Magnetic Continues European Expansion With Its First German Office
Digital advertising technology company, Magnetic today announced it continues to expand its business across Europe with a new office in Hamburg. Magnetic is bringing search retargeting, a technological approach that leverages intent data for retargeting, to agencies and advertisers in the German Market. The company analyzes billions of searches, which represents one the strongest indicators of customer interest and intent, to more precisely define audiences for advertisers and agencies, and optimize the delivery of display advertising.
According to comScore, billions of search queries (nearly 30%) occur each month outside the major search engines, such as Google. Magnetic's technological approach is based on one of the largest pools of intent data available, collected from partner publishers such as price comparison and product review, vertical, and e-commerce sites. Search and site data are especially strong indicators for identifying a user's intent to buy along their path to purchase. Specific target segments and keywords are defined from a wide range of search analysis data and in a later step, the user is shown relevant display advertising, which influences purchase decisions.
Neal Brüwer, a British-German dual national, will lead Magnetic's first German office as Country Manager. After taking his first career steps in the United Kingdom, Neal Brüwer then spent more than ten years in a number of positions in online marketing in the German market. He began as Senior Sales Manager at Vibrant Media, then became founder and Managing Director of Centrin Media and the Dynamic Project Group, and has also worked as manager for Sales and Business Development at Facilitate and Outbrain. He most recently served as CMO of Roombeats.
"With his profound understanding of the technology and excellent network in Germany, Neal Brüwer is the ideal choice for Magnetic to establish our business in Europe’s second-largest market for online media," says Luke Hayter, Vice President EMEA at Magnetic. "Starting as the market leader for search retargeting in the U.S., we had a very successful launch in the U.K. just one year ago and now have more than 30 people at our London office. We are entirely convinced that we can offer an excellent product to advertising customers in Germany, as well."
Magnetic's proprietary technology supports the context-based analysis and scaling of purchase intent from search queries captured beyond search engines, as well as the delivery of display ads that are targeted specifically to the user's search behavior –across devices from desktops to smartphones and tablets.
Neal Brüwer adds: "With the intent data retargeting approach, we give advertisers a product that combines the search activity and buying intent of potential shoppers. With one of the largest sources of search data and our media platform built for intent, we deliver custom-tailored display ads in real time, over all digital channels and devices, for our advertising customers' target audiences.”
The increasing importance of search retargeting is reflected in Magnetic’s global revenue, growing 257% since 2012. To leverage the opportunities presented by search retargeting on a wider range of devices, Magnetic formed a strategic alliance with Tapad, a leading technology provider for cross-device advertising delivery, in October 2014. Additionally, in June 2014, Magnetic acquired European-based dynamic creative firm Cognitive Match. The company is also entering the French market in parallel to the DACH region launch, rapidly driving its course of international expansion.