Australian social ROI tool for marketers wins startup awards

Social Status tool, which is described as "Google Analytics for social ROI", wins The Big Pitch startup competition

Tim Hill
Tim Hill

A social media analytics platform aimed at helping marketers better understand ROI from social programs and optimise activities has won this year’s The Big Pitch startup competition.

Sydney-based social media startup, Social Status, took out top honours against a pool of 300 other Australian entrepreneurs. Co-founder and CEO of Social Status, Tim Hill, said the idea for the insights tool came from his own experience as a marketing and advertising executive, and the challenges he faced demonstrating social’s ROI in terms of engagement and conversion.

Hill began his career as a Web developer, before switching to TV and then spending six years in digital and advertising agencies including BMF Advertising and Reading Room.

He described Social Status as a “Google Analytics for social media”.

“The tool is for anyone who has KPIs for social or engagement and enables them to make sense of and quantify their marketing efforts,” he told CMO. “The pain point is that it’s hard to communicate up to the CMO and CEO about the value of social to the business – there’s no framework or set way to do it, and a lot of marketers have had to make it up as they go.

“When you use our platform, you understand your brand’s performance against the category, so it gives you context around the numbers. It also speeds up reporting – a lot of marketers spend hours manually compiling reports, so we’ve automated a lot of those processes.”

To do this, Hill said it has indexed more than 4000 brands to provide best practice benchmarks and actionable insights off the data.

The platform, which has been in development for the past two-and-a-half years and was launched at last year’s CeBIT event, was further developed when Social Status started working with the University of Wollongong’s accelerator program, iAccelerate.

The Big Pitch Win also comes as the company strives to raise $1.5 million to build out its operations. Hill said the first big area of focus is to extend its Facebook-only capabilities across Twitter and Instagram, providing marketers with a multi-channel tool. The second focus is conversion tracking and providing full-funnel metrics.

“Many marketers don’t have a full [social] engagement approach, so we’re working to have that link from revenue generated back to the social posts,” Hill explained. Social Status is also working to ensure marketers can link other conversion activities, such as signing up to a newsletter or downloading a PDF, back to original social posts.

The multi-channel capabilities are due to launch in Q3, while the conversion tracking is planned for the end of the year.

Hill delivered his five-minute pitch live at the Melbourne-based event, which attracted more than 350 technology investors, industry leaders, media and the startup community to share in $5 million in investment capital. The event was also streamed live online.

The judging panel included technology industry and investment notables and was led by Oxygen Ventures executive director and entrepreneur, Larry Kestelman, who founded Dodo in 2001. The business was sold for $200 million in 2013. Other judges were Oxygen’s global company director and corporate adviser, Laura Anderson, McKinsey&Co director emeritus, Dr Raoul Oberman, Yelp Asia-Pacific director, Dave Scheine, Square country manager, Ben Pfisterer, and ANZ Banking general manager for small business, Kate Gibson.

Social Status was awarded with a commitment of $1 million in capital raising, which will be invested by Oxygen Ventures. The investor will now undertake final termsheet discussions, strategic planning and a due diligence process with Social Status.

Alongside Social Status, Adelaide-based nano-satellite startup, Fleet, was recognised on the day with the Peoples’ Choices Award. The company is looking to build the first low orbit Internet network using 150 satellites meshed together to offer connectivity to the most remote places of the world. The company won a workshop session with the digital team and $10,000 in advertising from Newscorp.

Three other finalists were announced: Gamurs, a social networking platform for video gamers; Biteable, a tool for corporates and SMEs to develop videos using a library of stock footage; and Storie, a tool for sequencing video scenes to create longform videos. All finalists can now access ANZ’s Business Growth Program and received $3000 in Amazon Web Services credits.

Hill said winning the competition was a great opportunity for Social Status to gain backing and credibility.

“The Big Pitch is fantastic for the start-up community to raise the profile of startups in Australia and help us become a technology hub like Silicon Valley, or Israel or other similar places around the world,” he added.

Last year’s event winner, calendar marketing software platform ECAL, has recently expanded in to the US market from its Melbourne headquarters and has secured several US clients including New England Patriots, Washington Redskins, Boston Celtics, Major League Soccer, LPGA, and USA Volleyball.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

looking for the best quality of SMM Panel ( Social Media Marketing Panel ) is a website where People Buy Social Media Services Such as Fa...

Kavin kyzal

How to manage social media during Covid-19

Read more

Thank you for sharing your knowledge. Definitely bookmarked for future reading! Check this website https://a2designlab.com/ with lots of ...

Pierce Fabreverg

Study: Gen Z are huge opportunity for brands

Read more

Thanks for sharing. You might want to check this website https://lagimcardgame.com/. An up and coming strategic card game wherein the cha...

Pierce Fabreverg

Board games distributor partners with Deliveroo in business strategy pivot

Read more

Such an important campaign, dyslexia certainly need more awareness. Amazing to see the work Code Read is doing. On the same note we are a...

Hugo

New campaign aims to build understanding around scope and impact of dyslexia

Read more

Great Job on this article! It demonstrates how much creativity, strategy and effort actually goes to produce such unique logo and brandin...

Pierce Fabreverg

Does your brand need a personality review? - Brand vision - CMO Australia

Read more

Blog Posts

A few behavioural economics lesson to get your brand on top of the travel list

Understanding the core principles of Behavioural Economics will give players in the travel industry a major competitive advantage when restrictions lift and travellers begin to book again. And there are a few insights in here for the rest of the marketing community, too.

Dan Monheit

Co-founder, Hardhat

Predicting the Future: Marketing science or marketing myth?

Unicorns, the Sunken City of Atlantis, Zeus: They are very famous. So famous in fact, that we often think twice about whether they are real or not. Sometimes if we talk about something widely enough, and for long enough, even the strangest fiction can seem like fact. But ultimately it is still fiction - stories we make up and tell ourselves over and over until we believe.

Kathy Benson

Chief client officer, Ipsos

Winning means losing in the game of customer retention

At a time of uncertainty and economic hardship, customer retention takes on much greater importance. CX Lavender’s Linda O’Grady examines the big grey area between ‘all’ and ‘best’ customers when deciding who is worth fighting for and how.

Linda O'Grady

Data Strategy Partner & Business Partner, CX Lavender

Sign in