Social media dashboard Hootsuite announced on February 7th its acquisition of Facebook and Instagram SaaS solutions provider AdEspresso.
The purchase came in three months after Hootsuite allied with six other social ad networks in October 2016 in a bid to shift into paid advertising. No financial information was disclosed with regard to the recent acquisition.
Since its inception in 2008, social media managers have been using Hootsuite to establish their social media presence in various platforms including Facebook, Twitter, and LinkedIn, among others. With AdEspresso on board, Hootsuite now makes it easier for these managers to control their Facebook and Instagram ad campaigns.
Hootsuite explores social advertising with AdEspresso acquisition
Ryan Holmes, CEO of Hootsuite, said in an interview that the AdEspresso acquisition is a reflection of how social advertising has become a vital aspect of marketing. Today, not only do companies seek to simply engage its consumers, they also want to reap more benefits from their content and advertising spend.
This integration with AdEspresso, together with other partnerships including Kenshoo and Popimedia, will make the social media dashboard a more conducive place for social media managers to control paid and organic social channels from just one platform.
Paid advertising is a necessary step for brands to enhance their engagement with consumers, now that organic posts have reached a decline. Likewise, expanding to social advertising, as well as making new partnerships, can help further distinguish Hootsuite from other similar platforms.
Social advertising is the future
There are several elements to look into when it comes to social advertising. These include demographic, vertical, platform, and geography. In fact, social media managers can use all four elements as either an advantage or a basis for spending. The information brands and businesses stand to obtain using social advertising is extremely valuable.
Social analytics is trackable and undeniably a huge plus. The ability of social advertising to be segregated into elements makes it easier to track which ads actually work and which ads are causing businesses to lose money not to mention consumer demographics. This knowledge is powerful and can be utilized to develop campaigns, and develop them as they progress vis-à-vis investing in bulk sans any assurance of a return of investment.
Advertising is a dynamic sector and the industry is already seeing an increase in social advertising spend- companies would be smart to know when to strike. According to this great article on social advertising stats by Hootsuite: ‘Social media advertising budgets have doubled worldwide over the past 2 years going from $16 billion U.S. in 2014 to $31 billion in 2016.’
You can read more about the acquisition posted on Hootsuite right here.