Piano is tuning up its plan to develop into an even bigger participant within the social media sphere.
On Thursday, Piano, which supplies analytics and subscription companies for publishers, introduced its acquisition of social media income optimization platform SocialStream.
Piano declined to share what it paid, however the deal was a money buy, with funding coming from Updata Partners, Rittenhouse Ventures and Sixth Street Partners.
The plan is to make use of SocialStream’s experience in income optimization for social platforms to bolster Piano’s current service choices for publishers, mentioned Piano CEO Trevor Kaufman.
“Not solely does SocialStream present us with one other solution to service publishers, but it surely’s additionally a extremely wealthy supply of knowledge that offers them extra perception into viewers habits and preferences, which is precisely what they want,” Kaufman mentioned.
SocialStream’s retention-focused providing, for instance, will enable Piano to offer publishers with extra detailed information on the efficiency of their subscription enterprise, which ought to assist them to additional drive their subscription income.
“As a Piano writer, you’ll be capable to know, particularly, what social behaviors result in larger ranges of engagement, what varieties of content material individuals had been interacting with earlier than they wound up changing into habituated to the web site and how much topics in social result in subscription conversions or e-newsletter sign-ups,” Kaufman mentioned.
Piano was additionally bought on the power of SocialStream’s paid media enterprise and the way it might be used to focus on lapsed subscribers and cut back viewers churn, in addition to usher in new subscribers.
“We have a probability to subscribe propensity rating on each single customer, which we are able to map to look-alike audiences on Facebook,” Kaufman mentioned. “Piano has all the time acted purely within the owned-and-operated house of publishers. Now, we can assist publishers get new prospects and we can assist them retain their subscribers by activating these customers in social.”
Next up, changing into a part of Piano will assist SocialStream broaden its product providing to a extra world consumer base.
“The overwhelming majority of SocialStream’s income is in North America, and we noticed the chance to take their product to the broader stage,” Kaufman mentioned.
Piano at the moment has about 650 staff worldwide, and it plans to retain a majority of SocialStream’s 20-person staff. SocialStream’s management will tackle marketing consultant roles at Piano.
SocialStream will proceed to function as an impartial model for the brief time period. Piano has set a timeline of about six months for integrating their respective instrument units right into a single consumer interface.
Piano additionally has plans to make use of SocialStream as the muse for rising its social media enterprise by additional acquisitions which are at the moment within the works, in addition to persevering with to put money into SocialStream’s platform.