• by Gavin O'Malley  @mp_gavin, September 11, 2008

Social media technology startup Buddy Media has launched a nerve center for its clients to track the progress of their social applications within the amorphous realm of social networks and user-generated content.

Modeled after the human brain, the new BuddyBrain service is split into four "lobes" beginning with an intelligence center where clients can track real-time campaign results, including install rates, average time spent, and retention rates.

Next is a project management--or communication control--center where clients can find project updates and reviews of their campaigns. The other two lobes consist of a social wire, where industry news is compiled, and a reference tool section, including archived information and documentation on all things social media.

Founded just a year ago, New York-based Buddy Media helps marketers and advertisers develop and implement social-media developer platform applications to increase engagement and brand awareness with consumers.

Its most successful effort to date was an application for FedEx, which encouraged users to send virtual parcels--digital photos, documents, and the like--enclosed in the classic purple and orange FedEx packaging.

In just a year, the privately held Buddy Media has built an impressive client roster--including FedEx, New Balance, Anheuser-Busch, Time Inc., Microsoft, Priceline and Reebok, to name a few.

The rapid adoption of the startup's white-label products is due to their simplicity, their built-in trackability, and their accountability, according to Michael Lazerow, CEO of Buddy Media.

"Social advertising's greatest barrier to growth has been the perception on the part of marketers that social campaigns can't be measured effectively, and that they don't know what they're getting for their buck," Lazerow said. "We make social marketing easy, highly trackable, and accountable because we only charge clients if we deliver on engagement."

On average, clients are spending about $150,000 with Buddy Media, with the exception of two clients that are spending in excess of $1 million, according to Lazerow.

Before its launch this week, the BuddyBrain service has been compiling aggregate data from 10 of Buddy Media's most downloaded "app-vertisements," which averaged 140,000 installs during the first month of clients' campaigns.

In addition, users were found to spent an average of 2 minutes and 35 seconds interacting with applications, which is much higher than the industry average for interactions with banner advertising.

What's more, BuddyBrain found that 85% of users who installed applications returned for multiple interactions, while 56% of users returned nine or more times during the first month.

In April, the New York City-based startup took in $6.5 million in a Series B round of financing led by Softbank Capital, along with European Founders Fund and GreyCroft Partners, among other investors.

With a staff of about 25 employees, Buddy Media was "just about profitable" last month, according to Lazerow.