Social Media for Economic Development

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Social Media for Economic Development

  1. 1. MEDA – Social Media for Economic Development<br />September 16, 2010<br />
  2. 2. Ann Arbor Region Facts<br />
  3. 3. Population - <br />Washtenaw County: 347,376<br />City of Ann Arbor: 114,024<br />Size - 28.2 square miles<br />Average Age - 27.3 years (~25% between 18 and 24)<br />Education - 69.2 percent have four years of college or more<br />Ann Arbor-remains the only city in the world with that name<br />Ann Arbor Region Facts<br />
  4. 4. Mission Statement<br />“SPARK” will be the driving force in establishing the Ann Arbor Region as a desired place for business expansion and location...by identifying and meeting the needs of business at every stage, from those that are established to those working to successfully commercialize innovations.<br />
  5. 5. Guiding Principles<br /><ul><li>High-value, knowledge-intensive, diverse workers
  6. 6. Innovation in products, services, and delivery
  7. 7. Ann Arbor USA (brand entire region)
  8. 8. Proactive versus reactive
  9. 9. “Open Source Economic Development”
  10. 10. Statewide Collaboration/Partnerships</li></li></ul><li>Open Source Economic Development<br />Economic development should take a page from the playbook of the ever-evolving software industry. Its “open source” philosophy -- the source code that drives development should be open and available to all-- is a model that can propel a region’s success in growing, retaining, and attracting business. <br />
  11. 11. Open Source Partners<br /><ul><li>Accelerate Michigan
  12. 12. Ann Arbor Angels
  13. 13. Ann Arbor Area CVB
  14. 14. Ann Arbor Board of Realtors
  15. 15. Ann Arbor Business Review
  16. 16. Ann Arbor/Ypsilanti Chamber
  17. 17. Ann Arbor Community Foundation
  18. 18. Ann Arbor.com
  19. 19. Ann Arbor-Ypsilanti, LDFA
  20. 20. Automation Alley
  21. 21. Business Accelerator Network for Southeast Michigan
  22. 22. Business Leaders for Michigan
  23. 23. County and Local Units of Government
  24. 24. Detroit Regional Economic Partnership
  25. 25. Eastern Michigan University
  26. 26. Enterprise Group of Jackson
  27. 27. Genesee/Flint Regional Partnership
  28. 28. Home Builders Association of Washtenaw County
  29. 29. Macomb Oakland Incubator
  30. 30. MichBio
  31. 31. Michigan Department of Labor and Economic Growth
  32. 32. = Regional/State Partners
  33. 33. = Washtenaw County Partners</li></li></ul><li>Open Source Partners<br /><ul><li>Michigan Economic Development Corporation
  34. 34. Michigan Manufacturing Technology Center
  35. 35. Michigan SmartZones
  36. 36. Michigan Venture Capital Association
  37. 37. Washtenaw County, Michigan Works!/ETCS
  38. 38. New Economy Initiative for SE Michigan
  39. 39. NextEnergy
  40. 40. Small Business & Technology Development Centers
  41. 41. Southwest Michigan First
  42. 42. TechTown
  43. 43. Traverse City Chamber of Commerce
  44. 44. University of Michigan
  45. 45. University Research Corridor
  46. 46. Washtenaw Community College
  47. 47. West Michigan Science & Technology Initiative
  48. 48. Washtenaw County United Way
  49. 49. Wayne County EDGE
  50. 50. Wayne State University
  51. 51. Ypsilanti CVB
  52. 52. = Regional/State Partners
  53. 53. = Washtenaw County Partners</li></li></ul><li>Social Media <br /> Why anyone that needs to communicate should care…<br />http://www.youtube.com/watch?v=lFZ0z5Fm-Ng<br />
  54. 54. This Presentation<br /><ul><li>What we’ll discuss:
  55. 55. Social Media Strategy and tools
  56. 56. How to Measure Social Media
  57. 57. Social Media Integration Examples
  58. 58. What we won’t discuss:
  59. 59. The debate over whether to use social media
  60. 60. How to set up social media tools
  61. 61. Things that I don’t know</li></li></ul><li>Run|Crawl|Walk|Run|Hide<br />
  62. 62. Clear Steps to Success<br />Review your internal processes, philosophies, polices<br /> (Stock the fridge / clean the house)<br />Stop, Watch and Listen<br />Find Key Influencers<br />Testcommunications<br /> (tone, frequency and content)<br />
  63. 63. TAKE NOTE!<br />Social media is a paradigm shift into relationship marketing, NOT an adoption of technology or specific tools.<br />The channels will change but the methods of conversation and communication will remain the same…it’s about the SOCIAL not the MEDIA!<br />
  64. 64. Social Media Integration<br />“The newest computer can merely compound, at speed, the oldest problem in the relations between human beings, and in the end the communicator will be confronted with the old problem of what to say and how to say it.”<br />- Edward R. Murrow<br />
  65. 65. Benefits of PR-Led Approach<br />
  66. 66. Creating your own ROI<br />
  67. 67. What can ROI do for you?<br />Social Media is a RELATIONSHIP building tool to increase brand loyalty<br />Unique OPPORTUNITIES are created by engaging through Social Media channels<br />Social Media provides increased INVOLVEMENT for your internal teams, customers and media<br />
