InMarket, the leader in real-time marketing and measurement, announced the acquisition of ChannelMix, a pioneering media mix modeling and marketing revenue optimization platform. This strategic acquisition will bolster InMarket’s data analytics and measurement capabilities, allowing leading brands to move beyond the rear-view mirror capabilities provided by traditional Media Mix Modeling (MMM) techniques and toward AI powered, real-time media planning. This includes the ability to instantly rebalance and optimize spend across channels to drive marketing effectiveness and ROI.
ChannelMix’s breakthrough Marketing Impact Modeling™ (MIM) platform is a privacy-first, ID-Independent solution recognized for its AI-predictive modeling, advanced cross-channel data integration, ability to easily tie marketing spend to sales and ease of use. The MIM platform accesses real-time granular data to generate actionable and timely recommendations for improving marketing performance, leads and revenue. By applying ChannelMix’s AI models to historic spend and performance data, brands can unlock new levels of growth and predict their future media mix performance with up to 99% accuracy.
ChannelMix analyzes over $12 billion in media spend across nearly 70 clients including Adidas, Maui Jim, Mercer, NBA, Tempur-Sealy International and more.
“We are excited to bring ChannelMix’s pioneering, next-generation solutions to InMarket’s clients,” said Todd Morris, CEO of InMarket. “In an era where data and real-time decision making is paramount for marketing efficiency and effectiveness, the integration of ChannelMix’s sophisticated analytics with InMarket’s industry-leading, real-time marketing and measurement capabilities will empower our clients to make more informed, data-driven decisions. This acquisition reinforces our commitment to providing the most comprehensive and effective marketing solutions on the market.”
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A fractured and evolving marketing landscape, including data deprecation alongside increased economic pressures, has made it imperative for marketers to partner with providers who can offer access to robust and flexible data and real-time advanced technologies. The addition of ChannelMix’s MIM platform combined with InMarket’s Lift Conversion Index® multi-touch attribution (MTA) solution gives marketers access to a unique and comprehensive measurement offering that blends real-time optimization with long-term strategic planning, advanced AI capabilities and privacy-first and compliant data integration capabilities.
The integration of ChannelMix’s platform into InMarket’s offerings comes at a time when the adoption and effectiveness of MMM is on the rise: In 2024, 70% of marketers will have increased their use of data analytics and MMM to better allocate their marketing budgets and improve ROI (Invoca). Additionally, businesses reported an average 20% reduction in media waste by reallocating budgets from underperforming channels to more effective ones (Think with Google), and 35% of brands achieved at least a 10% increase in their marketing ROI by optimizing their media mix based on MMM insights (Mediatool).
“ChannelMix’s Marketing Impact Modeling platform addresses the shortcomings of traditional analytics and MMM platforms, which often rely on outdated data and infrequent updates,” said Matt Hertig, CEO and Co-Founder of ChannelMix. “By integrating this cutting-edge technology and platform into InMarket‘s award-winning measurement suite, we can offer clients real-time, actionable insights and optimize their marketing spend across campaigns and channels with unprecedented levels of accuracy and speed.”
SOURCE: PRNewsWire