[PDF]Social Media And Business Intelligence

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ocial Media And Business Intelligence



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CIO Whitepapers

Social Media And Business Intelligence



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Social Media And Business Intelligence
First Edition

© 201 2 CIO Whitepapers & bookboon.com
ISBN 978-87-403-0309-4



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Social Media And Business Intelligence



Contents



Contents



Opening Words

Why Social Media and Business Intelligence?

Maturity

Cost & variety

User Friendly

Integration

The Time is Now



6

6
6
6
6

7
7



Preface: Social Media and Business Intelligence



Introduction



What is 'Out' in Social Media and what is 'In'



12



3 The 5 Pillars Of Social Media and Business Intelligence

3.1 Top CRM Vendors 2012 (via CIO Magazine):



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Social Media And Business Intelligence



Contents



3.2 Biggest Companies in Marketing Management and Automation:

3.3 Top Business Intelligence Products:



18

21



The 7 Key Reasons You Need Social Media And Enterprise Marketing



24



8 Key Social Media Metrics and Their Actionable Responses



28



The Nine Step Enterprise And Social Media Marketing Work Flow



31



Linking Enterprise Marketing To Internal Business Processes



35



7 Social Media Metrics That Drive Industry Development



39



Test The Social Media/Enterprise Marketing Waters For Free



41



10 Available Solutions and 17 Essential Questions to ask a potential vendor



50



1 1 Index - 5 Pillars, Top 5 White Papers on SMBI



54



12 About the author



55




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Social Media And Business Intelligence Opening Words

Opening Words

Why Social Media and Business Intelligence?

Social media and Business Intelligence are now inseparable. Even the most basic user of any social media
service asks himself such questions as "How many followers do I have?", "What's trending today?", "How
do people feel about...?"

It is the job of Business Intelligence to tease out these answers in a comprehensive and scientific way
so that the information can be organized and stored in a way that provides business value. This allows
for companies to gain competitive edge, cut costs and release products with a higher degree of success.

Combining social media and business intelligence for small and medium sized enterprises is even
more crucial. It allows them a greater audience reach, more effective targeting and greater cost savings.
Advertising and marketing campaigns can be created more efficiently.

Maturity

The market for these tools is now very mature. All of the top technology vendors, from IBM to Oracle
and Microsoft are fully committed to maintaining a permanent presence in the Social Media and
Business Intelligence space. Information on consumer trends, pricing, sentiment and requirements are
now available directly from the consumer and do not require outsourcing to third party surveys or last
years data. The content that comes from social media and feeds the business intelligence systems is
created and analyzed in real time.

Cost & variety

Today there is a wide variety of products and services available to serve a wide spectrum of budgets and
levels of technical expertise. Some companies may require deep analysis of big data, while others merely
need to check in on Facebook statistics. Developing your SMBI (Social Media/Business Intelligence)
strategy requires you to evaluate your budget, requirements and technical abilities.

User Friendly

Gaining business insight from social media interaction data is no longer a matter of hiring a database
administrator to churn out reports, hoping that he understands the business points you are trying to
uncover. Today, most SMBI tools allow a business oriented end user access to the user friendly dashboard
that provides a wide variety of views and perspectives on real time data.



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Social Media And Business Intelligence Opening Words

Integration

Because these tools are now so user friendly, they have now permeated throughout the entire business
structure and are informing the internal business processes of many organizations. Real time social
media analysis doesn't just define what products to make, it also defines how those products are made. It
doesn't just facilitate customer relations, it defines them. Companies that can effectively tap into customer
requirements along with market trends will be best positioned to succeed.

The Time is Now

Two years ago one could be forgiven, perhaps, for seeing marketing via Facebook and Twitter as a trend
that would soon be replaced by another technology trend, the same way that Second Life seemed to have
fallen off the map. This technology trend does not rely on Twitter and Facebook, however.

Take those two web sites out of the equation and the phenomena of social media will still be present and
continually evolving. The issue isn't a particular web service, its an overall redesign of communications
technology. This new technology creates and makes available massive amounts of communications,
relationships, sentiments, trends and demographic data. This data is now presented in easily readable
format and made freely available via a huge set of tools.

In the same way that traditional businesses could not succeed without marketing, a business today
cannot succeed without using the powerful insights that social media and business intelligence provide.

Without the combination of Social Media and Business Intelligence, business today is simply not
possible.



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Social Media And Business Intelligence Preface: Social Media and Business Intelligence

Preface: Social Media and Business
Intelligence

Social Media is already very well known and widely used, but there is still a great deal of misunderstanding
as to how it can be used effectively by business organizations. There are many claims that social media
is essential to business, but understanding the hard science behind how this relatively new technology
can create solid ROI can be confusing.

In this textbook you will cover the relationship between all the useful data that social media generates
and a companies marketing, product creation, CRM and business processes.

It covers the current state of mature technologies and methods for getting the most out of social media
data by using analytics and business intelligence.

This paper is provided by ClOWhitePapers, a leading source of technical white papers by industry experts
such as Oracle, IBM, Google, Forrester Consulting, Wildfire, Hootsuite and a wide variety of drivers in
the Emerging Marketing and IT sector.

ClOWhitePapers also publishes a free companion to this paper, TOO pages, 100 Tips - The Definitive
Social Media Strategy Kit'. It is a comprehensive set of rules that industry leaders follow when running
their own successful social media marketing campaigns. It provides details on how to run a campaign
and get the most out of the business intelligence a well monitored effort can provide.

