Solo Brands Selects PMG as Media Agency of Record for Solo Stove
Solo Brands, Inc. (NYSE: DTC) appoints PMG as the media Agency of Record for Solo Stove, aiming to enhance marketing efficiency and drive business growth. The new partnership focuses on data-driven insights and precision in performance marketing to deepen consumer connections and expand brand reach.
The partnership between Solo Brands and PMG represents a strategic move aimed at enhancing Solo Stove's market presence through sophisticated media strategies. The focus on full-funnel media efforts suggests a comprehensive approach that spans across various stages of the customer journey, from awareness to conversion. PMG's expertise in data-driven insights and technology will likely contribute to a more targeted and efficient marketing campaign, potentially improving ROI.
Increasing demand and deepening consumer connections are critical in today's competitive landscape. The utilization of PMG's proprietary Alli technology platform could provide Solo Stove with a competitive edge by enabling personalized marketing at scale. This could lead to higher engagement rates and customer retention, which are key metrics for business growth.
However, the success of this partnership will hinge on the ability to effectively integrate PMG's strategies with Solo Brands' overall business objectives. It will be important to monitor key performance indicators to ensure that the marketing spend translates into tangible business outcomes like increased sales and market share.
The appointment of Michael McGoohan as Chief Growth Officer and Executive Vice President is a significant development for Solo Brands. His extensive background in consumer goods marketing could provide valuable insights into consumer behavior and brand positioning. McGoohan's experience with brands like Mondelez International indicates a proficiency in managing products that resonate with a broad audience, which is essential for customer acquisition and brand engagement .
With the outdoor products market experiencing growth, particularly as consumers seek recreational activities amidst a changing lifestyle landscape, Solo Stove's expansion of its marketing capabilities could capitalize on this trend. However, it's important to assess if the marketing strategies employed will be adaptable to shifting consumer preferences and economic conditions.
Investors should look for evidence of strategic alignment between Solo Brands' product offerings and PMG's media campaigns. The effectiveness of the marketing efforts should be evaluated against industry benchmarks for customer acquisition costs and lifetime value. Any misalignment could result in inefficient use of resources and a dilution of the brand's core message.
PMG's track record with digitally native brands is of particular interest. The digital landscape is constantly evolving and brands must navigate algorithm changes, privacy regulations and platform updates. PMG's experience in this domain suggests they are well-equipped to manage these challenges and drive online customer engagement for Solo Stove.
The emphasis on precision excellence in performance marketing indicates a focus on measurable outcomes, an essential component of digital marketing. By leveraging data and technology, PMG can optimize campaigns in real-time to ensure Solo Stove's marketing spend is as effective as possible.
While the partnership has the potential to drive growth, it's important to remain agile. Digital marketing can be highly volatile, with consumer attention spans waning and platform effectiveness changing rapidly. Continuous testing, learning and adapting will be necessary to maintain the momentum of Solo Stove's marketing initiatives.
03/20/2024 - 09:00 AM
–Change marks refresh of marketing efforts under Solo Brands’ new leadership–
DALLAS & GRAPEVINE, Texas --(BUSINESS WIRE)--
Solo Brands, Inc. (NYSE: DTC) (“Solo Brands” or “the Company”), a leading omnichannel lifestyle company with beloved brands such as Solo Stove, Chubbies, ISLE, Oru Kayak and IcyBreeze, announced today the addition of PMG to its esteemed roster of agencies. PMG, a global independent marketing solutions and technology company, has been appointed as the media Agency of Record (“AOR”) for Solo Stove, the Company's flagship brand. In this capacity, PMG will be responsible for the brand’s full-funnel media efforts – including integrated strategy, media planning & buying, as well as insights and technology – to drive Solo Stove’s long-term business growth.
Through the new partnership, Solo Brands aims to improve marketing efficiency, increase demand, and deepen the connection with consumers through effective holistic media planning and precision excellence in performance marketing. To service the account, PMG will leverage the data-driven insights and intelligence from its proprietary Alli marketing technology platform.
