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Atlas Arkansas What Would Google Do?
The document discusses the implications of Google's business model on economic development, emphasizing that traditional middlemen are being rendered obsolete. It introduces 'Google Rules' that economic developers should adopt to remain relevant, such as enhancing online visibility ('Google juice'), focusing on specialization, and fostering direct customer engagement. Additionally, it highlights the importance of performance metrics in evaluating the impact of economic development strategies.
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Atlas Arkansas What Would Google Do?
- 1. WHAT WOULD GOOGLEDO? Rethinking Economic Development In the Internet Age August 27, 2013 AED Annual Conference
- 2. About Atlas • Nicheeconomic development marketing and technology firm, providing branding, websites, GIS • Worked with 100+ economic development clients • Pioneered the use of benchmarked outcome metrics in economic development • IEDC’s official High Performance Economic Development Marketing Partner • 20+ people based in Denver, CO in the (haunted) former Governor’s Mansion • Invited by Bryan Barnhouse, Jefferson County
- 3. A Word AboutThe Book and “Google Rules”
- 4. About this presentation •Originally delivered in 2011 at the International Economic Development Council’s (IEDC) Annual Conference in Columbus, OH • In December 2009, I read the book, “What Would Google Do?” • One of its key themes was “Middlemen are doomed.” • I had to ask the hard questions: • “Is my company a middleman? • “Are economic developers middlemen?”
- 5. Why Should WeStudy Google? A share bought for $102 in 2004 is worth $869 today $102 $869 $- $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 August 2004 August 2013
- 6. Over the SamePeriod, What has Been Happening in Economic Development? • Vast growth in the availability of information • Dramatic downturn that froze company and workforce mobility, then a gradual economic recovery • More global competition for business and jobs • With the recession, declines in public sector funding • More scrutiny from private sector investors Has your organization become 8 x more valuable since 2004?
- 7. Introducing Google Rules 1.Everybody Needs Google Juice 2. Middlemen Are Doomed 3. Do What You Do Best and Link to the Rest 4. Be A Platform & Listen 5. Join a Network & Think Distributed 6. Answers are Instantaneous 7. Your Customers Are Your Ad Agency 8. Make Mistakes Well 9. Be Performance Driven
- 8. Google Rule #1 EverybodyNeeds Google Juice “It isn’t what you say about yourself. It’s what Google says about you.” Chris Anderson, Author, The Long Tail
- 9. WHAT’S GOOGLE JUICE? •The magic elixir that makes Google value you more because the world values you more • If your website can’t be found, you might as well not exist
- 10. DO I HAVEGOOGLE JUICE? Log-in to Google and search for: • Your Community Name + “Economic Development” • Your Community Name + “Business,” “Business Expansion,” “Business Relocation,” “Demographics,” “Foreign Direct Investment,” “Incentives,” “Maps,” “Office Space,” “Site Selection,” “Workforce” • Your Organization Name (including variations and misspellings)
- 11. Google Rule #2 MIDDLEMENARE DOOMED “For all middlemen the clock is ticking and the question of value is looming.” Jeff Jarvis, Author, What Would Google Do?
- 12. Do you getvalue for what you pay these people? Are they worth it? (page 74) • Car salesmen • Insurance brokers • Head hunters • Advertising agencies • Travel agents • Real estate agents
- 13. Google Rule #3 DOWHAT YOU DO BEST AND LINK TO THE REST “…the link forces specialization.” Jeff Jarvis, Author, What Would Google Do?
- 14. From general tospecialized • Linking is changing the structure – moving generalization in media to specialization • Specialization creates: – Stronger USP’s – Mass of “niches” – Opportunities for collaboration
- 15. Mapping = GIS UsingCloud data Real Estate = Third Party Examples of ED’s leveraging what others do best
- 16. Google Rule #4 BEA PLATFORM & LISTEN “Stop callin’, stop callin’, I don’t wanna talk anymore.” Lady Gaga “Telephone”
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- 20. Google Rule #5 JOINA NETWORK & THINK DISTRIBUTED “We can’t expect our customers to come to us” Quincy Smith, President CBS Interactive
- 21. Expecting Customers toCome to You
- 22. Be Distributed: Wherethe Customers Are © GIS Planning Inc.
- 23. Result: More CustomersCome to You © GIS Planning Inc.
- 24. How To • Makesure your websites are linked from/to the right partners. • Grow your social network. • Join online industry and economic development networks. • Grow where the networks are largest. • Be where the networks are specialized.
- 25. Build a DigitalAmbassador Program • Identify savvy executives in your community with social media followings • Provide with frequent updates that they can tweet, blog and share to their networks
- 26. Why Digital? • Theaverage economic development organization nationwide gets 10 times the interactions on their website than all of the following forms of communication combined: • Phone calls • Email • Drop in visitors • Trade show conversations
- 27. Google Rule #6 ANSWERSARE INSTANTANEOUS “Fast is better than slow.” - AT&T
- 28. This week inED… • Site Selectors reviewed hundreds of Cities, in less than an hour. They threw out 95%. • They then did deep dives in less than 5 percent of the Cities they considered. • To do those deep dives, they did an average of 20 Google searches • If they didn’t find your website, they went to someone else’s. • If they came to your site and didn’t find what they wanted in 10 seconds, they left.
