Male Millennial, Gen-X Opps: Lucas Oil hires first-ever CSO (Score 49)

Sales lead: The new DM has CMO experience, so she will likely be heavily involved in the marketing strategy. 

• Lucas Oil (LO) created a new position by hiring Deidra Colvin as chief strategy officer.
• Colvin brings extensive marketing experience from her time as CMO of OneClick Ventures, Baker Hill, and Spirion. 
• She most recently served as CEO of EDGE Mentoring. 
• As CSO, Colvin is tasked with creating annual and quarterly strategic plans, making sure all teams are on the same page, and leading special projects. 

Target demographic: Gen-X & millennial men

The company will likely:

• Implement new strategies
• Ramp ad spend back up
• Build out the agency roster

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

• YTD spend: LO spent around $531.6k on national TV ads YTD, a 23% decrease from $693.9k spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend fell 38% from $1.3m in 2021 to $802.3k in 2022. 
• Ad programming: NHRA Drag Racing, Major League Fishing, NFL Football, PBR Camping World Team Series, and NHRA Sportsman Series. 

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

• YTD spend: LO spent about $33k on digital display ads YTD, just 13% of the $261.3k spent in this channel during the same time period of 2022. 
• YTD data: 5.8m impressions via desktop display (33%), YouTube (32%), Facebook (17%), Instagram (9%), and mobile display (9%). 
• 2021-2022 spend: Full-year spend jumped from $66.2k in 2021 to $314.8k in 2022. 
• Ad location: It placed 70% of these ads directly onto sites such as youtube.com, facebook.com, instagram.com, finance.yahoo.com, and sportskeeda.com. It placed 30% of these ads through multiple indirect channels onto sites such as pirate4x4.com, hdforums.com, salary.com, ramforumz.com, and hemmings.com. 

Additional channel insights  

• LO also invests in OOH, print, and local broadcast. 

Agency analysis:

• Opportunity: The CSO hire could lead to roster shifts, so get in touch now to offer your services. 
• Current roster:
  • Driven 360: PR AOR
  • In-house: media