Toronto-based Influitive, an advocate marketing company, has acquired a fellow Canadian startup, Engagio.
While neither company disclosed the value of the transaction, word on the street is that Engagio, a social web platform for searching, discovering and following social conversations, was picked up for around $1 million.
As part of the acquisition, all Engagio employees, including its founder William Mougayar, will join Influitive. Influitive says it will integrate Engagio's innovative suite of social technologies into AdvocateHub.
Studies show that peer recommendations and authentic user feedback are the primary factor in up to 50% of all B2B purchasing decisions. Influitive helps B2B marketers take advantage of this shift by mobilizing their advocates and fans to share their experiences across the social web. This approach, called advocate marketing, involves tools and best practices that are proven to improve brand recognition, website traffic, search rankings, lead generation and sales conversion.
"Every day a new community site, blog or social hub springs up where people recommend products and share user experiences. Each represents an enormous opportunity for B2B marketers to connect potential buyers with enthusiastic customers," said Mark Organ, CEO of Influitive. "Engagio's technology will help marketers discover these conversations and share them with advocates who can join the discussion and promote their brand."
"We are excited to join the leader in the emerging advocate marketing space," added Mougayar. "Our combined solution makes it easier for marketers to tap into the enthusiasm of customers, partners and employees. The ability to quickly discover relevant social conversations and then instantly orchestrate effective advocate participation is a powerful combination."
Influitive launched in 2012. It's headquartered in Toronto with offices in Boston and San Francisco.