Operations
12 May
YETI: Data-driven analytics, collaboration key for marketing
The DTC brand recently brought oversight of all sales channels under the chief commercial officer role.
Photo by William King on Unsplash
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A data-based approach to marketing is providing sometimes unexpected insights that are helping YETI drive demand for its outdoor-ready coolers and drinkware products.
On the company’s earnings call to recap the first quarter, CEO Matt Reintjes was asked about what strategies for performance marketing are working in 2023. While he spoke from a high-level, Reintjes’ answers yielded insights about how the brand builds its marketing operation, and centers data.
“We actually have a very integrated approach to how we build the funnel from top to bottom,” Reintjes said.
Key to this is the brand’s advanced analytics team, which gains an understanding about the consumer and consumer behavior, particularly in the U.S. In turn, that has a direct impact on how the brand allocates performance marketing dollars.
The brand’s chief marketing officer and chief commercial office collaborate on a “weekly and sometimes daily evolution” that determines the resources that the company puts toward the top of the funnel, the mid-funnel and closer to the transaction.
“We had some great things come out of our advanced analytics team in looking at demographics, in geographies, with affinities for categories and then applying things in front of consumers at that point. And the results we're seeing in those, we're now expanding those results more nationally,” Reintjes said.
The analytics are yielding insights about specific products, categories and how different groups have affinities for each. In turn, that influences how the brand allocates performance marketing spend, and also drives brand awareness in specific demos and geos.
“We're excited by what we're seeing,” Reintjes said. “The answer has not always been intuitive. And so seeing sort of a data-driven focus on that, I think it's going to lead to some really nice opportunities for us.”
A new role
The brand has also been bolstered by a leadership move to take an integrated approach to sales channels. YETI recently moved to place management of all commercial channels under the role of chief commercial officer, which is held by S. Faiz Ahmad.
“This allows for the uniqueness of each channel, but also the incredible opportunity for knowledge sharing,” Reintjes said. “We are already seeing the benefits of this new structure. At the highest level, this ensures we are positioned to deliver consistent, high-impact experiences wherever we interact with our customers or consumers. This starts at YETI.com, where we are elevating the consumer experience in amplifying product positioning.”
In the end, it allows the brand to communicate both innovation in products, tell its story to consumers and communicate across a variety of channels such as direct-to-consumer, wholesale and ecommerce marketplace channels.
“Brand and product come together in our go-to-market and how we reach consumers around the globe when and where they want to shop,” Reintjes said. “This is central to our belief in the importance and balance of wholesale and DTC channels to market.”
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Careers
02 May
Helen of Troy, Ted Baker CEOs exit, Snap hires ex-Meta execs
On the Move has the latest hiring updates from Anthropologie and Vera Bradley.
Anthropologie made a series of leadership appointments. (Courtesy photo)
This week, Helen of Troy and Ted Baker are seeing changes in the top leadership ranks, while Snap is bringing on former Meta executives in a bid to boost advertising, Plus, Vera Bradley is set to undergo a reorganization that is bringing a change at CFO.
Here's a look at the latest moves:
Helen of Troy CEO to retire, makes CFO change
Julien Mininberg is set to retire from the role of CEO at Helen of Troy, effective March 1, 2024. Mininberg spent the last decade as CEO of the OXO and Hydro Flask parent, and has served in the consumer products industry for the last 34 years.
Minniberg will be succeeded by Noel Geoffroy, who is currently chief operating officer. Geoffroy joined the company last year, bringing 25 years of experience in CPG at Sanofi Consumer Health, Kellogg’s, Heinz, and Procter & Gamble. Geoffroy was the key architect of the company’s transformation plan, called Project Pegasus.
Helen of Troy is also seeing a change at CFO. Matt Osberg will leave the company after seven years to pursue an opportunity closer to family in Minnesota. The company is bringing back Brian Grass to serve as interim CFO. He previously had a 15-year tenure with the company,
In its most recent quarter, the company reported that core net sales declined 16.2% and core adjusted diluted EPS declined 19.9% year-over-year.
Ted Baker CEO to depart following acquisition
Rachel Osborne and other executives are set to depart apparel retailer Ted Baker as it settles into new ownership under Authentic Brands Group.
The news comes as ABG said it signed operating agreements in the UK and Europe for the brand with PDS Group and AARC, respectively.
Along with Osborne, departing executives include Chief Financial Officer Marc Dench, Chief People Officer Peter Collyer and Group Commercial and Business Development Director Helen Costello. The changes are “part of a broader transformation process as Ted Baker shifts towards Authentic’s licensing model, which partners with leading operators to optimize brand value in the marketplace,” according to a news release.
Snap hires Meta execs
Snapchat parent Snap Inc. hired a pair of executives from Meta Platforms as it seeks to expand in advertising. The hires are as follows:
Patrick Harris will serve as SVP of partnerships. This new role is designed to expand personalized use of augmented reality, which was on display in a recent partnership with concert promoter Live Nation Inc.
David Sommer will be head of verticals, tasked with working more closely with CPGs to use Snap’s advertising tools. Along with 11 years at Meta, Sommer most recently served as chief commercial officer at rewards platform Fetch.
Vera Bradley makes change at CFO
Handbag and luggage retailer Vera Bradley is bringing in a new CFO as part of a wider reorganization.
Michael Schwindle will join the company as CFO, succeeding John Enwright in early June.
The company also made several changes in marketing, ecommerce, product design, and product development areas that will result in the elimination of approximately 25 corporate positions.
Anthropologie makes key leadership changes
Lifestyle brand Anthropologie Group announced a series of leadership changes. These included:
Anu Narayanan was promoted to president of women's: apparel, accessories, weddings and beauty. Narayanan joined in 2018, and has led the women's apparel and accessory business.
Holly Thrasher was promoted to chief merchandising officer of apparel and weddings. Thrasher came to the brand in 2021 from Nordstrom, where she spent 18 years.
Aaron Mutscheller is joining Anthropologie as president of home and terrain, overseeing home and garden. He previously held leadership positions at Williams Sonoma, Serena & Lily and Nickey Kehoe.
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