by Fronetics | Oct 6, 2015 | Blog, Marketing, Social Media, Strategy, Supply Chain
Companies within the logistics and supply chain industries have been slower to participate in social media than other industries. The primary reason being because of a lack of understanding of what social media is and the role it can play for business. Unfortunately, companies who do not participate in social media miss out on opportunities – and revenue.
Every day conversations are taking place about your company, your products and services, your industry, and your competitors. These conversations are not just happening over the water cooler, they are happening on social media. These conversations not only provide invaluable (and often strategic) information, they also serve to shape and define your company and your brand. With the advent of social media, the reality is that is the customer who drives your company’s image and brand message. If your company isn’t on social media you miss out.
Social listening
Social listening is the process of monitoring social media to identify and assess what is being said about a company, individual, brand, product, or service. Through social listening your company can not only become an innovation engine, you can also gain market intelligence, and you gain intelligence about how your company, products, and services are being perceived. Knowing this information in real-time is invaluable.
Caterpillar is one company that has embraced social listening. Caterpillar engages in social listening with the objectives of gaining deeper insight into:
- Who is talking about the company;
- What is being said about the company;
- What competitors are doing;
- Key influencers;
- The tone of conversations that are taking place.
Kevin Espinosa, Caterpillar’s eBusiness Loyalty Manager, further discusses the company’s social listening strategy and the benefits of social listening:
“If you haven’t started already, you have to start with social listening. It’s like building a large campus without the sidewalks. Let your audience lay down the paths and sidewalks they want to take. They’ll tell you where they’re participating and what they need. Then you can backfill with a strategy that addresses their needs. This is the push aspect of social media. Eventually, you get to the pull aspect, where the customer is a big contributor to your social media strategy. This is where there is truly two-way dialogue and relationship building.”
Engagement and action
To reap the benefits of social listening, including increasing your revenue, you need to use the information and intelligence gathered. For example, if you learn via social media that your customers are experiencing issues with a specific product, take steps to determine what the issues are, and then make changes to the product. The Aberdeen Group offers additional examples of how social listening has been and can be used: “companies can use the voice of the customer to make critical adjustments and find issues related to inventory allocation, order management, returns management, cost, overall service satisfaction and beyond.”
The opportunities the supply chain and logistics industries can realize through social listening are great. Not participating in social listening results in missed opportunities.
This post originally appeared on Electronics Purchasing Strategies.
by Fronetics | Sep 30, 2015 | Blog, Marketing, Social Media, Strategy, Supply Chain
The social economy is estimated to be $1.3 trillion U.S. dollars annually. Social media is more than a collection of personal commentary, photos, and inspirational quotes. Increasingly, social media creates an opportunity to gather information, and social media is becoming a useful tool for businesses to connect with other businesses and clients. Although Facebook is notorious for gathering information, social media companies are not the only companies who can gather intelligence.
Data Gathering
Gathering of intelligence has never been easier. Although there are still traditional indicators of sales and traditional feedback loops, the age of social media allows for swift collection of intelligence. According to McKinsey, “Analysts typically spend 80 percent of their time gathering information before they begin to analyze it. Social intelligence radically alters this process. Numerous tools allow analysts to create dynamic maps that pinpoint where information and expertise reside and to track new data in real time.”
Capturing the Consumer
Collecting information from your consumers online— the good, the bad, and the dirty— can help you understand consumer sentiment around brands. By searching for key words or terms you may improve sales strategies, product placement, or understand demand cycles.
Do you want to see what clients and consumers say about you and your products, about their reliance, frustration, appreciate of your role in the supply chain? You should! But you can also have a look at what is trending, what your competitors are doing, and how you can gain traction through social media. The window is a unique opportunity for you. If your competitors are garnering more views, figure out why. Do they highlight their employees? Do they link directly to items for purchase? Do they use keywords you’re not using? Are they presenting themselves as leaders in the industry by blogging?
Storm Surge
Storms happen, and they’re stronger than ever. Natural disasters will never cease. Accidents happen. There’s no fix-all, no cure for these things, but there are new ways to manage these challenging moments when they strike. In March 2012, the Red Cross announced the creation of a social media crisis monitoring center called the American Red Cross Digital Operations Center.
When Hurricane Sandy hit the Eastern Seaboard, the Red Cross was able to see how valuable social intelligence can be. According to an article in Fast Company, How the Red Cross Used Tweets to Save Lives During Hurricane Sandy, “During the week of Hurricane Sandy, the Red Cross tracked more than 2 million posts and responded to thousands of people. In the end, 88 social media posts directly affected response efforts—a fairly significant shift of resources.”
