Social Media and Market Intelligence

www.globalintelligence.com

Social Media and Market Intelligence:

What MI Professionals Need to Know

Ellen Julian, Monster Worldwide


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


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


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


…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


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


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


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


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


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

Social Media and Market Intelligence

Business

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