Using Big Data to Tell Your Story
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The document discusses utilizing big data for effective community marketing, detailing how business developers should present demographic, labor, and property information to prospects in real-time. It emphasizes the importance of maintaining a community's own data narrative through strategic self-management and leveraging national networks for visibility. Key recommendations include identifying essential data factors, effective communication methods, and creating a trusted brand for data publishing.
Using Big Data to Tell Your Story
- 1. 1 Smarter Software for Communities November 24, 2015 USING BIG DATA TO TELL YOUR STORY
- 2. 2 Your Speakers Ben Wright CEO Community Systems benw@communitysys.com www.twitter.com/communitysys Danyelle Overbo Account Manager Community Systems danyelleo@communitysys.com www.twitter.com/communitysys Calandra Cruickshank President & CEO StateBook calandra@statebook.com https://twitter.com/statebook Paul A. Jacob Economist & Policy Analyst Halifax Partnership pjacob@halifaxpartnership.com https://twitter.com/hfxpartnership
- 3. 3 In this session you will learn… 1. How a prospect looks for a location online today 2. What property, demographic, and labor data to use to tell your community’s story 3. How to create a strategy for data self management versus API auto- updated data 4. Develop a brand prospects trust for your data publishing efforts 5. How to leverage a national network of information to drive traffic to your website 6. How one community leverages data to tell its own story 7. How to use Big Data to know who is seeing and engaging with your story 8. Questions
- 4. 4 Smarter Software for Communities How would a prospect look for a location today?
- 5. 5 1. A Business Developer is on an introductory phone call with a prospect. 2. The Business Developer asks the prospect what they are looking for in terms of properties/land to build a data center. 3. The Prospect asks: “We will need very specialized technical workforce. Can you show me properties that are data center certified, near a technology school?” 4. The business developer produces that information within 15 seconds. 5. The prospect then asks what they will need to pay for Fiber Optic Central Office Installers. 6. The Business Developer produces a report within 10 seconds that answers that question. Scenario: Initial prospect location search for a data center
- 6. 6 Smarter Software for Communities Decide what demographic and labor data to use to sell your community
- 7. 7 Factors 1-10 Factors 11-20 Highway Accessibility Tax exemptions Occupancy or construction costs State and local tax incentives Available land Expedited or fast track permitting Available buildings Low union profile Availability of skilled labor In-bound/out-bound shipping costs Labor costs Environmental regulations Right to work state Availability of long term financing Proximity to major markets Training programs Energy availability and costs Accessibility to major airport Corporate tax rate Proximity to college/technical training Jones Lang LaSalle’s top 20 factors in evaluating locations:
- 8. 8 Factors 1-10 Factors 11-20 Highway Accessibility Tax exemptions Occupancy or construction costs State and local tax incentives Available land Expedited or fast track permitting Available buildings Low union profile Availability of skilled labor In-bound/out-bound shipping costs Labor costs Environmental regulations Right to work state Availability of long term financing Proximity to major markets Training programs Energy availability and costs Accessibility to major airport Corporate tax rate Proximity to college/technical training Real Estate Costs make up 3 of the top 10 factors
- 9. 9 If a community’s website does not include property data, it will rely on others to tell 1/3 of its story
- 10. 10 Factors 1-10 Factors 11-20 Highway Accessibility Tax exemptions Occupancy or construction costs State and local tax incentives Available land Expedited or fast track permitting Available buildings Low union profile Availability of skilled labor In-bound/out-bound shipping costs Labor costs Environmental regulations Right to work state Availability of long term financing Proximity to major markets Training programs Energy availability and costs Accessibility to major airport Corporate tax rate Proximity to college/technical training Demographic and labor factors make up 7 of the top 20
- 11. 11 If a community’s website does not include demographic & workforce data, it will also rely on others to tell 1/3 of its story
- 12. 12 This data should be delivered in the following channels: 1. On community websites 2. Your RFP responses 3. In decks and collateral for site visits (familiarization tours), national conferences 4. In data relationships with your state and local partners 5. In PR stories and blog posts 6. In your relationships with your local real estate community 7. Social media/social networks 8. In advertising and other promotions
- 13. 13 Smarter Software for Communities Evaluating state, local, and national data sources
- 14. 14 Data geographies, display, sources, update frequency Preferred Geography (Availability) Source(s) Preferred Update Freq. Property Data Property (point) Local MLS, Xceligent, Loop Net, Catylist Daily Demographic Data (Population, Median Age, etc.) Drive time (Census Block Group) Census, ESRI Annually Labor availability by occupation Drive time (Zip, County) EMSI Quarterly Labor cost by occupation Drive time (Zip, County) EMSI Quarterly Union presence City, Region Department of Labor Annually Training programs Training location (point) Various Annually Location of Colleges College location (point) Department of Education Annually Degree programs College location (point) Department of Education Annually
- 15. 15 Data self management, through API or through staff Source(s) Preferred Update Freq. How to update Staff to Update Property Data Property (point) Local MLS, Xceligent, Loop Net, Catylist Daily If not imported from other service Demographic Data (Population, Median Age, etc.) Drive time (Census Block Group) Census, ESRI Annually N/A Labor availability by occupation EMSI Quarterly API, through GIS system N/A Labor cost by occupation EMSI Quarterly API, through GIS System N/A Union presence Department of Labor Annually Through GIS system Yes Training programs Various Annually Tabular data on a web page Yes Location of Colleges Department of Education Annually Through GIS system Yes Degree programs Department of Education Annually Tabular data on a web page Yes
- 16. 16 Smarter Software for Communities Develop a brand for your data publishing efforts
- 17. 17 What is a brand for being a source of information?
