Experiential Opps: Porsche to open the first Porsche Studio in the US

Sales Lead: Porsche has started ramping up experiential efforts to promote its first US Porsche Studio, which will open soon in Portland.

• The company's festivities involved the rock band Foreigner performing at the studio.
• The new studio operates similarly to a boutique; it includes a bar, lounge, local art, configuration space, and room to drop off and pick up one's vehicle.
• The studio also offers test drives, courtesy vehicles, and rideshare transportation options.
• Porsche will continue hosting local events and activities such as yoga days and wellness weeks.
• The company will likely:
  • Continue shifting more toward experiential marketing
  • Keep increasing digital spend
  • Seek new agency partners
• Target demographic: 
  • Gen-Z and millennials with a strong male skew

Recent leadership shifts:

• This announcement closely follows the October 2022 appointment of customer experience VP Lea Anderson.
  • Though she doesn't directly work with marketing, Porsche will likely continue shifting its experiential strategy under her leadership.

Additional spending insights:

• Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
  • YTD spend: Porsche has spent approximately $60.2k on national TV commercials YTD, only about half of the approximately $1.2m spent by this point last year.
  • Last year: The company spent around $1.3m on this channel in 2022 after having spent more than double this, around $3.3m, in 2021.
  • 2023 ad programming: Porsche's 2023 commercials have targeted millennials watching shows and movies such as the ISMA Weathertech Sportscar Championship, Wicked Tuna, The Great Food Truck Race, First Alaskans, and Harry Potter and the Prisoner of Azkaban.
• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: Since the beginning of 2023, the company has allocated roughly $3.3m toward digital ads, almost 5x the roughly $719k allocated within the same timeframe last year.
  • YTD data: Porsche has earned ~398.3m digital impressions YTD via Instagram (57%), Facebook (20%), YouTube (13%), desktop display (9%), and mobile display (1%) ads.
  • Last year: The automaker's estimated full-year 2022 spend decreased by 39% to $6.6m from that of $10.8m in 2021.
• Additional channel insights  
  • Porsche utilizes Google Ads along with print, radio, OOH, local broadcast, digital, Facebook, Instagram, TikTok, Twitter, and online video (via Youtube.com, Youtube IOS, and Youtube Android) ads.
  • ​​​​​​​The company sponsors podcasts such as No Agenda, the Monday Morning Podcast, Marketplace All-in-One, the History Extra podcast, and Football Weekly.

Additional agency insights:

• Opportunity: Get in touch to see if Porsche needs additional agency assistance as it continues shifting its strategy.
• Current agency roster:
  • Cramer-Krasselt ​​​​​​​: Creative and media AOR
  • PHD: Media AOR
  • Solve: Creative agency partner

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