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Top 10 Fastest Growing Social Media Management Software Platforms in Q3 2014

Vinay Bhagat
December 3, 2014
Marketing

Top 10 Fastest Growing Social Media Management Software Platforms in Q3 2014

Social Media Management remains a fast growing software category. Page views on TrustRadius for Social Media Management Software products – a measure for how many people are running evaluations – grew 27 percent from Q2 to Q3. While page views are not an absolute representation of category growth, they are a good proxy.

While Social Media Management remains a fragmented category, with more 137 vendors listed on TrustRadius, and many companies using multiple social media management products, a few vendors are starting to break from the pack. The most evaluated social media management software product on TrustRadius during Q3 was Hootsuite Enterprise, followed by Sprout Social and Sprinklr.

Top 10 Most Evaluated Social Media Management Products Q3 2014

It’s important to note that some of these products do quite different things, e.g. Woobox focuses on social media based contests, but they are all in the broad category of social media management.

These products also sell to different market segments, which can account for differences in evaluation frequency. Using reviewer mix on TrustRadius as proxy for customer mix, and assuming prospective customers follow a similar distribution to existing customers, it’s possible to make an educated guess as to evaluation frequency by customer segment. For example, in the enterprise segment, based upon review mix on TrustRadius, 37 percent of Hootsuite Enterprises’ customers are companies with more than 500 employees; for Sprinklr, the corresponding figure is 67 percent; Radian6, 54 percent; and Spredfast,41 percent.

Multiplying these percentages by the total evaluation frequency allows us to estimate an “enterprise evaluation rate” for Social Media Management Software products. Using this view, the Social Media Management Software product most evaluated by enterprises with more than 500 employees during Q3 2014 was Sprinklr, followed by Hootsuite Enterprise, Radian6, and Spredfast. While this imperfect methodology does not account for rapidly shifting customer mixes it does give a directional indication of today’s picture.

Top 10 Evaluated by Enterprises
Stay tuned for our upcoming Buyer’s Guide to Social Media Management Software where we discuss insights about which products are best suited to different use cases. In the interim, you can access last year’s guide here.

About the Author

Vinay Bhagat
Vinay Bhagat, founder and CEO of TrustRadius, is an entrepreneur passionate about tackling big problems. Vinay conceived TrustRadius after experiencing challenges when buying enterprise solutions at his last company. In 1999, Vinay founded Convio, the leading Software as a Services platform for nonprofits. In April 2010, Convio became a public company, and was acquired in May 2012 for $325 million. Prior to Convio, Vinay was at Trilogy Software and Bain & Company. He holds an MBA from Harvard Business School where he graduated as a Baker Scholar, an MS Engineering Economic Systems from Stanford University, and a MA Engineering Information Sciences from Cambridge University with First Class Honors. When he’s not working, Vinay loves spending time with his family, playing squash and racing cars.

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