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Hoot, Hoot: Social Media Tool Hootsuite Eyes Growth

Vancouver, Canada-based HootSuite which turns 5 on Thursday is a market leader among companies providing tools that monitor and manage social network posts. HootSuite is used by more than 8 million customers in more than 175 countries from individuals to 744 of the Fortune 1000. Its enterprise clients include the likes of Pepsico, HBO, Virgin and CBS Interactive. The stellar growth attracted $165 million in venture capital financing in August one of the largest VC deals of the year and the largest VC funding ever for a Canadian software company. Now comes the hard part: HootSuite must continue to increase market penetration and revenues around the world. It has to introduce new products in an evolving social media market. And it has to do all this while combating a growing number of competitors. Analysts and investors say the company should overcome these obstacles given its track record. "HootSuite has proven itself to be really nimble and when the market has changed it's adapted," says independent technology analyst Carmi Levy. The HootSuite dashboard is an easy-to-use tool that allows users to execute, coordinate and monitor social marketing campaigns across a range of platforms, including Twitter, Facebook, Google+ and others. People can use it to launch campaigns, program posts for certain times and channels, and monitor the response among users. In October, the company said third-quarter revenue was 150% above the same period a year earlier. The privately held company does not disclose specific financial details. Having tripled its workforce to 300 in 2012, it has increased staffing this year to 400 employees and is still hiring. Founder and CEO Ryan Holmes said the company is now focusing on geographic expansion beyond its core markets of the U.S. and Canada.
See More: http://www.usatoday.com/story/tech/2013/11/28/hootsuite-social-media-opportunities/3621225/

Social Media Ads Are More Cost-Efficient Than Other Types Of Digital Advertising

Beard trim at Astor barber shop You can sign up to receiveSocial Media Insights here or at the bottom of this post. BI Intelligence Neustar is out with its third quarter installment of the "Global Media Intelligence Report," and the key takeaway is that social media advertising is better performing, at a more cost-efficient price, than other marketing channels portals, networks, and exchanges. First, it's important to understand the differences between the channels that were looked at in the study. Neustar defines them as such: Exchange: http://ericwelke.com/utilize-social-media-for-small-business/ Technology platform that facilitates the bidded buying and selling of online media advertising inventory from multiple ad networks. Network: An aggregation of ad ad space supply from publishers and matching it with advertiser demand. Portal: A website that bring information together from diverse sources in a uniform way (e.g. Yahoo). For its study, Neustar analyzed approximately 140 billion ad events, 60 billion impressions, and 32 million conversions. In the third quarter, social media ads had a 34% higher performance than the average across all channels. For the first time in the study's history, social media now leads all other channels in Neustar's "reach efficiency" index.
See More: http://www.businessinsider.com/social-media-ads-are-more-cost-efficient-than-other-types-of-digital-advertising-2013-11

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