Campaign Imminent: Oura expands into Best Buy (Score 57)
Sales Lead: Oura is ringing (you're welcome) in a new era with its first major foray into brick-and-mortar.
- The company's ring devices, designed for troubled sleepers, are now available in Best Buy.
- 850 stores will offer ring sizing, shipping, and in-store services; 300 of them will stock Oura products; and 50 will include an elaborate Oura experience involving videos and the chance to explore various Oura rings.
- The company will likely:
- Launch a new campaign
- Return to higher spend
- Target demographic:
- Millennials and Gen-X
Additional spending insights:
- Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)
- YTD spend: Oura has allocated roughly $1.7m toward national TV commercials YTD, 32% less than the roughly $2.5m allocated by this point last year.
- Last year: The company allocated around $9.9m toward this channel in 2022 after having allocated almost a third of this, around $3.7m, in 2021.
- 2023 ad programming: Oura's 2023 commercials have targeted the male-skewed audience of shows such as College Football, The Masked Singer, NBA Basketball, Next Level Chef, and America's Got Talent: All-Stars.
- Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: So far this year, the company has spent approximately $2.2m on digital ads, less than half of the approximately $5.4m spent within the same 2022 timeframe.
- YTD data: Oura has earned ~2.2m digital impressions YTD via Instagram (38%), desktop video (37%), Facebook (18%), and YouTube (7%) ads.
- The company has placed most of this year's desktop video ads site direct (98%) onto destinations such as weather.com (37%), espn.com, heraldweekly.com, abcnews.go.com, and washingtonpost.com.
- Last year: Oura's estimated full-year 2022 spend reached $10.6m, 17% less than that of $12.8m in 2021.
- Additional channel insights
- The company utilizes Google Ads along with Facebook, Instagram, and online video (via Youtube.com) ads.
Additional agency insights:
- Opportunity: If you haven't yet done so, reach out soon to get on the radar of Doug Sweeny, Oura's CMO since October 2022.
- Current agency roster:
- No Fixed Address Inc.: Creative AOR
Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics; additional channel insights estimated by Vivvix.