Brands are spending increasing amounts of time and money chasing mythical “engagement” across social media platforms, too often without a clear measure of the ROI from this effort. Data visualization company SumAll, founded by former Squarespace CEO Dane Atkinson and others, offers a single dashboard that combines inputs from Facebook and Twitter, as well as Google Analytics, eBay, PayPal, Stripe, Authorize.net, Shopify, Big Commerce, and Magento. Today, the company is adding Instagram to its already comprehensive offering.
SumAll’s analytics tools compare a company’s social activity against its web traffic and revenue, to reveal the return on social marketing. The real time dashboard includes a comprehensive history of social activity and enables actionable insights to be drawn across a variety of business segments.
Typical insights include things like changes in the average site visit duration of a company’s old customers or its best revenue day of the month. The platform also offers insights on when to give discounts or offer free shipping, and can segment data by time horizon, and a variety of user cohorts. All of this data is accessible via desktop, iOS, and Android.
Instagram in particular is becoming an increasingly important marketing channel for brands, as it becomes the social network of choice for more and more consumers – particularly the younger, more socially engaged crowd. As companies increase their usage of this platform, it’s important to connect the dots between photos and Web traffic. Much like users can quantify the value of likes and advocacy events on Facebook, they can now distill the value of follows, hearts, and Twitter shares within Instagram.
The target audience for the 10-month-old SumAll is small- and medium-sized businesses (aka SMBs), such as current clients Pure Fix Cycles and Diamond Candles. Plenty of companies offer enterprise grade analytics solutions, such as GoodData, Omniture, and Google Analytics Premium, but few in the SMB space compare to SumAll’s comprehensive yet accessible platform.
SumAll currently employs 20 engineers and reportedly has more than 10,000 customers who spend several hours per day engaging with its product. The company recently revealed that its customer base is growing at a remarkable 20 percent per week.
The startup raised a $1.5 million seed round in June which was led by Battery Ventures and included Wellington Partners, Matrix Partners and General Catalyst Partners. It’s social analytics product suite is currently free, although the company is likely to move to a freemium model eventually with brands paying for deeper insights.
It’s certainly possible to have too much data, which can often lead to the infamous paralysis by analysis. But given the impact that brands are seeing from social media marketing, the ability to monitor and optimize its use is absolutely critical. SumAll offers a reasonable window into the various levers that might be pulled across the social realm to drive desired engagement and revenue results. Now users can include Instagram in this analysis. The only thing missing now is Pinterest (sorry Google+).
[Image, SumAll CEO Dane Atkinson]