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Ad Men Seek Acquisitions for 'Customer Centric' Company
Advertising industry pioneers George Wiedemann and Kenneth Lomasney have established Wiedemann & Lomasney (W&L), a holding company aimed at creating a 'customer centric marketing services firm'. The partners plan to announce a first buy before the end of the month.
Wiedemann was the founder of Grey Direct and Lomasney of Market Knowledge, Inc. Both are making personal investments in the new firm, whose mission is described as 'creating a customer centric marketing services firm over the next 10 years'. Their acquisition strategy plans to 'join complementary service companies into a unified, new model enterprise.'
Wiedemann joined Time Magazine in 1968, moved to become President of Claritas in 1976 and helped develop the demographic overlay technologies still used today in database marketing. He then prepared Claritas for sale to VNU, now The Nielsen Company. He worked for Wunderman before being invited in 1980 to found Grey Direct, by Grey Advertising CEO Ed Meyer. He led Grey Direct (now G2 Direct and part of WPP) for 21 years. He has since worked for and led commercial email firm Responsys, Rewards Network and Harte-Hanks Partners.
Lomasney began his career at software company Comshare, Inc., then in 1984 founded Market Knowledge Inc. which grew into one of the world's major providers of database marketing and analysis services. He sold the company to Equifax Information Services in 1996, and has since led the consulting division of Grey Global Group, New York, MDS Global Consulting (now G2 Knowledge Consulting) and his own marketing consultancy and analytic services firm, the Fury Group (www.furygrp.com ).
Wiedemann, Chairman & CEO of the new company, comments: 'The task is to re-approach marketing communications organized around focus on customers and prospects and how they want to interact with brands as opposed to a mainly product/channel/outbound approach. Since more strategies are information-based, the challenge is also to bring together the data/analytics/metrics side of the business with the creative engagement side in a way that drives accountable revenues. We want to help clients embrace customer centricity.'
Adds Lomasney: 'We have the luxury of building a marketing services firm nearly from scratch where all of our disciplines equitably work together. We are delighted to be able to create and establish a services business that starts with the right approach.'
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