Digital B2B Opps: GoTo hires CMO amid spend declines (Score 58)
Sales lead: This hire will directly impact the company's marketing strategy & could lead to agency
appointments.
- GoTo hired Peter Mahoney as CMO, effective August 2023.
- Mahoney most recently served as founder and CEO of Plannuh.
- He brings CMO experience from his time as Nuance Communications's CMO from 2011 to 2013.
- As GoTo's CMO, Mahoney is responsible for brand, creative, digital, corporate communications, and all other marketing operations.
Target demographic: Businesses that need IT management or support
The company will likely:
- Ramp ad spend back up
- Experiment with new ad channels
- Seek agency assistance
Digital and social insights (digital ad spend, effectiveness, impressions, and performance)
- YTD spend: GoTo spent approximately $302k on digital display ads YTD, a significant decrease from $2.6m spent in this channel during the same time period of 2022.
- YTD data: 52.7m impressions via Facebook (50%), desktop display (19%), Twitter (19%), YouTube (7%), and Instagram (5%).
- 2021-2022 spend: Full-year spend dropped 46% from $5.1m in 2021 to $2.8m in 2022.
- Ad location: It placed 97% of these ads directly onto sites such as facebook.com, twitter.com, youtube.com, instagram.com, and signupgenius.com. It placed 3% of these ads through multiple indirect channels onto sites such as espn.com, imleagues.com, lancasteronline.com, yahoo.com, and worldtravelling.com.
Additional channel insights
- Top podcasts sponsored: Stories from NPR, SANS Internet Stormcenter Daily Cyber Security Podcast, Morning Edition, Daily Tech News Show, and Get Up.
Agency analysis:
- Opportunity: Contact the new CMO now to see if you can pick up any of GoTo's business.
- Current roster:
- In-house: media
Insight Sources: Digital spend insights estimated by Pathmatics; podcast data estimated by Podchaser.
