Social media management platform provider Hootsuite has announced the acquisition of analytics firm LiftMetrix to further bolster its portfolio and give organisations greater insight into their social campaigns.
The two companies have been partners for several years, with LiftMetrix being one of the primary players in Hootsuite’s open partner ecosystem – and with return on investment (ROI) practically a necessity in today’s marketing landscape, the deal makes sense in terms of getting as much data as possible to customers. Hootsuite cited a study from the CMO Survey, which found only one in five marketers are able to prove social’s impact quantitatively despite a huge increase in spend.
“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,” said Ryan Holmes, Hootsuite CEO in a statement. “LiftMetrix will be a fantastic complement to the Hootsuite platform.”
“By joining Hootsuite, we will be able to offer increased value to our existing enterprise customers around their paid, earned and owned social initiatives,” added Nik Pai, LiftMetrix CEO and co-founder. “It’s exciting to be part of a company with Hootsuite’s velocity and trajectory.”
Hootsuite has certainly been busy in recent months when it comes to beefing up its capabilities. This publication covered the company’s move in July last year to integrate with Dropbox, Google Drive, and other content repositories, and speaking to MarketingTech in August, Omar Kaywan, senior global product marketing manager, explained the importance of different forms of ROI.
“It depends what you’re doing; sometimes social ROI could be the fact that you have a cost savings on your customer service efforts, or from a marketing perspective it’s sometimes focused on delivering leads,” Kaywan said. “There is no particular statistic to focus on, but from an elementary perspective, tweets, likes, retweets, shares are all important to capture.”
Picture credit: Hootsuite