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:

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