Showing 20 posts in Social Media.
Social media is a great tool for companies to build their brands. Many have moved from nearly invisible to viral superstar status, thanks to a well-timed Tweet, Facebook post or clever YouTube video. But with this power comes risks.
The term "competitive intelligence" is the process of legally gathering information about one's competitors to gain a strategic advantage in the marketplace. Large corporations will have strategic intelligence experts as a part of their marketing department. These experts specialize in discovering promotional activities, sales figures, and other information about the company's competitors. Ideally, strong competitive intelligence enables a company to predict the strategy of a competitor and adapt with a strategy of its own that will result in an advantage in the marketplace.
Chris Holman interviews attorney John Mashni on the Michigan Business Network discussing social media policies. Listen to the podcast here.
Can Social Media Cost You $5 Million?
I know you've probably heard this before, but it's worth repeating: be careful what you post on social media.
It may be used against you. For one NFL player, it cost $5 million.