Social media is impacting all parts of organizations – and market intelligence is no exception, with new ways to listen, mine data from new sources, create “always on” communities, and understand behavior and visualize trends. “Social” technologies are changing the way people learn, make decisions and judge brands. Market intelligence professionals can leverage these new realities or risk irrelevance. This presentation covers:
• What world-class companies are learning through social technologies
• How to create a “listen-engage-measure-share” research model
• How social media can increase the value of market intelligence functions (and MI career paths) within organizations
• New best practices for using social technology to enable “wisdom of the crowd” internally and externally
2. 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
3. www.globalintelligence.com
Monster Worldwide
The 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
4. www.globalintelligence.com
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
5. www.globalintelligence.com
…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 5
Sources: Social Media Today and Hoover’s
6. www.globalintelligence.com
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
advocates
Avaya 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
7. www.globalintelligence.com
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
8. www.globalintelligence.com
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
9. www.globalintelligence.com
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