- 29. “Comprehensive List ofMajor Private Sector Employers with Headcount” ED Organization Website Easy to Find Difficult to Find Not Found Airdrie Economic Development Athens County Economic Development Partnership Iowa City Area Development Kilgore Economic Development Corporation Metro MSP The Indy Partnership Dennis Donovan WDG Consulting
- 30. Google Rule #7 YOURCUSTOMERS ARE YOUR AD AGENCY “In the 20th century, we did monologue marketing. In the 21st century, we’ve moved to dialogue. Customers…will not tolerate not being heard” Source: John Hayes, CMO, American Express
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- 32. Your Customers arevaried – use them to develop and tell the story • Real estate developers/brokers = inventory experts • Local bloggers = local insight and color • Local CEO’s = your sales team • Site Selectors = the translators of your message
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- 34. Google Rule #8 MAKEMISTAKES WELL “Oops. I did it again.” Britney Spears “Oops. I Did It Again”
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- 36. Google Rule #9(Provided by Ben) MAKE YOUR ORGANIZATION COMPLETELY PERFORMANCE DRIVEN “What do you mean I didn’t impact jobs? Look at all the meetings I went to!” - Former economic development CEO
- 37. GOOGLE’S DEFINITION OFBEING PERFORMANCE DRIVEN • They don’t get paid until a user clicks on an ad when interested (95+% of their revenue) • If their tools are not available = $0 revenue • If they don’t serve ads someone wants = $0 revenue • If a product does not hit critical mass = canceled (Google Reader) • If a user has a bad experience = $0 revenue
- 38. A review ofthe Google rules 1. Everybody Needs Google Juice 2. Middlemen Are Doomed 3. Do What You Do Best and Link to the Rest 4. Be A Platform & Listen 5. Join a Network & Think Distributed 6. Answers are Instantaneous 7. Your Customers Are Your Ad Agency 8. Make Mistakes Well 9. Be Performance Driven
- 39. How can youmeasure what impact following Google rules will have on your community?
- 40. A guide tobe a performance driven EDO: High Performance ED • 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.
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- 42. The results, from300 + communities
- 47. Benchmarked Results by PopulationSize POPULATION YEARLY WEB VISITS INQUIRIES PAST 12 MONTHS JOBS LAST 12 MONTHS CAPITAL INVESTMENT LAST 12 MONTHS Less than 25,000 8,418 20 98 $28,333,333 25,001 to 100,000 8,324 46 576 $63,750,000 100,001 to 250,000 22,412 65 1,198 $149,376,418 250,001 to 1,000,000 28,374 208 2,422 $365,923,077 1,000,000 to 2,500,000 45,543 228 2,646 $447,794,260 Over 2,500,000 23,445 170 5,359 $399,630,000 Average for all Sizes 29,181 148 1,768 $244,629,502
- 48. Which one ofthese is not like the other one? ORGANIZATION YEARLY WEB VISITS INQUIRI ES JOBS WON CAPITAL INVESTMENT WON LAST 12 MONTHS JOBS PER INQUIRY ANNUAL OPERATING BUDGET Ohio Community 43,618 169 4,171 $875,700,000 25 Over $2,500,000 Indiana Community 25,572 107 2,329 $424,082,780 22 $500,000 to $999,000 Tennessee Community 338,388 400 14,415 $2,232,616,082 36 Over $2,500,000 Virginia Community 50,236 101 3134 $418,200,000 31 Over $2,500,000 Florida Community 67,440 621 4033 $43,600,000 6 Over $2,500,000 Average for Above Communities 105,051 280 5,616 $798,839,772 24
- 49. Summing It Up– What Google’s Version of High Performing ED is 1. Everybody Needs Google Juice 2. Middlemen Are Doomed 3. Do What You Do Best and Link to the Rest 4. Be A Platform & Listen 5. Join a Network & Think Distributed 6. Answers are Instantaneous 7. Your Customers Are Your Ad Agency 8. Make Mistakes Well 9. Be Performance Driven
- 50. To get thispresentation, drop your card with me, or view it at www.atlas- advertising.comcommunity-marketing- presentations.aspx To Continue the Conversation: • Follow us on Twitter: www.twitter.com/AtlasAd • Tweet questions using hashtag #AskAtlas To join a community of innovative economic development marketers across many continents: • Next Gen Economic Development Marketers LinkedIn Group Thank You!
Editor's Notes
- #14 In the book…the link… IMPACT on news…can link to history instead of repeat itis it necessary for each paper to have its own golf writer? how is the story unique???
- #15 Changes the structure.Generalization SpecializationDetermine your specialty; your USPMass of niches.Opportunities for collaboration.
- #16 MappingWe had the website company we work with do a Google “Mash-up” for us…For Real Estate searches…We utilize one of the many vendors…in this case, “Total Commercial”
- #17 Bad Lady Gaga. Pick up the phone. In the book…A platform enables. Helps others build value.Helps users create their own networks, products, communities, _____.EX: Google maps and the mashup we mentioned.
- #18 Some examples of platforms can be seen here.Digg…aggregation of news stories. OR your Facebook/LinkedIn/Twitter stream…Wikipedia…while still not allowed as an “official” source for scholarly research, pretty accurate.Based on the idea of the collective wisdom of crowds.CAVEAT – sometimes people are just wrong.Orlando Tip: NEVER followed the crowd at theme parks. Most people incorrectly believe they have to wait in line and don’t notice the empty area is actually the other line…Facebook platform is open for applications…Which unfortunately can lead to things like FARMVILLE.
- #19 FlickrOrlando Rocks microsite
- #20 Google alertsTweetdeckHootSuitePR tools
- #32 The power of “SHARE”
- #33 MappingWe had the website company we work with do a Google “Mash-up” for us…For Real Estate searches…We utilize one of the many vendors…in this case, “Total Commercial”