The Next Challenge for Economic Development - Proactively Responding to Digital Prospects
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Learn why digitally sourced leads are the number one opportunity for your community and review available tools to generate digital leads. Discover how two leading EDOs are generating and responding to digital prospects and learn how to take advantage of these trends for your own community.
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The Next Challenge for Economic Development - Proactively Responding to Digital Prospects
- 1. 1 Smarter Software for Communities November 11, 2015 PROACTIVELY RESPONDING TO DIGITAL PROSPECTS HOW ECONOMIC DEVELOPERS CAN IMPACT THEIR COMMUNITIES BY ADDING NEW SKILLS
- 2. 2 About Your Presenters Ben Wright CEO, Product Visionary Chris Petroff Senior Vice President Jen Wakefield Vice President
- 3. 3 In this session you will learn… 1. Why digitally sourced leads are the number one opportunity for your community 2. Review available tools to generate digital leads 3. How Orlando EDC is generating and responding to digital prospects 4. How Greater Phoenix Economic Council is responding to digital prospects 5. How organizations of varying sizes can take advantage of this trend
- 4. 4 Smarter Software for Communities Why digitally sourced leads are the number one opportunity for your community
- 5. 5 Why digitally sourced leads are the number one opportunity for your community 1. The average EDO generates 123 website visits for each identified company or prospect. 1. Said another way, the average economic development website converts less than 1% of its visitors. 1. According to HubSpot, outside the ED profession, digital marketing strategies deliver 54% more leads than traditional methods such as events, trade shows, and cold calling. Sources: HubSpot, Atlas Advertising
- 6. 6 Only 1/3 of EDOs believe that they are effectively leveraging digital to impact their economy Sources: HubSpot, Atlas Advertising
- 7. 7 Using the latest technologies, for an investment that is less than 5% of the average marketing budget, EDOs can increase web leads by 1,000% Current Conversion Ratio: <1 % 123 Website Visitors 1 Identified Company Conversion Ratio with LeadIQ: >10% >10 Identified Companies 123 Website Visitors
- 8. 8 Smarter Software for Communities Review available tools to generate digital leads
- 9. 9 Tools to drive digital leads to your website
- 10. 10 Using Google AdWords to Drive Traffic 1. Shows you real time campaign performance 2. Helps you optimize for each keyword 3. Lets you manage your budget 4. Helps you master the source of 30% to 50% of your website’s traffic
- 11. 11 Conversion to LinkedIn 1. Very easy interface to scan who has viewed your profile 2. Very clear action steps for follow up (connect, message)
- 12. 12 Using social publishing tools to drive traffic (HubSpot) 1. Helps you track interactions with email, social, and other digital communications 2. Helps you track interactions by persona 3. Helps you master all digital sources of traffic
- 13. 13 Using social publishing tools to drive and track traffic (Hootsuite) 1. Helps you track interactions with multiple social accounts 2. Allows you to search other posts to re- publish 3. Analytics for total interactions, clicks by region, referrers, and more 4. Helps you master your social publishing
- 14. 14 Using Google Analytics to track website traffic by geography 1. Within economic development, traffic from outside a community is often viewed as more valuable than traffic inside 2. Using Google Analytics, you can track traffic from anywhere in the world to your website 3. This visual tool is great for presenting to stakeholders and boards
- 15. 15 Using GIS analytics to track your most engaged users 1. Designed to track interactions that Google Analytics can’t. 2. Includes total property searches, most popular properties, total business searches, business searches by industry, reports generated, and reports by type. 3. Shows you the overall engagement with your GIS system. One key ratio: property searches to website sessions should be 38:100. 4. Sets the stage for more advanced conversion from GIS user to prospect.
