With Facebook's IPO scheduled for the 18th this month, many are questioning the nearly $100 billion valuation. No one argues that individuals and companies of many shapes and sizes currently use facebook as a marketing tool. The argument boiling around Facebook is whether advertising on Facebook works. Most social websites that drive revenue through selling ad space have proprietary tools that measure ROI. However, Buddy Media hopes to remove the "anarchy" of social media marketing and give deeper insight to advertising across multiple social media sites with its new unified social media API.
The social media API allows marketers to track conversions and campaigns across multiple social media sites (e.g. Facebook, Pinterest, Google+, Youtube, etc.) from a single enterprise social media suite. CEO, Michael Lazerow, commented that Buddy Media alone can "provide a unified solution that helps our customers organize their teams, optimize their social programs to provide real business results, and repeat." Buddy Media goes far beyond tracking "shares" and "likes." With the API, developers can integrate data gathered (e.g. actions taken, sales conversions, etc.) with existing email and CRM packages.
Buddy Media boasts that 8 of the world's top 10 brands already utilize its social media suite. Key clients include L'Oreal, Virgin Mobile Live, Carnival Cruise Lines, Mattel, HP, UNFPA, Lenovo, and the NFL. The NFL's General Manager of Digital Media, George Scott, confidently backed the new API: "The unified social media API will allow us to collect social data across the league and use it to better inform all of our social marketing decisions."
Buddy Media expects a unified approach to social media will attract greater use of their suite because of the ever-expanding use of social media marketing. During the release, Buddy Media reported that studies show "companies now average 178 social corporate media accounts, and that number will likely increase."