Social Media For Investment Attraction - Best Practices
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1) The document summarizes a webinar by Intelegia on using social media for investment attraction and economic development. It discusses trends in social media usage and provides case studies of economic development organizations using tools like blogs, Facebook, Twitter, LinkedIn, and YouTube. 2) The webinar covers developing a social media strategy with a clear branding message, defining target audiences, and creating a content strategy. It also provides best practices for setting up profiles and engaging on platforms like Facebook and LinkedIn. 3) Intelegia is a consulting firm that advises on social media strategies and publishes an annual benchmark study of how Canadian cities use social media for marketing their regions.
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Social Media For Investment Attraction - Best Practices
- 1. Webinar - Social Media For Investment Attraction: Seizing The Opportunity May 31, 2011
- 3. Training business professionals to use web search tools, analysis frameworks and social media applications for their marketing and communications activities
- 4. Experts in the fields of social media and strategic intelligence:2 © Intelegia 2011
- 5. About Intelegia Intelegiais a boutique consulting firm which realizes that the paradigm of doing business is evolving. Intelegiapublishes the “Canadian Cities Online Marketing Index©”, an annual benchmark study of how well Canadian cities are using social media to market their regions for investment attraction and business retention. For information, visit www.intelegia.com 3 3 © Intelegia 2011
- 7. Social Media Impact On Business Environment and Economic Development
- 8. Social Media Tools For Economic Development: Global Best Practices
- 9. Facebook and LinkedIn Profiles
- 10. Elements To A Sustainable Social Media Strategy 4 © Intelegia 2011
- 11. Highlights 5 © Intelegia 2011
- 13. 20,600,000 US adults will access a Twitter account monthly in 2011, an increase of 26.3% over 2010 (Source: eMarketer)
- 14. 5 years ago the first tweet was sent on Twitter (Source: Twitter)
- 15. 250,000,000 active users access Facebook via mobile device (Source: Facebook)
- 16. 42% on average is the portion of a Facebook friends list that a person does not actually know (Source: BitDefender)
- 17. $14.7 billion in revenue for US print advertising in 2010, down from $15.5 billion in 2009 (Source: eMarketer)6 © Intelegia 2011
- 18. Smartphones Are The Future 7 © Intelegia 2011
- 19. 2011 : A Positive Turning Point Attitudes and environments are changing. Source: Watson Wyatt, http://blog.socialcast.com/wp-content/uploads/2011/02/112701-SC-THETIETHATBINDS2_v2.png 8 © Intelegia 2011
- 20. New Reality Of The B2B Buyer 9 © Intelegia 2011
- 21. Social Media Impact On Business Environment and Economic Development 10 © Intelegia 2011
- 22. Making A Case For Social Media In An Economic Development Context Monitor the needs of potential investors and local stakeholders Identify the SM presence of investors and local stakeholders To reinforce existing online marketing activities of your agency Search engine optimization improvement (Ex.: Region Chaleur) Become knowable about what is going on in your region and the needs of economic development stakeholders Offer relevant news and articles highlighting the region. To supply news about your organization Inform individuals about your objectives and accomplishments To showcase the different aspects of the region to potential investors via images Replace hardcopy brochures and videotapes with a Flickr photo stream and YouTube clips documenting such things as transportation infrastructure, real estate availabilities, etc.) To efficiently engage with stakeholders via different platforms Limit the exchange of emails. Instead, post on Facebook or Twitter 11 © Intelegia 2011
- 23. Using Social Media For EconomicDevelopment 12 © Intelegia 2011
- 24. Using Social Media For EconomicDevelopment Direct message Branding activities Engagement activities 13 © Intelegia 2011
