atlas high performance economic development
DESCRIPTION
Atlas CEO Ben Wright presents High Performance Economic Development at the Georgia EDATRANSCRIPT
1
Georgia EDA:Measuring High
Performing EDOs
2
Ben Wright, Atlas
Frequent speaker on marketing and attraction at IEDC and various State ED organizations
CEO of Atlas Advertising
19-year economic development veteran
Built his first ED website in 1995 for the Metro Denver EDC
Graduate of Stanford University
@atlasad
3
Questions We Will Answer1. What does Ben Wright look like? I wish I could
put a face to a voice…
2. How can the profession define high performance?
3. What metrics matter for my organization?
4. What results are good, average, and not so good?
5. How do communities in Georgia compare?
6. What are the next steps?
4
Join the community, continue the dialogue, get the slides• Join the Conversation:
– Follow us on Twitter: www.twitter.com/AtlasAd
– Tweet questions using hashtag #AskAtlas• Join the community of innovative
economic development marketers– Join our Next Gen Economic Development
Marketers LinkedIn Group• Get the slides:
www.atlas-advertising.com/community-marketing-presentations.aspx
5
Why Measure High Performing EDO’s?
6
As a profession, is it clear to all that we make a difference? If not, let’s change that.
7
If we are going to measure ourselves, how do we decide what to measure?
8
Economic development organizational objectives
Deal focusedInfrastructure/ Policy focused
Retention/ Entrepreneurship focused
Mission Jobs and wealth from outside
Awareness, Inquiry
Jobs and wealth from inside
Improve the business environment
Key audience
Site selectors, prospective companies
Site selectors, prospective companies
Local companies and entrepreneurs
Local elected officials, government
Metrics Inquiries, deals closed, deals in pipeline, capital investment
Awareness, inquiries
Meetings/inquiries, issues solved, policy,
Projects built, capital investment, legislation passed
Staffing ½ business developers, ½ marketers
2/3 marketers and information producers
½ business developers, ½ , service providers
½ lobbyists, ½ policy/infrastructure
Core Skills Service, person to person communication, sales.
Content creation, digital communications
Service, consulting
Lobbying, public affairs
Promotion focused
9
How did we decide on what to measure?
Inquiries and
Outcomes
Economic
Job growth Unemployment
Personal IncomeGSP
Tax Revenue
Web visits Inquiries
Jobs from expansionsCapital Investment
Jobs and wages from
relocations
10
How did we decide on what to measure?
Economic metrics Inquiries and Outcomes Metrics
Pro •Widely available data•Easily comparable across communities•Broadly understandable
•Private sector thinking: High performing private sector firms use•Focus on things the EDO actually does and impacts•Metrics that cover the broadest mix of organizational goals
Con •Problems with causality: Good EDOs can be in bad economies and vice versa•Problems with reach: EDOs only influence a fraction of economy•Problems with timing: Deals do not impact economy for years
•Not all organizations track this data today•Self reporting of data can skew results
11
Our decision – focus on inquiries and outcomes, as we influence those directly
Generating
Awareness
Generating
Inquiry
Generating Jobs and Investment
Knowledge of theOrganization
Visits to websitePhone/email inquiriesProspect meetings
Number of jobsCapital investment
12
So what are the results?
13
A sample of participating EDOs
14
Data collection details
1. Three separate emails were sent to the Atlas list, as well as by GEDA
2. Hundreds of organizations clicked on the survey, 70 thus far have completed it
3. Organizations from 25+ states have now participated
4. Our goal: a. 350+ communities from all 50 states by September.
b. Every EDO in Georgia by GEDA’s Annual Conference this fall.
5. To take the survey, click this link:
http://Atlas2012BenchmarkingSurvey.questionpro.com
15
Statistics about participating EDOs78% represent communities that are 250,000 in population or less
16
Statistics about participating EDOs76% have annual operating budgets of under $1,000,000
17
Statistics about participating EDOs68% have a staff size of three or smaller
18
Results from the Overall Sample
19
The average economic development website receives 18,449 unique visits per year, or 1,537 per month.
20
The average economic development organization receives 96 inquiries per year, or 8 per month.
21
The average economic development organization has announced 1497 jobs in the past year.
22
The average economic development organization has announced $179,166,852 in capital investment in the past year.
