Four Brands Ramping Up Their Google Ad Spending: Q4 2022 - Winmo
Winmo's new Google Ads Search Filter reveals that American Express, with $145.96 million in media spend and $43.28 billion in revenue, is increasing its digital ad spending and experiential marketing to target younger Gen-Z and millennial consumers, while slightly reducing TV ad spend, as part of a broader strategy to engage these fast-growing customer segments post-COVID.
Looking to find prospects on Winmo that have a budget in search spending? Winmo’s latest addition, Google Ads Search Filter, allows users to identify which brands are spending the most money on paid search. This is a valuable tool for professionals across brands, agencies, and adtech companies to identify emerging advertisers, as SEM is a strong indicator of additional spend to come.
Use this information to compare search budgets against TV, digital, and the rest of the media mix to correctly judge who your best prospects are. Note: This feature is part of our Advance and Pro packages; if you don’t have these packages, talk to your account manager about the benefits. Below are Winmo-only insights on four brands that have ramped up their Google Ads spending, including details on media spending, revenue, agency analysis, and more.
1) American Express starts targeting younger audiences
- Media spend: $145.96m
- Company media spend: $153.07m
- Company revenue: $43.28b
- Location: New York, NY
American Express has shifted its marketing strategy to reach Gen-Z and millennials who are showing new consumer behavior. According to CMO Elizabeth Rutledge, Gen-Z and millennials are a large part of the existing base and the fastest growing age cohort. With the easing of Covid restrictions, AE’s customers have resumed shopping in person, traveling, and attending live events.
To reach younger audiences more effectively, American Express has increased its use of digital experiences and in-person experiential activations. Recent initiatives include a fan experience and card member lounge at Wimbledon and a virtual metaverse offering, Virtual Hill. The company is expected to continue ramping up digital efforts, increasing digital ad spend, and pursuing experiential initiatives.
Additional spending insights:
- YTD spend: Approximately $49.8m on national TV commercials, down 8% from $54m at this point last year.
- Last year: Spent around $74m on TV, up from $22.2m in 2020.
- 2022 ad programming: Targeted male sports enthusiasts watching NBA Basketball, NFL Football, Super Bowl LVI Pregame, 2022 US Open Tennis, and Today.
Current agency roster:
- In-house: Creative
- Dentsu mcgarrybowen: Creative AOR
- Universal McCann: Media AOR
- Kepler Group: Media and digital AOR
- H&S Communications: PR agency partner
- M Booth & Associates: PR and social agency partner
- Matterkind: Programmatic agency partner
- Tallwave: Digital agency partner
- Forsman & Bodenfors: Creative and social agency partner
2) Fabletics taps CMO amid TV spend increases
- Media spend: $2.89m
- Company media spend: $4.04m
- Location: El Segundo, CA
Fabletics named Ilona Aman CMO in September 2022. Aman, formerly chief brand officer at VRM & The ARIA Network, will manage brand strategy, creative, collaborations, retail, digital, membership, social media, and PR. The company is expected to ramp digital ad spend back up, continue increasing national TV spend, experiment with new marketing channels, and seek agency assistance.
Digital and social insights:
- YTD spend: Close to $20.9m on digital display ads YTD, a 55% decrease from $30.3m in the same period of 2021.
- YTD data: 2.2b impressions via desktop (35%), Instagram (32%), Facebook (23%), Twitter (10%), and desktop display (1%).
- Last year: Full-year spend increased by 9% from $31.7m in 2020 to $34.4m in 2021.
- Ad location: 99% of ads placed directly on sites like youtube.com, instagram.com, facebook.com, twitter.com, and twitch.tv; 1% indirectly through The Trade Desk on sites like weather.com, brainly.com, yahoo.com, espn.com, and chegg.com.
Agency analysis:
- Opportunity: New CMOs often outsource some duties to agency partners—offer creative, digital, social media, and media assistance.
- Current roster: ICR (Communications)
3) Starbucks shifts strategy to reach younger audiences
- Media spend: $105.98m
- Company media spend: $105.58m
- Company revenue: $29.06b
- Location: Seattle, WA
To bolster brand awareness and engagement among Gen-Z, Starbucks is shifting its focus from hot drinks to cold ones. Gen-Z, with more discretionary income, is becoming a higher priority. Starbucks is likely to return to heavier ad spend, especially via digital channels, and may seek new digital and/or social agency partners.
Broadcast insights:
- YTD spend: Roughly $36.9m on national TV commercials.
- Last year: $52m on TV, up from $43.1m in 2020.
- 2022 ad programming: Targeted millennials watching NFL football, Good Morning America, Today, The Tonight Show Starring Jimmy Fallon, and Friends.
Digital and social insights:
- YTD spend: Approximately $45.2m on digital ads.
- YTD data: ~5.3b digital impressions via Instagram (55%), Facebook (26%), desktop video (17%), and Twitter (2%).
- Last year: 2021 full-year spend decreased 4% to $82.9m from $86.3m in 2020.
Additional agency insights:
- Opportunity: Starbucks may need additional digital and/or social media management assistance to reach Gen-Z more effectively.
- Current agency roster:
- Spark Foundry: Media AOR
- Energy BBDO: Creative AOR
- BBDO Worldwide: Creative AOR
- Edelman: PR AOR
4) Victoria’s Secret taps chief customer officer amid rebrand
- Media spend: $1.32m
- Company media spend: $1.32m
- Company Revenue: $6.78b
- Location: Reynoldsburg, OH
In September, Victoria’s Secret named Chris Rupp as chief customer officer. Rupp, formerly EVP and chief customer and digital officer at Albertsons, brings digital transformation expertise. As Victoria’s Secret works on a rebrand, her leadership is expected to drive increased digital activity. The company will likely continue pursuing influencer relationships, return to heavier digital spend, and conduct agency reviews.
The rebrand initiative includes a new campaign promoting body positivity instead of sexuality. The campaign features brand ambassadors such as singer Brittney Spencer, models Bella Hadid and Bethann Hardison, and athlete Rose Namajunas. Created by Look Creative Agency, it will run on social channels like TikTok, YouTube, and Twitter, as well as influencers’ platforms and connected TV. The campaign also includes localized advertising in VS’s NY flagship store, OOH marketing via bulletins, and urban panels in NY and LA.
Digital and social insights:
- YTD spend: Roughly $17m on digital ads YTD, down 19% from $21m in the same 2021 timeframe.
- YTD data: Approximately 2.2b digital impressions via Facebook (51%), Instagram (47%), desktop display (2%), and desktop video (1%).
- Last year: 2021 full-year spend was $28.8m, up 52% from $19m in 2020.
Additional agency insights:
- Opportunity: This hire could lead to roster shifts; reach out to get on Rupp’s radar. Her digital expertise makes digital reviews especially likely.
- Since Victoria’s Secret already outsources digital, PR/communications services may be most beneficial, though all kinds of reviews could occur.
- Current agency roster:
- Look Creative Agency: Creative agency partner
- Digitas: Media and social AOR
- WPP Group: Digital AOR
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