Competitive Intelligence & Economic Development: Reinforcing The Link

Published
by
Ian Smith
on July 1, 2009
in Author-Ian Smith and Competitive & Internet Intelligence
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The link between the practice of competitive intelligence and economic development is obvious however; it is taken for granted.  From the routine literature scan to the data mining of statistics in databases, these competitive intelligence activities can be considered as “just internet searching” for economic data.  To some, this label maybe unsettling and must asked themselves:

How can competitive intelligence professionals bring their expertise to the field of economic development?

The answer can be derived on three levels:

i) Understanding the issues:

At the root of economic development issues, lies Key Intelligence Topics (KITs) for competitive intelligence professionals.  For example, an issue of foreign direct investment attraction calls for investigating all companies that may have the means to invest in a foreign countries.  In addition, the conditions (locational factors) in  which the companies will take into consideration must be examined.  Responses to the KITs will assists competitive intelligence researchers in finding timely and relevant data in an efficient manner.

ii) Access the right information sources

Rather than depending upon a broad search of the web, competitive intelligence professionals can benefit from a toolkit of sources that is relevant to the mandate.   An economic impact study calls for researchers to collect secondary data from government sources that may not be available online for free.  Knowing the specific sources and how to access them will save time and money.

iii) Apply competitive analysis tools

With relevant data in hand, competitive intelligence professionals can bring further insights in an economic context thanks to such analysis tools as:

  • SWOT Analysis (Strengths, Weakness, Opportunities, Threats)
  • Porter’s Five Forces
  • STEEP Analysis (Social, Technological, Economical, Environmental, Political)

(Please view our presentation on competitive analysis tools or inquire about our training sessions)

Given the current global economic conditions, economic development initiatives must be executed with a strategic mindset.  In order to do so, the same competitive intelligence processes used in a corporate environment can be modified to supply data to decision makers to plan for the future to benefit economic stakeholders.

Start Following Intelegia On Twitter

Published
by
Ian Smith
on June 19, 2009
in Uncategorized
. 0 Comments

Intelegia is now on Twitter via two feeds.

For those who wish to keep up to date with our tweets regarding all things Web 2.0, click here

To focus on everything dealing with the field of competitive intelligence, follow here

White Paper: The Coming Change in Social Media Business Applications

Published
by
Ian Smith
on June 18, 2009
in Author-Ian Smith, Social Media Marketing and Web 2.0 Strategy
. 0 Comments

If you have a few minutes, we encourage you to take a look at the white paper, “The Coming Change in Social Media Business Applications” by Josh Gordon, President of Selling 2.0

The document is structured along the following discussion points:

  • Overview of the key issues regarding social media and its role in business
  • Business applications for Twitter
  • Business applications of social networks

Are Canadians Tweeting Alot?

Published
by
Ian Smith
on June 17, 2009
in Author-Ian Smith, Internet tools, Social Media Marketing and Web 2.0 Strategy
. 1 Comment

The answer: Not that much based on a recent Ipsos Reid poll.

The poll addresses the use of the micro-blogging tool by Canada.  In short, the key results of the poll are:

  • Only 26% of Canadians that use the web are aware of Twitter
  • One out of every 100 Canadians is using Twitter
  • The tool is the 17th most popular Internet site in Canada
  • The smallest amount of users of Twitter reside in the province of Quebec

In comparison, 11% of online Americans use Twitter or update their status on the web according to The Pew Internet & American Life Project. (February 2009)

The Ipsos Reid press release regarding the poll is available here.

Return On Investment on Twitter: DellOutlet

Published
by
Ian Smith
on June 15, 2009
in Author-Ian Smith and Web 2.0 Strategy
. 0 Comments

For those who are not too sure about how Twitter can benefit your bottom line, look no further than Dell Computers.

Along with their presence on other Web 2.0 platforms, Dell has a vast array of Twitter feeds as seen at http://www.dell.com/twitter.   Recently, Dell announced that they have made $3 million in sales from their tweets via DellOutlet.  A screen shot of DellOutlet is seen below.

More can be read on this impressive feat in the Information Week article.

The Many Faces Of Google For Business Intelligence

Published
by
Ian Smith
on June 12, 2009
in Author-Ian Smith, Competitive & Internet Intelligence and Internet tools
. 0 Comments

Too often, individuals searching business related information turn to Google and surfing through the listing of results from a general search.

