Millennial Digital Opps: DripDrop Hydration hires CMO amid YTD spend increases (Score 52)

Sales lead: This hire will affect the company's marketing strategy & could lead to agency appointments. 

• DripDrop Hydration appointed John Shea as CMO, effective July 2023.
• Shea brings CMO experience from his time at Jimmy John's, and most recently, Mark Anthony Group.
• He now leads all of DripDrop's marketing operations.

Target demographic: Millennials

The company will likely:

• Continue ramping up digital spend
• Diversify digital ad placement
• Seek agency assistance

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

• YTD spend: DripDrop spent about $768.1k on digital display ads YTD, a significant increase from $220.3k spent in this channel during the same time period of 2022.
• YTD data: 106.8m impressions via Facebook (83%) and Instagram (17%). 
• 2021-2022 spend: Full-year spend equaled $1.1m in 2021 and $1.3m in 2022. 
• Ad location: It placed 100% of these ads directly onto facebook.com and instagram.com. 

Agency analysis:

• Opportunity: Start reaching out to the new CMO now to be top-of-mind.
  • We have not confirmed any current agency relationships for this company.

Insight Sources: Digital spend insights estimated by Pathmatics.