QuickBooks hires CMO amid spend shifts (Score 69)

Sales lead: Contact the new CMO for more information about her future plans. 

• QuickBooks named Lauren Weinberg chief marketing & revenue officer in October 2023.
• Weinberg most recently served as Square's CMO.
• We told you about QuickBooks' picking up FCB New York as its creative AOR in June. 

Target demographic: Business DMs

The company will likely:

• Continue moving ad dollars from TV to digital channels
• Experiment with new ad channels
• Make additional agency changes

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

• YTD spend: QuickBooks spent around $26.7m on national TV ads YTD, about half (46%) of the $57.8m spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend increased by 10% from $59m in 2021 to $64.9m in 2022. 
• Ad programming: It placed ads during programming such as NFL Football, NBA Basketball, FOX NFL Sunday, Women's College Basketball, and NHL Hockey. 

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

• YTD spend: QuickBooks spent approximately $64m on digital display ads YTD, a huge increase from $18.8m spent in this channel during the same time period of 2022.  
• YTD data: 8.6b impressions via Facebook (40%), Instagram (35%), YouTube (20%), desktop video (3%), desktop display (2%), and mobile display (1%). 
• 2021-2022 spend: Full-year spend fell by 16% from $29m in 2021 to $24.3m in 2022. 
• Ad location: It placed 99% of these ads directly onto sites such as facebook.com, instagram.com, youtube.com, twitch.tv, and heraldweekly.com. It placed 1% of these ads indirectly through Display & Video 360 and Amazon DSP onto sites such as filehippo.com, ebay.com, amazon.com, espn.com, and yahoo.com. 

Additional channel insights  

• Vivvix: QuickBooks also utilizes local broadcast.
• Top podcasts sponsored: NPR News Now, The Herd with Colin Cowherd, The Glenn Beck Program, The Dan Bongino Show, and Up First. 

Agency analysis:

• Opportunity: CMO hires are the number one sign of upcoming agency reviews. 
• Current roster:
  • FCB New York: creative AOR
  • Initiative: media AOR
  • Camelot Strategic Marketing & Media: digital