Social Media Metrics - IEDC web seminar presentation

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Social Media Metrics - IEDC web seminar presentation

  1. 1. 1
  2. 2. About this series October 29: Supercharging Business Retention and Expansion with Social Media November 5: Engaging Talented Workers in a Global Economy November 12: Community Branding Online: A Positive Presence in an Opinionated World November 19: Search Engine Optimization (SEO): Become an Attention Hound November 26: Economic Development Marketing From Good to Great: 8 Economic Development Marketing Tips to Get Your Community Noticed Today 2
  3. 3. Poll: What phrase best describes your skill/comfort level with social media? 3
  4. 4. Today’s Topic: Economic Development Marketing - Metrics that Matter - Changing the Debate about Whether or not Economic Development Makes a Difference 4
  5. 5. Your presenters today Sara Dunnigan Economic Transformation Strategist Chmura Economics Email sara.dunnigan@chmuraecon.com @saradunnigan Ben Wright CEO Atlas Advertising 5 Email benw@atlas-advertising.com @atlasad
  6. 6. Questions we will answer 1.  What would you like to get out of this series? 2.  What is High Performance Economic Development Marketing? 3.  What role should social media play in High Performance Economic Development Marketing? 4.  How can you use social media to start more conversations with companies? 1.  LinkedIn 2.  Twitter 3.  Facebook 5.  What are the five things you can stop doing to make time for social media? 6
  7. 7. What is High Performance Economic Development Marketing? A few principles that drive (or should drive) economic development 7
  8. 8. 8
  9. 9. “Economic development organizations increasingly operate under much tighter budgets at a time when the need for economic development programming is becoming more crucial to the continued vitality and competitiveness of a community.” International Economic Development Council in “High Performing Economic Development Organizations,” 2011 9
  10. 10. What worked 20-50 years ago is not the same as what works today. 10
  11. 11. What hasn’t changed: To make a difference, we have to serve companies directly. If we are not having conversations, we are not making a difference. 11
  12. 12. What has changed: The ways we start conversations have changed forever. 12
  13. 13. A simple framework to help define success: 13
  14. 14. What “High Performance Economic Development” is •  It is the first measurement of the outcomes (Inquiries, jobs, capital investment) that EDO’s create on this scale. •  It proves the ways we make a difference, and in some cases, the ways we don’t. •  It can help drive your strategic and marketing planning using actual outcomes, instead of activities, using national benchmarks as your guide. 14
  15. 15. Who participated 2012 STUDY PARTICIPANTS 15
  16. 16. The Framework 16
  17. 17. The Surprising Economics The DEVELOPMENT ORGANIZATIONS OF ECONOMIC Surprising Economics OF ECONOMIC DEVELOPMENT ORGANIZATIONS 146 146 Average number of conversations per organization Average number of conversations in the last 12 months per organization in the last 12 months 1,293 1,293 Average jobs announced per Average jobs announced per organization, last 12 months organization, last 12 months $ $ 234 234 million million Average capital investment per community in the last 12 months Average capital investment per 17 community in the last 12 months
  18. 18. The Surprising Economics OF ECONOMIC DEVELOPMENT ORGANIZATIONS 146 200+ ZATIONS Average number of conversationsCommunities per organization shared their data in the last 12 months organization hs unced per 12 months vestment per st 12 months 1,293 175 234 15 $ million Website visits per conversation Average jobs announced per organization, last 12 months Value of a conversation, in number of jobs Average capital investment per 18 community in the last 12 months
  19. 19. HIGHEST PERFORMING ECONOMIC DEVELOPMENT Who are the highest ORGANIZATIONS IN 2012 performers? 19
  20. 20. Poll Question: Did your organization set measurable goals for your marketing this year (2013)? 20
  21. 21. Download the report: www.atlas-advertising.com 21
  22. 22. What Role Should Social Media Play in Your High Performance Economic Development Marketing? 22
  23. 23. What Benchmarks Should You Hit? 23
  24. 24. Key Benchmarks: Conversations, Jobs Announced, and Capital Investment. 24
  25. 25. First Metric for Today: Measuring Website Visits. 25
  26. 26. Second Metric for Today: Measuring Conversations. 26
  27. 27. What is the value of a... Connection to a location decision maker in a company in your target industries on LinkedIn? 3 27 jobs
  28. 28. What is the value of a... Connection to a site selector who represents 4 companies a year in your target industries on LinkedIn? 12 28 jobs
  29. 29. How to use Social Media to Drive/Start Conversations with Companies 29
  30. 30. What is Social Media? •  Official DEF: Social media are media for social interaction, using highly accessible and scalable publishing techniques. Social media uses web-based technologies to turn communication into interactive dialogues. www.wikipedia.org •  My DEF: In other words, it’s like networking (talking and listening) using the web and some nifty technology to interact and share messages with stakeholders, partners, existing customers, influencers, and firm-specific attraction targets. 30
  31. 31. What social media isn’t 31 •  Free •  Easy •  Magic
  32. 32. 32
  33. 33. 33
  34. 34. Why Do We Care? •  Your customers are already there –  B2B and B2C ACTIVE and growing users. •  Your community’s story is being told –  You should be participating in (and shaping) the conversation. •  Your competitors are there –  Remember, your existing businesses are someone else’s prospects (or worse, totally ignored). 34
  35. 35. But the Funnel Doesn’t Look Like a Funnel Anymore 35
  36. 36. And Networks Have New Dimensions 36
  37. 37. Social Media Helps People Make Deep Connections 37
  38. 38. Fish where the fish are. 38
  39. 39. It All Starts With Strategy •  Social media should support your overall economic development strategy. –  Inform •  YOU : With vital business intelligence and brand awareness •  STAKEHOLDERS and FANS: What you do and how you do it •  FIRMS & INFLUENCERS: Features, benefits, success stories –  Engage •  YOU: In new meaningful conversations with community •  STAKEHOLDERS and FANS: As brand ambassadors and economic development evangelists. •  BIZ: In valuable, productive and informative conversations. –  Influence •  YOU: In developing policy and refining your strategy. •  STAKEHOLDERS and FANS: Strengthen relationships and extend network. •  BIZ: In their attitudes and opinions about your community and their interest and ability to 39 come, stay and grow.
