Millennial Media Opps: Hyperice hires marketing leader amid spend declines (Score 58)

Sales lead: This hire signals the company will make changes to its marketing strategy & agency roster. 

• Hyperice hired Andy Miguel as marketing head earlier this year.
• Miguel joins from Warner Bros. Discovery, where he served as CMO & marketing head of MotorTrend.
• He is now responsible for go-to-market strategy, partnerships, digital, retail activations, brand experiences, PR, media, & content. 

Target demographic: Millennial athletes

The company will likely:

• Ramp ad spend back up
• Build out its agency roster
• Utilize additional ad channels

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

• YTD spend: Hyperice spent about $33.3k on national TV ads YTD, a huge decrease from $1.1m spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend fell by 62% from $3.4m in 2021 to $1.3m in 2022. 
• Ad programming: It placed ads during Track and Field. 

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

• YTD spend: Hyperice spent approximately $277.5k on digital display ads YTD, a 31% decrease from $400.9k spent in this channel during the same time period of 2022. 
• YTD data: 37m impressions via Instagram (60%), Facebook (33%), desktop display (3%), mobile display (3%), and YouTube (2%). 
• 2021-2022 spend: Full-year spend dropped by 76% from $3.8m in 2021 to $915.7k in 2022. 
• Ad location: It placed 100% of these ads directly onto sites such as instagram.com, facebook.com, dallascowboys.com, seahawks.com, and youtube.com. 

Agency analysis:

• Opportunity: Contact the new marketing head now to see if you can pick up some of Hyperice's business. 
• Current roster:
  • Jack Taylor PR: PR 

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics.