Lithium Acquisition Results in Social CRM Platform
Updated · May 13, 2010
Lithium Technologies says it will fully integrate newly acquired Scout Labs’ social media monitoring and analytics into the Lithium platform while continuing to offer Scout Labs’ solution as a stand-alone product. According to the company’s news release, integrating the technology in to the Lithium platform will create a Social CRM platform that empowers companies to listen, engage, and act on their social customers’ conversations across the web.
“Scout Labs’ broad coverage of customers’ conversations on the social web augments Lithium’s applications for fostering customer interactions and developing brand advocates within a community. Together they create a strategic platform for listening, engaging, and acting on customers’ conversations wherever they occur.
“Recognizing the need for a social media monitoring tool that delivers insights to a large number of people quickly, Scout Labs began developing its product and recording data in 2006, and honed the application through a series of private beta cycles in 2008. Since its public release in February 2009, the company has added over 350 clients, with the growth rate averaging 35 percent quarter over quarter. Many Scout Labs clients have experience with other social media monitoring solutions, but turn to Scout Labs when multiple functional areas across the organization need actionable social media insight to make more customer-centric business decisions.”