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Alex Taub, the co-founder of Social Rank. He and his co-founder created an algorithm to identify the \\u2018Most Valuable Follower\\u2019 on Twitter and other social media - and it went viral. Now they\\u2019re making over $50k each month from their social media analytics software. Listen in to hear why businesses are leaping on the chance to curate their followers, how Alex built his business so fast, and why you should work for someone else before you launch your big idea.

Famous 5:

Favorite Business Book? \\u2013 I like blogs more - but I guess my book, Pitching and Closing
What CEO do you follow? \\u2014Marc Benioff
Favorite online tool? \\u2014 Rapportive
Do you get 8 hours of sleep?\\u2014 No
If you could let your 20 year old self know one thing, what would it be? \\u2014Go to a medium sized startup and work there before you do your own thing

Time Stamped Show Notes:
01:20 \\u2013 Nathan\\u2019s introduction
02:06 \\u2013 Social Rank is primarily for brands and agencies
01:50 \\u2013 \\u201cWe found out that in many cases, the most valuable followers are public figures\\u201d
02:56 \\u2013 Social rank allows brands to analyze their followers
03:00 \\u2013 They generate revenue through a premium subscription model
03:50 \\u2013 Social Rank Premium is $50 per month, while the Market Intelligence model allows organizations to view the whole ecosystem and costs from $100 to several $1000 dollars
04:20 \\u2013 Over 250,000 users, and over 50,000 paying customers on the Market Intelligence model
04:40 \\u2013 Social Rank doesn\\u2019t focus on user growth - they look at MRR and customer growth
05:34 \\u2013 Revenue has grown by 30% each month in 2016
05:40 \\u2013 In early 2015, MRR was under $7k per month, while it\\u2019s now $50k per month
06:55 \\u2013 How many basic subscribers upgrade to the premium model?
07:20 \\u2013 \\u201cWe\\u2019re more interested in using it as a potential leads generator\\u201d
07:56 \\u2013 \\u201cIt\\u2019s a non-traditional SaaS model...we\\u2019re using the premium model as a loss leader to find leads\\u201d
08:50 \\u2013 Premium model has only been out for 2 weeks
10:00 \\u2013 \\u201cMost Valuable Follower\\u201d, \\u201cMost Engaged Follower\\u201d, and \\u201cBest Follower\\u201d metrics
10:33 \\u2013 \\u201cThose metrics are a very small piece of what we do\\u201d
11:00 \\u2013 It\\u2019s a way to rank more valuable, in-demand, and interactive followers
12:25 \\u2013 How is it valuable to curate followers?
12:45 \\u2013 People use it to find the right people for events in specific areas
13:20 \\u2013 The primary use case is finding the right people for the right things
13:54 \\u2013 Raised a little over $2 million in seed rounds
14:17 \\u2013 Connect with Alex on Twitter or via email
15:47 \\u2013 The Famous Five

3 Key Points:
Work for someone who knows what they\\u2019re doing before you strike out on your own
Curate your social media followers and find the right people to promote your events
If an idea works - run with it
Resources Mentioned:
Host Gator \\u2013 The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages \\u2013 The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible \\u2013 Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.

Show Notes provided by Mallard Creatives

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