Do you know what social competitive intelligence is?
By taking a look at the custom shoe industry, it is becoming more and more clear to marketers across industries that a true consumer is one who believes that the things they buy contribute to their quality of life. For dedicated and seasoned shoe aficionados, there is often no ceiling for what he/she will pay for a quality brand.
During a Direct Marketing News webcast, Lindsey Mark of Compete Client Relations spoke about integrating competitive intelligence into a strategic planning process as a part of marketing strategy; the custom shoe industry is no exception.
Mark uses the custom shoe industry as a framework for analyzing industry leaders and provides recommendations for New Balance shoes. Mark has studied the presence of custom shoe retailers on social media networks, including Slideshare, YouTube, Tumblr, Flickr, and LinkedIn. Through these sites, readers can scour through the competitors’ YouTube channel to see who their subscribers are and how subscribers are engaged. So far, Compete Client Relations has observed a few particular platforms’ strengths in the custom shoe industry.
Social media platforms use by shoe retailers
- LinkedIn is used to sift through profiles of the competition’s employees
- Flickr’s user generated content: Converse advocates tell creative stories of how they are living with the brand
- Tumblr, which also benefits the shoe industry with user generated content, has been noted for providing social insights into who the top contributors are
Traditional ways of measuring business intelligence – such as sales volumes, subscribers, and annual reports – involve static information that is hard to dissect. Using social media to learn what the competition is doing on their network is an extremely powerful tool for marketers.
There’s no shortage of competitive creativity in the industry, either. MiAdidas, whose name shows its unique approach to brand awareness, benefits mainly from paid search results. But YouTube celebrates videos of customers receiving and opening their shoe boxes excitedly.
Analyzing consumer behavior associated with particular brands is an integral part of a successful marketing strategy. From shoes to travel to automotive, Kantar Media Compete delivers digital intelligence based on consumers’ online behavior.
Follow Lindsey Mark on Twitter @linji.