Millennial Digital Opps: Mercury Financial hires CMO (Score 59)
Sales lead: Reach out now to offer ad space & agency assistance.
- Mercury Financial (MF) hired Colin McCracken as CMO, effective August 2023.
- McCracken most recently served as CMO of Snap Finance.
- He is now responsible for building brand awareness and all other marketing duties.
Target demographic: Millennials
The company will likely:
- Significantly increase ad spend
- Diversify digital ad placement
- Seek agency assistance
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: MF spent about $3k on digital display ads YTD, up from $1.6k spent in this channel during the same time period of 2022.
- YTD data: 438.3k impressions via Instagram (98%) and Facebook (2%).
- 2021-2022 spend: Full-year spend totaled $1.7k in 2022.
- It did not allocate any budget toward this channel in 2021.
- Ad location: It placed 100% of these ads directly onto instagram.com and facebook.com.
Agency analysis:
- Opportunity: CMO hires are the number one sign of upcoming agency appointments, so get in touch now to secure top priority.
- MF does not currently work with any agencies to the best of my knowledge.
Insight Sources: Digital spend insights estimated by Pathmatics.