It’s not about data, stupid. It’s about monetization!
Doug Ray, U.S. CEO of Carat, has been promoted to a major position in Carat’s holding group, the Japanese giant Dentsu Aegis.
As President of Product and Innovation, he’ll be expected to “pluck data and technology resources and expertise from the individual companies to cater to clients’ specific needs…”
This is a natural move that comes just six months after Dentsu announced it was acquiring data and CRM company Merkle, and after a shopping spree that included acquiring Accordant and Cardinal Path too.
Ray told the WSJ that “Data is really important now, but not all data is created equal…With the acquisition of companies like Cardinal Path, Accordant and Merkle, how do we bring those capabilities together in a way that tells a very simple story that clients understand and [so they can] leverage those capabilities in a more connected and joined up way?”
Indeed, agencies are beginning to understand that in the digital age, acquiring startups with superior capabilities is a must. Collecting data is crucial. But using it properly is whole other story. Productizing it in a way that answers the various agency needs and client demands is difficult. In short, monetizing all of these cutting edge technologies (and the capabilities that come with them) can be quite difficult for large corporations.
That’s why Doug Ray has his work cut out for him. And it’s a pretty safe bet that we’ll see more executives in Ray’s role at other agencies and media companies soon.