Female Gen-X, Millennial Media Opps: La-Z-Boy announces agency partner for rebranding project (Score 26)

Sales lead: Reach out now to offer ad space or if you can help with the rebranding project. 

• La-Z-Boy appointed Colle McVoy as its new agency partner in June 2023.
• The agency will handle strategy, design, PR, & influencer marketing.
• It is also leading a rebranding project for La-Z-Boy.
• The company plans to unveil its new look in August, which may include a new logo and new products.

Target demographic: Gen-X & Millennials with a female skew

The company will likely:

• Partner with influencers
• Keep ramping up digital spend
• Launch an ad campaign to promote the rebrand
• Seek new agency partners

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

• YTD spend: La-Z-Boy spent about $4.4m on national TV ads YTD, a 10% decrease from $4.9m spent in this channel during the same time period of 2022.  
• 2021-2022 spend: Full-year spend decreased by 20% from $17.8m in 2021 to $14.2m in 2022. 
• Ad programming: It placed ads during programming such as The View, The Price Is Right, General Hospital, GMA3: What You Need to Know, and My Lottery Dream Home. 

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

• YTD spend: La-Z-Boy spent nearly $1.4m on digital display ads YTD, a significant increase from $560.9k spent in this channel during the same time period of 2022. 
• YTD data: 142.2m impressions via Facebook (38%), YouTube (30%), desktop video (13%), Instagram (9%), desktop display (7%), and mobile display (2%). 
• 2021-2022 spend: Full-year spend increased by 24% from $1.7m in 2021 to $2.1m in 2022. 
• Ad location: It placed 88% of these ads directly onto sites such as facebook.com, youtube.com, instagram.com, abcactionnews.com, and twitch.tv. It placed 12% of these ads indirectly through AppNexus and Quantcast onto sites such as listenonrepeat.com, redfin.com, abcactionnews.com, doityourself.com, and yahoo.com. 

Additional channel insights  

• Vivvix: La-Z-Boy also invests in OOH, print, radio, and local broadcast.  
  • It holds media planning discussions in Q1, and it buys during Q4. 

Agency analysis:

• Opportunity: Get in touch now to see if La-Z-Boy is looking for any more help with the rebrand. 
• Current roster:
  • RPA: creative & media AOR
  • Zimmerman Advertising: media & digital
  • Colle McVoy: creative & PR

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.