Square, a local commerce platform has announced that it was integrating Facebook advertising into their growing CRM suite. Square is calling it “Customer Engagement.” Facebook Ads now joins email marketing as part of an growing toolset that’s layered on top of Squares core payments and POS services for local businesses.
A feature of the Facebook integration is one that allows Square to match online ad targeting and in-store sales (and vice versa), making it a totally closed loop:
[W]e’re launching Facebook Ad Integration to help you target customers on Facebook, get new customers in the door, and increase sales effectively at an affordable cost. Now your Facebook Ads results and Square sales data are integrated, so you can connect your Facebook marketing budget to actual sales and understand exactly what your customers respond to. We will also be adding support for other social channels in the coming weeks.
Square is saying that it will be “adding support for other social channels in the coming weeks.”
Square, as a public company, has underperformed a number of Wall Street analysts’ expectations, but many are still seeing the company as a commodity provider of POS tools. Even though Square is seen as a POS tool provider, the company has been slowly expanding their capabilities. Because of this, they are a more fully realized marketing and loyalty platform for local businesses. The company is planning on expanding these marketing services with the built-in advantage of POS integration.
Ultimately, Square is trying to become a more compelling and valuable company that many Square investors thing they own.