Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence
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A presentation I did at Hive @ 55 in NYC on October 7, 2010.
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Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence
- 1. Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence Some basics Hive at 55 presentation October 7, 2010 by Regina Walton
- 2. Why are we here? Why do we care? By now everyone has heard about social media and what it can do to promote your business, build your brand or establish you as an expert in your field.
- 3. Definition What is Social Media? Social media essentially is a category of online media where people are talking, participating, sharing, networking, and bookmarking online. Most social media services encourage discussion, feedback, voting, comments, and sharing of information from all interested parties. It's more of a two-way conversation, rather than a one-way broadcast like traditional media. Another unique aspect of social media is the idea of staying connected or linked to other sites, resources, and people from Social Media Marketing 101, Part 1
- 4. Why? Social media helps: manage your company's or brand's 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, it's typically cheaper than traditional marketing.
- 5. 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 What's 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
- 7. How? This is where listening comes in. You should have a good idea about where 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 Playbook No matter where they are, you have to be there and provide some sort of value. Get into the conversation. Start a debate or discussion. Express your point of view and expertise.
- 8. Content Strategy Social Media Examiner: How Content and Social Media Equal Marketing Success Good video here but it's 12 minutes long, so watch it on your own.
- 9. Measure, Adjust, Repeat Measuring is key Traffic Who is reading your content and where are they coming from? Where, when and what? Friends or followers Comments Subscribers Mentions
- 10. Competitive Intelligence The Dark Side... Not Really (but it's fun to say.)
- 11. Definition "...the purposeful and coordinated monitoring of your competitor(s), wherever and whoever they may be, within a specific marketplace..." from What is Competitive Intelligence? Online Handbook (goes over the basics): The Competitive Intelligence Handbook
- 12. Some tips 1. Monitor popular keywords within your industry. For home renovators, it could be “renovations”, “home improvements”, “DIY repairs” or “home projects” 2. Keep a steady eye on competitors to see what’s being said about them. In particular, focus on people who are complaining about bad products, service or customer service. Then, step in by offering advice or help, while shying away from trying to sell them something. 3. Look for conversations about trends within your industry. For home renovators, it could be chatter about new kitchens, bathrooms or energy- efficient appliances. Then, you can participate in the conversations by providing advice, insight and recommendations. from Using Social Media for Competitive Intelligence
- 13. How? (A lot of this is the same stuff) Private Twitter lists How to Market Your Business With Twitter Lists Yahoo Pipes (or maybe it's 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 you can use an example like this to set up your own strategy) A Wiki of Social Marketing Examples Track influencers Track traffic: Compete.com Etc., etc., etc.
- 14. C'est Moi Regina Walton reginawalton@gmail.com Twitter: @ReginaWalton LinkedIn: Regina Walton