Index IntroductionContextUsesAdvantagesDisadvantagesCostly RelationshipsProblems with FacebookHigh Costs for TeamsMarket PositioningPopularityUser TestingConclusionIntroductionSocial networking has taken over the entire world. Be it Facebook, Twitter, Instagram or any other platform, social networks have given every user a unique perspective and a different approach to life. In the 21st century everything is a competition, every inspired human being sets out to create something new and innovative and thus comes up with revolutionary ideas that truly have the power to change the entire world. Something similar happened when Hootsuite was created. Its existence has made a huge difference to its users, thus redefining the meaning of business management. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay BackgroundOriginally this revolutionary process began with Brightkit. This was just an idea that later became the foundation of Hootsuite. Brightkit was a tool for users who had multiple Twitter accounts and therefore using this tool they could manage all their different accounts. In 2009, Brightkits' name changed to Hootsuite, as did its features. The creator, Holmes, has made significant progress in developing Hootsuite by adding Facebook and LinkedIn to its dashboard. In late 2009, Hootsuite became an independent company known as Hootsuite Media, Inc. and suddenly became a global phenomenon. He soon received funding from companies such as Hearst Interactive Media, Blumberg capital and Leo Group, LLC. This was just the beginning of their success as stock prices began to rise and companies like OMERS Ventures began to take interest in the upcoming business by investing $20 million in the company. Over the years, Hootsuite began to grow, making such a big difference for entrepreneurs that in early 2017 it secured $50 million in growth capital from CIBC innovation banking. A unique idea that has helped thousands of people earn a living, it is truly something truly remarkable in a growing economy. Usi Holmes saw many people and organizations having trouble managing multiple social accounts online, so he created a platform that helped his users manage and monitor their social networking channels in one place. This helped these organizations provide effective customer support as they could now know what people were saying about their product and immediately allow them to help and respond to their customers. This platform has made the life of old businesses, who had just started marketing online, and start-ups very simple. Benefits Tracks multiple accounts in one place It's why Hootsuite was created in the first place: to manage multiple different social accounts in one place. Posting to multiple accounts at the same time is also an added benefit as it saves real time. If an emergency situation occurs, notifying all customers will be an easy job to add to the set of benefits it offers. A team helps you manage your business Hootsuite has a team management feature that allows users to assign responses to different team members. This helps to divide responsibilities thus working in a systematic way. Communication between team members is easy as Hootsuite's messaging feature allows members to interact with each other effectively. Accessible on different platforms Hootsuite can work on many platforms such as Mac OSX, Windows, Linux andmobile platforms, which gives it a distinct advantage. This gives them the ability to reach every consumer and therefore no one is left behind, allowing them to expand their parameters and reach across the globe. Get reports via email Not only is Hootsuite used for business purposes, but it is also used by basic consumers to manage their accounts. If it is only used to manage multiple accounts, a very useful feature would be the weekly analytical reports. Hootsuite does too much to make everything easier for its consumers. Send reports (. pdf) containing graphs showing different things such as: number of clicks per day, most visited websites and geographical information about the people who visit. Nothing in this world is perfect, so everything including its advantages has its disadvantages and there are some disadvantages related to the successful company known as Hootsuite. Cons Expensive Reports There is no doubt that Hootsuite has done an incredible job when it comes to customer satisfaction. they are not perfect. Hootsuite provides users with reports on their work and although the first 2 reports are free, the consumer will have to spend another $50 to purchase points through which users can get more reports. There are unfair charges Hootsuite charges small businesses, charges that don't affect large businesses much. Problems with FacebookMany people use Hootsuite to manage their accounts and receive relevant reports. However, with Facebook things are not so simple as Hootsuite does not record the person's likes, dislikes or comments in reports. This could upset people who want their information compiled and stored. High Costs for TeamsHootsuite has complicated a lot of things for the basic user, on top of that they have also made some pricing updates for Teams. So to use this feature users must now purchase the team plan which can only include 3 users, at a cost of 34.99/user/month. If the consumer requires more than 3 members, they would have to pay for the business plan which costs $7000 per year, an offering that would force many emerging businesses to look for other means of running their online business. Having its pros and cons, one should not forget that Hootsuite has been around since 2008 and is still going strong. A great company tends to lose its way along the way, and the downsides show exactly what it has lost. Hootsuite was born because Ryan Holmes wanted to help people and organizations and therefore they should continue to do so, but considering everyone, adapting the price for each company based on their current position in the market, keeping everything fair for long-term users so like the new ones. Market Positioning In the economic world Hootsuite is performing very well, securing markets all over the world. It has truly become a leader by securing 34.8% of the market. It would be abnormal to say that a leader has no competitors because that's exactly what Hootsuite has. Many people have followed in his footsteps and built some pretty cool companies. Leveraging the idea established by Ryan Holmes companies such as buffer, social sprout; Oktopost, Shortstack and Spreadfast have joined Hootsuite. Despite having a 10.1% market share, Buffer is the first and closest to competing with Hootsuite. But if you look closely the difference between these two is of great proportions. While Hootsuite is a complete dashboard buffer for social media management, it only cares about pre-scheduling content. However, people tend to use these two tools together to schedule social media posts more efficiently. Sprout social is in third place as a competitor to Hootsuite with a market share of.