23
Results Segmented by Market Size
24
Average results by population size, last 12 Months
POPULATION
WEB VISITS INQUIRIES JOBS WON CAPITAL
INVESTMENT
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
18,449
96
1,497 $
179,166,852
25
Average results per capita
POPULATION
IMPACT PER CAPITA LOW
IMPACT PER CAPITA HIGH
Less than 25,000 $1,315
25,001 to 100,000 $925 $3,701
100,001 to 250,000 $ 837 $2,093
250,001 to 1,000,000 $ 478 $ 1,911
1,000,000 to 2,500,000 $ 187 $ 468
Over 2,500,000 $ 134
Average for all Sizes $646 $2,043
26
Results Segmented by Staff Size
27
Average results by staff size, last 12 Months
STAFF SIZE
WEB VISITS INQUIRIES JOBS WON CAPITAL
INVESTMENT
1 2,569 34 928 $ 142,071,429
2 to 3 11,801 42 725 $ 169,932,549
4 to 9 29,279 118 1,897 $ 176,177,341
10 to 19 27,973 406 4,757 $ 475,233,333
20 or more 57,565 383 5,182 $ 251,950,000
Average for all Sizes
18,449
96
1,497 $
179,166,852
28
Average results per staff person
POPULATION
IMPACT PER STAFF PERSON LOW
IMPACT PER STAFF PERSON HIGH
1 $ 181,839,286
2 to 3 $ 66,636,991 $ 99,955,487
4 to 9 $ 30,112,959 $ 67,754,157
10 to 19 $ 37,530,702 $ 71,308,333
20 or more $ 25,553,000
Average for all Sizes $ 68,334,587 $ 79,672,659
29
Results Segmented by Organizational Budget
30
Average results by operating budget, last 12 Months
BUDGET
WEB VISITS INQUIRIES JOBS WON CAPITAL
INVESTMENT
Under $100,000
853
22
72
$2,000,000
$100,000 to $249,000
4,006
30
719
$148,384,615
$250,000 to $499,000
15,543
42
434
$200,784,615
$500,000 to $999,000
23,029
93
1,677
$195,720,566
$1,000,000 to $2,500,000
10,370
43
1,202
$179,874,382
Over $2,500,000
45,184
308
4,126
$299,620,833
Average for all Sizes
18,449 96 1,497 $
179,166,852
31
Average results per $ spent
OPERATING BUDGET
IMPACT PER $ LOW IMPACT PER $ HIGH
Under $100,000 $ 51
$100,000 to $249,000 $ 729 $ 1,816
$250,000 to $499,000 $ 446 $ 890
$500,000 to $999,000 $ 280 $ 559
$1,000,000 to $2,500,000 $ 96 $ 240
Over $2,500,000 $ 202
Average for all Sizes $ 301 $ 876
32
What drives and what are the results of activities per inquiry?
33
The average economic development website receives 194 unique visits per qualified inquiry.
34
If we assume that the entire economic development budget is oriented to drive inquiry, each inquiry costs between $7,000 and $16,000 to generate.
35
Each inquiry, whether it leads to an expansion or relocation, is worth an average of $7.9 million.
36
Drivers and resultsper inqury
Action/Outcome per Inquiry Driver or Result of Inquiry
WEB VISITS PER INQUIRY 194
JOBS PER INQUIRY 25
CAPITAL INVESTMENT PER INQUIRY
6,657,234
$ PER INQUIRY 7,915,750
37
What organizations are high performers?
38
Highest Performers by Market Size, 2011Extra Large Market EDO:
(Over 2,500,000 pop): Large Market EDO
(1,000,000 to 2,500,000 pop):
Large Mid- Market EDO:(250,000 to 1,000,000 pop):
Mid - Market EDO:(100,000 to 250,000 pop):
Small - Market EDO:(25,000 to 100,000 pop):
Micro - Market EDO:(Less than 25,000 pop):
39
How does Georgia compare?
40
Average results for GA respondents, compared to nation
BUDGET
WEB VISITS INQUIRIES JOBS WON CAPITAL
INVESTMENT
Average for GA
14,467
37
366
$
170,142,857
Average for all Sizes
18,449 96 1,497 $
179,166,852
41
What is Next?
42
Benchmark your community today
Join the study by clicking this url:
http://Atlas2012BenchmarkingSurvey.questionpro.com
You will receive a customized report of your results this fall.
43
Join our Webinar May 30:
Regionalism for ED – What Top Performing Regions are Doing to Succeed
• May 30th, 11:00 AM Eastern• Sign up at:
https://www2.gotomeeting.com/register/197201762
44
We’ll see you in Savannah!
Topic:
How to Become a Top Performing EDO: Lessons from the Best
45
Thank You!
Contact information:
2601 Blake Street, Suite 301Denver, CO 80205
Contact: Ben Wrightt: 303.292.3300 x 210
LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace