Building on an existing collaboration, Sydney-based email marketing company Campaign Monitor has announced the acquisition of Tagga, a customer data tool that will be integrated with the Campaign Monitor platform to allow businesses to track and visualise customer’s behavioural data. The terms of the acquisition were not disclosed.
Tagga, founded in Vancouver, serves global brands including Red Bull, Adidas and Flight Centre through an online platform where marketers are able to grasp a “360 degree” view of customers through social media and email marketing platform integration.
According to Benj Fayle, Tagga’s CTO, the acquisition will see Campaign Monitor users able to generate insightful derived from Tagga’s “customer intelligence” data.
Customer data will be visualised in the form of an individual profile, which is formed using information including a customer’s recent browsing activity, social engagement trends, location and purchase history.
The Tagga integration will also be able to track a customer’s interactions with a brand’s platform, detailing information such as if and when they abandoned their shopping cart by exiting the browser.
Using the data, Campaign Monitor outlined that businesses will be able to make better use out of the platform’s automation tool, which will now be able to send different electronic-direct emails (EDMs) based on information such as a customer’s spending over a period of time.
The business also highlighted that brands will now be able to effectively track how each individual subscriber converts after they click on an email, as they’re able to specifically see the type and value of items a customer purchases after opening a link.
Campaign Monitor CEO Alex Bard said the acquisition reflects the rapid growth of the data and CRM industry, which is predicted to grow to a US$36.5 (AU$47.5) billion global industry by 2017 up from an rough US$20 (AU$26) billion placement in 2013, according to a forecast from Gartner.
“Data is the fuel of the future. It’s growing faster than ever before and marketers need to continually capture that behavioural data, extract insights and take action,” said Bard.
“With Tagga, Campaign Monitor will be the marketer’s behavioural data-driven CRM, powering more effective ways for marketers to engage with customers.”
Campaign Monitor’s last acquisition was of survey tool GetFeedback in late 2014 following a mammoth US$250 million capital raise. The acquisition saw Campaign Monitor take over GetFeedback’s San Francisco office and bring on its team, allowing it to establish a US presence.
Similarly, the Tagga team will continue working out of their Canada office.
Image: Alex Bard. Source: Forbes.