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Hootsuite Just Got Better After Acquiring LiftMetrix
The dust has barely settled on news that Hootsuite had acquired social ad tech firm AdEspresso around two weeks ago and yet a new acquisition has been announced by Hootsuite’s. In its second acquisition announcement in two weeks, social media management platform Hootsuite said that it has purchased social analytics provider LiftMetrix in a bid to leverage the companies ability to demonstrate ROI. Which can only be good news for Hootsuite users, they're simply getting more bang for back and with a consolidated offering, Hootsuite is pulling away from other social media management tools as the race to be the preferred choice for social media marketing and management.
A long-standing partnership
A typical how we met story, not really but LiftMetrix was previously one of Hootsuite's top partners in Hootsuite's extensive open ecosystem that supports more than 250 best-of-breed partners and applications to help extend social media into existing critical systems across the entire organisation.
Hootsuite sees social media management growth
The addition of LiftMetrix to Hootsuite's social marketing solution enables organisations to drive more effective marketing campaigns by giving them tangible insight into the ROI of their paid, earned and owned social campaigns. Coming on the heels of Hootsuite's recent acquisition of digital advertising technology leader AdEspresso, LiftMetrix continues to build on Hootsuite's momentum in social marketing. "It's critical for marketers today to prove the impact of social advertising on the company's bottom line. LiftMetrix offers a sophisticated, yet easy-to-use analytics solution that helps our customers make sense of data to maximise social marketing results.
LiftMetrix will be a fantastic complement to the Hootsuite platform," said Ryan Holmes, CEO of Hootsuite. As social media matures, marketers are increasingly tasked with demonstrating business impact and ROI from social marketing and advertising efforts. According to the CMO Survey, social media spend has increased 234% over the last seven years to 11.7% of marketing budgets, but only 20.3% of marketers are able to prove the impact quantitatively.
Recognised by Gartner as a "Cool Vendor" in Social Marketing for enabling marketers to "design more effective engagement strategies and improve ROI," LiftMetrix allows marketers to better understand the business impact of social media. Through this acquisition, Hootsuite adds to its powerful analytics platform to measure the full social conversion funnel - delivering end-to-end ROI measurement from posts thru to purchases.
Liftmetrix will offer Hootsuite users
- Sophisticated social campaign analysis across paid, owned and earned media to maximise performance
- Social-to-web conversion tracking to help prove the value of social initiatives
- Easy-to-understand content recommendations and insights
- Social data-warehousing and integration with business intelligence tools
"LiftMetrix helps our team by easily turning data into specific insights and recommendations. Our digital team can make strategic decisions based on the deeper level of business intelligence LiftMetrix provides and we are seeing positive results," said Andrea Sanchez, digital product specialist, GEx Digital, Grupo Expansión, a leading international media publisher. "Hootsuite has been a key LiftMetrix partner for several years. By joining HootSuite, we will be able to offer increased value to our existing enterprise customers around their paid, earned and owned social initiatives. It's exciting to be part of a company with Hootsuite's velocity and trajectory," said Nik Pai, co-founder and CEO of LiftMetrix.
Possible reasons for the shopping spree
The two acquisitions in such a short period of time have raised questions around what could be happening behind the scenes at Hootsuite. Rumours have emerged that they're looking to beef up Hootsuite for a possible initial public offering, based on what it says is a user base of 10 million. Exciting times for the social media tools and for social media marketers. For more on the announcement visit Hootsuite
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