Digital B2B Opps: Spring Health hires CMO amid YTD spend increases (Score 50)
Sales lead: This hire will affect the company's marketing strategy & may lead to agency appointments. 
- Spring Health (SH) named Joanna Lord CMO, effective September 2023.
- Lord brings extensive CMO experience having held the position at BigDoor, ClassPass, Skyscanner, and Reforge.
- She now leads all of SH's marketing operations.
In other news:
- SH completed a Series D Funding round worth $71m in April 2023.
- The company's valuation is now reportedly $2.5b.
Target demographic: Businesses seeking mental healthcare plans
The company will likely:
- Keep increasing digital spend
- Invest in additional ad channels
- Seek agency assistance
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: SH spent about $159.2k on digital display ads YTD, a significant increase from $68.1k spent in this channel during the same time period of 2022.
- YTD data: 23.6m impressions via Facebook (63%), Instagram (32%), desktop display (2%), and mobile display (2%).
- 2021-2022 spend: Full-year spend equaled $97k in 2021 and $96.3k in 2022.
- Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, wral.com, dmv.org, and zillow.com.
Agency analysis:
- Opportunity: CMO hires are the number one sign of upcoming agency hires.
- We have not confirmed any current agency relationships for SH.
Insight Sources: Digital spend insights estimated by Pathmatics.
