Lemon Perfect hires marketing DM following funding round (Score 45)

Sales lead: The recent hire & new funding signal the company will increase ad spend & seek agency assistance. 

• Lemon Perfect (LP) named Dana Barba marketing SVP, effective May 2023.
• Barba spent the majority of her career at Coca-Cola.
• She most recently served as frontline marketing SVP of Coca-Cola's NA Operating Unit.
• LP does not appear to have a CMO, which makes Barba its top marketer. 

In other news: 

• LP secured $36.8m in a Series B funding round in February. 
• The company's total valuation is now $150m. 
• Goat Rodeo Capital Management led the round.

Target demographic: Gen-Zers & millennials

The company will likely:

• Ramp digital spend back up
• Outsource some marketing duties to agencies 
• Continue its fundraising efforts

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: LP spent $4.6k on digital display ads YTD, a significant decrease from $64.5k spent in this channel during the same time period of 2022. 
• YTD data: 681.7k impressions via Facebook (62%) and Instagram (38%). 
• 2021-2022 spend: Full-year spend fell by 30% from $194.3k in 2021 to $135.4k in 2022. 
• Ad location: It placed 100% of these ads directly onto facebook.com and instagram.com. 

Agency analysis:

• Opportunity: Reach out to the new marketing VP now to be top-of-mind.
  • LP is an emerging brand as it launched in 2017, so be sure to focus your pitches on how you can improve brand awareness.

Insight Sources: Digital spend insights estimated by Pathmatics.