- 16. 16 Using Unique IP Matching Tools such as Community Systems LeadIQ to convert visitors into leads By using a blend of advanced conversion approaches and technology that appends Hoover’s data, the industry’s richest, to previously anonymous web visitor records. Community Systems LeadIQ can be integrated into your existing website and property search, or built as a part of your CS Website
- 17. 17 Data that can be provided • Company name • Location (latitude, longitude, plus address) • Industry • Number of employees • Phone number • When they visited (date) • Company phone number • Pages viewed • Properties viewed • + 30 other fields
- 18. 18 Estimated results from your website with LeadIQ and Digital Marketing Current Website Your Website with Digital Marketing Total Monthly Website Sessions, Last 12 Months 1,000 1,300 Leads Without LeadIQ (1% of Sessions) 10 13 Leads With LeadIQ (10 to 15% of Sessions) 100-150 130 to 195 Net Change in Leads with LeadIQ or Lead Forensics 10 to 15x 13 to 19x
- 19. 19 If your EDO is not using these approaches, how long before your performance suffers because of it?
- 20. 20 And, how long before your board starts asking you “why you aren’t?”
- 21. 21 And, for the topic of this session, what should you do when you have attracted a digital prospect? How do you engage them?
- 22. 22 Smarter Software for Communities How Orlando EDC is Responding to Digital Prospects Jennifer Wakefield Vice President Orlando EDC
- 23. 23 Tools
- 26. Buyer’s Journey
- 28. Average Open Rate = 22% Average Click-Through Rate = 3%
- 29. A/B Testing
- 32. What’s Worked Spending time to pour through metrics regularly Tying news to inbound techniques Setting up website to optimize leads Advertising on LinkedIn
- 33. Tips Invest in tools needed Obsess over metrics Spend time to create a solid digital marketing plan
- 34. 34 Smarter Software for Communities How Greater Phoenix Economic Council is Responding to Digital Prospects Chris Petroff Senior Vice President Greater Phoenix Economic Council
- 35. 35 Traditional paid advertising to drive traffic for specific messaging Paid Advertising Highly targeted content for each tactic/strategy Content Geo-targeted marketing with specific messaging pre-trip/conference. “Air Support” Specific call to action to targeted landing pages. PPC Activation of leads/prospects via social media. Seeing higher conversion. Social Content rich whitepapers for targeted industries and market comparisons. Whitepapers Retargeting of ads from traffic Retargeting Leverage videos/testimonials to promote within key geo’s. Testimonials Digital Marketing Tactics Some of the Fun Stuff our team does
- 36. 36 Activation Direct Outreach Within 24 hours of Activation our team reaches out to key decision makers in company. Call to Action Outreach contains simple call to action. In tech sectors has seen 32% conversion. Collaboration with Mktg. Monitor Engagement “Air Support” Monitor page views, downloads, and search. Constantly working with Mktg. team to discuss trends, topics, companies, etc. Monitor site activity from targeted companies, industries, and geo’s. Highly targeted content to support travel. How Business Development Leverages Digital Marketing
- 37. 37 1 Establish a hypothetical why, but look for reason why company would be spending significant time on key pages. (Funding, Planned Expansion, Consolidation, etc.) Look at Trends and Historical Activity 2 Establish contact with key company decision makers in 24 hours. Our messaging is very simple, builds immediate credibility, and has a clear call to action. Current conversion in the tech community is near 32%. More on this Later. Establish contact in 24 hours 3 Let marketing team know that contact has been made. They can track further activity from IP and drive content to key employees. Communicate 4 Based on response – either follow up – or build targeted messaging for key decision makers in organization. Messaging How does Business Development work the Data?
