Want to know more about those Twitter followers? You’re not alone. Alex Taub and Michael Schonfeld are the founders of SocialRank; a new platform that allows brands to better understand who’s following them how to leverage their engagement. Read on to learn more about Alex and Michael’s latest venture (and how it has evolved from an older startup).
The Big Plate: What’s on your plate?
SocialRank: Just got back from SXSW. Lots to do for SocialRank. Have a few product pushes coming this week. Exciting times!!
TBP: Tell us about the origins of SocialRank.
SocialRank: Michael and I were ready to start our own coming. We love the Dwolla crew but it was our time to spread our wings. Back in 2012 Michael and I built a fun little app called MVF. It told you who your most valuable followers on Twitter were. It was an overnight sensation and had thousands of people use it in the first week. We ended up shutting it down when we joined Dwolla. That should have been the end of the story but brands kept emailing us asking us to turn it back on. They wanted to know more about the people that followed them on Twitter. We ended up bringing back MVF rolled up in SocialRank once we left Dwolla.
TBP: What changed to create demand for that type of service again?
SocialRank: We just kept getting emails every few months from brands asking for it. When we pressed for why they want it- across the board we heard that there was no go-to tool for information about the people that follow you on social networks. Not what they are saying, but who they are. The demand was still there, so we decided to build the product out.
TBP: Can you give us a couple of examples of creative ways brands are engaging their followers with the help of SocialRank?
SocialRank: We’ve seen some cool ways brands have used it so far. They fall under three categories: 1) product rewards 2) experiences 3) outreach
In terms of product rewards, we launched with six great brands that publicly rewarded one of their best followers found through SocialRank. GoPro, Spotify, Harry’s, theSkimm, Plated and Cory Vines were the brands. The GoPro example was awesome. This was their public tweet:
Then the guy they rewarded took a photo of the product and posted it on instagram and got 700+ likes and crazy off the charts authentic engagement:
(See Instagram below)
In terms of experiences, we have heard from some brands (and are working with one celebrity) to publicly reward one of their best followers with an experience. This could be something like a sports team upgrading a fans seats or a musician inviting a fan to come backstage to meet them.
In terms of outreach, we’ve been told by a number of nonprofits that they have used SocialRank to identify their most valuable followers to reach out to them to help spread the word about whatever campaign they have going on.
TBP: You have been involved with a number of high-profile startups; what is the most important thing you have learned that you can apply to this venture?
SocialRank: Focus. Do one thing really well and then move from there. At startups you feel like you want to do a million things at the same time but it only slows you down and doesn’t allow you to be successful. Focus is the only way to be successful. Even great entrepreneurs like Jack Dorsey had trouble working on Square and Twitter at the same time! Working on one thing and focusing on that one thing is no easy task, I promise you that. If there is one thing I can apply to SocialRank is doing one thing really well— which right now is helping brands understanding their Twitter followers better.
TBP: What types of brands will benefit most from learning more about their followers?
SocialRank: Once you have a certain number of followers it is hard to keep track of who actually follows you. I think any brand can use SocialRank and gain some utility from it. I like working with brands with physical products right now. I think the GoPro example is a great one. We helped them qualify their surprise and delight and the engagement that ensued was awesome. So yea- brands with physical products and brands that can offer some sort of experience (sports is a big one) will get the most out of SocialRank right now.
TBP: Where can we learn more about SocialRank?
SocialRank: SocialRank.co and check out our FAQ’s and About page.