Meredith Marketing Buys Word-of-Mouth Companies
Meredith Corporation, a marketing company that specializes in print, broadcast and interactive marketing, has purchased two word-of-mouth agencies: Genex, which deals in customer relationship marketing, and New Media Strategies, which deals in interactive word-of-mouth.
The company wants to enhance the Meredith Publishing Group (MPG) B2B division with services that help companies communicate with their customers. Genex and New Media Strategies both have been around since the late 90s, and handle major name-brand clients like Honda, Citigroup, ABC, Coke and Unilever.
Meredith itself handles accounts for companies like DaimlerChrysler and DIRECTV.
“Adding Genex and New Media Strategies to our group further deepens our ability to help our clients build their brands with a wide variety of creative and effective marketing solutions,” said MPG president Jack Griffin in a statement. “These capabilities now include interactive strategies, innovative website development, word-of-mouth and Web 2.0 marketing programs, online media, and experiential events.”
Last year, Meredith bought interactive firm O’Grady Meyers to bolster its interactive marketing abilities in consumer packaged goods industry. “This deal sends a strong and clear signal that word-of-mouth is no longer niche,” added New Media Strategies CEO Pete Snyder.
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