- WPP acquired influencer marketing agency Goat, which employs greater than 150 people in three global offices, in keeping with an organization release.
- Goat has worked with brands resembling Dell, Beiersdorf, Meta, Tesco, Uber, EA, Natura and Augustinus Bader. It will grow to be a part of GroupM, WPP’s media investment group, and will likely be merged with the holding company’s current influencer marketing company, Inca.
- The merged unit will go to market as Goat and can employ greater than 300 individuals and have a presence in greater than 30 markets all over the world.
WPP’s growth strategy through mergers and acquisitions continues, with its latest deal pointing to an expanding commitment to influencer marketing, a very important tactic for brands seeking to capture consumers’ social media attention. Advertiser spend on influencers will top $6 billion in 2023, in keeping with a forecast by research firm Insider Intelligence.
In a mirrored image of how influencer marketing is being integrated into broader performance marketing programs and scaled globally, the merged Goat will operate as a part of the cross-channel performance organization GroupM Nexus.
“[The acquisition] gives us the power to deliver accountable, cross-channel, and data-driven influencer solutions for clients anywhere on the earth,” noted GroupM global CEO Christian Juhl, in the discharge.
Nearly two-thirds of marketers (65%) plan to extend their influencer marketing budgets in the following six months, in keeping with Capterra’s 2023 Influencer Marketing Survey. At the identical time, many marketers are unclear on their return on investment in these programs. According to the research, 41% of marketers imagine they’re overpaying influencers, underscoring the necessity for data-driven solutions out there.
WPP in February 2022 acquired influencer marketing agency Village Marketing, with its founder telling Digiday soon after that the deal was an indication of how influencer marketing is becoming less siloed. In the past six months, WPP has acquired agencies including 3K Communications, Fenom Digital, Diff, Passport, Jeffrey Group and Newcraft.
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