You know………• that the success of your economic development organization means attracting new businesses and supporting existing business• attracting new business is going where they are• it‟s no secret these businesses are online – Over 90% of selection begins (or ends) on the web – How do you know these businesses are finding your website?• your boards/committee members/stakeholders want to know that their investments in your online marketing strategies are making connections/getting a solid return
EconomicDevelopment – is acompetitive business.15,000 Economic DevelopmentAgencies in US.8,300 in Europe330 in CanadaEstimated 70,000 on the planet!In 2009: ($1 m+ investment) 2,096 New projects 2,098 Expansions
Time to Re-think Your Marketing Strategy!Old/Outbound Marketing New/Inbound Marketing• TV Radio Ads • Social Media• Print Ads • SEO• Direct Mail • Blogging• Telemarketing • Online Videos An Interruption An Interaction
More than Three Quarters (78%)of the online population are frequent social media users164 million: Total U.S. Adult Population128 million: Total U.S. Social Media UsersINC 500 Survey – 201071% of the fast-growing companies on the Inc. 500 list said they haveFacebook59% use Twitter50% maintain a corporate blogFortune 500 Survey56% use Facebook in 201023% maintain a corporate blog60% used Twitter
Benefits of Social MediaLaw of Attraction (pull marketing)Allows you to establish yourself as an expertOrganically increases SEOOnly investment is your time**some restrictions may apply
Stand out from the Crowd• Think about how you can get through the noise and carve your own niche.
Social Media Why anyone that needs to communicate…either with citizens, stake holders or prospects should care………
Social Media??? WHAT do I say? WHAT is all HOW do I this social track it? media stuff? How to WHO is doing it make it WHY should I participate? right? work for me? WHERE can I WHEN will I find have time to inspiration? manage it? WHO’s listening to me anyway?
5 Ways Cities Are Using Social Media toReverse Economic Downturn1. Strengthening or Rebranding a Region’s Image2. Showcasing Story Ideas for the Media3. Attracting Former Residents Back to an Area4. Linking Job Seekers to Jobs5. Promoting Local and Regional Businesses and Assetshttp://mashable.com/2010/12/16/cities-social-media-recession/
Why Social Media for your organization?You can buy attention (with advertising); You can beg for attention from the media (with PR); You can bug people one at a time to get attention (with direct sales).Or you can earn attention by creating something interesting and valuable and then publishing it online for free: a YouTube video, photo‟s, a Twitter stream, a Facebook page, a presentation on SlideShare.
Time magazine named Mark Zuckerberg Person of the Year!
What do we know about• It‟s not just about young people anymore! – 663 million active users (23.32% US Users) – Almost 40% of Facebook users in the US are over 34 years of age (59 million people)• Facebook is visited more than any other website in the U.S. (even Google)• One-in-six online ads shown to US internet users are displayed by Facebook• 10,000 websites integrate with Facebook every day. (That‟s 3.65 million new websites per year)• The average Facebook user uses the Like button nine times a month• Monthly time spent on Facebook is 8.3 billion hours• 50% of active users login for at least 1 hour per day• 25 billion pieces of content shared monthly
Key features of • Your profile • Your friends • Status updates • Inbox • Advertising • Mobile Access
Challenges facing organizations on1. Best practices dictate that your “organization” maintain a “page” rather than a “profile”2. “Pages” can‟t interact on user profiles, only “profiles” can3. You can‟t have a “page” unless you have a “profile”4. Strong emphasis on paid promotion to gain following5. Have multiple administrators to populate/status updates6. Don‟t set-up and forget it!
