I’ll get right to the news. We’re very excited to announce today that ShopAdvisor has been acquired by Targetable, a fast growing provider of an innovative brand marketing platform for hospitality and restaurant organizations. For now, ShopAdvisor will continue to operate as an independent entity as we work to integrate our respective organizations and offerings over the next few weeks.
So why did we take this step? When you consider this kind of transaction there are some fundamental questions you ask yourself. Will this benefit our customers? Is there a natural market synergy between the companies? Will the company’s respective products enhance one another? Is there a good cultural fit? The answer to all of these is a resounding yes.
The past year has had an almost immeasurable impact on the hospitality, restaurant and consumer products industries. Reaching customers with the right offer at the right time with multiple options for getting the product that works best for them is what is expected. The result is a paradigm shift from “ trust me advertising” and marketing to precise, personalized engagement. The days of just throwing out impressions without attribution are over. Marketing, particularly proximity based mobile marketing is evolving fast. Branding and advertising campaigns must now incorporate historic trends, scientific demographics, location based relevance, customer preferences and intelligent targeting and timing. Furthermore, organizations want to be able to measure the success of their campaigns.
Unfortunately businesses, particularly small businesses, have neither the time nor the technical expertise to plan, create, execute and measure these new era campaigns. This is the problem that Targetable and ShopAdvisor have been solving for hundreds of companies spanning hospitality, restaurant, consumer products, health and beauty, food and beverage and more.
We’re confident that by combining our respective offerings, Targetable and ShopAdvisor will provide an unparalleled solution that marketers — whether restaurant owner operators, in-house brand managers, or digital agency service providers — will use to quickly and cost-effectively create intelligent, contextually relevant and targeted campaigns whose results can be measured to show actual sales lift and return on ad spend.
We look forward to telling you more about this exciting development in the coming weeks.