Hootsuite bets big on boosting data

The social platform's third acquisition this year brings Snapchat analytics to an already growing offering.

Marketers have long looked for better ways to measure the effectiveness of campaigns on Snapchat, but a measurement tech acquired by Hootsuite may finally make that information more broadly available. It’s part of Hootsuite’s latest effort to strengthen its data offering for businesses.

The social media platform has acquired the Snapchat analytics platform created by Naritiv, a Los Angeles-based company born as an influencer network that brands could leverage in campaigns on Snapchat. Over the years, it had built its own analytics tool to measure how well content it produced was performing. It went on to be used by Disney, Fox, Coca-Cola, L’Oreal, Yoplait and Marriot Hotels.

For Hootsuite, this acquisition looks to bring Snapchat functionality to the company’s platform in the near future, giving brands a way to manage their campaigns on one of the fastest-growing social networks. It also gives them a solution to measure results from a company that has typically been stingy about making that data easily available (the best solution directly from the company has been to manually record story stats, which are only available to the person who posted it and for 24 hours after it is first posted).

This acquisition is the third that Hootsuite has made since February, all of which have been aimed at strengthening the data it offers business customers to better measure their ad spending in one of the few areas it is expected to grow in the near future.

At the beginning of February, Hootsuite acquired AdEspresso, a global Facebook advertising partner that allows business to split-test thousands of versions of campaigns on Facebook and Instagram and use the results to optimize those campaigns.

A few weeks later, Hootsuite acquired social analytics company LiftMetrix. As opposed to Hootsuite’s existing tools that measured things like engagement, LiftMetrix’s platform is focused on measuring return on investment through things like purchases, sign-ups and email acquisition.

Hootsuite has bought Naritiv’s tool, but not Naritiv itself, so the company will continue to operate as usual, using funds from the sale to focus more on its Snapchat content business. But a small number of Naritiv’s product team will be making the move to Hootsuite and will be the first employees in its new L.A. office.

Featured image courtesy Blogtrepreneur