Vancouver-based Hootsuite has announced that it has acquired New York-based LiftMetrix, which offers a tool to measure the return on investments on social media platforms. This marks Hootsuite’s second acquisition this month.
The addition of LiftMetrix will allow Hootsuite’s users to create more effective marketing campaigns as they will gain insights into the return on investment (ROI) of their paid, earned, and owned social media marketing campaigns. With access to LiftMetrix’s tools, social media marketers will be able to monitor and drive the impact of their campaigns through social-to-web conversion tracking, content recommendations and insights, and social data-warehousing and integration with business intelligent tools.
“It’s critical for marketers today to prove the impact of social advertising on the company’s bottom line,” said Ryan Holmes, CEO of Hootsuite. “LiftMetrix offers easy-to-use analytics solutions that helps our customers make sense of data to maximize social marketing results. LiftMetrix will be a fantastic complement to the Hootsuite platform.”
This deal comes two weeks after Hootsuite announced the acquisition of AdEspresso, which allows small and medium-sized businesses to split test every aspect of their Facebook and Instagram campaigns.
“By joining Hootsuite, we will be able to offer increased value to our existing enterprise customers around their paid, earned, and owned social initiatives,” said Nik Pai, co-founder and CEO of LiftMetrix. “It’s exciting to be a part of a company with Hootsuite’s velocity and trajectory.”
LiftMetrix and Hootsuite have previously worked together through Hootsuite’s ecosystem of partners and applications. The terms of the deal were not disclosed.