Female Gen-Z, Millennial Opps: Reef appoints first-ever CMO amid spend increases (Score 59)

Sales lead: This company signals it is more committed to marketing by creating this position.

• Reef named Michael Minter its first-ever CMO, effective November 2023.
• Minter joins from DC Shoes, where he served as global marketing head.
• He now leads all of Reef's marketing operations. 

Target demographic: Gen-Zers & millennials with a female skew

The company will likely:

• Keep increasing digital spend
• Diversify ad placement
• Build out agency roster

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

• YTD spend: Reef spent nearly $3.2m on digital display ads YTD, up 68% from $1.9m spent in this channel during the same time period of 2022. 
• YTD data: 506.7m impressions via Facebook (50%), Instagram (43%), and Twitter (7%). 
• 2021-2022 spend: Full-year spend increased by 67% from $1.2m in 2021 to $2m in 2022. 
• Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, and twitter.com. 

Agency analysis:

• Opportunity: Contact the new CMO now to secure top priority. 
• Current roster:
  • HAYMAKER: creative

Insight Sources: Digital spend insights estimated by Pathmatics.