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Social media monitoring and competitive intelligence

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Social Media Monitoring and Competitive Intelligence

Social Media Monitoring and Competitive Intelligence

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  • Tarcizio,

    Good work on putting this together.

    I agree that a company cannot be 'conceived only in terms of competitors and customers', but that there are many other factors of note. Listening to all of these factors and taking them in to account when making decisions is imperative.

    When it comes to monitoring unstructured data surrounding the company, it's also imperative that a company is able to connect what they find to their key business performance metrics. This allows the company to create a sound strategy for connecting, enhancing, and profiting from unstructured data from all over the web and other areas.

    Social media monitoring is not advanced enough to make this correlation automatically, and other enterprise solutions should be take in to account such as social media business intelligence. Data correlation is more important than anything for the enterprise, and social media monitoring simply cannot deliver on this need.

    Looking at mentions is great, but profiting from them is even better.

    Keep up the good work.

    - Sergei Dolukhanov
    @sdolukhanov (twitter)
       Reply 
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  • 1. Social Media Monitoring andCompetitive IntelligenceSocial Media Monitoring and Competitive Intelligence
  • 2. Monitoring and Competitive Intelligence? Monitoring brands and conversations online allows:collect information on what the people are talkingabout keywords like names of brands, products andcompetitors. Competitive Intelligence, according to ABRAIC, is the“process that embraces the ethical search andcollecting of data, reports, formal and informalinformation (both the macro-environment as thecompetitive and internal company environment),filtered and integrated analysis and theirdissemination”. * Click to view the portuguese version of this presentation / Clique para ver a versão em chesscentral.com português dessa apresentaçãoSocial Media Monitoring and Competitive Intelligence
  • 3. Monitoring and Competitive Intelligence? A company can not be conceived only interms of competitors and customers. Macro-environment, cultural changes, trends,suppliers, citizens, stakeholders, economyand etc are actors and entities that influence thedevelopment of business opportunities and threats. You can use the collectiveintelligence available on the Internet to collectdata, identify trends and predict changes that willaffect the company. pt.fotolia.comSocial Media Monitoring and Competitive Intelligence
  • 4. New Sources of Information Most of systematizations of Competitive Intelligence defines fourgroups of information sources :- Government: regulatory agencies, regular publications, patents andtrademarks, competitive bids etc.- Specialized Interest Sources: publications, consultants, positionpapers, faculty, industry research centers, etc.- Private Sector: former employees of the target company, internethome pages, customers and suppliers, proprietary research firms,advertising and marketing agencies, in-house publications etc.- Media: articles, reporters, obituaries, advertisements and want ads,marketing studies and media kits, special issues etc.Social Media Monitoring and Competitive Intelligence
  • 5. Classic Sources of Information Today, with the spread of production and access throughinformation technology, all these four sources of data cited are ingreater or lesser extent on the Internet. But with Web 2.0 and social media, presence, relationships, eventsand conversations of users will also combine into a group of fifthsource of information. Therefore, the content and online social networks of people ingeneral should be observed. Social Media Monitoring and relatedsoftwares can be used in this process.Social Media Monitoring and Competitive Intelligence
  • 6. Types of Monitoring Commonly, brand and conversations monitoringon the Internet can be identified in one of fourtypes: - Brand Monitoring - Competitive Monitoring - Industry Monitoring - Publics MonitoringSocial Media Monitoring and Competitive Intelligence
  • 7. Types of Monitoring Brands and competition monitoring are the mostcommon and usually the first step taken bycompanies. Competitive and Industry Monitoring requiremore effort and investment, but can bring manyindirect inputs of information.Social Media Monitoring and Competitive Intelligence
  • 8. Types of Monitoring Examples of obtainable information: - For a B2B company, how about the health of the brand of client companies? - Any trend indicates the creation or dissemination of alternatives to your product and service? - Some technique, methodology or process differential in your company is now taught in courses? - Has been created a neologism for a service you already offer? - Leaders of two competitors began to relate online? - What are the capabilities of new employees from competitors?Social Media Monitoring and Competitive Intelligence
  • 9. CI and Monitoring Process Scheme (Lisa Callaghan)about how the Internet can bea center in the competitiveintelligence process. Replacing "internet" with"monitoring techniques andsoftware" we can think theprocess similarly. Esquema de Lisa Callaghan publicado no livro “Controversies in Competitive Intelligence”Social Media Monitoring and Competitive Intelligence
  • 10. CI and Monitoring Process Data Collection Quality: identify priorities; setting goals; list information needed;etc. Scope: choose media (news, blogs, linkedin, twitter)according to the goals; identify hubs,stakeholders and influencers;list key entities, etc. Method and Search Parameters: define keywords; add parametersto increase accuracy; refine searches according to diagnosedproximitySocial Media Monitoring and Competitive Intelligence
  • 11. CI and Monitoring Process Analysis Volume: establishment of relevant indicators; dynamic comparisonof data; levels of accuracy etc. Importance: define what is more important to be examined indepth; priorities internet, etc. Capacity and Source: develop capacity to interpret, identify andsolicit outside analysts; cross social media data with survey data,etc.Social Media Monitoring and Competitive Intelligence
  • 12. CI and Monitoring Process Distribution Communication Style: define intelligence products (alerts, reports,analysis, etc.); style of presentation according to available time andtraining; organizational tags, etc. Acess: define who can access what type of intelligence product;target according to the department; etc. Security: guide staff and stakeholders on security criteria; periodicreinforcement of security (passwords, authorization levels); etc.Social Media Monitoring and Competitive Intelligence
  • 13. Examples of Social Media Information- Consumer Trends One example is to observe thetrend of social consumption overtime and act (productdevelopment, eg.) at the righttime. The increase in positivementions to a product can showits increasing social acceptability. Social Media Monitoring and Competitive Intelligence
  • 14. Examples of Social Media Information- Search x Content Using tools like Google Insightsenables to observe how productlaunches generate demand forinformation and in some cases,official media coverage. The graph shows a linerepresenting the search for thebrand name while the other showsthe search by product category. The lines have similarprogression. In 2008 and 2009almost repeated themselves, butthe launch of an inappropriateproduct broke the trend in 2010. Social Media Monitoring and Competitive Intelligence
  • 15. Examples of Social Media Information- ProfessionalNetwork Using LinkedIn, for example, isincreasingly accepted as one ofthe standards setting ofprofessional linkage. You can analyze onlineprofessionals networks andperceive changes in professionalinterests of key competitors. Social Media Monitoring and Competitive Intelligence
  • 16. Examples of Social Media Information- Shared Contacts Observe contacts shared bystakeholders of specific companies allowsto identify what vehicles, professionalsand partners in common are references tothese decision makers. Social Media Monitoring and Competitive Intelligence
  • 17. Examples of Social Media Information- Temporal Changes The images show on cloud of tags, the time courseof most frequent words in the description of acompany from 1996 to 2010. 1996 2002 2006 2010Social Media Monitoring and Competitive Intelligence
  • 18. References More - ABRAIC - SCIP - Controversies in Competitive Intelligence: The Enduring Issues - The Managers Guide to Competitive IntelligenceSocial Media Monitoring and Competitive Intelligence
  • 19. Get in Touch: Tarcízio Silva www.tarciziosilva.com.br www.slideshare.net/tarushijio www.linkedin.com/in/tarciziosilva www.twitter.com/tarushijio eu@tarciziosilva.com.brSocial Media Monitoring and Competitive Intelligence