"We’re thrilled to collaborate with PMG to unleash the full potential of our media capabilities and to improve our marketing effectiveness on Solo Stove," said Michael McGoohan, Chief Growth Officer and Executive Vice President of Solo Brands. “We believe Solo Stove has tremendous growth potential by leveraging a fully integrated marketing program, which will allow us to deepen our connection with existing consumers and engage new audiences. PMG's data-driven approach and track record of success with digitally native brands makes them the right media partner to expand our reach and secure long-term success for the Solo Stove brand."
The selection of PMG as the media agency of record is part of Solo Brands’ plan to evolve its marketing strategy and partnerships, under the Company’s new executive leadership. McGoohan joined the Company last month in the newly created position of Chief Growth Officer, bringing more than 20 years of consumer goods marketing and strategy experience at companies including Mondelez International, Central Garden & Pet, and Performance Health.
“The Solo Stove brand and its leading portfolio of outdoor products have catapulted into the cultural conversation,” said George Popstefanov, Founder & CEO of PMG. “We want to capture that interest by pairing it with a strategic, data-informed media strategy to give it the pull-through it needs to help scale its growth through customer acquisition and increased brand engagement. We’re excited about the possibilities of what we can do together.”
Solo Stove adds to PMG’s deep retail industry expertise and portfolio of omnichannel customers which include Beats by Dre, Kohler, Rothy’s, and TheraBody.
About Solo Brands, Inc:
Solo Brands, headquartered in Grapevine, TX , is a leading omnichannel lifestyle brand company. Leveraging e-commerce, strategic wholesale relationships and physical retail stores, Solo Brands offers innovative products to consumers through six lifestyle brands – Solo Stove and TerraFlame, known for firepits, stoves, and accessories; Chubbies, a premium casual apparel and activewear brand; ISLE, maker of inflatable and hard paddle boards and accessories; Oru Kayak, innovator of origami folding kayaks; and IcyBreeze, maker of portable air conditioning coolers.
About PMG:
PMG is a global independent marketing and technology services firm that seeks to inspire people and brands that anything is possible. Driven by shared success, PMG uses business strategy and transformation, creative, media, and insights, along with our proprietary marketing intelligence platform Alli, to deliver Digital Made for Humans™. With offices in New York , London , Dallas/Fort Worth , Austin , Atlanta , Costa Rica , and Cleveland , our team is made up of 900 employees globally, and our work for brands like Apple, Intuit, Experian, Whole Foods, Kohler, CKE Restaurants and Sephora has received top industry recognitions including Cannes Lions and Adweek’s Media Plan of the Year.
Named to Ad Age’s 2023 A-List, MediaPost’s 2022 Independent Agency of the Year, and Adweek’s 2021 Breakthrough Media Agency of the Year, PMG has grown through commitments to continuous improvement, business integrity, and cultivating dynamic relationships. PMG is proud to be named among Fast Company’s Best Workplaces for Innovators, Fortune’s 2023 #1 Best Workplaces in Advertising & Marketing and Best Workplaces for Women, and to be the only company named to Ad Age’s Best Places to Work nine years in a row. For more information about PMG, visit www.pmg.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240320841519/en/
PMG Media Contact:
david.labar@pmg.com
Solo Brands Media Contact:
SoloBrandsPR@icrinc.com
Source: Solo Brands, Inc.
What agency has been appointed as the media Agency of Record for Solo Stove by Solo Brands?
PMG has been appointed as the media Agency of Record for Solo Stove by Solo Brands.
What is the ticker symbol for Solo Brands, Inc.?
The ticker symbol for Solo Brands, Inc. is DTC.
Who is the Chief Growth Officer and Executive Vice President of Solo Brands?
Michael McGoohan is the Chief Growth Officer and Executive Vice President of Solo Brands.
What is the goal of the partnership between Solo Brands and PMG?
The goal of the partnership is to improve marketing efficiency, increase demand, and deepen the connection with consumers through effective media planning and performance marketing.
What technology platform will PMG leverage to service the account for Solo Stove?
PMG will leverage its proprietary Alli marketing technology platform to service the account for Solo Stove.
