Post on 21-Jan-2015
description
www.globalintelligence.com
Social Media and Market Intelligence:
What MI Professionals Need to Know
Ellen Julian, Monster Worldwide
www.globalintelligence.com
Agenda
• What world-class companies are learning through social media
• How social media can increase the value of market intelligence functions
• New best practices for using social technology to enable “wisdom of the crowd” internally and externally
• Changes to benchmarking and how to create a “listen-engage-measure-share” research model
• Resources for Learning More
2
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Monster WorldwideThe world’s leading marketplace of jobs and talent where people and opportunity are matched with unrivalled precision.
1Internal Monster data, average, January 2008 – September 2010; *Volumes do not include ChinaHR, Monster Gulf nor any non-tracked sources; 2comScore: Global Total, August 2010
On a daily basis:> Over 58,000 new resumes are
added to the Monster Global Resume Database1
> Over 8 million searches are performed on Monster Worldwide Properties every day1
Every month, Monster's brand will:> Reach more than 91M unique
visitors globally> Be shown more than 4.6 billion
times across Monster's Career Ad Network.2
- page 3
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World-class companies are embracing social technologies…
“Social is taking root in all aspects of business…Your customers are hyper-Social and your business needs to be too.”-Tribalization of Business, Beeline Labs, Deloitte and the Society of New Communications Research
“Social media is an instrument not only to be able to listen to what customers are saying, to what their employees are saying, but as a platform to where the next new product is going to come from”, John Chambers, Cisco -Executive Vision: Leadership in Action, CNBC / Oct 11 2010)
“Pairing CI with social media broadens the scope of the CI function to include additional tactical and strategic information.”
-Social Media Today - page 4
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…But if you aren’t using social technologies to enhance your intelligence capabilities, you’re not alone• A 2009 survey by Hoover’s found
that 75% of respondents didn’t use social media for competitive intelligence
◦ CI professionals are used to relying on formal and analytic data but social media yields more informal and emotive sentiment
◦ When it’s handled right, social-media CI fits into the broader contexts of your other CI efforts
- page 5Sources: Social Media Today and Hoover’s
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How using social media increases the value of market intelligence functions
Combats misinformation about your company and products
Super charges your early warning capabilities
Enables deeper insights for improving products and messaging
Identify misinformation in real-time
Hone in on potential competitive developments
Glimpse the needs of your target market
Provide facts, references, and links so that marketing and investor relations can respond to erroneous and misleading information
Tap into the social media grapevine for patterns and evidence (customers, vendors, partners, pundits..)
Track reactions to your products and messaging; indentify new market requirements
Convert naysayers into advocatesAvaya landed a $250,000 deal that started with a conversation on Twitter
Identify new alliances and products in alpha/beta - among other examples
Inform the product and marketing roadmap
- page 6Sources: Social Media Today and Crimson Consulting
Capability
Actions
Results
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Getting started-external
• Map out influential sites for your industry • Get the green light from your legal department and your
network security team • Set up RSS feeds, Tweetdeck, Slideshare, etc • Join conversational Groups
- page 7
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Getting started - internal
• Create or leverage conversational communities within your company
◦ Intranet; SharePoint; email◦ Shared documents; Wikis
• Leverage Enterprise Social Networking Tools:◦ Microblogging◦ Shared knowledgebase◦ Interactive people mapping and Groups ◦ RSS Feeds◦ Outlook social connector
- page 8
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Social media are changing how benchmarking can be conducted
• The rise of cooperative benchmarking
• Lower threshold for companies to engage in benchmarking
• From a one-time action to a continuous, iterative action
- page 9Source: GIA Whitepaper and Webinar: How Social Media is Redefining Benchmarking
www.globalintelligence.comSource: Monster- Recruiting 3.0 Page 8
Real-Time MonitoringBrand Monitoring Media Monitoring
Influencer Identification
Real-Time Engagement & Scheduled Content
Measure & Analyze
Listen, Engage, Measure, Share
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Resources for Learning More
• http://www.monsterthinking.com• http://www.socialmedia.org/ • http://smartblogs.com/socialmedia/ • http://mashable.com/2009/06/02/social-media-policy-musts/• http://www.socialmediatoday.com • http://www.globalintelligence.com/insights-analysis/white-papers/How
Social Media is Redefining Benchmarking• http://www.hooversbiz.com/2009/05/06/using-social-media-for-
competitive-intelligence/
- page 11