Winmo Brands Hiring Their First CMOs in Q3 2024
In Q3 2024, several growing companies—including Alloy, which appointed Kathryn Cook as its first-ever CMO—are hiring their inaugural Chief Marketing Officers to lead comprehensive, data-driven marketing strategies aimed at expanding market presence, optimizing ROI, and driving long-term growth through integrated digital and traditional marketing efforts.
When a company hires a Chief Marketing Officer (CMO) for the first time, it’s a significant milestone. It typically indicates that the company is growing or preparing for expansion and needs a marketing expert to manage increased complexity. This move demonstrates a commitment to a robust marketing strategy and the importance of having a dedicated leader to guide marketing efforts. A CMO brings expertise and leadership, helping to build and execute comprehensive branding strategies to elevate the company’s market presence.
Having a CMO also signals readiness to innovate and adapt to changing market conditions and consumer behaviors. The CMO will integrate various marketing activities—such as digital marketing, traditional advertising, and public relations—into a cohesive strategy. They often bring a customer-centric approach, ensuring the company understands and meets customer needs. With a focus on data-driven decision-making, the CMO will optimize marketing performance and boost ROI, ensuring every marketing dollar is well spent. Overall, it’s a clear sign the company is stepping up its game and aiming for long-term success.
Below are four brands that have recently hired their first-ever CMO:
1) Alloy
Alloy develops an identity verification platform that checks for fraud and simplifies identity management for banks and financial institutions. It recently appointed Kathryn Cook as its first-ever CMO, effective June 2024. Cook previously served as interim CMO of nCino and is now tasked with supporting Alloy’s growth initiatives. The company targets financial companies with risk management needs.
- Sales lead: Contact the new CMO to discuss Alloy’s upcoming marketing plans.
- 2023 annual estimated media spend: $825,522
- Trailing 12-month estimated media spend: $1,208,868
Alloy will likely:
- Increase digital marketing spend.
- Explore new marketing channels to engage a broader audience.
- Outsource some marketing duties to agency partners.
Digital and social insights:
- YTD spend: Less than $100 on digital display ads YTD.
- 2022-2023 spend: Full-year spending jumped from $100 in 2022 to $1.2k in 2023.
- 2023 data: 845.8k impressions via Programmatic.
- Ad location: msn.com.
Agency analysis: CMO hires are the first sign of upcoming agency appointments. Alloy does not currently work with any agencies.
2) Jasper
Jasper is an AI assistant designed to create content in a brand’s unique voice. Its browser extension allows use across various platforms, ensuring consistency in tone and language. With over 100K customers and recognition as a fast-growing company, Jasper offers a free trial to help teams unlock their best ideas. The company appointed Loreal Lynch as its first-ever CMO in June 2024. Lynch joins from Stripe, where she served as global head of campaigns.
- Sales lead: This hire will likely lead to higher ad spending and possibly agency appointments.
- 2023 annual estimated media spend: $799,401
- Trailing 12-month estimated media spend: $709,540
Jasper will likely:
- Ramp digital spend back up.
- Experiment with new marketing channels.
- Seek agency support.
Digital and social insights:
- YTD spend: Around $3.3m on digital display ads YTD, down from $14.9m during the same period in 2023.
- YTD data: 419.7m impressions via Direct.
- 2022-2023 spend: Full-year spending increased by 43% from $14.9m in 2022 to $21.4m in 2023.
- Ad location: LinkedIn, Facebook, and YouTube.
Agency analysis: CMO hires are the first sign of upcoming agency appointments. Jasper does not currently work with any agencies.
3) Sikich
Sikich is an investment banking firm based in Chicago specializing in capital market advice and M&A services for middle-market companies. The firm named Cameron Petroff its first-ever CMO in July 2024. Petroff joined the company in 2017 as marketing director and targets businesses needing accounting, CRM, and IT/security services.
- Sales lead: Contact the new CMO for more information about his plans.
- 2023 annual estimated media spend: $10,721
- Trailing 12-month estimated media spend: $21,794
Sikich will likely:
- Boost marketing expenditure.
- Try new marketing channels.
- Outsource some marketing duties to agency partners.
Digital and social insights:
- YTD spend: Approximately $23.4k on digital display ads YTD.
- YTD data: 7.3m impressions via Ad Network (58%), Direct (22%), and Programmatic (20%).
- 2023 spend: Full-year spending totaled $5.1k in 2023.
- Ad location: yahoo.com, drudgereport.com, thehill.com, nameberry.com, and espn.com.
Agency analysis: Petroff may need extra help now that he is the CMO. Sikich does not currently work with any agencies.
4) Nature’s Path Foods
Nature’s Path is a leading manufacturer of whole grain and organic breakfast foods, cereals, and snacks with headquarters in Richmond, BC. The brand recently appointed Raj Joshi as its first-ever CMO. Joshi previously served as chief growth officer of Blue Diamond Growers and will now focus on expanding Nature’s Path’s market presence in the US and improving consumer relations with the brand’s target demographic—health-conscious millennials.
- Sales lead: Reach out to the new CMO to discuss potential opportunities.
Nature’s Path will likely:
- Increase marketing spend.
- Explore new marketing channels.
- Review the current agency roster.
Digital and social insights:
- YTD spend: About $554.8k on digital display ads YTD, more than double the $220.1k spent during the same period in 2023.
- YTD data: 81.1m impressions via Direct (99%) and AppNexus (1%).
- 2022-2023 spending: Full-year spending increased by 21%, from $363.8k in 2022 to $440.8k in 2023.
- Ad location: Instagram, Facebook, mysuncoast.com, and slickdeals.net.
Agency analysis: Act now to secure top priority with the new CMO. The current roster includes Cairns Oneil as media planning AOR and Rachel Kay for PR work.
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