I have been thinking what it meant for RightNow since the news came out about their acquisition of HiveLive.
For the past few weeks, I have seen RightNow share price dip a bit and hit sits on the kumo for support.
With the HiveLive acquisition, it took me a while before I figured out what’s in it for RightNow.
And it become more apparent when I read up about HiveLive’s platform in greater details.
In essence, HiveLive’s product allow customers to create their own social networking sites but with a twist. But, what’s so great about social networking sites?
And that is when I think it makes sense. HiveLive’s targeted customers are companies. In my opinion, they are targeting Marketing departments that wants to use social networking sites to conduct market survey, gather feedback etc.
Right there, at the heart of all these is ‘customer focused’ activities.
And what does it means to RightNow?
With HiveLive’s platform and sales force, RightNow has
- increased their product and service offerings
- they can now use HiveLive’s customer base and up-sell or cross-sell their CRM services and vice-versa
I am sure somewhere within RightNow’s sales pipleline or existing customer projects, there are requirements that needs such a platform (social networking or portal of some sorts).
At this moment, immediate concern is the added operating expenses.
But, if the enlarged sales force and increased product offering can help generate more revenue and increased profits, then it will not be a major concern.
I will be interested to find out more. Perhaps, someone from RightNow can provide more details here.