Hootsuite has acquired New York-based LiftMetrix for an undisclosed amount, the Vancouver social media management company announced February 22.
LiftMetrix provides tracking data and social campaign analysis which Hootsuite said will give users “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,” said Hootsuite CEO Ryan Holmes in a news release. “LiftMetrix offers a sophisticated, yet easy-to-use analytics solution that helps our customers make sense of data to maximize social marketing results.”
Hootsuite cited a CMO survey released in October that said while companies have increased their spending on social media by 234% over the past seven years to a total of 11.7% of their marketing budgets, only 20% of marketers are able to measure the impact in terms of dollars.
This is Hootsuite’s second acquisition this month. A couple weeks ago, it purchased AdEspresso, a digital advertising firm, also for an undisclosed amount.
@EmmaHampelBIV
