WHAT IS SOCIAL BUSINESS INTELLIGENCE?
Social networks are now standard channels of communication. Facebook, Instagram, Snapchat, YouTube, Twitter and LinkedIn contain billions of conversations, giving us insight into the everyday needs and fears of customers, employees and competitors. These valuable insights are best aggregated via social media monitoring tools (conversations) and audience intelligence tools (self-description in bios). However, listening is not enough. There are tremendous untapped business opportunities waiting to be realized in key conversations between influencers -- insights about these influencers helps us to take action and step INTO the conversation.
Social Business Intelligence goes beyond listening. The monitoring tools are efficient at aggregating information but the savvy market intelligence expert curates/segments this data for each silo in the enterprise. Social Business Intelligence connects the dots and allows leadership to move from data to relationships today.
THE NET RESULT OF A SOCIAL BUSINESS INTELLIGENCE PROJECT (WHAT YOU GET FROM A S.I. PROJECT): The value of a social intelligence project is manifold, including the following benefits:
• discovery of warm leads related to psychographics and demographics from a customer’s current database.
• discovery of current trends and developments in a market sector that could lead to product/service innovation.
• discovery of a competitor’s activities that may aid one’s sales efforts.
• discovery of what your customers talk about, leading to product/service innovation and changes in marketing/sales strategy/tactics.
• discovery of new regions where your product/service is being discussed and your competitors are making money.
• discovery of upcoming events where you could generate awareness and sales.
• discovery of new pools of customers in digital networks. You may not have been aware of these pools of customers and their interests.
• discovery of conversations that social marketers and community managers can enter and utilize for higher brand awareness and sales.
• discovery of vendors and employees via professional networks like LinkedIn or the European Women’s Professional Network.