On a buying spree, Hootsuite adds analytics provider LiftMetrix
Following its purchase of adtech firm AdEspresso two weeks ago, the new acquisition will boost Hootsuite’s ability to demonstrate ROI.
In its second acquisition announcement in two weeks, social media management platform Hootsuite said this week that it has purchased social analytics provider LiftMetrix.
The Vancouver-based Hootsuite said the addition of New York City-based LiftMetrix will help social media marketers understand something they don’t currently: return-on-investment. The difficulty of measuring ROI has been a frequent complaint from marketers since the dawn of social marketing, since the impact can be diffuse and difficult to trace.
Hootsuite pointed to Duke University’s The CMO Survey, which showed that social media marketing budgets have increased 234 percent over the past seven years, but only about a fifth of marketers can demonstrate the specific impacts.