Hootsuite is making another acquisition in the social marketing arena. This time, it purchases LiftMetrix, a social analytics firm from New York. This acquisition came weeks after the company bought AdEspresso, a Facebook ads manager.
The company said that LiftMetrix would help its platform’s current social media analytics dashboard. It is designed for enterprises that are looking for methods in tracking and evaluating their ROI from social ad spending.
“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 maximize social marketing results. LiftMetrix will be a fantastic complement to the Hootsuite platform.” – Ryan Holmes, HootSuite’s CEO
With its last two acquisitions, it’s obvious that Hootsuite is improving its concept of social media ROI.
Weeks ago, Hootsuite announced that it had acquired AdEspresso with a deal that focuses on ad optimization and creation technology. It is geared toward companies that want more mileage from their advertising spend. The goal is quite similar to LiftMetrix, which offers tools that can help users in understanding, tracking and improving social media campaigns.
Monitoring and improving social media campaigns are vital to social media marketing. Content appears on social networks in various forms, such as organic, paid ads and promoted to get better visibility.
Although earned content is not going away, boosting its visibility is critical to the content’s success. Each social network platform has a filtration system. That said, brands must have a paid component to get their message to their fans and followers.
The financial terms of the AdEspresso and Hootsuite deal have not been disclosed. However, Hootsuite’s CEO said that it would be paid in cash and shares.
Hootsuite and Liftmetrix
For many years, Liftmetrix has been a vital player in Hootsuite’s ecosystem. In today’s social media marketing, ROI becomes a necessity, making the deal reasonable as it allows customers to get as much data as they can when they use Hootsuite.
“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.” Andrea Sanchez, digital product specialist, GEx Digital, Grupo Expansión
Hootsuite has been very busy in recent months to beef up its feature and capabilities. Last year, it included tools for Dropbox, Google Drive, and other similar platforms.
It’s about what you get from the time, effort and resources you have committed to social. Experts recommend that the best way to calculate social ROI is with a dollar amount.
You can’t find dollar signs from a retweet and likes that your post gets. The return in social media ROI can mean different things to a lot of marketers.
But before you can measure your social ROI, you need to know what you’re tracking and where you can monitor it. You must also consider your current and new customers. These things can hopefully be provided by LiftMetrix so as to assist businesses in measuring their social ROI.