GroupM consolidates data reporting for its comm, biz dev with COMvergence
MUMBAI: GroupM is consolidating the reporting and analysis of its commercial and business development data with COMvergence, an independent, international research company collecting and analysing data from the global marketing services groups, and the marketplace, to provide quarterly reports and more accurate benchmarks for the scale of media agencies’ client billings.
GroupM has worked with COMvergence as a data source for more than three years, each year adding additional markets in a progressive push to consolidate its data reporting with the most accurate resource available. Per the terms of the new global agreement, COMvergence will ensure the accuracy of its methodologies and reporting with annual third-party auditing by an accredited auditing firm.
“COMvergence has taken an open approach to building its methodology and partnerships for data collection and tabulation, giving us the confidence that when we share data from their benchmark reports to clients and their pitch consultants, it is the most accurate and validated view of the size and scope of our business and competitive set across the globe. Our industry truly needs a focus on accuracy and transparency in this area,” said GroupM Global Chief Growth Officer Elizabeth McCune.
According to COMvergence’s most recent global billings and market share reports, GroupM is the number one media investment group for 2018, with $ 45 billion of cumulative billings and 28.8% market share (based on the total billings for the big 6 groups). In addition, three of GroupM’s agencies – Mindshare, Wavemaker, and MediaCom – are in the top 10 rankings for global media agencies.
Feeding COMvergence’s analysis and reports are data from independent, third-parties like Kantar and Nielsen, as well as other research firms, agency performance evaluation companies, and financial analysts. COMvergence also tracks and digests information from the most reliable and respected international and local trade press titles, as well as industry associations including the World Federation of Advertisers (WFA) and the American Association of Advertising Agencies (4A’s). These strategic alliances are critical to delivering unparalleled research products, market analysis, and methodologies. COMvergence also conducts face-to-face meetings and proprietary surveys with CMOs and advertising and procurement directors from the top 100 international advertisers.
“GroupM has been an extraordinary client partner. They, along with the major holding company media groups, have worked with COMvergence since our founding to develop accurate methodologies and a collection of local and global reports that provide true insight into agencies and their performance across the globe. COMvergence stands behind the veracity of our data, and we promise annual audits to provide our clients and the marketplace at-large with utmost confidence in our data and analysis,” said COMvergence Founder Olivier Gauthie.