Wes Nichols, co-Founder and CEO of MarketShare Partners discussed the deal and the benefits of the combined companies.
AdExchanger.com: Explain the fit between JovianData and MarketShare Partners from your potential, future client's perspective.
WN: Marketing “ROI” has never been more critical to marketers. There has never been so many paths to consumers, and it has never been as hard to accurately measure.
Data is fundamental to advanced marketing optimization. However, handling the increasingly large volumes can take valuable time and money. Adding JovianDATA's capabilities automates and streamlines MarketShare’s data processing and analytics, allowing faster, immediate decisions for our clients. This will help our clients and agency partners by providing more frequent, detailed, on-demand updates to objectively make cross-marketing decisions.
As an example, a global travel company with great analytic capabilities now uses MarketShare’s platform after we found nearly 10% improvements in new customer acquisition by more accurately attributing impact of both offline and online marketing activities on one another. By adding JovianDATA’s platform, it will help us optimize their online and offline marketing decisions faster for this client and our other our clients.
The combination of MarketShare and JovianDATA will create a powerful, predictive marketing investment optimization platform for our clients.
The terms of the deal were not disclosed as both companies are privately held. All JovianDATA employees from San Jose and Bangalore have become MarketShare employees, and Parveen Jain, the founder (and former EVP Strategy and CMO of McAfee), has joined our Advisory Board.
In your release, you note the challenges of handling "big data." In general, can you characterize the efficient use of data in digital advertising today in comparison to what is possible a few years out? What will be the differences?
Until today, it has been virtually impossible to connect all the dots across digital marketing investments and then further connect these to on and offline sales. With MarketShare’s analytics platform combined with Jovian’s capabilities, not only will it be possible to do this with an integrated set of metrics and capabilities but we also are able to connect to offline. We will now be able to integrate billions of data points and optimize across them very quickly.
The obvious benefit is real-time resource allocation and decisioning for marketers, which leads to better results and more sales. And, for the first time, actual transparency and objectivity fuel the decision-making.
In a nutshell, and in light of today's acquisition, what is the positioning for MarketShare Partners today? Any acronyms applicable?
The only acronym our clients care about is ROI! And with the economic challenges continuing, the pressure is only mounting so our focus is on helping companies more with less.
MarketShare makes marketing activities more efficient and effective by marrying advanced analytics with our client’s intuition. Intuition has never been more important but it also has never been as challenging to make the best decisions considering the complexity of the landscape.
Our analytics drive budget decisions at the marketer level – how much should we invest, which products get what investments, which markets get what level of investment, how much should go online versus offline, and within this, how much should be in television, search, display, video, print, social, mobile, out of home, in-store, and the like. Our platform is the navigation system for our clients.
As the world’s consumer behavior, marketing options and technologies continue to rapidly evolve, the requirement to help enable these investment decisions become more complex, more data intensive and more computationally extensive. MarketShare is building the platform that will ultimately enable these decisions in a just-in-time, fragmented world.
By John Ebbert