Millennial, Gen-X Opps: LG Electronics rebrands, launches campaign (Score 37)

Sales Lead: LG Electronics recently rolled out a new brand identity with a new campaign.

• Made by Wolff Olins, the campaign is titled "Life's Good" and features digital OOH ads at key sites nationwide.
• The ads involve a new shade of red across all platforms and newly created characters developed by the agency.
• They feature Australian singer, actor, and swimmer Cody Simpson, as you can tell from the video above.
• The company will likely:
  • Roll out additional new work
  • Seek other influencer partnerships
  • Ramp up spend
  • Seek new agency partners
• Target demographic: 
  • ​​​​​​​Millennials and Gen-X

Additional spending insights:

• Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
  • YTD spend: So far this year, LG has spent approximately $14.1k on national TV commercials, 34% more than the approximately $10.5m spent within the same 2022 timeframe.
  • Last year: The company spent around $17.1m on this channel last year after spending 32% more, around $22.5m, in 2021.
  • 2023 ad programming: The company's 2023 commercials have targeted male golf enthusiasts watching shows such as the 2023 Evian Championship, PGA Tour Golf, the 2023 Open Championship, the Golf Central Pregame, and the 2023 Senior Open Championship.
• Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
  • YTD spend: The electronics brand has allocated roughly $6.2m toward digital ads YTD, less than half of the roughly $15.2m allocated by this point last year.
  • YTD data: Since the beginning of 2023, LG has earned ~872m digital impressions via Facebook (55%), Instagram (20%), YouTube (13%), desktop display (5%), Twitter (2%), mobile display (2%), and desktop video (1%) ads.
  • Last year: The company's estimated full-year 2022 spend of $23m decreased by 7% from that of $24.8m in 2021.
• Additional channel insights  
  • The company utilizes Google Ads along with print, digital, local broadcast, OOH, radio, Facebook, Instagram, Twitter, and online video (primarily via Youtube.com) ads.
  • LG sponsors podcasts such as Fundamental Health with Paul Saladino, MD, VOA Learning English

Additional agency insights:

• Opportunity: Wolff Olins seems to be a relatively new agency partner, so since LG may seek additional agency partners to fuel awareness of its new brand identity, reach out soon to remain top-of-mind.
• Current agency roster:
  • ​​​​​​​Wolff Olins: Creative agency partner (at least for this campaign project)
  • Hill Holliday: Digital, social, and creative AOR
  • iCrossing: Digital and social AOR
  • Buntin Group: Creative and media agency partner
  • HS Ad: Creative agency partner
  • VMLY&R: Creative agency partner
  • 72andSunny: Creative agency partner
  • PHD USA: Media 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.