Earlier this week, TechCrunch announced that HootSuite, a popular social media relationship platform, has acquired social media analytics firm UberVU in an effort to expand its analytics offering for social media campaign management.
According to the TechCrunch article, “Adding analytics, HootSuite will be able to provide more data to its customers about the social interactions it’s making with consumers” With 8 million users around the world, HootSuite has a significant market penetration but nearly 95% of users access the free version. Adding UberVu might improve adoption of HootSuite’s premium offering.
B2B marketers demand better analytics for measuring social media performance. As highlighted in a recent column Derek Edmond wrote on Search Engine Land, 70% of CEOs surveyed had lost faith in marketers because of their ability to provide concrete ROI data for their campaigns, according to a report by Fournaise Marketing Group. A recent article on MarketingSherpa indicates that 42% of marketers surveyed believe the ability to act on data to be the most significant challenge they face.
HootSuite is not the only social media management solution taking a more aggressive stance towards reporting. The social media tool Buffer have begun offering in-depth analytics data about user’s social media campaigns, as well as integration with Google Analytics to see how trends translate into real website traffic and conversions. In a blog post last year, we detailed the advancement of free analytics tools popular social media platforms are beginning to offer to their users.
More effective social media analytics options are important for B2B marketers because they may help in the translation efforts of social media ROI, cost per acquistion, and conversation rates.