Porsche hires president, CEO amid digital spend increases (Score 24)

Sales lead: The new CEO has extensive marketing experience, so he will likely be heavily involved in strategy. 

• Porsche Cars North America named Timo Resch as president & CEO, effective November 1st, 2023.
• Resch most recently served as BMW's customer, brand, and sales VP.
• Prior to that, he was the sales & marketing VP at BMW. 

Target demographic: Affluent Gen-X & millennial men

The company will likely:

• Review the current agency roster/seek additional assistance
• Keep increasing digital spend
• Try new ad channels

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

• YTD spend: Porsche spent around $172.3k on national TV ads YTD, a huge decrease from $1.3m spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend fell 61% from $3.3m in 2021 to $1.3m in 2022. 
• Ad programming: It placed ads during programming such as IMSA Weathertech Sportscar Championship, IMSA Racing, The Last Word With Lawrence O'Donnell, CNN Newsroom With Fredricka Whitfield, and House Hunters. 

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

• YTD spend: Porsche spent about $5.3m on digital display ads YTD, a significant increase from $1.8m spent in this channel during the same time period of 2022. 
• YTD data: 703.2m impressions via Instagram (50%), Facebook (26%), YouTube (15%), desktop display (6%), and mobile display (2%). 
• 2021-2022 spend: Full-year spend dropped by 38% from $10.7m in 2021 to $6.6m in 2022. 
• Ad location: It placed 99% of these ads directly onto sites such as instagram.com, facebook.com, youtube.com, vogue.com, and cars.com. It placed 1% of these ads indirectly through BlogHer and Display & Video 360 onto sites such as rollingstone.com, espn.com, cars.com, realtor.com, and ebay.com. 

Additional channel insights  

• Vivvix: Porsche also utilizes OOH, print, radio, and local broadcast. 

Agency analysis:

• Opportunity: I believe both of these accounts are past the three-year average agency tenure, so reach out to see if Porsche plans on making any changes. 
  • Plus, the company may outsource additional duties such as social, digital, or PR. 
• Current roster:
  • PHD Chicago: media AOR
  • Cramer-Krasselt : creative AOR