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LinkedIn for Economic Development by Jeff Finkle, President/CEO of IEDC
- 1. LinkedIn for Economic Development April 22, 2013 Jeffrey A. Finkle, CEcD President and CEO International Economic Development Council 1
- 2. International Economic Development Council 2 OVERVIEW Is social media a fad, or here to stay? LinkedIn, an essential social media tool for Economic Development Professionals How to optimize LinkedIn Assessment Conclusion Questions
- 3. 3 Social media is a key aspect to business marketing & the client base development platform. 58% of businesses that have used social media marketing for over 3 years reported an increase in sales over that period. Sources: Survey of 1900 LinkedIn Members, May 2012
- 4. percentage of businesses with a marketing department use social media 94% Almost 60% of marketers are devoting the equivalent of a full work day to social media marketing development & maintenance 4 percentage businesses that reported an increase in their market exposure 85% Sources: Survey of 1900 LinkedIn Members, May 2012
- 5. So, why should I use LinkedIn for social media? 5
- 6. International Economic Development Council LinkedIn is the world's largest professional network with 200 million members in 200 countries and territories around the globe. 6 Sources: http://www.linkedin.com/about-us Image Credit: http://www.linkedin.com/
- 8. Sources: Survey of 1900 LinkedIn Members, May 2012 http://blog.linkedin.com/wp-content/uploads/2013/01/200M_Milestone_Final.jpg 2.6 M+ LinkedIn Company Pages 87% trust LinkedIn as a sources of information affecting decision making 49% find LinkedIn to be a good source for word of mouth information on brand experiences 8 Telecomm, 1.5 9M Computer Software, 1.65 M Higher Education, 1.9 5MFinancial Services, 2.03 M Info Tech & Services, 4M LinkedIn by Industry
- 9. Why is LinkedIn a valuable business tool for EDOs? 9
- 10. International Economic Development Council LinkedIn helps EDO’s to improve marketing & attraction efforts • increase community visibility • learn more about client requirements • warm up potential clients & segment audiences • showcase industry expertise • learn from other industry professionals • build long term relationships 10
- 11. International Economic Development Council Improve community visibility: • optimize search engine optimization (SEO) with relevant profile keywords • Your clusters: mining, coal, distribution, energy production, education etc • provide complete & relevant content • use a custom LinkedIn URL for the community • improved ranking on Google & search other results • e.g. http://www.linkedin.com/in/columbusedo 11
- 12. International Economic Development Council Other ways to improve community visibility: • add website links to your profile • e.g. www.columbusedo.com • add a LinkedIn link to your email signature • actively participate in industry discussions 12 John Smith, CEcD Executive Director at Columbus EDO 555 Main Street Columbus, Ohio 43002 555-555-555 John Smith, CEcD Executive Director at Columbus EDO 555 Main Street Columbus, Ohio 43002 555-555-555 http://www.linkedin.com/in/columbusedo
- 13. International Economic Development Council Use LinkedIn to connect with the local economic development network & potential clients • generate leads & discover site selection opportunities •LinkedIn has the highest visitor-to-lead conversion rate • learn about current & local industry trends & issues 13
- 14. 14 So now we know Linkedin is valuable to businesses...now what?