It is important to remember that Google offers more than a general search tool for users.

The presentation, “The Many Faces Of Google For Business Intelligence” is now available on SlideShare.

At the end of the brief presentation, you will uncover the practical uses:

  • Google Alerts
  • Google Blog Search
  • Google Finance
  • Google Groups
  • Google News
  • Google Video

Interesting Web 2.0 Tools For Business Intelligence

Published
by
Ian Smith
on June 11, 2009
in Author-Ian Smith, Competitive & Internet Intelligence and Web 2.0 Strategy
. 0 Comments

If you mention the words, “Web 2.0 tools”, brand names such as Facebook,  MySpace and Twitter are often mentioned in the same breathe.  It should be pointed out that there are many other applications besides the three listed above.   Let’s take a quick look at some of the other Web 2.0 tools that may be interesting from a business / competitive intelligence point of view.

  • Tynt
  • social mention
  • BackType
  • DotSpots
  • Trackur
  • Web2PDF

Over the next few weeks, we will profile each of the applications with the help of screenshots.  Stay tuned.

The Strategic Use Of Web 2.0 Tools

Published
by
Ian Smith
on June 8, 2009
in Author-Ian Smith and Web 2.0 Strategy
. 0 Comments

For those who are familiar with Web 2.0 tools must have replied to one of the following questions in past year or so from someone who is not Web 2.0 savvy.

  1. Do you “tweet”?
  2. How can I get a blog?
  3. Do you Facebook?

These questions may sound silly to some however; those who are asking may have the need to know to better communicate with others via the web.

Although not at the same of the level of the questions as listed above, individuals must reflect on some issues before they wade into the relatively new part of the web.  Specifically, questions surrounding what makes the most sense in terms of achieving communication goals and dealing with various constraints should be addressed.

For the purposes of this post, online social networks and blogging applications will be discussed in the following case scenarios.

Case #1 : Introduction of a new financial literacy program for youth

An initiative to educate youth on personal finance management issue has be launched by the local community center.  With use of Web 2.0 applications, the center hopes to promote monthly seminars on various subjects.  At issue, what is the best tool to use?

a) Blog - A blog will enable organizers to share information in text and graphic form.  Attendees will also have the opportunity to refer to any past seminar sessions’ notes on the web via the blog.

b) Twitter - Setting up a Twitter account will allow the center to send out brief messages, (a.k.a ‘tweets”) to remind attendees (followers) of what will be covered in the upcoming sessions or refer to references elsewhere on the web.

c) Facebook Fan Page - A fan page will enable the center to have attendees who are Facebook fanatics to access information in all formats in another central location on the web.

What is the best option?  c)

Although blogs offer the advantages mentioned above, blogging may become a very time consuming task which encompasses the maintenance of outbound links and posting new entries on a fairly regular basis.

Messages via Twitter are limited  to 140 characters without any capabilities to post images or videos.

The fan page not only allows for the flexibility to post content in a variety of formats but there is a “viral marketing” element when individuals becomes fans.  A message stating that individuals has become a fan of the page will appear on their friends’ page index when they log in.

Case 2: Sharing insights regarding the annual symposium

Due to budget cuts, your industry association symposium only has the space for 300 attendees down from 600 attendees.  The association is turning to the Web 2.0 to find an avenue to share insights from speakers and sponsors.

a) Twitter - The Twitter avenue will allow the association to “micro-blog” on topics in real-time.  Followers of the Twitter page will receive updates via mobile telephone, laptop and or desktop computer.

b) Blog - A blog gives the association the power to expand on topics covered at the event.  Along with the unlimited amount of characters that the blogger can use to write the post, a blog provides the flexibility to embed audio, video and still images files.

c) Facebook Fan Page - The fan page can be a compliment to the existing event website where only fans can access relevant information as they log on and navigate to the page.

What is the best option?  a)

Sending out tweets would be the best alternative to keep individuals up to date.  In addition, it is not a time consuming activity.  Imagine tweeting as a presentation is taking place?

A very solid case can be made for setting up a blog however; taking into account the needs of the audience, short and concise messages are “reader-friendly” for individuals who are busy and use their cell phone to access information on the go.

