Two years ago, Alex Taub and Michael Schonfeld founded SocialRank to help individuals and brands get to better know all those followers they've been frantically building up since social media became a major part of our lives.
The platform allows you to filter and categorize your Twitter and Instagram followers into categories that include Most Valuable Follower, which ranks followers by influence, and Best Follower, which balances most valuable with most engaged. And these can all be tailored to specific criteria, whether in a certain city, by popular topics, or bio keywords.
But with its new premium offering, SocialRank is giving brands more power to use that information. Taub says that while over the last couple of years the platform has given people the ability to divide and segment their audience, these new tools let you execute on campaigns inside SocialRank. A new feature called DM Campaigns allows brands to send personalized DMs to a large group of people at once.
"Let's say I'm with Bloomingdale's and we have a new store opening up in West Hollywood, I can use a list of influencers in that location, or target individual accounts, and I can set up a DM blast that is personalized to invite followers," says Taub. "The reason this is interesting is brands and marketers have always been asking for ways to scale these relationships, but often this means just individually DMing people if they want to send them product or invite them to an event. It's just an effective and engaging way to provide value, whether through products, events, or rewards."
Another new feature is Market Insights, which enables brands to not only analyze follower data of competitors, but helps to measure effectiveness of cobranded projects and find new influencers.
Taub says SocialRank Premium, which will cost $49 per month (SocialRank Basic is free), is a reflection of the maturing of social media. Initially for marketers, it was all about getting on these platforms—forget about ROI and focus on engagement.
"But now, Facebook is 12 years old, Twitter is turning 10, and even Instagram is 6 years old," says Taub. "We're at this time where ROI is important, and the only way to figure it out is to understand your audience. Now people are looking at these audiences they've built up and asking, 'Who are these people and why are we doing this?' The days of doing campaigns to get more followers are over. You should care about quality followers and people who are fans of what you're doing, and find ways to best engage with them."