J.D. Power Acquires Korrelate
WESTLAKE VILLAGE, Calif., April 23, 2014 — J.D. Power, a business unit of McGraw Hill Financial, today announced the acquisition of Korrelate, an Orlando-based company that analyzes consumers’ online behaviors and links this information to offline sales activity. Terms of the transaction were not disclosed.
Using Korrelate’s insights on consumer online shopping behaviors and J.D. Power’s Power Information Network® (PIN) data on actual new- and used-vehicle retail transactions, J.D. Power will be able to identify which websites and ad campaigns shoppers are exposed to before they buy their vehicle. Those insights will provide analysis on the effectiveness of automaker, dealer and third-party websites as well as ad campaigns.
The acquisition will firmly place J.D. Power in a position to further guide the automotive and advertising industries in their online investments. Korrelate’s unique privacy-safe way of matching anonymous online behaviors, combined with new-vehicle retail sales data from PIN, will create an unparalleled data and analytics platform to measure the effectiveness of digital advertising spending.
“Consumer behavior is changing dramatically in today’s Internet-powered world,” said Finbarr O’Neill (pictured), president of J.D. Power. “The auto industry spends billions of dollars annually on digital marketing. Measuring online activity and linking it to actual vehicle sales will enable marketers to measure and optimize their digital strategy.”
This acquisition will allow J.D. Power to provide actionable insights to help automakers, dealers, third-party automotive websites and advertising agencies to quickly and accurately evaluate their websites and online marketing efforts. Additionally, it will help ad networks and online publishers accurately report the effectiveness of those online ads, all with the same, transparent metrics.
“Offline sales measurement is the future of the automotive industry’s efforts to measure the success of online campaigns,” said Christian Kugel, vice president of consumer research and analytics at AOL, a Korrelate client. “This metric, combined with traditional key performance indicator (KPI) measurement, creates a more complete, 360-degree view of how to evaluate campaign success. J.D. Power’s acquisition of Korrelate is a smart move, and once again shows their commitment to bring scalable, accurate vehicle sales measurement to the forefront of digital automotive metrics. We look forward to working with J.D. Power to redefine how the automotive industry measures the success of online campaigns.”
About J.D. Power and Advertising/Promotional Rules http://www.jdpower.com/about-us/press-release-info
About McGraw Hill Financial www.mhfi.com
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