Conclusion

Rushing to use a Web 2.0 application to meet communication objectives requires a plan.  In order to do so, all options in terms of the best tools should be evaluated along the lines of:

  1. The content or message that will be delivered
  2. The needs of the audience
  3. The resources required to properly maintain the tool

Competitive Intelligence Presentations On SlideShare

Published
by
Ian Smith
on May 28, 2009
in Author-Ian Smith and Competitive & Internet Intelligence
. 0 Comments

For those readers who cannot get enough content from Tools For Thought, you may now access our insights via presentations on SlideShare.

Our recent presentations centers around the theme of competitive intelligence.  We invite you to have a look at:

  1. Competitive Intelligence Analysis Tools - Provides you with nine competitive intelligence analysis tools that you should be aware of when conducting online research.  Get to know what information is needed to conduct SWOT and TOWS analysis along with Porter’s Five Forces, BCG Matrix just to name a few basic tools.
  2. Competitive Intelligence In A Web 2.0 Environment - Examines the practice of CI research given the multitude of Web 2.0 platforms which may offer strategic intelligence.  Case studies and various search tools are provided in this presentation.

The full compilation of Intelegia presentations is available at http://www.slideshare.net/intelegia

Have Cities Bought Into Social Networks?

Published
by
Ian Smith
on May 12, 2009
in Author-Ian Smith and Web 2.0 Strategy
. 0 Comments

Why is there so much interest in tools such as Facebook and Twitter?  From a marketing point of view, these tools are vehicles to communicate with consumers and enhance branding on the web.  Prime examples are Nokia’s Fan page on Facebook and Dell Computer’s multiple Twitter accounts.

Can the same Web 2.0 based marketing techniques apply to branding a city or region?  Let’s find out.

Using The 2008 Global Cities Index from Foreign Policy Magazine, the top 10 cities in terms of business activity were examined based on their presence of the two social networking platforms.  The selected cities  were  1. New York, 2. Tokyo, 3. Paris, 4. London, 5. Hong Kong, 6. Singapore, 7. Seoul, 8. Shanghai, 9. Beijing, 10. Amsterdam

Findings:

  • Of the 10 cities, three cities (i.e., Paris, London, Amsterdam) have a Facebook Fan Page
  • Of the 10 cities, seven cities (i.e., New York, Tokyo, Hong Kong, Singapore, Seoul, Shanghai, Beijing) do not have a Facebook Fan Page

Given the power of online social networks, one has to wonder what is taking cities so long to buy into the benefits?

  • Is it a question of money?
  • Is it a question of time?
  • Is it a question of awareness? (i.e., the benefits having  fan pages)

Research for this blog post led to some interesting finding in terms of cities / towns that have embraced social network platforms such as Facebook.

1. It was difficult to identify the official pages from pages created by citizens.  The set of criteria that were used to identify the city’s official page were:

a) Complete contact information
b) Wide Reach (number of members, fans and followers)
c) Link on the page to the city’s official website

2. Two very good examples that were found: Coventry City (U.K.) and City and County of San Francisco

Coventry City - http://www.facebook.com/group.php?gid=41296119424

The local government of Coventry City created a Facebook group with the objective of communicating with citizens regarding a new civic centre.  The group was an avenue to consult with stakeholders in which they used discussion boards and the wall as sounding boards. The image below presents a sample of posts made to the discussion board asking the question, “What you dislike about the city centre?”

City and County of San Francisco - http://www.facebook.com/home.php?#/sanfrancisco?v=info&viewas=1244463797

The City and County of San Francisco’s presence on Facebook can seen through a fan page.  The fan page is an extension of the city and county’s website.   Fans can easily access information from the local government via wall postings, photographs and video clips on YouTube.  In addition to being an information tool, the page can be viewed as a branding vehicle based on the many scenic photos placed on the page and events that are promoted.  Below is a screenshot of what is offered in terms of photos on the page.

Final Thoughts

  • A Facebook Fan Page is a logical extention to a city’s or region’s official website
  • Social network applications are excellent avenues to reach individuals within the 24 to 54 age bracket
  • Some cities have yet to realize the possibilities that social network tools offer to communicate with its citizens.