While people lost power during Hurricane Sandy, many still had internet access on their phones. They could access news updates, connect with loved ones, and ask for help through social media. According to the Pew Research Center’s Project for Excellence in Journalism, more than 20 million tweets were sent about Hurricane Sandy in the span of 6 days.
The intelligent thing to do for your company just might be to explore social media intelligence.
by Fronetics | Sep 17, 2015 | Blog, Internet of Things, Marketing, Social Media
As of January 2015 nearly half (3.01 billion) of the world’s population (7.21 billion) were active internet users. Population growth from the previous year was up 1.6%, active internet users were up 21%, and social media users were up 12%. These are big leaps, and continued growth is predicted. These numbers are a good thing, not only for people like Mark Zuckerberg, but also for business.
Here are 8 reasons why your business needs to harness the power of the internet:
![How to Keep Your Company Data Safe in a BYOD Environment [Infographic]](https://www.fronetics.com/wp-content/uploads/2024/10/BYOD-policy-checklist-800x675.jpg)
by Fronetics | Sep 16, 2015 | Blog, Data Security, Data/Analytics, Marketing, Social Media, Strategy
While the Bring Your Own Device (BYOD) concept has quickly gained traction in the business world, many companies have been slow to address its threat to their data privacy. Even for companies that have recognized the need to prioritize digital security, many have struggled to establish policies that support personal device use while protecting their data. And that’s risky given the high level of connectedness many employees now enjoy – with or without formal guidelines or policies. It leaves businesses open to enormous potential for data leaks.
To avoid the potential leak of data, your company should establish policies on the use of personal and mobile devices such as tablets, smart phones, and laptops that may be used to access your company’s computing and communications systems. Here are six crucial items to consider as you set out to mitigate the risks of your own BYOD culture.
by Fronetics | Sep 15, 2015 | Blog, Data Security, Data/Analytics, Marketing, Social Media, Strategy
Personal connected devices – our laptops, cell phones, and tablets – are arguably the most complicit tools in the recent blurring of the parameters between personal and work life. And while most businesses have generally recognized the benefit of allowing employees to use their personal devices for work purposes, the bring-your-own-device (BYOD) revolution has certainly thrown a curve ball to those responsible for safeguarding company data. Although corporate finance groups are singing the praises of the trend due to its inherent reduction in costs, it’s not all rosy in the BYOD world. That’s why it’s crucial to format a corporate strategy policy that will protect your company from a potentially dangerous data-leak train wreck.
Here’s why: Employees are now widely accessing corporate data from their own computer, a tablet, even their mobile phone. With so many of us bringing more and more smart devices inside our office environments and hooking them to our corporate networks, the potential for data leakage grows exponentially. When anti-virus and digital security software company BitDefender set out to explore the connectedness of typical American workers last year, they found that over half stored work-related data on their personal devices. Shockingly, almost 40 percent of them had nothing in place to prevent unauthorized access to their device. Further, in a study conducted by the University of Glasgow, 63 percent of used smart devices purchased through second-hand stores and eBay-like marketplaces still had data on them. This data included personal information as well as sensitive business information.
The problem is there’s no chain of custody in the BYOD world. Think about it. When the corporations owned your cellphone and your PC or laptop, they controlled its issue to you, how you used it, what software you put on it, and when and how it was turned in and destroyed. A solid internal tracking of electronic assets coupled with a solid electronic asset disposal solution provider meant that, for the most part, the corporate digital assets were safe. In the BYOD world, the corporation does not own the IT equipment. Personal smart devices are being linked to corporate IT environments. This mating of personal and professional equipment and data is happening everywhere. Your corporate data is being commingled with secure and non-secure access points to the Web, cloud, etc. Not to mention the fact that those devices metaphorically walk in and out of your office every day, and you have no control.
Companies are scrambling to address this issue in a number of ways. Some have addressed the problem via software solutions at the enterprise level (think Blancco or BlackBerry enterprise), some at the device level (think solutions like Apple Find My Device, etc.), and some at the human resources and legal levels with policies and procedures that prohibit users’ use of corporate information. But the truth is, without a chain of custody model incorporated with these solutions, once the corporate data is accessed or downloaded, it’s already gone — you just don’t know it yet.
