Innovation Interactive Hunts For CRM, Analytics Acquisition
Innovation Interactive is on the hunt to acquire a customer relationship management (CRM) and analytics company to expand its offerings as it opens offices around the world.
Will Margiloff--CEO for the parent company of 360i, SearchIgnite and Netmining--said that Innovation Interactive collects, stores and controls "an immense amount of data on behalf of brands, and providing more valuable insight into how they can reach their customers more effectively will become an important step for us."
Declining to point toward any specific companies, Margiloff said that during the next couple of months more executives will realize their businesses are not companies, but rather products looking for a home. "Many will look to park their business within a more stable company with a diverse set of offerings," he told Online Media Daily.
Innovation Interactive expanded into Japan and acquired a behavioral targeting business in Brussels last year. The moves helped to boost revenue by more than 30% in 2008, compared with 2007.
On Wednesday, Innovation Interactive reported it has made a foray into the United Kingdom. James Yancey, former managing director of 360i's Atlanta division, will head the London office and drive expansion efforts abroad.
With the move, Innovation Interactive brings into the U.K. an array of new tech services such as search campaign management that rely on optimization and predictive modeling. Another service that has not caught on, but will become available, is behavioral targeting-- including technology that recognizes what consumers do in real time, as well as pages viewed during a prior visit to help drive conversions.
Margiloff said it's easier to bring technology into a new market, rather than services. So, Yancey will spearhead efforts to hire local employees who understand the U.K. market. "We don't plan to turn James into an Englishman," he said. Aside from tech offerings, the move provides a platform to launch agency-related solutions such as digital word-of-mouth, digital media and creative work.
Other changes in the works include SearchIgnite offering more optimizing search marketing by adding marketing display advertising to help advertisers focus on one approach to search and display.
About 275 employees support clients, up from 200 last year. The company doesn't plan to lay off anyone, either, Margiloff said. "We've had a couple of very solid years, but a few of our customers are having issues and challenges with the current economy," he said. "The level of services we need to provide customers is even higher now than in previous years, and that is why we continue to invest in other companies."
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