roughly $138.7k on this channel, less than half of the roughly $404.2k spent in 2021.
• Additional channel insights  
  • The company utilizes Google Ads and cause marketing along with OOH, digital, local broadcast, and print (newspaper) ads.
  • UMB also advertises locally in the MW.

Additional agency insights:

• Opportunity: Reach out soon in case agency reviews follow this CMO hire.
  • ​​​​​​​You may especially benefit from offering PR, creative, digital analytics, social media management, multicultural, experiential, and/or influencer services since UMB doesn't seem to currently outsource these things.
• Current agency roster:
  • Barkley​​​​​​​: Media AOR

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