  40. 40. NOW, How to Get Started •  Use web search and social media to monitor where the conversations are already happening •  Pro Tip – GOOGLE ALERTS •  Determine best tools/platforms to support your strategy •  Find your voice •  Be ready to listen •  Be ready to respond •  Be ready to let go 40
  41. 41. •  LinkedIn •  Twitter •  Facebook 41
  42. 42. •  •  •  •  •  230 million users in 200 countries & GROWING 40% check LinkedIn everyday Average user is 44 years old 30 million Company Pages Find and Connect with –  People –  Companies –  Groups •  •  •  •  Geography Organization/Company Industry/Sector Causes/Occupations “It's not called net-sitting or net-eating. It's called networking. You have to work at it.” - Ivan Misner 42
  43. 43. •  Profile –  –  –  –  Picture, please! AND Contact Information! What do you do? How can you help? How can people help you? Post Updates regularly - Build credibility as SME and share updates on community or other relevant topics •  Network –  Monitor to make sure it’s built to support your goals •  Network Statistics- Place, Industry, more –  Leverage it to get in closer to decision makers •  Use Introductions and Recommendations 43
  44. 44. •  Groups –  Search, join, listen, contribute, & ask questions –  Build awareness of your efforts –  Create Shared Space for Your Team – Board, Investors, Fan Boys, and Fan Girls •  Companies –  Your organization should have a profile on LinkedIn! •  Applications & Content Sharing –  More – SlideShare, Video, Links, More 44
  45. 45. LinkedIn PRO-tips •  Install LinkedIn toolbar for Outlook or Google toolbar to bring your social network into your e-mail system •  Follow Companies (& People) •  Find Econ Indicator Groups – like SHRM chapter or Commercial Construction •  Find Influencer or Connector Groups – like CPAs, Attorneys or Accountants •  Use NEW Advanced Search Features –  And watch LI for beta features •  Get Introduced! Use your network’s connections to build yours (unsolicited requests to connect are L) 45
  46. 46. How To: Use LinkedIn for Business Recruitment 46
  47. 47. First Step: Improve your Profile 47 Focus on: •  What do you do for companies? •  Which companies have you worked with? •  What problems have you solved? •  Why should they contact you? •  What information can you share?
  48. 48. Second Step: Import Your Contacts from Outlook Focus on: •  Getting your most used contacts into LinkedIn •  Converting them to Connections •  Leveraging their connections to become your connections. 48
  49. 49. Third Step: Join Target Industry LinkedIn Groups 49 Focus on: •  Finding groups relevant to your targets •  Finding groups with location decision makers in them •  Participating in the discussion rather than self promotion or hard selling
  50. 50. Fourth Step: Start asking for connections 50 Focus on: •  Connect with people with interests relevant to you •  Offer them something of value (information) to connect with you •  Avoid selling – this is a conversation
  51. 51. Metrics for LinkedIn •  For You –  Network Connections •  In markets •  In industries •  In leadership positions •  For Company Pages –  Followers •  Insights –  Updates and Content Sharing •  Interactions (web traffic - Google Analytics) •  For Conversations with Companies –  Yes, it will work. If you put in the work. 51
  52. 52. •  The Twitterverse –  1 Billion user accounts –  250 million active users •  People are talking (a lot) –  500 MILLION tweets each day •  And it’s not who you think –  –  –  –  Average user is 39 years old Fastest growing among OLDER users They are MOBILE They are INTERNATIONAL Source – Digital Market Ramblings 52
  53. 53. •  Influence and Loyalty –  Share (RT) is the new Search •  Search – Still Important –  600 million searches EACH DAY •  Drives Traffic to Shared Content –  6 X more than Facebook* *Source: SocialTwist – Oct 2010 53
  54. 54. Twitter Decisions for Economic Development •  Person(s) or Organization? –  Both must show a little personality J •  Focus and Purpose? –  Frequency –  Consistency •  MUST Find some good applications to help make sense of the chatter. –  Tweetdeck –  Hootsuite •  Follow and be followed –  Companies/influencers/connectors/ambassadors 54
  55. 55. Getting Started - on Twitter •  Set up a smart profile (person or the organization) –  People should know what you’re about –  You’ve got to earn “the follow” •  Find some friends –  Twitter Search/Recommendations –  Find (create) your #hashtag •  •  •  •  #rva – Richmond, VA #nova – Northern VA #lex – Lexington, KY #dsm – Des Moines, IA –  Social Media Club? 55