- 25. EDOs Are Changing Their Approach To Economic Development Classical Approach InnovativeApproach Wait for traditional media coverage for exposure Attend 1 to 3 national and international events in person per year Connect with potential investors via their business network (little black book of contacts) Share insights via Twitter and blogs to raise awareness of their region Organize and participate to conferences or interviews on social media platforms like talkshoe.com on a monthly basis Connect and engage on LinkedIn (6 degrees of separation (100 M potential contacts) 14 © Intelegia 2011
- 27. Level of adoption from within is increasing
- 28. Agencies are learning to deal with negative postings
- 29. Executive buy-in is still essential and growing
- 30. EDOs are routers for business information and activities15 © Intelegia 2011
- 31. Social Media Tools For Economic Development: Best Practices 16 © Intelegia 2011
- 32. Best Practices – Blog – Greater Halifax Partnership 17 © Intelegia 2011
- 33. Best Practices – Facebook –NYC Economic Development 18 © Intelegia 2011
- 34. Best Practices – Twitter – Levelland Economic Development Corporation 19 © Intelegia 2011
- 35. Best Practices – LinkedIn – Invest In Brisbane 20 © Intelegia 2011
- 36. Best Practices – YouTube –Nova Scotia Business Inc. 21 © Intelegia 2011
- 37. Facebook and LinkedIn Profiles 22 © Intelegia 2011
- 39. Contact information : email or telephone or both
- 43. Adjustyourprivacy settings23 23 © Intelegia 2011
- 44. Listen and engage - LinkedIn Groups 24 © Intelegia 2011
- 46. Contact information : email or telephone or both
- 50. Adjustyourprivacy settings25 25 © Intelegia 2011
- 51. Listen and Engage - Facebook Pages 26 26 © Intelegia 2011
- 52. Elements To A Sustainable Social Media Strategy 27 © Intelegia 2011
- 54. Defined target audience and select applications
- 55. Content strategy28 © Intelegia 2011
- 56. Clear and coherent branding message “Branding allows a company to differentiate themselves from the competition and, in the process, to bond with their customers to create loyalty. So a position is created in the marketplace that is much more difficult for the competition to poach.” Kristine Kirby Webster (2002) 29 © Intelegia 2011
- 57. Define Target Audience 1.Who do you want to reach? Current investors, potential investors or both? 2. What do they want to know about you? 3. Where are you going to reach the audience? 4. Why should they engage with you? Big differentiator 30 © Intelegia 2011
- 58. Content Strategy A plan that guides an organization in providing the right content on the right platforms to communicate its brand identity and core message by sharing and engaging with target audience. 31 © Intelegia 2011
- 59. Questions 32 © Intelegia 2011
- 60. Stay In Touch… Isabelle Poirier isabelle@intelegia.com http://ca.linkedin.com/in/isabellepoirier facebook.com/isabelle.poirierintelegia http://twitter.com/#!/intelegia (Consulting and Training) http://www.intelegia.com 33 33 © Intelegia 2011
- 61. About Intelegia Intelegiais a boutique consulting firm which realizes that the paradigm of doing business is evolving. Intelegia publishes the “Canadian Cities Online Marketing Index©”, an annual benchmark study of how well Canadian cities are using social media to market their regions for investment attraction and business retention. For information, visit www.intelegia.com 34 34 © Intelegia 2011
Notas del editor
- Good afternoon everyone from Montreal. I’m pleased to be with you today and I would like to thank our host, SEDA for inviting me to be a part of their series of webinars.
- Whenever I present or conduct a seminarregarding social media, I prefer to startwith a quick overview of somefacts. Thesehighlights help confirmthat social media is not a fad. It is a fact of life that people and organizations are investing in a hugeamount of time and money.Now, to begin, let’s look atsomerecentstatistics….
- Hereis a list of interestingstatisticsthatputsintocontext the adoption of the use of social media by individuals and organizations. From a marketing perspective, itis important to note how a critical mass isbeingbuilt on LinkedIn and Facebook. The fourth point, 250,000,000 active users access Facebook via mobile device should be a red flag for all of us as seen in the next slide.
- As EDOs, providing content thatcanbeaccessed via smartphoneswillbe essential. Whetheritis a retweet or a Facebook share, a portion of the target audience will not wait to log onto a computer, theywillaccess the web via a Iphone or BlackBerry to share and engage on social networks. This trend graph saysthatwe are just about atthat point as we are at the mid-point of 2011.
