Digital B2B Opps: SurveyMonkey hires marketing chief amid spend increases (Score 50)

Sales lead: Contact the new CMO for more information about his future plans. 

• SurveyMonkey tapped Amit Prakash as CMO, effective September 2023.
• Prakash joins from Cloudflare, where he served as global growth marketing head.
• As CMO, Prakash is responsible for growth marketing and improving the customer experience.

Target demographic: Businesses

The company will likely:

• Keep increasing digital spend
• Try new ad channels
• Review the agency roster

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

• YTD spend: SurveyMonkey spent about $5.6m on digital display ads YTD, a slight (6%) increase from $5.3m spent in this channel during the same time period of 2022. 
• YTD data: 727.2m impressions via desktop display (36%), Facebook (15%), mobile display (14%), YouTube (14%), Instagram.com, and Twitter (6%). 
• 2021-2022 spend: Full-year spend increased by 29% from $5.6m in 2021 to $7.2m in 2022. 
• Ad location: It placed 97% of these ads directly onto sites such as facebook.com, youtube.com, instagram.com, thekitchn.com, and apartmenttherapy.com. It placed 3% of these ads through multiple indirect channels onto sites such as politico.com, aol.com, yahoo.com, cnn.com, and cbsnews.com. 

Additional channel insights  

• Top podcasts sponsored: The Ramsey Show, Stuff To Blow Your Mind, The Bill Simmons Podcast, and Freakonomics Radio.

Agency analysis:

• Opportunity: CMO hires are the number one sign of upcoming agency reviews, so get in touch now to be top-of-mind. 
• Current roster:
  • PMG: media & creative AOR
  • DDB San Francisco: creative