Winmo Sales Brands Hiring Their First CMOs in Q3 2024

When a company hires a Chief Marketing Officer (CMO) for the first time, it’s a big deal. It usually means the company is growing or gearing up for expansion, and it needs a marketing pro to handle the increased complexity. This move shows that the company is getting serious about its marketing strategy and recognizes the importance of having a dedicated leader to guide its efforts. A CMO brings a wealth of expertise and leadership to the table, helping to build and execute comprehensive branding strategies to elevate the company’s presence in the market.

Having a CMO also means the company is ready to innovate and adapt to changing market conditions and consumer behaviors. They’ll be looking to integrate various marketing activities—like digital marketing, traditional advertising, and public relations—into a cohesive strategy. Plus, a CMO often brings a customer-centric approach, ensuring that the company truly understands and meets customer needs. With a focus on data-driven decision-making, the CMO will help optimize marketing performance and boost ROI, making sure every marketing dollar is well spent. Overall, it’s a clear sign that the company is stepping up its game and aiming for long-term success.

Keep reading to discover four brands that have recently hired their first-ever CMO — and see where you can help them grow and evolve.

1) Alloy

Alloy develops an identity verification platform that checks for fraud and simplifies identity management for banks and financial institutions.
It recently appointed Kathryn Cook as its first-ever CMO, effective June 2024. Cook most recently served as interim CMO of nCino and is now tasked with supporting the company’s growth initiatives. The company’s target demographic includes financial companies with risk management needs.

Digital and social insights:

YTD spend: Alloy spent less than $100 on digital display ads YTD.
2022-2023 spend: Full-year spending jumped from $100 in 2022 to $1.2k in 2023.
2023 data: 845.8k impressions via Programmatic.
Ad location: msn.com.

Agency analysis: CMO hires are the first sign of upcoming agency appointments and Alloy does not currently work with any agencies.

2) Jasper

Jasper is an AI assistant designed to create content in a brand’s unique voice. Its browser extension allows it to be used across various platforms, ensuring consistency in tone and language. With over 100K customers and recognition as a fast-growing company, Jasper offers a free trial to help teams unlock their best ideas. The company appointed Loreal Lynch as its first-ever CMO in June 2024. Lynch joins from Stripe where she served as global head of campaigns.

Sales lead: This hire will likely lead to higher ad spending and possibly agency appointments.
2023 annual estimated media spend: $799,401
Trailing 12-month estimated media spend: $709,540

Jasper will likely:

Ramp digital spend back up.
Experiment with new marketing channels.
Seek agency support.

Digital and social insights:

YTD spend: Jasper spent around $3.3m on digital display ads YTD, down from $14.9m spent in this channel during the same time period of 2023.
YTD data: 419.7m impressions via Direct.
2022-2023 spend: Full-year spending increased by 43% from $14.9m in 2022 to $21.4m in 2023.
Ad location: LinkedIn, Facebook, and YouTube.

Agency analysis: CMO hires are the first sign of upcoming agency appointments and Jasper does not currently work with any agencies.

3) Sikich

Sikich is an investment banking firm based in Chicago that specializes in providing capital market advice and M&A services to middle-market companies. The firm, which offers tailored solutions to its clients, named Cameron Petroff its first-ever CMO in July 2024. Petroff joined the company in 2017 as marketing director and targets businesses that need accounting, CRM, and IT/security services.

Sales lead: Contact the new CMO for more information about his plans.
2023 annual estimated media spend: $10,721
Trailing 12-month estimated media spend: $21,794

Sikich will likely:

Boost marketing expenditure.
Try new marketing channels.
Outsource some marketing duties to agency partners.

Digital and social insights:

YTD spend: Sikich spent approximately $23.4k on digital display ads YTD.
YTD data: 7.3m impressions via Ad Network (58%), Direct (22%), and Programmatic (20%).
2023 spend: Full-year spending totaled $5.1k in 2023.
Ad location: yahoo.com, drudgereport.com, thehill.com, nameberry.com, and espn.com.

Agency analysis: Petroff may need some extra help now that he is the CMO. Sikich does not currently work with any agencies.

4) Nature’s Path Foods

Nature’s Path is a leading manufacturer of whole grain and organic breakfast foods, cereals, and snacks with corporate headquarters in Richmond, BC. The brand recently appointed Raj Joshi as its first-ever CMO. Joshi most recently served as chief growth officer of Blue Diamond Growers and will now focus on expanding Nature’s Path’s market presence in the US and improving consumer relations with the brand’s target demographic — health-conscious millennials.

Sales lead: Reach out to the new CMO to discuss potential opportunities.

Nature’s Path will likely:

Increase marketing spend.
Explore new marketing channels.
Review the current agency roster.

Digital and social insights:

YTD spend: NP spent about $554.8k on digital display ads YTD, more than double the $220.1k spent in this channel during the same time period of 2023.
YTD data: 81.1m impressions via Direct (99%) and AppNexus (1%).
2022-2023 spending: Full-year spending increased by 21%, from $363.8k in 2022 to $440.8k in 2023.
Ad location: Instagram, Facebook, mysuncoast.com, and slickdeals.net.

Agency analysis: Act now to secure top priority with the new CMO. The current roster includes Cairns Oneil as media planning AOR and Rachel Kay for PR work.

Brands Hiring Their First CMOs in Q3 2024

1) Alloy

2) Jasper

3) Sikich

4) Nature’s Path Foods

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