Social media management company Hootsuite this week acquired social analytics company LiftMetrix.
The addition of LiftMetrix to Hootsuite’s social marketing solution enables organizations to drive more effective marketing campaigns by giving them tangible insight into the ROI of their paid, earned and owned social campaigns, the Vancouver company says.
“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,” said Ryan Holmes, CEO of Hootsuite.
According to a CMO Survey, social media spend has increased 234% over the last seven years to 12% of marketing budgets, but only 20% of marketers are able to prove the impact quantitatively.
“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, CEO of LiftMetrix.