Hootsuite has bought social analytics company LiftMetrix, building on the company’s recent momentum in social marketing.
The acquisition of LiftMetrix means that Hootsuite enables organisations to drive more effective marketing campaigns by giving them tangible insight into the ROI of their paid, earned and owned social campaigns.
“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.
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.
Earlier this month, the company announced the acquisition of AdEspresso, a self-service solution for Facebook and Instagram advertising optimisation. The acquisition of both AdEspresso and LiftMetrix bolster the company’s social marketing solution.
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.
“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.
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.