Advantages for organizations using• Very easy connections between web pages and your Facebook page• There are many tools available to promote your page without paying for advertising• Fair analytics panel with excellent demographic breakdowns• Content areas to promote different media types
Working with Facebook Networking Reaching out to businesses throughout Virginia and the world. Meeting and connecting with like businesses. Marketing Getting the word out about products & services. Reaching new audiences. Additional means of Communications Decreasing the distance
Some quick facts about• 200 million registered users – 110 messages per day• Over half of active users follow brands/organizations• 60% of Fortune 500 companies use it• 300,000 users/day sign up for new accounts• Largest user group is 35-49 years old comprising 42% of site audience• It‟s search engine processes 60 million queries/day
What I know about• Users are different than on Facebook – Over half of Twitter users update their status daily, one in eight Facebook users update theirs daily – Significantly more engaged with brands they follow• 55 million tweets per day• 58% of users income $60K - $100K+• U.S. has 33.3% of site traffic
Challenges facing organizations on1. Identifying your key followers can be difficult2. “Twitter culture” takes some effort to learn3. There is no clear path to pursue engagement… it takes practice4. Over-emphasis on follow counts as “proof” of authority5. Spam can be annoying
Advantages for organizations on1. Very simple interface2. Lots of independent applications have been developed to improve usability3. Active user community4. Brand loyalty among engaged users5. Easily communicate with stakeholders/community and target market6. Twitter can be very much an ‟of the moment‟ information network/breaking news
Proactive customer serviceSearching for Stuff: PersonalNews. A job. New Promote projects Brandingclients. Garden tips.Recipes. Ideas and updates Drive awareness Discovery: Updating lots of of something of trends,people – all at once interest to a larger sites, A point audience breaking of Spread news an Idea A personal release – contact ideas you just need to get out of your head – an Promote an event on-the-go notebook
About & Benefits1. YouTube is a video network focused on “broadcasting yourself”2. Video on YouTube can be viewed on their site, as well as embedded in websites, blogs and other locations throughout the web3. Video is proven to increase audience engagement… a picture is worth…..4. Nearly all of us have video of some kind, and a 1/3 of us already have video on our websites5. Video has gotten easier to produce… get a FLIP or similar camera6. Users will grow to expect video: In the past month, 25 percent of Americans watched a short video….on their phone
225 million streams/day24 hours of video uploadedevery minute!It would take 412.3years to watch everyYouTube video 2 Billion YouTube videos viewed per day
Why for Economic Development1. Video can take your audience from the city they are in to your community in seconds2. The size of the audience is substantial3. The cost of posting a video on YouTube = $0, and the cost of production is a fraction of what it once was4. Creative and informational subject matter can generate lots of exposure for your community at a very low cost5. Compared to links inside promotional materials, videos can be clicked on up to five times more frequently
Some quick facts about• Membership almost doubled last year• Page views more than doubled last year• Over 50% of users are outside of U.S.• An executive from every company on Fortune 500 represented• Top four industries represented – High tech, finance, manufacturing & medical institutions
Key features of• Your profile• Your contacts• Your connections• Introductions• Status updates• Groups• Applications• Mobile access• Recruitment• Follow companies
Challenges facing organizations on1. Less adoption compared with other channels2. Many options for interaction creates confusion3. Some features require a paid membership4. Less than optimal analytics
Advantages for using1. Tightly focused, engaged audience2. Greater share of members promote content3. Connect with experts - Lots of options for engagement Groups!!!!!4. Much less spam, less privacy concerns5. Opportunities to have work recommended and explore connections
Social Media for business recruitment• Who is the audience, and what are they looking for? – Site selection professionals – Corporate real estate execs – CEO‟s – Media – Growth industry sectors – Other
Social Media tactics for recruitment1. Build a social media network of past deals, site selection and local brokers, and prospects.2. Build industry-specific networks of prospects and past deals according to your industry sector targets.3. Seed those relationships with regular updates to: 1. Linkedin posts (profile and groups) 2. Add recruitment and information presentations to Slide Share 3. Post YouTube video‟s promoting your existing industry, community/quality of life, sites/buildings and events. 4. Be engaged!
Social Media tactics for retention andinvestment relations• Turn that stack of business cards into connections on Linkedin• Add a Twitter feed and consider industry- specific Twitter feeds, as well as organizational updates, that can augment monthly and quarterly email• Focus on posting new, relevant content along with a link to a story or download, i.e. newsletter, promotional material, video• Select organization/county/city representatives to post 2-4 times daily• Be engaging to followers and those you follow. (Remember its relationships!)
Become an online community resource• Share content & information on your social media channels that provide an answer to the questions citizens want to know• Share relevant content. Listen to what your local community is talking about via social media• Provide statistics, demographics, and fun facts via status updates• Share information about new business (large or small), existing industry expansions, and community development• Become the one-stop information resource
Six things you should be doing withSocial Media for recruitment & retention1. Use a variety of tools to recruit Site Selectors and prospects2. Develop a dialogue with your workforce, community and stakeholders using Facebook3. Use Twitter to engage your investors and community stakeholders, and to share information about your community4. Integrate Social Media and sharing into your websites5. Develop a dedicated approach using Linkedin for prospecting6. Share your video content on YouTube
“If you always do what you’vealways done, You will alwaysget what you’ve always got!”
The Social Media Train is Leaving theStation WITH or WITHOUT YOU!
Sandy Ratliff Business Services Manager Virginia Department of Business AssistancePhone: 276-676-3768Email: firstname.lastname@example.orgTwitter: http://twitter.com/sandyratliffFacebook: http://www.facebook.com/sandy.ratliffLinkedIn: http://www.linkedin.com/in/sandyratliffYouTube: http://www.youtube.com/user/vastartup