However unclear the social media monitoring forecast may be, its estimated importance continues to climb via moves like the recent US$ 4.25 million raised by Viralheat (news, site). Led by the venture firm Mayfield Fund, this round of funding adds to the measurement tool's US $75K money pot.
Viralheat's social media analytics product provides the features we've all come to expect from such tools:
- Social media trend tracking (Twitter, Facebook, Buzz, etc.)
- Sentiment analysis
- Influencer data
- Analytics -- and so on.
One not-so-common feature called Human Intent aims to give businesses the ability to identify customers on the verge of a purchasing decision in realtime. As part of this, Viralheat uses OAuth 2.0 to integrate with Salesforce and export leads into your sale organization’s pipeline.
The feature is also "trainable" as you can click a button to indicate that a piece of content is important, increasing the engine's accuracy.
See the platform in action here:
Viralheat's funding will reportedly be used to expand the engineering team and create new products and services for companies to analyze and engage consumers. It will also be applied to accelerate customer acquisition and revenue growth.
"'Let's be honest. Social media monitoring and so-called listening as we know it is commoditized and doesn't provide the insights that today's businesses seek," said Raj Kadam, the company's co-founder and CEO. "We're drowning in mentions. The next frontier for this market is future-tense intelligence and analytics that tell you what is going to happen - not merely what has happened. We're already the leader in this blossoming category, and the market is responding strongly."
Gaining Money, Saving Money
To be perfectly honest, the story of social media measurement tools getting attention is a tired one. Be it a round of funding, an acquisition or a new feature, it doesn't quite seem like the payoff is equaling the investment.
In Viralheat's case, the latter isn't going to break the bank. In fact, the company prides itself on affordable plans for all customer types, offering tracking on up to 5 profiles for US$ 10 per month, US$ 29 for 20 profiles and $US 89 for up to 40.
Take it for a free spin (for 7 days) and let us know what you think.