Competitive Intelligence on a Startup Budget

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Presented 4/19/13 at the fabulous BlogaTech conference in DC

Text of Competitive Intelligence on a Startup Budget

  • 1. Competitive Intelligenceon a startup budget.April 18, 2013

2. What do you want to know? 3. Before you can plan, you need context.CompetitionIndustryBrand position in the marketplaceTarget audience (lifestyle, demographics, etc.)Opinions, reviews, satisfaction, dissatisfactionBenefits 4. What is your objective?Launch campaignsAwarenessDrive trafficOutreachProduct/service development (testing)Other consultation partners 5. Tools You Can Use Mention Make it an alert And share 6. Tools You Can Use Biznar (Feed) 7. Tools You Can Use Social Mention (Feed) 8. Enter Netvibes 9. Enter Netvibes 10. Enter Netvibes 11. Enter Netvibes 12. Enter Netvibes 13. What else can I monitor? Instagram feeds Anything with a search feed/RSS feed Twitter searches The possibilities are endless 14. Can I talk a second about Boolean Searching? Garbage in, garbage out. Most systems allow for advanced searching. Think about your search terms. What do you want in? What dont you want in? Any whole sites to eliminate? Date parameters? Any search terms that bring a ton of spam? Okay, enough of that. Sorry. 15. Now what? All the data in the world does not make a strategy. Drill down into the results to get specific information becreative. Think like a strategist. Ask questions. Use your imagination. Test your theories, look for examples in the real world.Now what else do you need to know? Good strategicresearch often leads to more questions! 16. What can you do with all this new knowledge? Use it as inputs along with other research, knowledge,feedback. Consider implications are they widespread? Isolated? But wait, theres more 17. Spotting Trends is VitalTrends are a great way to spot deltas which often provide indicators of the health of campaign. 18. But seriously, what can I measure?WHO - Who interacted? What do you know about theseconsumers?WHAT - What was discussed? What was shared? Engaged?WHERE - Where were the conversations happening - socialchannels or geography?WHEN - When did the results happen? Context?WHY - Why were consumers engaging or feeling this way?HOW - How much of an impact did the social marketing have?How do results hold up against benchmarks? How do theytranslate to brand metrics? How does this add to the bottomline? 19. Listen.Monitor.Knowledge is power.