BFY Gen-Z, Millennial Opps: Meati introduces new product, starts ramping up digital spend (Score 15)
Sales lead: Get in touch if you can help this company build initial brand awareness. .png)
- Meati just rolled out a new product called eat meati jerky.
- The jerky is plant-based and comes in a three-flavor bundle including Original, Peppered, and Sweet Chile.
- It includes seven grams of protein, dietary fiber, and micronutrients.
- The product is currently only available on Meati's website.
In other news:
- Meati recently brought in $50m in a Series C extension funding round, bringing its total valuation to around $300m.
- The company secured $150m in the original Series C round in 2022.
- It will pursue a Series D round in 2024.
- The company plans on using these funds for expansion.
Target demographic: Gen-Zers & millennials
The company will likely:
- Continue rolling out new products
- Significantly increase ad spend & diversify ad placement
- Seek agency assistance
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: Meati spent around $366.4k on digital display ads YTD, a huge jump from $26.2k spent in this channel during the same time period of 2022.
- YTD data: 54.3m impressions via Facebook (62%), Instagram (35%), and YouTube (3%).
- 2021-2022 spend: It started utilizing this channel in 2022, spending about $44.1k.
- Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, and youtube.com.
Agency analysis:
- Opportunity: I recommend offering PR assistance and focusing your pitches on how you can help increase awareness.
- We have not confirmed any current agency relationships for this company.
Insight Sources: Digital spend insights estimated by Pathmatics.
