Does the clout you carry across social media really matter? Well, considering that Klout itself was recently acquired for nearly $200 million by Lithium Technologies, it’s safe to say that social clout is alive and well and still carries a fair amount of, ok, clout.
Enter SocialRank, a platform that allows brands to find, engage with and reward the followers who deserve it the most – and tells you what you really need to know about your Twitter followers. Not what they talk about, but who they are and why they matter. And as we know, at the end of the day, it’s all about who you know. Co-founder Alex Taub tells us about their plans going forward (and psst – want to know who your first Twitter follower was? Here you go.)
Tell us about the service.
SocialRank is a simple tool to help brands and individuals find out more information about the people that follow them on social networks, starting with Twitter.
How is it different?
While there are countless tools to help you find out what time of day to tweet, what content to push out, what people are saying about you online, there is no go-to, de facto tool for finding out more about the people who follow you. This is where we want to start to help brands get more out of social media.
What market are you attacking and how big is it?
Well, the Analytics + BI industry is a $14B industry. But we have bigger aspirations than just that. We needed to start somewhere, but not everything is revealed yet as to where we want to go with SocialRank.
How did you scale so quickly?
We publicly launched with six brands – GoPro, Spotify, Harry’s, Plated, theSkimm, and Cory Vines. Brands picked us up for a few reasons, the first being we are a dead simple tool to use. The second being that we launched with a few brands using it, so it just made sense for people to check out how these brands used us. We were also in a bunch of publications and tech blogs. And finally, the product is social by nature, so a lot of brands found us through social media outlets like Twitter.
What is the business model?
We have a premium version of SocialRank that cost $25/mo. We will have other pieces of monetization, but right now that is the only way we make money.
What are the milestones that you plan to achieve within 6 months?
We plan to continue to improve the Twitter product and add at least Instagram within the next 6 months. Maybe also Pinterest.
Why are you launching in New York?
We launched SocialRank in NY because (co-founder) Michael (Schonfeld) and I live here. I grew up here and Michael moved here three years ago. We love New York and couldn’t even imagine building the company any other place.