Competitive Intelligence Webinar and Demo taking a close look at non-traditional sources of competitive intellegence, resources, and Compete PRO to help you connect the dots between the 10,000ft view of Traditional Sources with the more granular social media sites and blogging platforms. In the webinar we took a closer look at competitors of the custom shoe market, as if we were New Balance with their new US574 offering.
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Advanced Competitive Intelligence Techniques Hosted by Compete in partnership with SoDA
Presenter: Lindsey Mark
Compete Client Relations
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Introduction. Lindsey Mark Compete Client Relations http://linkedin.com/in/lmark Twitter: @linji Email: [email protected] By invitation, Complete Inc. have offered to provide our industry group with an informative dive into how their analytical tools can provide comparative metrics from which we and our business management peers can draw strategic conclusions. Join us to dig deeper into how to use Compete’s tools to first understand your competitor's traffic acquisition strategy and then leverage this information to aid in business development and retargeting efforts.
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Using Traditional Information Sources
Competitive Intelligence Gathering
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Today we’re going to discuss a practical example of using Compete’s PRO Competitive intelligence tools to fill in the gaps between high-level resources and granular social resources.
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Classic Sources of Business Intelligence
Subscribers
Sales Volumes
Annual Reports
Photo credit - andymangold
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Typically we look to analyze competitors by public information about sales volume, subscribers and annual reports to find online business data. Given this information relatively static (typically released quarterly) it’s difficult to synthesize these numbers into actionable information, particularly for large multi-national brands with numerous business units.
Given some of the standard sources of information we can make lop-sided approximations on how we envision will happen in the future. However, our clients and management prefer assessments grounded in structure and the same baseline data sources. Ultimately we’re tasked with looking for supporting information to confirm our hypothesis’ about the industry landscape. Today we’re going to talk about places to find this information.
At 2miles up it’s hard to understand the “why” behind shifts in industry performance. In this webinar we’ll show you a handful of ways to get a closer look. Especially when you’re looking at global brands with multiple products & business units.
Today we’re going to look at non-traditional CI sources and look for data-supported suggestions you can give your clients.
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Five alternative sources. Where Else Can I Look?
Tumblr.com
Flickr.com
YouTube.com LinkedIn.com Slideshare.net
Photo credit - eschipul
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Blue = Large Brands & Services (b2b) Green = Brand, Consumer products, User Generated Content Keep in mind to understand “who” is publishing this information and where they found it. *site your sources*
A great place to find graduate & Professional level market research & stats/trends. Raw statistics Competitive strategies Market Research Industry / expert outlooks Best practices Trends Competition's positioning/marketing approach Creative copy from brands & other agencies Also keep in mind that Advanced Search techniques will help greatly in finding this information faster.
Linkedin can give you a wealth of knowledge about company performance with the addition and retention of employees as well as their social media updates. Additionally, employees often accidentally leak information, particularly individuals in sales organizations, because they’re looking for impressive talking points and don’t realize they’re sharing information that would give details of performance or company size. Sometimes we’re lucky to have employees of some competing organizations that have shared internal industry knowledge or ways they creatively solved issues and accomplished tasks with the intent of filling out their public profiles. On the creative side, you can access information, collateral, etc from these individual’s personal websites, when not displayed directly on linkedin they often connect their personal sites to this network.
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User Generated Content
Think of advertizing as a dialog.
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With the prevalence of SM and power of personal recommendations, we can no longer think of our efforts in marketing as a monologue. Rather we need to think of new ways to engage our customers into a continuous dialog, never losing touch of their needs and the relationship they form with the brand. Please keep in mind that UGC often works best for product marketing rather than services and b2b CI.
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YouTube Insights
Channel Subscribers
Video “View” Performance
Top Engaging Content
Use the Advanced Filters to segment via content & channels.