- Just to reinforce the fact that social media is no longer a fad, here are some numbers on how social media impacts how company employees are engaging with each other.For example: - 58% of individuals believe that social media is changing the way communities or teams are being built. When organizations encourage there employees to became social media ambassadors, they can better achieve there business goals. - 60% of individuals believe that social media is changing the way how people are collaborating or sharing ideas. We were raised in a culture where the message was controlled by individuals who had access to the tools and the autorithy to use them. Nowadays, anyone with a message and a connection to the Internet can share and engage.
- Social media is not exclusive to B2C marketing. Applying social media marketing to B2B segments calls for a different approach which EDOs must keep in mind. The social media aspects must foster a sense of trust. More than ever, EDOs and agencies must become a trust agent. And they can only do it if they build a relationship through a network such as Linkedin by sharing valuable content.
- During the past 4 + years, we have seen how social media has changed the way business is being conducted and how EDOs are adopting the use of social media applications.
- Each point in white font is a concern of all EDOsaround the world. For each point, thereis a corresponding solution that social media applications canbeused by agencies. We all sharesimilarconcernswhenitcomes to understandingourstakeholders’s and potentialinvestorsneeds. The beauty of scisthatwe have now solutions for most of them.Stress on minitoringAndBecomeknowableSo the big question iswhat are the needswewant to address and for most of themwecandevelop a tactictakingadvantage of sm application.
- Just to show the power of using social networks, consider LinkedIn as your rolodex. But with a twist. Linkedin is an ever growing and updated rolodex without leaving your office.As an investment strategist, I have to consider all my options to get my foot in the door at a company such as BHP Biliton. Be searching LinkedIn I can quickly assess potential intermediate who can introduce me to the right person in place at BHP. And thanks to Linkedin, withing a click I can a contact in my network to introduce me.This is a good example of the power of the notion of six degrees of seperation.
- Here are some examples of how EDOs are using Twitter as a way to communicate:1- a direct message2 – the brand of their region 3 – or engage without leaving their offices nor spending their budgets on print or broadcast media.Twitter has become a very easy to use tool to push content and engage with targeted audience
- To summarized what I have said in the previous 3 slides, here is a comparison of the classical approach versus an innovative approach in terms of how EDOs are marketing their regions. The optimal approach would be a hybrid of both.
- In September 2009,Intelegia conducted the 1st Canadian Cities Online Marketing Index, in which we measured how well cities are using social media to promote their region for investment attraction. We repeated the benchmark exercise last year and we compared our findings from 2009. From our interviews with EDOs from the top cities, I would like to share the following insights that we gathered from the interviews.Maybe the one I would really like to stress on is how edo are or are becoming real routers for there region. By connecting with individuals through social tools such as linkedin and twitter, we can improve the flow of information that is often critical to site selectors and potential investors. It’s not that we will necessarly be present when the check is cashed at the bank, its just to see that what we communicate has a impact on the decision making process.
- Sincewebeganour index, we have tracked how differentregions are using social media for economicdevelopment.Althoughthere are differentways to evaluate how EDOs use social media, we have selected the followingexamplesbased on theirapproach of a clear content strategy. I willtouch on the topic of ``content strategy`` later on in thiswebinar.
- The SmartCity blog is an outlet for GHP to share news with their audience without the aid of traditional media. When the blog was launched, the chief blogger was Fred Morley, Executive Vice President and Chief Economist of the Greater Halifax Partnership but now the agency has adopted a multi-blogger approach via content from local stakeholders.What GHP did by adopting this approach is adressing two problems that any organisation will face.One : lake of time to publish on a regular basis andTwo : providing different point of views.
- The NYCED Facebook page is a very good example of an agency that uses its page to post newsworthy content on a regular basis. We cannot stress enough on the fact that your fans will be loyal if you are consistent in delivering content to them.The longevity of your relationship with your audience is like the rock band U2. Over the years they have been able to engage regularly with there fans by sharing new songs in the line with there fan base. Ok YOU DON’T FEEL that you can compare yourself to Bono. It’s OK the point is listen and be consistent!
