Some life has been brought back to BuzzLogic, with an $8.8 million investment infusion from return backers Ackerley Partners. This second round of funding was led by Adams Capital Management. BuzzLogic raised about $12 million in 2007, shortly after launching its conversation tracker.

When BuzzLogic first appeared on the scene, social media was a newer concept for advertisers. Everyone was just learning the ropes, figuring how to utilize social media as a mechanism for direct communication with consumers. The years since BuzzLogic launched has seen quite a development from the space, with real-time web sharing and geo-location adding two significant layers to conversation-tracking.

After some internal turmoil and the stepping down of CEO Rob Crumpler, BuzzLogic’s funding will go towards finding his replacement, building up its team and refocusing on growth. Enter BuzzRoll, BuzzLogic’s new rich media ad unit for monetizing the real-time web. From PaidContent,

Peter O’Sullivan, BuzzLogic’s vp, sales, discussed the addition of Buzzroll, the company’s new rich media ad unit. “We’ve been running all kinds of IAB sanctioned rich media for a while, but the Buzzroll product is much more customized and gives marketers more options. BuzzRoll, as a social media ad unit, will drive greater engagement among blog readers, since it encourages them to share everything from a company’s blog content or a white paper, and Twitter feeds, to video and Facebook apps. This is just a simpler way for marketers to do it.”

With engagement as a central factor towards achieving growth, BuzzLogic will likely be monetizing this juncture of social consumerism. Engagement is the marrow of social media marketing, and is becoming increasingly necessary for businesses’ outreach and research methods.

This is where most conversation trackers are going to focus their monetization efforts, as well as other real-time services such as filters and distributors. It will require a mobile initiative and deep analytics around collective social media currencies, especially as the real-time web monetization arms race is heating up.

Workstreamer, a niche conversation tracker oriented around businesses, has also announced its funding this week. The Austin-based startup has raised a total of $5 million, and will be targeting sales and marketing professionals in its growth endeavors.

An unrelated, real-world example of this concept is Anthony Bourdain’s current contest. Through varied social media channels, Bourdain is talking directly with fans and consumers, utilizing those conversations as points of engagement for promoting his new book, Medium Raw.