Magpie BrandWatch to enable real-time brand tracking

Next year spring Magpie will launching its new product BrandWatch that will enable tracking of buzz about your brand in the blogosphere and top web sites. Magpie, lead by Giles Parmer, is based out of UK and has been in the business of building database and backend products since 1999. BrandWatch will comes out of the expertise Magpie has developed in tracking varied news sources while building its core product Search&Alert Pro.

Search&Alert Pro is a persistent search engine from Magpie that serves results from commercial sources like Factiva and also tracks blogs to update you with real time results. Search&Alert is targeted towards analysts and financial advisors who track particular trends in the industry which are not possible using the regular search tools available. Companies signing up for Search&Alert service can choose the areas(finance, media, fashion, technology) for which they need highly targeted information, and Magpie loads that sector’s library on the backend. Magpie enables users to setup and save search for their required keywords, which can than be delivered to your email or Blackberry.

BrandWatch will build upon the features provided by Search&Alert. Users will be able to specify the brands the want to follow and Magpie will automatically load the trends for the past 7 days. Each brand will have an associated BW score calculated using a proprietary algorithm based on many factors including creditability of source, and sentiment of the article. Besides this you will still have the regular features like the ability to change the number of tracked brands, setup alerts, and filtering of results by tags.

As for pricing, Search&Alert Pro with proprietary content(Factiva) should be available for around $400 per year per seat. BrandWatch which comes with more features will obviously cost a bit more. Magpie already has 20 corporate customers using its products and might plan to launch plans next year for individual users to subscribe for its products. Till date Magpie has raised around half million pounds in angel funding and looking to break even by Q1 of 2007.

Magpie is already in talks to add more commercial news sources to provide a comprehensive data set to search against. Personally I feel combining blogosphere with commercial media is right way to monitor trends. Blogging hasn’t reached that high levels in terms of quantity and quality of content available for anyone to base their decisions by reporting on it. Take the case of financial industry where good financial blogs are hard to come by. On the other hand we have lot of information which is hidden behind pay walls. Being able to deliver the best of both worlds is the right strategy. Having said that we already have couple of more funded players, Buzzlogic and Monitor110, looking to report just on blog data.

Links:
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5 Responses to “Magpie BrandWatch to enable real-time brand tracking”

  1. robert schettino Says:

    Looking to ‘report just on blog data’ may miss important parts of a conversation. Reporting shouldn’t stop at blogs, because relationships don’t either. Rather, you need to look at the flow of conversations across social media and also including mainstream media and corporate sites. This is integral to the approach at BuzzLogic.

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  5. Traffic Omega Says:

    You surely have a good way to come up with your opnion.

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