100 Pages, 100 Tips, Definitive Social Media Strategy Kit



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Social Media And Business Intelligence



Introduction



1 Introduction



Since 2010, when Social Media first became an internet buzzword, it has proven itself to be not only a
cultural facilitator, but also a very real business tool. Social networks powerfully differentiate themselves
from previous internet marketing channels in that on a daily basis, they are gathering, parsing and sorting
the commercially valuable demographic data of the end user.

Social Media now describes wide range of services, communications and evolutions that are concurrently
taking place throughout cyberspace. While the phrase is descriptive, it is better to think of it as one of
many views of the internet. It is important to recognize social media as a subset of a larger whole where
the component parts and various platforms, protocols and devices are all different ways to see the same
distributed information, communications and manufacturing networks.

What has generated a lot of the attention on the phrase social media is its potential to bring larger
customer bases to smaller organizations that produce for increasingly niche markets, to make target
customer metrics more granular and to enable the empowerment of the end user and client, giving them
a sense of governance over how the products that serve them are created.

This is because social networks bring the following functionality to the table:



Real-Time
Contents
Trends



User

Interaction

Data



T



Business
Intelligence/
Analytics



Demographic
Data



Friends &

Relationships



Location
Data



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Social Media And Business Intelligence Introduction

Collection of user demographic data.

As social networks and internet applications grow more complex, extended and more niche specific data
is now being accumulated and distributed to companies who use this data to learn more about their
customers and create more effective, timely and authentic promotions.

The ability of user<->user interactions to create evangelistic communities.

Face to face promotion of a product from satisfied customer to potential customer is some of the most
effective marketing available today At the same time it also provides a reliable source of research for
people considering a particular purchase. When amplified by the scope and processing speed of the
internet, it is an extremely powerful form of promotion.

Companies are fooling themselves if they think that they can continue with traditional media alone. The
potential benefits of initiating an evangelical wave are enormous in terms of generating loyalty, audience
reach and sales. The trick and area of development that needs to be mastered is how to generate these
waves in such a way that is reliable and measurable.

The fact that as a socially interactive medium, the internet serves as a powerful link between
internal corporate processes and the client/consumer who is also the end user of a social network.

The appearance of this pathway between functions in the business cycle is just beginning to define itself,
but it is already clear that there are a few gaps that will result in extensive opportunities for companies
that can facilitate efficient flow and interpretation of data along these roads while demonstrating tangible,
not ethereal, ROI.

The pulse of ongoing dialog within Social networks/media can be tapped to reveal community and
consumer sentiment to a degree that traditional poll/ focus group measurements cannot, particularly with
regards to authenticity, the proximity to how a client or customer feels outside of a controlled environment.
In addition, this consumer feedback is digitally inputted and easily parseable in a way that is suitable for
Business Intelligence and operations processes to consume and turn into ongoing optimization.

Of course, there is a lot of hype about social media, and this overabundance of exuberance has resulted in
many people overlooking the actual tangible benefits of the phenomenon in terms of its ability to, at the
end of the day, make more money. Social media by itself, does not generate cash. This has probably been
overstated by now to the point that the internet consulting space is overflowing with people practically
advertising their ability to not make money on the web, as though this is an unproductive behavior.



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Social Media And Business Intelligence



Introduction



They instead talk about social capital, social authority, mind share and all manner of methods to gain
high social ranking, it is social media after all. Social Media is no longer a buzzword for slick marketing
gurus, it is a real group of technologies that enable businesses to make more money. It fits into the
business cycle between product creation, business strategy, public relations, marketing and business
intelligence. The appearance of a social internet has revealed a path between all of these previously
disparate areas. While one or two have been connected before, today the development of a pathways
between all of them is now plausible.

The technology gaps that existed in 2010 have been rapidly filled by various companies and organizations.
They are using new applications and methods to create a more compelling value proposition to their
existing and potential customers. Companies that are top in their industries are now create efficiencies
and gain valuable real time insight that allows them to be more flexible and agile in serving their base.
This opportunity has been particularly kind to small and medium sized businesses, who have been able
to rapidly gain new customers that had previously been very difficult to find.

Social Media creates a unique set of links in a chain that connect customers to the companies that serve
them. Each link provides large amounts of data that in turn allows companies of all sizes to gain massive
competitive edge.

In this white paper we'll take a look at the various components of this chain, as well as the areas that
need further development in order for companies of all kinds to either contribute to or benefit from
this technological evolution.



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Social Media And Business Intelligence



What is 'Out' in Social Media and what is 'In'



2 What is 'Out' in Social Media and
what is 'In'

First, let's take a look at what has gone out since 2010 and what has gained traction and shown real ROI.



Out


In


The Social Media Guru: The guy who has all kinds of 'soft'
communication strategies and is an expert in creating a
twitter account.

A short lived phase during which people with a sales
background attempted to ride the hype into big money. They
had little technical expertise.


Social Media Analytics, Business Intelligence.

With data now largely available via APIs and various analytics
services. The job is to form an engaging content strategy and
monitor interaction with it.


Web Tools to Broadcast to Multiple Social Media Sites,
(ping.fm)

Useful for a time, but many of the sites now offer cross platform
publishing. There are plugins on Facebook, for example, which
allow for posting to Twitter.


Broadcasting Coupled with Analytics

This has caused sites like ping.fm to differentiate themselves by
adding analytics to their product offerings. By teeming up with
seesmic, they have done just that.


Web Analytics
>>>