- 15. International Economic Development Council Increase your presence on LinkedIn: • Fill out your profile completely • Expand the size of your network • Make sure to participate in LinkedIn Group(s) 15
- 16. International Economic Development Council Aim for 100% completion on your profile, then: • ensure the entire team has a profile • clear & detailed headlines & summaries • add photos to increase personability • include relevant information • role in facilitating the investment attraction process • sector/regional specialty • past experience in economic development/investment attraction • post a complete company overview, make it “Public” & update frequently 16
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- 18. International Economic Development Council Company Status Updates • post and share company news, promotions, relevant industry articles, and YouTube videos (only Company Page administrators • LinkedIn members see status updates on your company's Home tab • Followers get updates on their homepage • Any LinkedIn member can comment on, like, or updates • Posts can be up to 600 characters (including spaces) • Shared link titles and descriptions can be up to 250 characters each 18
- 19. International Economic Development Council How to Post Company Status Updates • enter your update in the Share an update box on the Overview page • Click Attach a link (optional) and enter the URL • Click Share 19
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- 27. International Economic Development Council Expand the size of your network by methodically & consistently building your connections: • solicit recommendations & write unsolicited recommendations (& endorsements) • always respond to recommendations with a Thank You note • personalize invitations with short notes 27
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- 29. International Economic Development Council How to Find Connections • search your LinkedIn Connections • by keyword or click on Companies • click on the Companies section of LinkedIn • search the Groups Directory by keyword How to invite people to join you on LinkedIn? • member's profiles, search results • add connections, people you may know pages • your email list 29
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- 31. International Economic Development Council Other ways to expand your network • use the Q&A forums • ask for advice & be a resource • request introductions from mutual connections • locate profile of mutual connection • click "get introduced through a connection" • write a message to mutual connection & state why you want an introduction • click send request 31
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- 33. International Economic Development Council Categorizing connections when adding new connections • click on View Profile to go to their page • under their email address select Edit Tags • add a new tag at the top, or click a checkbox for one of your existing tags for existing connections • go to Contacts, then Connections and click on each name in the center column • select the Edit Tag link 33
- 34. International Economic Development Council Join (or host) groups relevant to economic development (especially local groups): Don’t just join...Participate • Introduce yourself • Seek out key players/most active members • Read & comment on member posts • “Like” posts 34
- 35. International Economic Development Council Groups require strategies for engagement & content. Consider: • a community manager with ED expertise & an established network of contacts • the members joining the group & soliciting membership • sparking discussion on timely & politicized issues relevant to your area • use catchy titles, e.g. “A Cat Fight Begins” 35
- 36. International Economic Development Council How to find a group to join 36
- 37. International Economic Development Council Groups For Economic Developers Economic Development 2.0 Site Selection Network Economist Intelligence Unit Economic Development Professionals Business Retention and Expansion Forum The International Economic Development Council (IEDC) 37
- 38. International Economic Development Council 38 Group limits for LinkedIn members own and/or manage 10 parent (main) groups 20 subgroups join and/or moderate 50 groups 50 subgroups maximum followers 5,000
- 39. International Economic Development Council Use InMail if you don’t have an immediate or secondary connection • available to paid members with available InMail credits or for a fee with free accounts HOW TO • Log into your LinkedIn account & search for the person you want to meet. • Click the Send InMail link. • Compose Your Message form • Select or deselect the “Include My Contact Information” • Complete the Category, Subject, and Salutation fields, then enter your message 39
- 41. 41 To Pay Or Not To Pay • Basic (free) account – Find and reconnect with colleagues and classmates – Request and provide recommendations – Create a professional presence on the web – Request up to 5 introductions at a time – Search for and view profiles of other LinkedIn users – Receive unlimited InMails – View 100 results per search – Save up to 3 searches and get weekly alerts on those searches • Premium accounts – Send InMails – get hundreds of additional search results – save and organize profiles – view more information about who's viewed your profile
- 42. Personal Plus Business Business Plus Executive Contact anyone directly with InMail 3 10 25 See more profiles when you search 100 300 500 700 Zero in on profiles with Premium Search Filters 4 Premium Filters 4 Premium Filters 8 Premium Filters See full profiles of anyone in your network YES YES YES YES Who’s Viewed My Profile: Get the full list YES YES YES YES Automate your search with Saved Search Alerts 3/week 5/week 7/week 10/day Get introduced to the companies you’re targeting 10 outstanding 15 outstanding 25 outstanding 35 outstanding See names of your 3rd degree and group connections First Name First Name First Name Full Name Visibility Get the real story on anyone with Reference Search YES YES YES YES Let anyone message you for free with OpenLink YES YES YES YES Get priority customer service YES YES YES YES Benefits by Premium Account Type
- 43. International Economic Development Council Pricing Structure • Basic, free • Business, $24.95/MO • Business Plus, $49.95/MO • Executive, $99.95/MO 43
- 44. After implementing content & engagement strategies, TRACK YOUR PROGRESS. Use LinkedIn’s analytic capabilities, or Google Analytics, to pin-point what’s working & what’s not. 44
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- 46. International Economic Development Council Assessment How well is LinkedIn incorporated into other marketing efforts? How can LinkedIn be used for business development? How can you engage local businesses on LinkedIn & help them promote themselves or collaborate? 46
- 47. International Economic Development Council Other tips or practices to consider: • using LinkedIn advertising to publicize initiatives & campaigns • following companies of interest to get updates (also consider clients or prospective clients) Finally...remember that LinkedIn is a professional networking environment! 47