- 18. 18 So who is the most trusted source of information on the internet?
- 19. 19 Smarter Software for Communities How to leverage a national network of information to drive traffic to your website Calandra Cruickshank President & CEO StateBook calandra@statebook.com
- 20. 20 Smarter Software for Communities How one community leverages data to tell its own story Paul A. Jacob Economist & Policy Analyst Halifax Partnership pjacob@halifaxpartnership.com
- 21. Big Data: A Practitioner’s Perspective Presented by: Paul A. Jacob Economist & Policy Analyst
- 22. ABOUT THE PARTNERSHIP www.HalifaxPartnership.com We sell and market Halifax. We are the go-to source on the Halifax economy. We connect business to the resources they need to prosper.
- 24. FIRST A QUOTE: www.HalifaxPartnership.com “Data science is what makes the past understandable and the future more predictable.” ~ Bill Syrros, CEO of Lixar IT
- 26. PRACTICAL APPLICATIONS: BRE • You have competitive intelligence: USE IT! www.HalifaxPartnership.com
- 27. A STORY ABOUT DATA • This is rocket science • (An RS-25 Liquid Fuel Injector Rocket) www.HalifaxPartnership.com
- 28. A STORY ABOUT DATA • This shouldn’t be! www.HalifaxPartnership.com
- 29. WHERE DATA COMES FROM Canada • Statistics Canada (CANSIM) • www.statcan.gc.ca • Strategis Trade Data • http://www.ic.gc.ca/eic/site/tdo- dcd.nsf/eng/Home • Canada Mortgage and Housing C. • www.cmhc.ca www.HalifaxPartnership.com United States • US Census Bureau • www.census.gov • International Trade Administration • www.trade.gov • National Association of REALTORs • www.realtor.org Other Commercial Sources e.g. Conference Board, Commercial Property Brokers (CBRE, Cushman), FDI Markets
- 30. EXAMPLE – US CENSUS BUREAU www.HalifaxPartnership.com
- 31. WHO USES THE DATA • Site Selectors • Putting your community on the investment map • Real-Estate Developers • Understanding demographics • Municipalities – City Planners • Accommodating growth/change in your community • Government Agencies – Healthcare, Education, Economic Dev, etc • If they want to put people and resources on the issue, they need the data. • The Community at Large • Show how your community is making progress – Barometer for growth www.HalifaxPartnership.com
- 32. TIPS & TRICKS: PASSIVE AND ACTIVE • Passive Interaction • Data & tools; e.g. websites, collateral, databases, blogs, GIS systems • Active Interaction • Supervised interactions; e.g. phone calls, conversations, meetings • Both are Mandatory! www.HalifaxPartnership.com
- 33. www.HalifaxPartnership.com TIPS & TRICKS: PASSIVE AND ACTIVE • When done poorly: • “You’ve reached the end of the line”
- 34. www.HalifaxPartnership.com TIPS & TRICKS: PASSIVE AND ACTIVE • When done well: • “I have everything I need”
- 35. KEY LESSONS www.HalifaxPartnership.com • Invest in your research/economic capacity • Be the source of information for your community • The data is out there, USE IT! • Provide passive and active opportunities to connect • Data is only useful if it can be communicated: • Be able to communicate it in a clear and concise way
- 36. Thank you for listening!
- 37. 37 Smarter Software for Communities How to use Big Data to know who is hearing, seeing, and engaging with your story
- 38. 38 What is IP Matching on your Website? IP Matching tools are a software plugin to your website that tells you, for 10% to 15% of your users, what company they represent. Uses a database maintained by the Census Bureau to connect company names to IP addresses for the world’s servers
- 39. 39 How does Big Data help you in this case? By telling you who is on your website. Current Website Average Monthly Website Sessions, Last 12 Months 2,000 (for example) Leads Without IP Matching (1% of Sessions) 20 Leads With Lead IQ (10 to 15% of Sessions) 200 to 300 Net Change in Leads with Lead IQ or Lead Forensics 10x to 15x
- 40. 40 929 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