- As for Twitter, here we have an EDO that uses his own photo for the agency’s Twitter account. Not only is Dave, engaging on Twitter, he has a structured approach to listening by creating lists of the feeds that he follows.. When it comes to promoting his region Dave brings is own personal touch to every message he sends out.
- The agency : Invest In Brisbane takes a different approach when using their LinkedIn group. The agency was able to create their own pool of FDI professionals by not branding the group, “Invest In Brisbane”. As a result, they are able to engage with a very targeted audience whenever they see fit. The professionals in there group are potential connectors to investors.
- This clip on YouTube is powerful because it touches upon the key location factors for investing in Nova Scotia.A second key point that cannot be overlooked is the choice of tags for the clip. For example, “economic development”, “investment attraction”, and “invest in” are used as tags. Now if you were to search on youtube with the keyword “investment attraction” this video clip would be the number 1 “non-sponsored” hit on the first page of results.
- Facebook and LinkedIn Profiles for professionalpurposes calls for an investment in time and a tiny budget. I know thatsome of youmayalready have a personal Facebook profile however ; In a perfect world, itis important to keeppersonal and professionalsidesseperate. Here are some simple tips.
- Here is a checklist of must haves for your LinkedIn ProfileWhen we start with Linkedin most of us overlook the keywords that are posted just below our name. That line of 200 characters is what google will read and reference. Take the time to list the best keywords that describe you experience or expertise. In a nutshell, do you prefer to be known as a generic coordonnator or as an edo specializing in the mining sector? If you need to be convinced just google the keyword “coordinator” and see what comes out. You will be overwhelmed by the results.
- Now that you have your LinkedIn Profile, it is important to be active and make your presence be known. Remember to be successful with social medias, you go through 3 steps : first you listen, second you share and third you engage.Find and join a group to participate in.If you are targeting the renewable energy sector, you may want to find discussion groups related to the industry. Because remember joining an association group will not expose you to potential investors. Based on your choice, LinkedIn will send you an email to update you on the discussions that are taking place in the groups that you have joined.
- Here is a checklist of must haves for your Facebook ProfileIn this case you need to make sure that you invite your business network to connect with you through that channel and redirect your good friends and family to your personal facebook profile.
- On Facebook, listening is easy. Discussions via pages that you like will appear in your news feed.From there whithin a click you can engage by liking the post, commenting or sharing it with your network.
- Building a sustainable social media strategy is similar to building a house. In order for a house to exist for the long term, you need a plan of how the house will be built (i.e. with what materials, where will it be built, who will build it, etc.) With this in mind, there are 3 components for a social media strategy.
- First you need a clear and coherent branding message. Second you need to defind your target audiences and select the right tools Third you will have to consider creating a content strategy
- It’s a jungle out there. You are one among thousand who want to be on the radar of potential investors.What really sets you apart from you competition is your capacity to respond to the needs of potential investors. How do you do that well, you take the time to evaluate and list the reasons why people and organisations have contacted you and done business with you in the past. Every region in canada can claim as a differentiator its great quality of life. However how many of them illustrate what was communicated by their visitors through social media.?
- This second element permits EDOs to identify the right audience to listen and engage via different platforms. The 4 questions you need to ask yourself are :1.Who do you want to reach? Current investors, potential investors, local influencers? 2. What do they want to know about you? Are you growing, do you have the workforce in line with there needs3. Where are you going to reach the audience? Are they using facebook, do they only have a linkedin account.4. Why should they engage with you? Is it because you are active on social networks and you are well connected and for you it’s a question of minutes when it comes to finding the right person who will have the right information to conduct business.
- The third and final element is a content strategy. The content strategy is the driving force behind any successful social media plan. It is fairly easy to identify agencies that have a strategy from those who don’t have one by using one of the following criteria.First Is there a common theme linking each one of the agency’s post on Facebook, YouTube or Twitter?Second: Are there significant gaps in time between postings. There is nothing worst than finding an agency on facebook and realizing that they haven’t posted any new content in weeks.Well that’s it for me now I would like to hand you off to Michelle and Verona.
- Any questions?