Brand analytics platform Upwave has made a product acquisition, acquiring the search analytics technology and code base from Croft Analytics, a marketing science consultancy.
The investment in ShareofSearch, the website and technology that enables marketers to chart trends in Google search volumes and share of search for up to 40 terms, follows the recent sale of Upwave’s legacy survey and analytics platform business, Instant Insights.
Upwave is not acquiring Croft Analytics. It is acquiring the technology behind ShareofSearch. “The move puts Upwave deeper into brand analytics,” said Chris Kelly, CEO of Upwave, formerly Survata. “It lets you keep an eye on how your search metrics performs compared with competitors.”
There’s a need for more effective brand measurement solutions, from search to connected TV. The deal provides Upwave with access to “share of search” data, providing a complete view of brand awareness and market share.
The deal will offer brands more relevant and ongoing insights into brand awareness and recall, for the first time extending beyond specific campaign measurements.
"We're laser focused on getting the share of search data across regions, time frames, and categories," he said. “Our job now will be to tie it to all the other data we have. We learned that search is a key piece of the puzzle for the CMO.”
Frank Harrison, founder of Croft Analytics, and a former senior agency executive at Publicis, will join Upwave’s advisory board. He believes that measuring search activity is a well-known and widely accepted barometer of brand health.
The acquisition of the new search analytics capabilities is intended to improve on Upwave’s position in CTV and brand-marketing analytics.