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These days, it’s tough to be a CMO.You have to make sure your team of community managers produces tons of (appropriate) daily content and spread it across a slew of social media sites.
You’re humanising the voice of the brand every day; it’s time consuming and difficult to consistently come up with ideas for brand-related content.
Percolate is a New York-based startup that helps CMOs manage all of their social media content and it suggests content for them to blast to their followings.
In the past six months, the team of 22 people have signed up 25 Fortune 500 companies. Now there are more than 30 corporations paying for yearly licenses to use Percolate. Brands including Reuters, GE, American Express and MasterCard, and they are each coughing up $10,000 per month.
When you add it up, that’s more than $3.5 million per year, which isn’t bad for a startup that’s only raised $1.5 million and isn’t even two years old.
Percolate was founded by former Federated Media Vice President, James Gross, and former Director of Strategy for The Barbarian Group, Noah Brier. Between the two, it’s not hard to see why Percolate is doing well. They’re both well connected in the advertising and PR industries, which makes them perfectly suited to sign up major brands and spin them positively to the world.
Brier and Gross made a bet that content would come to rule advertising. So far, they seem to have been right. A recent study from a Garter analyst predicts that, by 2017, CMOs will spend more on IT than CIOs. Brier and Gross hope their social media dashboard can nestle itself squarely in between the marketers and the technology they’ll need to spread their brands’ messages.