Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence
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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
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A presentation I did at Hive @ 55 in NYC on October 7, 2010.
Transcript of Social Media Basics and Using Social Media to Monitor the Competition or Competitive Intelligence
Social Media Basics andUsing Social Media to Monitor the Competition or Competitive
IntelligenceSome basics
Hive at 55 presentationOctober 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 to promote your business, build your brand or establish you as an expert in your field.
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
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.
Okay, great, but how?
ListeningFollow key people and brands
What are the topics?How do people feel?What's the tone?Points of view?
RSS feedsSubscribe to relevant blogs
Google alertsYour business and competitors
TechnoratiOn-topic forums
Social BookmarkingStumbleDel.icio.usDiggReddit
Get in the conversationBloggingTwitterFacebookForums
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 - probablyLinkedInMySpace (...really?)Bloggingwhite papers, ebooksPodcastsGood 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.
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.
Measure, Adjust, Repeat
Measuring is keyTraffic
Who is reading your content and where are they coming from? Where, when and what?
Friends or followersCommentsSubscribers Mentions
Competitive Intelligence
The Dark Side...Not Really (but it's fun to say.)
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
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
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 influencersTrack traffic: Compete.com Etc., etc., etc.
![Local Social Media Is Your Competitive Advantage: Part One [eBook]](https://static.fdocuments.in/doc/165x107/554d1d82b4c905ca208b48b2/local-social-media-is-your-competitive-advantage-part-one-ebook.jpg)
