Digital, Social Opps: Fossil execs discuss brand revitalization strategy, highly targeted investments (Score 69)

Sales lead: During the Q3 earnings call, Fossil Group execs spoke about brand revitalization strategy & efforts. Reach out now to secure revenue.

• Per CEO Kosta Kartsotis: "Under our FOSSIL brand revitalization strategy, we are making highly targeted investments in marketing to support our key initiatives across traditional watches, jewelry, and leathers."
• "Over the past year, we have conducted extensive consumer insight work to better understand our target consumer. The results of this deep dive led to the successful launch of our global brand campaign in early September, which debuted with special Fashion Week events in both Paris and New York. The campaign revealed a broad-based overhaul of creative expression across all our touch points in both traditional and digital media. Early reads tell us it’s driving more consumers into the funnel, evidenced by global traffic increases to our website in the United States."
• Brand collaboration: More recently, the company launched a FOSSIL brand collaboration with Disney in celebration of their 100th anniversary. In October, they unveiled the first release of watches, leather goods, and jewelry, including a capsule of limited-edition products made for collectors. There is more to come under this collaboration, which is being supported with targeted campaigns leading up to the holidays.
• Read more about Edge's take on Fossil last campaign, "Made For This" (more here).

Target demographic: Millennials

The company is likely to:

• Increase ad spend throughout H1 2024
• Experiment with new ad channels
• Ramp up promotional activity

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

**According to iSpot, Fossil has not spent a meaningful amount in this channel in some years, so TV sellers might want to look elsewhere for potential revenue**

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

• 2023 YTD spend: Fossil spent about $6.3m on digital display ads YTD, a slight increase from the $6m spent in this channel during the same time period of 2022. 
• YTD data: 895.3m impressions via Instagram (44%), Facebook (38%), YouTube (10%), desktop video (1%), mobile display (2%) and desktop display (5%). 
• 2021-2022 spend: Full-year spend equaled $6.9m in 2021 and $6.5m in 2022. 
• Ad location: It placed 97% of these ads directly onto sites such as instagram.com, facebook.com, youtube.com, twitch.tv, and elle.com. It placed 2% of these ads indirectly through Amazon DSP and Criteo onto sites such as tmz.com, ebay.com, yahoo.com, instyle.com, and byrdie.com. 

Additional channel insights  

• Fossil also spends in digital and print (though print spend is much lower than digital - $6k)
• Top sponsored podcasts: Jocko Podcast, Let's Not Meet: A True Horror Podcast, The Howie Carr Radio Network, The KVJ Show and Plumbing the Death Star.
• Intent insights: Fossil Group has shown moderate interest in Agencies this week.

Agency analysis:

• Opportunity: You will likely have the best shot of picking up digital or media work. 
• Current roster:
  • AMP3: PR AOR
  • R/GA: social AOR
  • Mekanism: creative

Media Spend Estimate Sources: (c) Winmo, LLC, 2024. Used under license.