Business Model Canvas (BMC)- A new venture concept
Social Media Spills the Beans on Your Competition
1.
2. Why Social Media?
Gaining
a
leg
up
on
the
compe00on
has
always
been
important,
but
with
the
speed
of
modern
business
it’s
more
important
now
than
ever
before!
Word
of
mouth
and
simply
visi0ng
your
compe00on
can
provide
much,
but
we’ll
show
you
how
social
media
can
provide
you
with
the
insight
you
need
to
keep
ahead
of
the
crowd.
In
this
presenta0on,
we
cover
the
following
social
media
outlets:
• Facebook
• TwiCer
• LinkedIn
• Yelp
3. Facebook
The
Facts
•
900
million
ac0ve
users
•
Content
is
commented
upon
and
“liked”
over
3.2
billion
0mes
per
day
•
How
does
your
compe00on
interact
with
consumers?
4. Facebook
What
happens
when
people
“like”
your
compe00on?
•
Does
the
compe00on
par0cipate
when
fans
make
aaposts?
•
Does
the
business
interact
with
them?
•
What
happens
when
a
consumer
leaves
a
aacomment,
posi0ve
or
nega0ve?
•
How
does
the
compe00on
handle
their
interac0ons?
•
How
does
the
compe00on
engage
“new”
fans?
5. Facebook
Tip:
Don’t
only
pay
aCen0on
to
your
compe00on
–
how
well
do
you
do
at
being
a
friend
on
Facebook
as
a
business?
In
this
example,
you
can
see
a
Denver
brewery
interac0ng
with
fans.
They
interact
directly
with
customers,
and
their
“likes”
and
associa0ons
are
clear.
They’re
even
adver0sing
the
availability
of
food
carts!
6. Twitter
The
Facts
•
500
million
ac0ve
users
•
Exploded
in
popularity
back
in
2007
•
How
does
your
compe00on
brand
itself
through
TwiCer?
7. Twitter
Does
the
compe00on
Tweet
like
a
Twit?
•
How
does
your
compe00on
engage
with
followers
aaon
TwiCer?
•
Does
your
compe00on
make
the
4
key
mistakes
aawith
TwiCer
as
outlined
by
DigitalLabz.com?
•
Watch
the
amount
of
promo0on
that
your
aacompe00on
does
regarding
itself
and
how
much
it
aacirculates
the
content
of
others.
Good
use
of
TwiCer
aarequires
both
self-‐promo0on
and
the
promo0on
of
aaothers!
8. Twitter
This
Denver
restaurant
does
a
great
job
of
interac0ng
with
followers
in
a
0mely
fashion.
They
also
cross-‐post
from
their
Facebook
page
which
allows
that
content
to
get
to
a
wider
audience
of
readers.
They
also
ac0vely
“re-‐tweet”
the
comments
of
others
to
help
promote
their
business
through
the
good
reviews
of
their
customers!
9. LinkedIn
The
Facts
•
Most
popular
among
networking
professionals
•
Used
heavily
to
build
business-‐
to-‐business
rela0onships
•
Who
is
your
compe00on
connec0ng
with
in
the
industry?
10. LinkedIn
Who
is
your
compe00on
trying
to
get
to
know?
•
LinkedIn
is
a
great
place
to
figure
out
what
your
compe00on
is
talking
about
with
other
professionals.
•
Common
uses
of
LinkedIn
include:
•
Learning
new
technologies
•
Discussing
emerging
industry
trends
•
Finding
poten0al
partners
•
Finding
new
talent
to
bring
on
board
11. LinkedIn
Tip:
Who
are
your
brand
evangelists?
Make
sure
that
you
give
them
the
chance
to
give
your
company
a
public
recommenda0on!
In
this
shot,
you
can
learn
about
your
compe00on’s
featured
products
and
services,
as
well
as
what
other
professionals
are
saying.
Are
the
people
who
recommend
your
compe00on
poten0al
clients/partners
for
you?
12. Yelp
The
Facts
•
User-‐based
review
site
•
Primarily
for
service
and
loca0on-‐based
businesses
that
work
with
consumers
•
How
does
your
compe00on
deal
with
customers?
13. Yelp
What
do
consumers
have
to
say
about
your
compe00on's
business?
•
How
do
consumers
detail
their
experiences
at
your
aacompe00on’s
business?
•
Yelp
reviews
can
tell
you
what
your
compe00on
is
aadoing
right
and
what
they
are
doing
wrong
–
straight
aafrom
the
mouths
of
the
customers.
•
Learning
from
Yelp
can
help
you
recreate
the
success
aaof
a
compe0tor,
or
learn
from
their
mistakes
and
aamake
your
business
beCer!
14. Yelp
Tip:
Remember
that
while
businesses
are
allowed
to
own/start
Yelp
pages,
the
actual
content
reflects
the
input
of
the
users,
not
the
input
of
the
business
itself.
In
this
first
shot
of
a
Yelp
review
page,
you
can
see
the
general
stats
of
the
company
–
where
it
is
located,
the
name,
the
hours
of
opera0on.
You
also
get
a
look
at
the
qualita0ve
stats
of
the
company,
such
as
whether
it
is
a
good
place
for
dancing.
The
average
of
all
reviews
is
also
shown
at
the
top
of
the
page.
Can
you
use
this
informa0on
to
compare
what
people
think
about
your
compe00on
verses
what
they
think
about
you?
15. Yelp
This
is
the
shot
of
a
Yelp
review.
You
can
see
that
the
original
review
was
nega0ve,
but
the
business
responded
to
the
complaint
in
a
posi0ve
way.
From
this,
you
could
learn
that
this
tavern
deals
promptly
and
sympathe0cally
to
customer
concerns.
How
does
your
business
respond
to
nega0ve
feedback?
Do
you
work
as
hard
to
control
public
percep0on
of
your
business
as
this
tavern
does?
16. No Social Media?
What
if
the
compe00on
doesn’t
have
social
media?
•
Lack
of
social
media
could
indicate
several
things:
•
Lack
of
tech-‐savvy
•
Lack
of
desire
to
interact
with
customers
•
Lack
of
knowledge
about
the
importance
of
asocial
media
in
the
modern
business
aenvironment
If
your
compe00on
has
no
social
media,
make
sure
that
you
have
a
living
and
ac0ve
set
–
it
pays
off
in
spades!
17. Conclusion
Joining
social
media
opens
the
door
to
earning
trust
and
respect
from
customers.
Following
the
social
media
of
your
compe00on
allows
you
a
unique
and
detailed
look
into
what
they
are
doing
right,
what
they
are
doing
wrong,
and
how
you
can
do
beCer.
18. About
Jason Jewett
Jason
is
a
30-‐something
that
lives
in
Denver,
CO.
He
has
very
red
hair,
loves
the
outdoors,
and
all
things
homebrew.
Content Equals Money
Content
Equals
Money
is
a
content
wri0ng
service
that
serves
a
wide
variety
of
clients
with
top-‐shelf,
sharable
content.
http://www.contentequalsmoney.com
info@contentequalsmoney.com