Economic Development Trends and Take-Aways Oct. 2016

From the Thought Leadership Team at USDM

WHAT’S TRENDING… AND OUR TAKE ON IT

Trend: On-The-Go Economic Development
Smart devices have shifted the way prospective executives are evaluating your EDO. Site selection is no longer confined to a stationary computer.

Takeaway:
Economic development marketing needs to account for this shift in device and time of day preference to remain competitive and in the minds of corporate site selectors. Consider the branding and content that is provided across your website, social channels, and blogs… data can tell you what is hitting the mark and what is missing.  And, if your content is not mobile responsive or adaptive, now is the time to solve the problems. USDM can help you identify the areas for quick improvement.

Trend: Actionable Prospect Profile
Economic development marketing is more than targeting desired industries that your community wants. It is about engaging with the industries and prospects. Traditional advertising campaigns that target unqualified prospects are inefficient, costly, and rarely produce qualified projects.

Takeaway:
The industry is moving toward more digital engagement and away from putting most of their budget in traditional advertising. With targeted digital marketing campaigns, you can develop actionable prospect profiles that increase your pipeline and engagement. You can monitor and score these prospects based on their engagement with you which leads to better focus on high-value targets.

Trend: Measurable ROI
Whether your EDO is using traditional marketing methods of print advertising or executing marketing missions, there is a better way to calculate ROI for your efforts.

Takeaway:
Rather than measuring your marketing ROI based on cleansed reports or going off of gut-feelings of success, EDOs using a digital approach to their marketing efforts are seeing unfiltered ROI in real time. A strong digital program includes real-time metrics and dashboards that show the real unfiltered picture of campaign tactics and success for each channel.

 

iconTo learn more about Economic Trends and Takeaways and gain greater insight into USDM and Digital marketing as a new resource for your EDC, connect with us at TEDC’s Annual Conference in San Antonio, October 19-21st. Hope to see you there!

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