- 38. 38 • High Growth Technology Companies • We have experience the greatest conversion with companies who are in high growth tech markets. Typically targeting c-Suite executives. • Small to Mid sized manufacturers • They second highest conversion has come from companies who are small/mid-sized manufacturers that typically have 1 or 2 locations nationally and are considering expansion due to very specific reasons. • Logistics • Third highest conversion has come from companies in Logistics and Distribution. Where we have experienced success
- 39. 39 • Hot Start – then Fizzle Out • Work through the times with little activity. Can be an “easy out.” • Very Large Companies • Difficulty tracking down key personnel to target. • 24-Hour outreach (make sure it doesn't turn into 48+) • Two Site visits have been set-up from reaching out within 24 hours. Areas to Watch for
- 40. 40 Smarter Software for Communities How Organizations of Varying Sizes Can Take Advantage of this Trend
- 41. 41 Smarter Software for Communities Recommendations for a 1-3 person EDO
- 42. 42 Recommended tactics to drive 15x to 19x the digital leads for a 1-3 person EDO 1. LinkedIn professional account ($800 per year) 2. LeadIQ for IP matching ($4,000 per year) 3. Google Analytics for website traffic (free) 4. InSite analytics for GIS usage (as low as $1,000 per year, built into GIS ) 5. Hootsuite for social publishing (free) 6. Google doc/spreadsheet for metrics tracking and reporting (free) 7. Simple spreadsheet to track prospects (free) Annual Cost: $5,800 per year
- 43. 43 Next Digital EDU session How Rural Communities Can Leverage a Quality Economic Development Website Thursday December 17, 2015 11:30am – 1:00pm MST To register: TBD
- 44. 44 929 Broadway Denver, CO 80203 Contact: Ben Wright t: 720.420.3800 x 210 benw@communitysys.com www.Communitysys.com Thank you and stay in touch! Smarter Software for Communities
Editor's Notes
- Can’t recommend the tools Ben mentions highly enough. We use Hubspot, google analytics and more each and every day.
- We’ve created in depth profiles on our target audiences. And we’ve segmented them into primary and secondary. Our primary targets are probably very similar to yours – c-suite exec not located here yet, site consultant, and business exec currently located here.
- In addition, we have secondary targets – investors, media and evangelists that we target information toward. However, for the purposes of this webinar, we are only focusing on our primary targets.
- Once we’ve established exactly who we are targeting, we need to determine what we are offering them during what stage of their decision – awareness, consideration or decision. Then, we created content for each stage of each journey for each of our target audiences. Today, I’m going to give you a short glimpse of some of our tactics and tell you what has worked for us.
- If we have prospective clients in our CRM that we want to offer a content piece to, we would send them an email like this. It’s very simple and to the point. It provides a brief testimonial about someone in their industry finding success in Orlando and then has a very clear Call to Action button they can click on to download more information. This has proven very effective for us. Once we send the campaign, we immediately begin to analyze the results.
- We check for open and click through rates to ensure they are performing at – or better than – industry averages. We then go further and really dig into the metrics of who is opening what and why. We then go into Hubspot (our inbound marketing platform) and mark them so that we can receive notifications on when they are visiting our website and exactly what they are looking at. That way, we can keep our business development team apprised of our prospective leads and current clients are up to.
- We can also tweak our emails and use something called A/B testing to see which version performs better. We’ve especially done this when attending or sponsoring a conference or tradeshow.
- When we place digital advertising, it’s usually a digital banner ad linking to a landing page with a content offer on it. In this case, this is a recent text ad in Chief Executive’s monthly newsletter trying to get CEO Charley to click the link to learn more.
- If he or she does click the link, they wind up here on our landing page. Since we haven’t sent an email, we don’t currently have their information so we’re trying to get it by offering a content download and a form. You’ll notice we limited the number of fields here to make it easier…but we still want their name, title, company and email. Once they enter, they receive the downloaded file….and we can begin to digitally keep an eye on them and their actions with our website. We then check our CRM to see if they are an existing or perspective client. If they’ve just downloaded something, we don’t immediately push them to our sales team for follow up. What we do is add them to a workflow…we’ll follow up in a specific amount of time asking them to rate the download or offer something similar. We can then also have it send them something asking to take a call and then we turn it over to business development.
- Didn’t really work for us: Advertising on FB, Twitter for prospects