| Hey Insiders, Today's newsletter features several exciting marketing updates: - JCPenney's $1B company revamp plan
- CNN's newly appointed CMO
- A ranking of the most culturally resonant brands
If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Isabel
p/isabel | |
| 1 | | A survey by Nielsen reveals that as of Jul. 2023, CNN had 534,000 primetime viewers, trailing significantly behind MSNBC and Fox News, which had 1.12 million and 1.57 million primetime viewers, respectively. The news network has been adversely affected by the ongoing decline in traditional broadcast and cable TV viewership. 
What the numbers say: S&P Global Market Intelligence reports that CNN’s subscribers dropped from 85 million in 2020 to 70 million in 2023. Additionally, the network’s advertising revenue plummeted 33% to $563M during that period. According to Nielsen, cable TV viewership dropped 12.5% YoY from Jul. 2022 to Jul. 2023, and for the first time, broadcast and cable TV accounted for less than half of the total TV viewership. Relevance: CNN recently appointed Mark Thompson as CEO. Thompson has held executive leadership positions at the New York Times and BBC. The Warner Bros. Discovery Inc.-owned news network is betting on Thompson to help restore its success and reputation. Brands that should care: Brands that advertise on broadcast and cable TV should follow the market trends regarding viewership to determine which channels they should advertise on. Q: What can cable networks like CNN to do gain more viewership and attract more advertisers amidst the decline in broadcast and cable TV viewership? Let us know here. |     | |
| 2 | | U.S. department store chain JCPenney recently announced plans to invest more than $1B by FY 2025 to promote growth and improve customer loyalty. These efforts are part of the company's "Make it Count" campaign. More: - The reinvestment plan includes implementing an enhanced customer strategy, upgrading digital capabilities, and optimizing merchandising/supply chain operations.
- According to a press release, "Make it Count" refers to JCPenney's pledge to customers that their money and time spent shopping at the department store chain is truly worth it.
Zoom Out: - In FY 2022, JCPenney expanded JCPenney Beauty, announced new product collaborations, refreshed several stores, and improved digital shopping.
- In 2020, JCPenney filed for bankruptcy but was acquired by Simon Property Group and Brookfield Asset Management.
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| 3 | | A new report from The Marketing Arm has named Amazon, Apple, Google, and Target among the most culturally resonant brands. A Cultural resonance score was calculated based on each brand’s recognition, alliance, engagement, and advocacy. More: - The Marketing Arm assigned scores to over 4,000 brands using Q1 2023 data from BERA Brand Management.
- Amazon was ranked the most culturally resonant brand, followed by Google, Crayola, Apple, and Target.
- The results for the Gen Z audience differed, with YouTube, Apple, Marvel, Target, and Google ranking as the top five.
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| 4 | | Coca-Cola has teamed up with creative technologist and artist Troy Ni to create more aesthetically appealing QR codes that promote the Coke Studio music platform. The campaign features five illustrative QR codes that direct users to a music video. More: - Coke Studio is Coca-Cola's global music platform featuring well-known and emerging artists, an online record store, immersive experiences, and more.
- The campaign aims to boost OOH engagement, with QR codes placed at movie theaters, stadiums, theme parks, and other locations.
- The QR codes take users to a different moment in the "Be Who You Are (Real Magic)" music video by Jon Batiste, created with Coke Studio.
- In July, Coca-Cola added a generative AI experience to Coke Studio.
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| 5 | | Cloud-based configure, price, and quote (CPQ) management solution Experlogix recently announced the expansion of its B2B commerce solutions to North America. The company's platform became generally available in North America in late June. More: - Experlogix is headquartered in the Netherlands and the U.S. and aims to create superior digital experiences for buyers, clients, distributors, and dealers.
- According to a press release, Experlogix specializes in eCommerce solutions, inventory management systems, and analytics tools.
- Experlogix software is equipped with ERP system integrations, including SAP Business One, Microsoft Dynamics, and Sage.
- The company's offerings are already available in the EMEA region and globally.
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| 6 | | Massachusetts-based B2B software company Kaon Interactive has launched "The B2B Engagement Podcast." The show features in-depth conversations relating to various aspects of the B2B world. More: - The podcast discusses prevalent challenges among B2B marketing and sales teams, strategies to drive customer engagement, innovations and strategies leveraged by the world's largest companies, and the sectors of IT, life sciences, and industrial.
- Episodes are available via Apple, Spotify, Google Podcasts, and the Kaon Interactive website.
- The first three episodes featured noteworthy guest speakers like Scott Baker, CMO and VP of IBM Hybrid Cloud Portfolio and Product Marketing, and other prominent executives.
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- The Federal Trade Commission (FTC) has won a lawsuit against TurboTax software maker Intuit over the company's deceptive advertisements, which offered "free" tax filing products that were unusable.
- Adtech startup Aditude has raised a $15M Series A funding round led by Volition Capital. The company plans to use its fresh funds to hire additional staff, focus on product development, and bolster sales and marketing.
- Google-owned health and fitness tracker Fitbit has been accused of breaking the EU's GDPR rules regarding user data. EU regulators allege that the company has been illegally exporting user data.
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INSIDE MARKETING LEADERBOARD (30 DAYS) |
 | Freelance Writer & Editor | | Isabel Guerriera is an Inside Freelance Writer and Editor currently living in Madrid, Spain. Isabel is originally from Brooklyn, New York, and holds a BA degree in Journalism and Public Relations from SUNY New Paltz and a MA in TESOL Education from CUNY Hunter. Her areas of interest are startups, space exploration, international politics, and climate science. Some of her favorite ways to spend her free time include hiking, traveling, reading, and writing fiction/poetry. | | This newsletter was edited by Vibha Chapparike | |
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