How This Marchex Partnership Will Impact Facebook
After Marchex announced a partnership with Facebook on Thursday, its shares saw a solid gain.
[cnxvideo id=”655422″ placement=”ros”]After Marchex Inc. (NASDAQ: MCHX) announced a partnership with Facebook Inc. (NASDAQ: FB) on Thursday, its shares saw a solid gain. With this partnership, Marchex is looking to integrate its Omnichannel Analytics Cloud to optimize spend across Facebook’s channels.
A recent study by BIA/Kelsey expects that phone calls to businesses via smartphones will be over 100 billion this year. Ultimately the study concluded that this makes the ability to measure and gain insights regarding consumer behavior in an omnichannel sense critical to developing and refining a successful marketing strategy.
Facebook is partnering with Marchex to ensure that the most reliable and advanced call analytics are available to marketers. As one of the most important touchpoints, Facebook has an incredible influence, but ad exposure on social media can be difficult to tie back to phone calls or in-store purchases. This partnership is looking to eliminate this blind spot by giving marketers a deep understanding of what happens on a phone call that stems from a Facebook ad.
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By forming this partnership, Facebook is looking to use this level of insight and ability to immediately measure cross-channel impact to convert more prospects into customers.
Doug Weiss, product partnership manager at Facebook, commented:
At Facebook, we know how powerful a mobile device is, and we’re proud to have created one of the most powerful platforms for global brands to reach their audiences. With that power comes an acute responsibility to provide accurate data that enables brands to understand how this engagement on Facebook might be driving interactions off of Facebook. Partnering with Marchex to couple rich call analytics with Facebook’s own data is a significant step forward for marketers who must understand their audience and make sound, real-time decisions to increase their revenue.
Shares of Marchex were trading up 20% at $3.05 on Thursday, with a consensus analyst price target of $3.75 and a 52-week trading range of $2.46 to $4.68.
Facebook shares were last seen down 0.3% at $133.86. The consensus price target is $159.21, and the 52-week trading range is $98.88 to $135.49.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