  56. 56. Making Twitter Work For you (and your clients) •  Share relevant, valuable content –  In support of your economic development strategy!!!! •  •  •  •  Avoid – shameless self-promotion Embrace – the role of cheerleader (or esteemed SME) for your community Create a niche focus around an industry cluster or program area Tweets work better on weekends – more brand engagement. 56
  57. 57. Metrics for Twitter •  Quality, not quantity of followers (but quantity matters) •  Engagement – RTs, shares and favorites 57
  58. 58. •  1.26 billion active users –  –  –  –  1 in every 13 people ON THE PLANET 3 times the population of the US 70% of users are outside the US 76% access their account EVERYDAY •  High Velocity –  4.75 BILLION pieces of content shared each day –  Avg Users exposed to 1500 pieces of content every time they log on. Source: Digital Marketing Ramblings Source: Website Monitoring 58
  59. 59. •  15 million businesses have Pages •  20 million people become Fans of Pages •  Pages have Power –  –  –  –  –  Promote Events Engage stakeholders Celebrate successes Drive traffic Share Content •  Facebook Ads let you dial in TIGHT! 59
  60. 60. You can’t ignore Facebook “..Facebook is eating the web. Yes, Facebook is becoming the web for millions and millions of people. …there's already a wealth of amazing things you can do within the site without ever leaving. What's more….the site giving rise to headless media companies like Zynga that don't need a web site to succeed. In short, I believe Facebook is unstoppable. They aren't just the next Google. They're the next web.” – Steve Rubel, Edelman Digital. 60
  61. 61. •  Your community or program should have a Page J –  –  –  –  –  But be realistic Facebook is (always) changing how (if) many fans see your posts As Facebook works to monitize its platform, expect to pay for targeted access Power in community networks – link to partner orgs and share their content. Frequent posts get noticed. Switch up the stories, media types, etc. 61
  62. 62. •  Facebook for brands works best for “frequent buyers” –  Stakeholder engagement –  Existing businesses –  Talent attraction •  Metrics for Facebook –  Keep it simple – fans, interactions –  Look for opportunities to connect IRL 62
  63. 63. The Power of an Integrated Social Media Strategy – it’s got to fit together •  Website •  Other Social Media/Networking •  Print •  Your LIP (Live In Person) 63
  64. 64. “Thinking about business objectives instead of ROI makes the whole strategy that much workable and doable. In the end, instead of looking for the ROI in Social Media, maybe the smarter thing to do is to focus on what the business objectives are, and then figure out if Social Media is an effective means (from both a strategic and budgetary point of view) to help you and your business accomplish your goals.” - Mitch Joel 64
  65. 65. Poll Question: After seeing this presentation, do you believe social media can drive results for your organization? 65
  66. 66. How to Create Specific Goals and Benchmarks For Your Organization 66
  67. 67. AND, It’s got to be measurable (aligned to support your goals) •  Network Depth and Focus •  Engagement Metrics (by social media platform) –  –  –  –  –  Unique visitors Total time spent per user Frequency of visits (if driving traffic to web) Depth of visit Conversions •  Content Consumption •  Content Contribution 67
  68. 68. Poll Question: How much extra time in your organization do you have to devote to social media? 68
  69. 69. Five Things You Should Stop Doing to Make Time for Social Media 69
  70. 70. Things to stop doing 1.  Fewer “make an appearance” meetings 2.  The printed newsletter/Fact book 3.  The generalized “buy local” campaign 4.  The “run my recruitment campaign locally” approach 5.  Local projects that don’t meet your stated metrics goals 70
  71. 71. The questions we answered like to get out of this series? 1.  What would you 2.  What is High Performance Economic Development Marketing? 3.  What role should social media play in High Performance Economic Development Marketing? 4.  How can you use social media to start more conversations with companies? 1.  LinkedIn 2.  Twitter 3.  Facebook 5.  What are the five things you can stop doing to make time for social media? 71
  72. 72. Q+A 72
  73. 73. Next Webinar: Supercharging BRE with Social Media October 29, 2013 73
  74. 74. Wrap Up 74
  75. 75. Thank you! Ben Wright CEO, Atlas Adveritins e: benw@AtlasAdvertising.com t: 303.292.3300 x 210 Sara J. Dunnigan, CEcD Economist, Strategist e: sara.dunnigan@chmuraecon.com t: 804-554-5400 ext 106 http://www.linkedin.com/in/sarajdunnigan http://www.facebook.com/sara.dunnigan www.Atlas-Advertising.com http://www.twitter.com/saradunnigan LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace 75

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