BFY Gen-Z, Millennial Opps: Stryve Foods' marketing SVP leaves amid spend declines (Score 57)

Sales lead: Keep an eye on this company so that you are prepared to reach out as soon as it hires a new marketing DM. 

• Stryve lost its top marketer, Jerry Goldner, in October 2023.
• Goldner joined the company as sales VP in 2021 and was promoted to chief customer officer in 2022. 
• He was then promoted to marketing SVP in May 2023. 
• He is now chief growth officer of Jones Soda.
• We will be sure to update you as soon as Stryve names a replacement.

Target demographic: Gen-Zers & millennials

Once Stryve hires a new marketing DM, it will likely:

• Significantly increase ad spend
• Diversify ad placement
• Seek agency assistance

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

• YTD spend: Stryve spent about $10.5k on digital display ads YTD, a huge decrease from $393k spent in this channel during the same time period of 2022. 
• YTD data: 1.6m impressions via Instagram (52%) and Facebook (48%). 
• 2021-2022 spend: Full-year spend plummeted from $4.4m in 2021 to $415.8k in 2022. 
• Ad location: It placed 100% of these ads directly onto instagram.com and facebook.com. 

Agency analysis:

• Opportunity: Start working on your pitches so that you can reach out as soon as this company hires a new top marketer.  
  • Stryve does not currently work with any agencies to the best of my knowledge.

Insight Sources: Digital spend insights estimated by Pathmatics.