Attracts Outside Investors To Fund Software Development Efforts
BOSTON–Pamet River Partners has secured commitments from investors and plans to recast itself as a technology-driven marketing firm with expertise in database management.
The shift from traditional direct marketing and media advertising was triggered in part by the addition of French publishing giant Hachette Filipacchi as a client earlier this year. Pamet, founded five years ago by former Ingalls, Quinn & Johnson president Vin Cipolla, has opened a Paris office, helmed by Inge Selawry, to service Hachette.
The Boston-based shop was hired to help Hachette comb through the databases of its 37 French magazines, searching for consumer data and circulation and subscription trends that would prove useful in formulating marketing campaigns, said Pamet executive vice president Marian Dunshee.
That assignment, and similar work for clients British Telecommunications in London and Fannie Mae in Washington, D.C., introduced the agency to a potentially lucrative niche: developing software to sift through vast amounts of data to facilitate marketing efforts, Dunshee said.
Pamet has attracted investors to support software development and produce its own database applications. “We want to sell [clients] a physical thing” in addition to consulting services, Dunshee said.
The investors are Roger Kennedy, a past director of both the National Museum of American History and the U.S. National Park Service, and Mort Myerson, who has served as chairman and chief executive of Perot Systems. Both Kennedy and Myerson will serve as advisors to Pamet. Kennedy becomes chairman of the agency’s eight-person board of directors, Dunshee said.
Cipolla, Kennedy and Myerson were unavailable for comment last week.
“This might be a way in the door, a way to broaden the relationship” with clients, offered Bill Davis, chairman of Holland Mark Martin Edmund in Boston, and chief executive of affiliated database marketing company TPC in Burlington, Mass.
“In a lot of big organizations, consolidated views of a customer base are difficult to get. So the need is there,” said Kim Mayyasi, executive vice president of MSP, a database marketing firm in Boston.
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