Social Startups: HipLogiq
“Direct mail celebrates a 98% failure rate. We can drive a furniture store to a 46% conversion rate with 116 new prospects, or a restaurant to a 25% conversion rate with 900 new prospects,” says Bernie Perrine, CEO of HipLogiq and one of the founders of Kinko’s (now FedEx Office). “From a marketing standpoint, there hasn’t been an event like this.”
HipLogiq was technically co-founded by Perrine, Lindsey Madison (Chief Product Officer), and Adam Root (CTO) in just March of 2013, yet SocialCompass, their first product, came out in October of 2012, and the company itself has been building up to their first launch since 2008. Billed as “a meaningful, results-driven way to help companies target and engage customers over social media”, SocialCompass offers brands the opportunity to outsource social media engagement for real time 1:1 marketing. SocialCompass’s algorithms filter conversations based on location, keywords, and influencers to find potential customers and turn them into actual ones. Two core parts to the “fulfillment” team at HipLogiq are at the heart of this effort: one is a team of journalists creating blogs and other original content for brands to help drive their SEO, while the other team monitors the conversations for ones they can respond to on behalf of the brands, sending a range of messages and offers the customers’ way.
In March, HipLogiq was created as a sort of “holding brand” when SocialCentiv, their latest product, was announced at South By Southwest. While similar to SocialCompass, SocialCentiv is targeted to the SMB market as a cost-effective way to the same end. Instead of HipLogiq staff finding and replying to customers, SocialCentiv puts the tools in the companies’ hands to the same effect. Since its release, they said they’ve signed up over 1,000 clients in the month SocialCentiv has been available.
Perrine said there are two key points that make HipLogiq stand out. First, he said, are “Results. That’s what it’s all about. Unless it delivers practicable, monetizable results to a delighted consumer and a great partner in the client there’s no point in doing it.” The second: “The U.S. Patent Office just issued our 3rd patent. If the USPO says you’re unique, we have a pretty good stand to say what we do is pretty special.”
Future products are also in development, including one called Prediq, which Perrine will only say so far is a new kind of intelligent weather algorithm and slated to come out in Fall 2013.
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