Stirista Acquires Customer Portfolios, a Strategic Lifecycle Marketing Provider
While many martech firms are retracting in 2023, Stirista is looking at expansion. The data-driven marketing company is acquiring Customer Portfolios, a Boston-based strategic lifecycle marketing provider, in a bid to bolster its customer acquisition marketing solutions with an integrated first-party data platform.
“We are thrilled to welcome the talented team at Customer Portfolios to the Stirista family,” said Stirista CEO Ajay Gupta. “Their expertise in strategic lifecycle marketing will enable us to enhance our suite of data-driven marketing solutions for our customers beginning with first-party data and strategic insights through the execution of optimized omnichannel campaigns.”
The addition of Customer Portfolios’ technology should help accelerate Stirista’s growth in the financial services, hospitality, and major retail space. Customer Portfolios comes with a roster of high-profile clients, including Lindt, Journeys, Boden and Frye.
Stirista is best known for its micro-targeted multichannel marketing solutions, working with Fortune 500 and mid-market brands like Great Clips, Oracle, and Verizon. In 2021, Stirista launched CrossWalk, a geo-attribution intelligence and segmentation solution, to great fanfare. The momentum from that launch has continued, with the company experiencing significant growth in recent years. Stirista has also developed a reputation for providing innovative data-driven marketing solutions to clients across a range of industries.
Customer Portfolios also has an impressive backstory. The company’s proprietary Strategic Lifecycle Marketing platform generates customer profiles that retailers can use to execute automated, omnichannel strategic marketing initiatives.
Customer Portfolios has been able to maximize customer value by giving retailers a detailed understanding of customer segments, their future value, the next best product offer, discount, timing, and how much to invest by customer segment and marketing channel.
Despite the successes that Stirista has seen in recent years, it’s still a challenging time for many martech and adtech firms. Acquisitions are less common today than in 2021 or 2022. Nearly 30% of major advertisers say they plan to cut their ad budgets into next year, according to a World Federation of Advertisers survey, and 74% say the economic downturn is influencing their 2023 budget decisions.
By joining forces with Customer Portfolios, Stirista is hoping to defy the industry trends and deliver even better services to its clients. Stirista will be integrating Customer Portfolios’ platform over the next three to six months.
Customer Portfolios’ team of around two dozen employees will be joining Stirista, as well.
“Often consumer-facing brands miss the mark in their brand promise of permission-based marketing because they operate very tactically and siloed competing against other internal departments working a different channel,” said Nick Godfrey, co-founder and executive vice president of strategy at Customer Portfolios. “We’ve helped some of the world’s most well-known and prestigious brands solve the broken customer experience problem by looking at the complete view of their customers first. Our integration with Stirista will empower brands and their agency partners by providing the profile ‘full package’.”