Canyon Ranch hires CMO amid spend increases (Score 50)

Sales lead: This hire will directly impact the company's marketing strategy & agency roster. 

• Canyon Ranch (CR) appointed Leena Utsch as CMO, effective April 2023.
• Utsch joins from Coravin, where she held the same position. 
• At Coravin, Utsch handled retail, trade, direct-to-consumer, and product marketing. 
• She now is responsible for all of CR's marketing initiatives. 

Target demographic: Gen-Xers & millennials

The company will likely:

• Diversify ad placement
• Increase ad spend
• Conduct agency reviews

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

• YTD spend: CR spent approximately $159.8k on digital display ads YTD, an 11% increase from $143.8k spent in this channel during the same time period of 2022.
• YTD data: 21.7m impressions via Instagram (67%) and Facebook (33%). 
• 2021-2022 spend: Full-year spend jumped from $87.4k in 2021 to $288.7k in 2022. 
• Ad location: It placed 100% of these ads indirectly through instagram.com and facebook.com. 

Agency analysis:

• Opportunity: The new CMO may decide to review CR's current roster. 
• Current roster:
  • SS+K: creative
  • Tom, Dick & Harry Creative: creative
  • Stella Rising: media buying & planning
  • In-house: media

Insight Sources: Digital spend insights estimated by Pathmatics.