Trendrr is the latest company to launch a social media dashboard, but it hopes to distinguish itself from the growing number of competing products in this area by focusing specifically on how conversations are tied to location.

The dashboard, called V3, allows brands to monitor and manage the large volume of conversations as they occur across the web. But with the rise of Foursquare and other location-based services, more people are leaving comments and having conversations about things that are related to a specific place or region, and companies increasingly want to track that.

It’s just the latest example in a wave of innovation happening in the area of social media tracking. We’ve written about several competing efforts, including Hootsuite, NetVibes, Jungle Torch and Trackur. The company could also see competition from rumored dashboards created by Twitter and Foursquare themselves.

V3 offers dashboards to track an array of information streams, including Twitter, blogs, and media. It allows users to track volume, location, sentiment, gender, and influence. In addition, brands can monitor check-ins and badges on Foursquare and Gowalla.

Trendrr, based in New York, carries real-time data feeds from Foursquare, Gowalla, Facebook, Klout and Collecta. The combination of rich data sets and the ability to filter the data down to a granular level could be handy to brand strategists as they plan campaigns around regions.

Wiredset, a real-time digital marketing agency, is the parent company of Trendrr.

In addition to monitoring tools, Trendrr offers users a way to identify, group and respond to influencers. If Starbucks sees a number of influencers in a specific area have colds and used Starbucks green tea as a remedy, marketers can identify this trend and use branded accounts to retweet and engage users to further the conversation. They could then see if there’s a corresponding increase in check-ins using location based data.

Mark Ghuneim founded Wiredset after leaving Sony Records, where he was a top digital marketing executive, in 2004. The company has built Trendrr without outside funding, instead relying on client income to cover development costs. While Trendrr previously offered a free version, users will now be forced to pay for plans starting at $499 a month to access the new set of tools.

“After five years iterating versions of Trendrr, the current build stands as our most comprehensive offering and effective workflow solution to date,” Ghuneim said. “Our platform’s focus helps brands make money, save money and build brand equity.”