B2B, BFY Opps: Miyoko's Creamery taps CEO with marketing background, surpasses FY 2022 digital spend (Score 32)

Sales Lead: Stuart Kronauge, a seasoned marketer, recently joined Miyoko's Creamery as its CEO.

• Kronauge was most recently the CEO at The Juice+ Company and, before that, the CMO at Beyond Meat.
  • She has also served in several marketing roles at Coca-Cola.
  • At Miyoko's, Kronauge succeeds former CFO and interim president Jon Blair.
• The company will likely:
  • Implement strategy shifts
  • Continue increasing spend
  • Conduct agency reviews
• Target demographic: 
  • B2C: Better-for-you (BFY) millennials and Gen-X (via retailers and delivery services)
  • B2B: DMs at businesses that serve food and beverages such as wineries, retailers, and restaurants

Additional spending insights:

• Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
  • YTD spend: Miyoko's made its first foray into national TV earlier in 2023 and has since spent approximately $130 on commercials. 
  • 2023 ad programming: Its 2023 commercials have targeted viewers of WWE Friday Night SmackDown and Live to Farm.
• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: The company has allocated roughly $96.8k toward digital ads YTD, already 2% more than the roughly $94.5k spent in all of 2022.
  • YTD data: So far this year, Miyoko's has earned ~8.3m digital impressions via desktop display (84%), mobile display (11%), and Instagram (5%) ads.
    • ​​​​​​​The company has placed this year's desktop display ads site direct onto mindbodygreen.com (95%) and brit.co.
  • Last year: In 2022, Miyokko's estimated full-year spend nearly doubled to $94.5k from that of $55.7k in 2021.​​​​​​​​​​​​​​​​​​​
• Additional channel insights  
  • The company invests in experiential activations.

Additional agency insights:

• Opportunity: CEO hires don't always lead to agency reviews, but reach out anyway since Kronauge's marketing background makes his hire a potential exception.
• Current agency roster:
  • ​​​​​​​Konnect Agency: PR agency partner

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