Millennial Parents Opps: Care.com hires first-ever CMO, CXO (Score 59)

Sales lead: Get in touch with the new DMs for more information about their future plans. 

• Care.com created two new positions by naming John Buchanan CMO and Naaz Nichols CXO.
• Buchanan most recently served as LegalZoom's CMO.
• He is now responsible for all global marketing initiatives. 
• Nichols joins from HBO, where she served as SVP of retention & editorial.
• She will lead global customer operations. 

Target demographic: Millennial parents

The company will likely:

• Continue moving ad dollars from TV to digital
• Try new ad channels
• Seek additional agency assistance

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

• YTD spend: Care.com spent around $14.8m on national TV ads YTD, down 18% from $18.1m spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend fell 12% from $25m in 2021 to $22m in 2022. 
• Ad programming: It placed ads during programming such as Friends, Young Sheldon, Vanderpump Rules, Family Guy, and Gunsmoke. 

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

• YTD spend: Care.com spent about $10.4m on digital display ads YTD, a 65% increase from $6.3m spent in this channel during the same time period of 2022. 
• YTD data: 1.4b impressions via Facebook (61%), Instagram (23%), and YouTube (15%). 
• 2021-2022 spend: Full-year spend jumped from $2.4m in 2021 to $8.5m in 2022. 
• Ad location: It placed 100% of these ads directly onto sites such as facebook.com, instagram.com, and youtube.com. 

Additional channel insights  

• Vivvix: Care.com also invests in OOH, print, radio, and local broadcast.
• Top podcast sponsored: The Ben Shapiro Show, The Herd with Colin Cowherd, The John Batchelor Show, Morbid, and Stuff To Blow Your Mind. 

Agency analysis:

• Opportunity: Contact Care.com's new CMO now to secure top priority.
• Current roster:
  • Ocean Media: media buying