Socialbakers has launched its Paid Analytics service, which delivers paid social media oversight and control across multiple ad accounts to brands.

As brands are shifting more budget to social media advertising, it becomes paramount that budget owners gain a clear understanding of their advertising investment.

The company said it has launched the service to respond to the current inefficiency of the process, from the lack of insight into multiple ad accounts, managed across regions and teams, to the lack of security in data being stored and shared between stakeholders.

“Lack of clarity, transparency, and no oversight of budget allocation across channels or results are currently costing marketers their budgets,” said Socialbakers CEO, Yuval Ben-Itzhaks. “Digital spending will continue to skyrocket, while the marketing teams that are unable to properly manage their spend will see their costs rise, and results diminish. It’s a critical time, and were committed to helping brands overcome this challenge.”

Socialbakers said that the Paid Analytics service will enable advertisers to gain a clear, unified view of ad spend. Insights can be accessed and shared easily so teams can have a clear focus on ads performance and budget allocation.

They will also be able to benchmark multiple ad accounts in context, based on up-to-date data accessible on the Socialbakers platform. The service also streamlines and optimises sharing permissions between all stakeholders to minimise the risk of data being accessed by the wrong people.

The Paid Analytics is available now.