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Youtube is one of the largest search engines on the internet. Given many of your clients are larger brands you can use youtube videos to inform your understanding of brand initiatives', positioning, subscriber base for each channel or initiative, as well and getting a good understanding of what types of content resonate with their intended audience. You can also keep an eye out for customers, partners, and other related organizations who follow your competitor, and likewise who are followed by your competitor. Sometimes, albeit rarely, the people who comment on videos may be useful to monitor – they may be customers, brand advocates or other interested parties such as developers. Any information that you can learn about them may help you paint a fuller picture of your industry competitors and the way that other’s perceive those brands. We can also equate the channel activity similar to SEO, in which not only the relevance of the material but also the frequency of updates matter. The more continuously updated the brand channels are and the better they engage their community, the more “relevant” their brand will be in that specific segment.
Stats are a great place to better understand your audience. In the custom shoe market, the demographics skew Younger and tend to be male. In conjunction with CI tools you can also get a better understanding of what videos drive the most attention and also based off of which keywords and overtime what brings them to a critical mass in being shared.
While this works best in consumer products rather than services, flickr can be a powerful to for creative inspiration and pitching social initiatives. In this slide I’ve searched for the word “custom” in the Converse World Dominiation Group on Flickr. As you can see there is a steady stream of interesting consumer generated content engaging with this brand. Think about how you can bring this level of engagement to your clients. Converse group you can get a consumer perspective of the way they interact at a brand level. If you look at New Balance’s group you’ll notice it’s extremely corporate. The question would be how can NB foster this kind of brand interaction in their custom segment. How can you increase interest in creative individuals to galvanize them as brand ambassadors?
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Tumblr Insights
Search Tags Note Engaging Content
Research Top Contributors
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tumblr is a quickly growing microblogging site…. While typically also a source that works best for consumer brands, Tumblr has been growing exponentially as micro blogging and social networks have been proliferated across the web. In this slide you can see that Ashley’s “ablogforblogging” has 51 interactions for her custom shoe creations. Given that she’s repurposing other brand names on these shoes you can learn a bit about how business development deal could be incredibly lucrative for TV Series & Shoes. Her use of tags helped get this post a lot of attention with people engaged with these shows. As a side note you can also “track” tags of interest so that you can stay on top of content from these sources that my interest your clients or help you with creative work.
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1. Time consuming
2. Sources can be inconsistent, inaccurate, and outright false
3. Real-time & always updating (difficult to manage)
Some positive and negative aspects of Social Insights and User Generated Content. It’s also good to keep an eye out for new social sites that are gaining momentum as a great place to pitch new social initiatives to clients. Ex: Pinterest.
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Where do I start?!
High-level Classic Sources Granular Social Sources
Photo credit – uggboy / viamoi
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So you have high-level sources & granular sources but both of those take a lot of time to gather/figure out. Additionally, you can spend a lot of time spinning your wheels if you’re looking in places that aren’t really helping your clients. So to save time and energy, I’d recommend taking at look at CI tools like compete.
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Want to know what sites display ads are featured on? Moat is a great resource to see what copy is being used & you can confirm the effectiveness of traffic flows using compete
• Timeline • Past hour, 24hours, Week, Month, Year, Custom Range
• Local • Choose Location
• Related Searches
• Page Specific Search • Site:“exdomain.com” + Keyword
• Allows you to search a specific website for keyword information.
• Related:“exdomain.com” • Great for finding competitors for smaller websites & allows to use keywords to see the relationship to
similar domains. (E.G. related:nike.com sailing – results highlighted for Puma.com_
• Link:“exdomain.com” • Great for understanding who is linking back to your client or their competitors.
Adding context to your research and assumptions Flex your Google Search Skills
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Advanced search techniques will only allow you to find the information you’re looking for faster and more precisely. Here are some great examples of techniques I use all the time in google.
• Google Social Search • Keep in mind this will give you results based off of YOUR profile and
contacts.
Advanced Search Techniques Differ from Platform to Platform Social Search Skills
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Twitter Search Use # to find insights on Social Campaigns Use @ to find insights on engaged Users (brand advocates) Use :) to understand what is making Customers happy and to find opportunity in the things that frustrate and upset them. These are great for getting an inside look into the minds of the customers for creative purposes.
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