Data is the MVP of the marketing game, but it’s everywhere. The question is how to decipher it to make better decisions.
Brands are looking for a “very quick way” to measure the results of their marketing investments, said Jeff Mason, president of Power Digital, which announced Thursday its acquisition of boutique marketing consultancy Sproutword.
“Challenging times are ahead of us, and brands need to do more with less,” Mason said.
That’s where the information comes in.
Power is betting on combining data and analytics with digital strategy and creative.
Sproutword’s proprietary Polaric platform combines a client’s marketing spend with customer and product data, which together “provides a powerful view of how your business should be run,” said Kevin Biondi, co-founder of Sproutword.
Polaric provides clients with automated insights into their key KPIs, business health and actions they can take to better understand their customers and measure their business. “We call it an operating system for our clients to run their ecommerce business,” Biondi said.
Power Digital will integrate Polarick with its own machine learning-powered marketing analytics platform, called Nova, with the goal of giving customers and the Power Digital team a real-time window into marketing campaign performance, media spend and results.
More broadly, Nova helps clients master their individual marketing channels and recommends a road map for how to meet a specific goal, such as revenue growth or brand lift. All data from Polaris will feed into Nova.
With the increasing number of media channels and outlets, interpreting data becomes difficult. Nova’s goal is to provide more transparency into what’s going on under the hood, Mason said.
Power Digital declined to share the financial terms of the deal, but the purchase of Sproutword is its fifth acquisition in four years.
Since 2019, Power Digital has acquired SEO and content company Factorial Digital, PR agency Covet PR, technology platform DataQ (to make ad spend more efficient) and, most recently, digital media buying and creative agency SocialMethod to bulk up its social media offerings. for .
Looking ahead, “we anticipate more activity in the M&A environment,” Mason said. “We want to continue to help our brands grow and we want to grow ourselves.”
The addition of Sproutword’s 30 employees brings Power Digital’s total headcount to 580.