The reality is that it’s going to take some time for the corporate world to catch up with what some have called the “semi-private information revolution” like the cloud, Facebook, or social media. Secure file sharing, essential for an organization’s BYOD guidelines, is one of the best options available. Services are now available to help with cloud encryption and it’s changing the way we share and monitor files. Encrypting data is crucial and minimizes the risk of sharing sensitive data and having it tampered with. Rely on your electronic asset disposal provider to help your company develop a strategy and process that is aligned with your corporate information sharing guidelines. Right now, your corporate data is only as safe as the process that you create.
Fronetics Strategic Advisors is a leading management consulting firm. Our firm works with companies to identify and execute strategies for growth and value creation.
We advise and work with companies on their most critical issues and opportunities: strategy, marketing, organization, talent acquisition, performance management, and M&A support.
by Fronetics | Sep 10, 2015 | Blog, Marketing, Social Media, Strategy, Supply Chain
Are you ready to harness some of the $1 trillion dollars social media can bring the value chain yearly?
There are over 3 billion internet users on Earth, or nearly half the world’s population. The growth of worldwide internet users from 2000- 2015 was 753%. In developing economies the percentages are much higher: Africa’s users grew by 6958.2%, the Middle East’s users grew by 3,358.6% and Latin America/Caribbean’s grew by 1684.4%. There are 1.5 billion social media users worldwide.
Many people use social media for personal purposes, but more and more people and companies are using social media for business purposes. Leveraging social media makes sense: customers, leads, competitors, partners, and employees are using it. Is your company? When browsing Facebook you’ve noticed that the power drill you were researching from Home Depot online is popping up on the edge of the page, or maybe it’s the latest version of a cell phone, or a pair of shoes. It feels like these items are following you. They are. These companies are following you. They’re using social media to entice you, to engage with you, to connect with you.
Facebook saw 1.49 billion active users in the second quarter of 2015. They highlight some of the success stories on their website, pointing to small, local companies and large, international companies. One such large company, Europe’s largest consumer electronics retailer and German behemoth, Media Markt, engaged in a cross-media campaign for nearly a month in 2013 in order to “boost brand resonance and anchor its message firmly in people’s minds.” They used Facebook’s newsfeed to promote and highlight a specific television ad, and they also purchased various kinds of Facebook ads. According to Facebook, “Media Markt reached nearly half of Germany’s online users with their ‘Germany’s craziest flat share’ campaign on Facebook, with the platform being 2.4 times more efficient than all other media used.”
Doing a campaign and buying ads on Facebook are not necessary for you to achieve marketing goals. Here are some ways in which supply chain managers should be using social media:
Communicate
Communication through the senses are what humans crave. Social media allows leaders to communicate using several of the senses to reach a broad community. Companies can use language, images, and sound. Even touch is involved. Click here, scroll over here. Advertise your blog posts, highlight your latest news, announce a new product launch, indicate arrivals and departures of shipments, share small or sweeping changes in service, supplies, practices, locations, etc. Are you concerned that weather may impact deliveries? Update customers to potential delays, interruptions or threats to service.
Social media creates a community. Comments and feedback allow for a certain sense of intimacy. Allowing for a two-way street can help employees, clients, and partners to feel engaged and invested. It might also end up being fun! UPS is a logistics company that has used social media by using both humor and human interest stories to accrue followers and gain loyalty. Its focus on employees heroes who go above and beyond encourages other employees and endears followers.
The best part of social media communication is that it’s live and active, it’s bright and visual. There’s room for humor and gravity, information and emotion, objectivity and subjectivity, facts and anecdotes. Social media reaches both males and females, with 73% of males engaging with social media, and 80% of females.
Educate
Education is one form of communication, and a very important one for your current or potential B2B and B2C clients, your employees, as well as others in your field. Do you have a lecture you want to share from an industry conference? Do you have a new product launch? Have you found a more efficient process that can benefit the industry or attract attention from potential clients? Social media is fantastic platform for education, and establishing your knowledge and credibility.
Monitor
Keeping an eye on your supply chain peers and competitors is a smart. Monitoring is its own form of self-education. What are your competitors’ areas of strength? What appear to be their challenges? Have they missed a pocket of social media that you can fill? Do they seem to be tailoring to a certain customer, or courting a potential business partner? Additionally, researching the reputations and electronic footprints of potential clients, suppliers, prospective employees and business partners could teach you a lot before signing a contract.
The supply chain makes the world go round. In order to be one of the leaders in the chain, it’s important to remember that internet users make up nearly half of the world’s population and that social media is on the rise. Don’t miss that boat.
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