The Approach Behind Jumpshot’s Strategic Partnership with Ascential
The Jumpshot offices are buzzing today with big news—the announcement of our strategic partnership with Ascential. You can read the press release to get the broad picture on the overall benefits and the numbers, but the way I’m thinking this morning has less to do with ownership share and everything to do with clarity and velocity.
Ascential and Jumpshot both seek to help companies understand eCommerce sales by analyzing large streams of data that measure how products are bought and sold within the online retail industry. On the Jumpshot side, we consider how the devices in our 100 million panel search for, consider and ultimately purchase products anywhere they’re sold online through Jumpshot Insights.
Ascential are major experts in marketing and sales in the eCommerce age—they organize the Cannes Lions ad conference and own the consultancy Medialink—and their analytics products, Edge by Ascential, help maximize performance and ROI by benchmarking a brand’s performance against their competition and offering a suite of analytics tools to help optimize price, promotion, inventory and other retail tactics. So off the bat, there’s an intuitive overlap in the services and metrics Jumpshot and Edge provide. But what makes us excited isn’t just a confluence of similar positions and strategies. We hope to also amplify our products by combining underlying data that help provide our products.
One major growth component that will benefit Jumpshot and our product is the advances in categorization. At Jumpshot, we’ve put a huge effort into centralizing how products are broken out across the eCommerce landscape. To continue to make essential strides in measuring eCommerce market share across domains, we need to be able to compare brands selling in the same category. This means assigning the appropriate categories to thousands and thousands of brands in ways that make sense for the customers we serve. The strategic partnership with Ascential will better able us to understand and incorporate the methods Edge by Ascential use today for categorization with their 600+ customers. This collaboration will help our data to be more accurate and intelligible, and it will help us put that data in front of the right people in organizations that are building out their analytics capabilities.
The end result is to provide across-the-board consistency to clients. We want to speak the same language so that the analytics we provide are useful right away. We want our metrics to be clarifying. We want brands and retailers to learn something they’d never considered, to uncover retail trends in the path to purchase that helps them meet their customers’ needs. By combining the Jumpshot and Ascential approaches we’re enthusiastic about making our insights more accurate and more actionable.
In that same spirit, at Jumpshot we’re thrilled to gain a partner that will provide more of what we call “ground truth” data. Our data on consumer actions doesn’t cover everyone shopping and browsing online, it reflects a portion of the total set of behaviors. Our proprietary method of projecting to the population, or calibrating the numbers we see, have proven to be incredibly accurate. As we strive to continue to be leaders in marketing data analytics, it is important as a company we continue to look for more data to help refine and improve our calibration capability.
We’re building the most accurate way to understand consumer behavior online and consumer trends, and with Ascential’s partnership, we’re able to inject our research and development programs with incredibly helpful data that will improve our products. Ascential is already working with hundreds of brands, so we’re also eager to learn about the specific ways each uses data and might put our more refined and powerful analytics to work in-house. At the same time, we’re gearing up to expand to new markets and sectors of the economy to bring data-driven insights to more customers.
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