SocialRank thinks it can help marketers better understand their company's customers. In January the company plans to introduce Word Search, which will allow users to search their followers on Twitter or Instagram for specific words, such as "knicks," in tweets or posts.
SocialRank Co-Founder Alex Taub told Search Marketing Daily that marketers and agencies can use the regular version of the platform free of charge, in exchange for their email address, but eventually the company will offer a premium version for a fee.
Today the software can mine and filter information about social media audiences by identifying words in their bio, so brands can find people who have a specific job title -- such as software engineer -- and live in a particular city. The platform sorts, filters, saves and exports the data.
The combination of the Word Search and Bio Word will allow SocialRank users to search for the most used word, for example, that Nike followers use, ranking from "happy" or "pray for paris" to "black friday" and "running." It works for both Twitter and Instagram.
Earlier this month SocialRank introduced SocialRank for Teams, a collaborative team product allowing individual employees at brands and their agency partners to conduct research and gather intelligence on the customers interested in the company’s social media presence.
SocialRank for Teams lets users set up email address logins for all team members, as well as permissions for individual members.
The launch lays the foundation for a social audience CRM platform -- the equivalent of Salesforce -- but specifically for people, not content.
SocialRank also publicly rolled out its Market Intelligence software to mine the public data from competitor accounts with more than five followers. "If I'm Adidas and want to run Nike's 5.6 million followers I can," Taub says. "I also can run all their verified followers based in New York within five seconds."
The intelligence reports cost between "a few hundred dollars to a few thousand to run a competitor's account," Taub says. The most any brand has paid is $2,500 to run reports on Twitter or Instagram data, he says. The Red Cross, for example, pays a few hundred per month as a non-profit to use the service.