Have you heard of social marketing and engagement platform Vitrue? Well it was just acquired by enterprise content management giant Oracle, with plans to add its capabilities to the Oracle Cloud.
Delivering a Complete CXM Platform
Oracle has been making a number of enhancements to its Customer Experience Management (CXM) Platform. Most of this we have seen around the WebCenter updates, which included new capabilities for marketers to build and manage interactive and social experiences. And this latest acquisition is going to help with those experiences even more.
Vitrue is a a private company based out of Atlanta, Georgia. With its Vitrue Social Relationship Management (SRM) platform, Oracle can now provide its customers the ability to monitor social activity across all social networks and manage the interactions that take place between the company and customers. This includes both a global and local perspective. Currently, Virtue manages 1.3 billion social interactions across 500 brands.
Specifically, the SRM platform now provides Oracle with the following capabilities:
- Social Media Publishing to all the major social networks (Twitter, Facebook, Google+, etc..)
- Custom Facebook Modules for branded landing pages, fan-gated pages, games etc..
- Social Commerce
- Social Analytics
All of this functionality is required for today's organization to support the social experiences that customers demand.
Delivering a Cloud Platform
Vitrue is a SaaS solution, so it fits in nicely with the Oracle Cloud.
Oracle plus Vitrue
The Vitrue platform will be the foundation for Oracle's social marketing capabilities, and will continue to be available after the acquisition.
Oracle had this to say about the acquisition:
The proliferation of social media and an increased demand by consumers to engage with brands across multiple social channels is driving chief marketing officers to look for an integrated social marketing platform,” said Thomas Kurian, executive vice president, Oracle Development. “Vitrue’s leading social marketing and engagement platform coupled with Oracle’s leading sales, service, and commerce products offers a complete social experience solution to our customers.”
These days it's always faster to acquire the technology and talents you need to compete in CXM, and Oracle is no stranger to acquisitions. Also, although it does seem a bit late for Oracle to be growing its social capabilities, the reality is that many organizations are just starting to see the benefits and build strategies around social engagement.
The deal is expected to close sometime this summer. After that, we should expect to see the Virtue integrated into the Oracle Cloud and Oracle's CXM platform.