Yahoo Inc. joined hands with WPP's GroupM, WPP Digital, and 24/7 Real Media to recently announce a partnership that would now enable WPP agencies to purchase digital display advertisements across the Internet with appreciable efficiency.
Mark Read, WPP's Director of Strategy and CEO of WPP Digital, said at the press conference that the need for media agencies to collaborate with technology companies in order to reach a new level of value is increasing with each passing day.
The collaboration between Yahoo Inc. and the WPP group would initially involve the WPP’s 24/7 Real Media and GroupM. The work with 24/7 Real Media will include the development of a media-trading platform that would connect to Right Media Exchange, a part of Yahoo Inc. and result in highly targeted advertising and cost-effective marketing.
To add to Reed’s statement, Hilary Schneider, EVP, Global Partner Solutions for Yahoo, said that Yahoo is thrilled to partner with WPP in this era of marketing, where marketers are using new approaches to understand the customer psyche and attract more customers, and is keen on enhancing their digital presence by providing innovative solutions.
Another item on the agenda is to develop an online marketplace for WPP agencies and increase their visibility on the Internet and provide better access to their services. Third-party publishers will also have access to this marketplace.