Etsy seeks new creative agency

Etsy has sent out a request for proposals for its creative advertising business, Ad Age has learned. A decision is said to be imminent, according to multiple people close to the situation. An Etsy spokesperson confirmed the review. More news on accounts in review Check out the latest Ad Age events and award programs “We are reviewing our current creative advertising account and will have news to share soon,” the brand said in a statement. “We are proud of all the successful work we have partnered with 72andSunny to create.” 72andSunny wasn't available for comment.Read more: Agency news to know about While it’s unclear if 72andSunny was Etsy’s lead agency, the Stagwell shop had been responsible for many of its main brand campaigns since early 2020, when the agency won an RFP for the Brooklyn, New York-based online marketplace’s holiday campaign. That work, which marked a turning point for Etsy toward more narrative-driven marketing, received industry recognition at a time when shoppers were eager for brand stories. One spot told the story of grandparents who, due to the pandemic, could not see their grandchildren over the holidays in person but were still able to exchange handmade gifts and visit virtually. One of several pandemic darlings, Etsy thrived when locked-down consumers purchased its wares or started crafting and selling themselves. That streak has largely continued—Etsy reported a 12.6% rise in revenue, to more than $807 million, for the quarter that ended Dec. 31. Performance and brand marketing Etsy spent over $581 million on worldwide advertising expenses in 2022, according to its annual report, up from over $559 million spent in 2021 and over $442 million spent in 2020. The company has increased its global profile in recent years through acquisitions. Two years ago it purchased Elo7, which some describe as the Brazilian version of Etsy, for $217 million. Etsy also acquired fashion marketplace Depop and owns second-hand musical instrument site Reverb. On a recent earnings call, CEO Josh Silverman spoke about testing online marketing for Elo7 in particular as the site tries to drive brand awareness. Overall, Etsy leans into both performance and brand marketing, though the majority of its budget goes to the former category, the company said on its earnings call. For the fourth quarter, Etsy increased its marketing spend by 20% to $245 million compared to the year-earlier period. Performance marketing was up 29% in the quarter and brand marketing rose 12%. Check out the latest Ad Age events and award programs In addition to growing internationally, Etsy is focusing on increasing its male customer base, executives have said. Late last year 72andSunny picked up creative agency of record duties for Sonos and Zillow.

Etsy seeks new creative agency

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