Economic Development Institute Using Technology for Target Marketing & Research November 17, 2010 Facilitated by: Dean F. Whittaker, CEcD
Overview It’s all about people and relationships…not technology.
National: New & Expanded Results(2003-2009)Total Projects = 36,639 (New = 18,526; Expansion = 18,113) Data Source: Conway Data
Midwest: New & Expanded Results(2003-2009)Total Projects = 13,994 (New = 6,765; Expansion = 7,229) Data Source: Conway Data
The Changing Nature of Work Who When Where How
Age Demographic(United States)
Websites: Telling Your Story
MFA vs. MBA?
Winston-Salem/ Dell Computer Story
Dell to close its Winston-Salem plantTHURSDAY, OCTOBER 8, 2009
So What? Now What? 700K sq ft building 1,000 out-of-work $26 million in incentives Political fallout
Source: Taxolog, Inc.
Source: Bing Maps
Source: Bing Maps
Trends in the Biotech Industry Source: Conway Data
Jobs Created by the Biotech Industry Source: Conway Data
Most Active States in the Biotech Industry Source: Conway Data
Who Has the Money? Source: Whittaker Associates, Inc.
States with the Most Biotech Funding Source: Whittaker Associates, Inc.
Biotech Projects (2003-2009) Source: Conway Data & Whittaker Associates, Inc.
Biotech Projects (2009 only) Source: Conway Data & Whittaker Associates, Inc.
Biotech Research Firms Source: Conway Data & Whittaker Associates, Inc.
Sample of Deal in the Market Source: Conway Data
Recent Graduates of the Sid Martin Biotech Incubator Program (University of Florida) Source: Sid Martin Biotech Incubator Program
Why Target Incubator Grads? Create jobs, revitalize neighborhoods, commercialize new technologies In 2005 alone, incubators assisted more than 27,000 start-ups provided FT employment for 100,000+ workers generated annual revenue of $17 billion 84% of incubator grads stay in their communities *Source: National Business Incubation Association
Example of Growth VLST Corporation Biotech firm in Seattle, WA Founded in 2004 Graduated the Accelerator Corp incubator in 2006 Received $55M in series B financing Current Sales: $2.5 million Employment: Grew from 2 to 25 Source: Accelerator Corp and Hoovers
What Are They Saying?
Who Is The Audience?
Telling Their Story
Targeted Marketing – 10 Steps Begin with the end in mind – set goals Determine your strengths and challenges Select target industries by matching goals and strengths with industry/company needs Identify target companies – desirability, compatibility, and feasibility Qualify target companies
Targeted Marketing – 10 Steps (cont’d) 6. Build relationships with target companies 7. Follow through and follow up 8. Keep your commitments 9. Be patient 10. Be persistent
Tools, Tactics & Techniques Using technology to find information about industries, companies, and people
Directory vs. Index Engines Directory Good for broad searches Industry http://search.yahoo.com/dir http://directory.google.com Index Good for specific searches Company name Person Industry segment www.google.com www.ask.com www.bing.com www.yahoo.com
Google Searchwww.google.com Searching within results Historical search Site searches File/document search Finding e-mail addresses Google Alerts www.google.com/alerts
More Helpful Tools Meta searches www.dogpile.com Related searches Google Tools www.bing.com www.google.com/insights/search www.googlelabs.com
What Percentage of the Internet is Indexed by the Search Engines?
Invisible Web Less than 20% of publicly accessible web pages are indexed by popular search engines The remaining 80% is called the “Invisible Web”
Invisible Web: Industry Association Search www.asaecenter.org/directories/associationsearch.cfm Industry Encyclopedia www.referenceforbusiness.com/industries Access My Library www.accessmylibrary.com Market Research Reports www.marketresearch.com
Invisible Web: Company Hoovers www.hoovers.com CeoExpress www.ceoexpress.com Newslink www.newslink.org Maps http://maps.google.com www.bing.com/maps Google Finance www.google.com/finance
Economic Gardening: Targeting Innovative High-Growth Companies Entrepreneur Magazine Hot 100 Inc 5000 Forbes: America’s 200 Best Small Companies Deloitte Technology 500