  68. 68. Still not convinced?<br />SPEED:<br />Social Media allows for immediate creation and response to a marketing/communication need and quick alterations to campaigns that are not as well received<br />VALUE:<br />The actual investment in Social Media (a staff member?) is low compared to traditional media<br />TRACKING:<br />Social Media offers immediate tracking of not only eyeballs but demographics. When was the last time you could tell how many people passed your billboard or read your brochure as well as their age, interests and zip code?<br />
  69. 69. New Channels = New Metrics<br />Set monthly goals and track the following metrics<br /># of friends, fans, followers<br /># of referrals from social media channels<br />$ raised<br />Key mentions<br />Leads generated<br />There are many third party FREE & low cost <br /> monitoring and analytic tools<br />
  70. 70. Measure Actions and Attitudes<br />Program/event enrollments<br />Newsletter sign-ups<br />Whitepaper downloads (e.g., SlideShare)<br />Benchmarking<br />Relationship survey <br />(e.g., Zoomerang, Survey Monkey)<br />
  71. 71. Need More?<br />Comment ratio<br />Percent of following engaged<br />E-mail interaction<br />Click-through on posts<br />
  72. 72. How to Measure<br />Analytics<br />Pre- and post-campaign surveys<br />Competitive benchmarking<br />Search engine placement<br />Stakeholder action<br />
  73. 73. The right tool(s) for the job<br />
  74. 74. Easy Peasey: Google Alerts<br />
  75. 75. Google Alert: Ann Arbor SPARK<br />
  76. 76. Easy Peasey: Google Blogsearch<br />
  77. 77. Easy Peasey: Social Mention<br />
  78. 78. Social Mention Search<br />
  79. 79. Nice Presentation but…<br />…does this really work?<br />
  80. 80. A2 Fiber Campaign<br />Google Fiber For Communities Initiative<br />A collaborative initiative among the City of Ann Arbor, U-M and Ann Arbor SPARK to compete for the Beta site selection for Google high-speed fiber<br />Initiative had basic perimeters; RFI and community support<br />Launched Website, Facebook, Twitter, YouTube video contest, billboards, various events including a “flash mob” and sign-ups <br />Social Media footprint within a 7 month timeframe:<br /><ul><li>19,381 fans on Facebook
  81. 81. 1,207 followers on Twitter
  82. 82. #4 ranked city on Fiberforall.org</li></ul>www.A2Fiber.org<br />
  83. 83. A2Fiber.com<br />
  84. 84. Google Fiber for Communities Rankings<br />
  85. 85. accelerate >> MICHIGANSM<br />Accelerate Michigan Innovation Competition<br />An international business plan competition which highlights Michigan as a robust and vibrant venue for innovation and business opportunity<br />Fuels innovation-based business growth by uncovering the best and brightest new business concepts, exposing those opportunities to potential investment capital and fostering their growth within Michigan<br />Targets mid-to-late-stage start-ups with potential to generate an immediate impact on Michigan’s economy, as well as student concepts with longer-term business viability<br />More than $1 million in cash winnings, the Accelerate Michigan Innovation Competition is the world’s largest business competition<br />www.accelerateMI.org<br />
  86. 86. Accelerate Michigan Innovation Competition<br />
  87. 87. Yeah…but does it really work?<br />Ann Arbor SPARK metrics:<br /><ul><li># of friends, fans, followers
  88. 88. 382 fans on Facebook
  89. 89. 1,650 followers on Twitter (Ann Arbor USA, jobs and events)
  90. 90. 89 followers on new company LinkedIn profile (+17 staffers)
  91. 91. # of referrals from social media channels (referring sites = 25% of total website traffic)
  92. 92. Facebook #10 from #36
  93. 93. LinkedIn #5 from #24
  94. 94. Blog #9 from #16
  95. 95. Twitter #16 from #33
  96. 96. ShareThis #13</li></li></ul><li>Yeah…but does it really work?<br />Ann Arbor SPARK metrics:<br /><ul><li>Key mentions
  97. 97. Leads generated – 30% increase (Business Accelerator, Attraction, Pre-Seed and Microloan Fund, Boot Camp)
  98. 98. 2010 YTD – 467
  99. 99. 2009 YTD – 361
  100. 100. Website traffic – 12% increase in page views
  101. 101. 2010 YTD – 100,031 unique visitors (454,907 page views)
  102. 102. 2009 YTD – 116,861 unique visitors (404,013 page views)
  103. 103. Google page ranking of a “6” (prchecker.info)</li></li></ul><li>AnnArborUSA.org<br />
  104. 104. AnnArborUSA blog<br />
  105. 105. SPARK Facebook<br />
  106. 106. @AnnArborUSA Twitter<br />
  107. 107. SPARK LinkedIn<br />
  108. 108. Washtenaw County ROI<br />2006 – 2009<br />135 project successes - $1.072 billion new investment commitments<br />9,172 new jobs commitments and 6,873 jobs retained<br />Assisted 216 innovation start-ups<br />45 Pre-Seed Investments, $9.3 million, jobs 462<br />30 Microloan Investments, $1.2 million, jobs 42<br />78 tenants in 3 regional incubators<br />Leveraged community investments to $32.5 million – through Foundation, Federal and State grants, and MIED equipment donations<br />Assisted 1,001 companies (794 unique) with 2,781 job postings<br />Assisting ~4,200 job seekers with employment searches<br />
  109. 109. Questions: Elizabeth@AnnArborUSA.orgTwitter: AnnArborUSAwww.AnnArborUSA.org<br />

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