Bloomberg Media is launching a B2B marketing services group in an effort to diversify beyond media such as TV, radio, magazine publishing and digital properties, according to The Wall Street Journal. The group will work closely with Kinection, the company’s recently launched custom content studio, to help B2B advertisers establish marketing strategies and content for Bloomberg outlets and media properties using intelligence and data.
“We have a solid programmatic stack and could definitely expand that for partners, but our intent is not to take on the low-margin aspects of the agency business in any way,” Jacki Kelley, COO for Bloomberg Media, told the Journal. “This is more the intelligence and data aspect—the work that really frames the strategy.”
Additionally, Bloomberg has hired Steve Fueling to lead the group as Global Head of Marketing Services at Bloomberg Media. Prior to joining Bloomberg Media, Fueling was previously the U.S. CEO of media agency Vizeum.
“There are lots of brands we’re creating content for where we’re certainly replacing an aspect of what a creative agency used to do for them,” Jacki Kelley, COO for Bloomberg Media, told the Journal. “Our intent is not to remove an agency from the process. It’s to be additive to a client agency of record.”
“We can package together a suite of services that either solely supports a client as a marketing services division, or bolt on to an agency and help them prove the capability, she added.
Kelley continued to say that the B2B group is a “diversification of revenue,” and an opportunity to fill “a gap in the industry to service B2B clients.”