Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence
Social Media Basics andUsing Social Media to Monitorthe Competition or Competitive Intelligence Some basics Hive at 55 presentation October 7, 2010 by Regina Walton
Why are we here? Why do we care?By now everyone has heard about social media and what it can do topromote your business, build your brand or establish you as an expertin your field.
DefinitionWhat is Social Media?Social media essentially is a category of online media where peopleare talking, participating, sharing, networking, and bookmarkingonline. Most social media services encourage discussion, feedback,voting, comments, and sharing of information from all interestedparties.Its more of a two-way conversation, rather than a one-way broadcastlike traditional media. Another unique aspect of social media is theidea of staying connected or linked to other sites, resources, andpeoplefrom Social Media Marketing 101, Part 1
Why?Social media helps: manage your companys or brands reputation. build brand awareness and helps improve how people view your brand. get you closer to your customers. Learn about their needs then respond. Discuss converse, debate. gives you creative and effective ways to learn insights not previously available. you find new and inexpensive ways to support your clients.Also, its typically cheaper than traditional marketing.
Okay, great, but how?Listening Social Bookmarking Follow key people and Stumble brands Del.icio.us What are the topics? Digg How do people feel? Reddit Whats the tone? Get in the conversation Points of view? RSS feeds Blogging Subscribe to relevant Twitter blogs Facebook Google alerts Forums Your business and competitors Technorati On-topic forums
How?This is where listening comes in. You should have a good idea aboutwhere your customers or the customers you want to reach are online. Facebook - probably LinkedIn MySpace (...really?) Blogging white papers, ebooks Podcasts Good source of different ways of reaching out: Content PlaybookNo matter where they are, you have to be there and provide some sortof value. Get into the conversation. Start a debate or discussion.Express your point of view and expertise.
Content StrategySocial Media Examiner: How Content and Social Media EqualMarketing SuccessGood video here but its 12 minutes long, so watch it on your own.
Measure, Adjust, RepeatMeasuring is key Traffic Who is reading your content and where are they coming from? Where, when and what? Friends or followers Comments Subscribers Mentions
Competitive Intelligence The Dark Side... Not Really (but its fun to say.)
Definition"...the purposeful and coordinated monitoring of yourcompetitor(s), wherever and whoever they may be, within aspecific marketplace..."from What is Competitive Intelligence?Online Handbook (goes over the basics): The CompetitiveIntelligence Handbook
Some tips1. Monitor popular keywords within your industry. For home renovators, itcould be “renovations”, “home improvements”, “DIY repairs” or “homeprojects”2. Keep a steady eye on competitors to see what’s being said about them. Inparticular, focus on people who are complaining about bad products, serviceor customer service. Then, step in by offering advice or help, while shyingaway from trying to sell them something.3. Look for conversations about trends within your industry. For homerenovators, it could be chatter about new kitchens, bathrooms or energy-efficient appliances. Then, you can participate in the conversations byproviding advice, insight and recommendations.from Using Social Media for Competitive Intelligence
How? (A lot of this is the same stuff)Private Twitter lists How to Market Your Business With Twitter ListsYahoo Pipes (or maybe its just Pipes now) Pipes is a powerful composition tool to aggregate, manipulate, and mashup content from around the web. Marketing Lists (this also fits in basic social media because youcan use an example like this to set up your own strategy) A Wiki of Social Marketing ExamplesTrack influencersTrack traffic: Compete.com Etc., etc., etc.
We are:Regina Waltonreginawalton@gmail.comTwitter: @ReginaWaltonLinkedIn: Regina Walton415-216-3429 - mobileLarry AronsonAuthor of HTML Manual of Stylelarry@laronson.comhttp://larryaronson.comTwitter: @LAronson
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