Six Surprising Numbers About Economic Development Organization

Posted by Guillermo Mazier on Nov 20, 2013 11:25:13 AM

In the third post in our High Performance Economic Development (HPED) blog series, I’ll talk about the surprising economics of economic development.
White paper

 

Prior to the release of our first white paper (High Performance Economic Development: How Technology and Outcome-Based Metrics Will Save Economic Development Investment and Promotion as We Know It) at the 2012 IEDC National Conference, there was no formal method by which to measure and correlate outcomes of EDO’s.

With the establishment of HPED, EDO’s from around the globe are now able to compare their performance against other organizations that have similar: Population size, Budget size, Staff size.

 

 

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What’s more, from this benchmarked data, Atlas is able to give a snapshot of the average performance of all EDO’s that participated in our survey. You may be surprised by these numbers – take a look:

175 website visits per conversation ---> conversation is worth 15 jobs
whether you win the business or not

The first statistic is startling and shows the significance of your online presence as an EDO. For every conversation you are having, your website generates 175 visits. In other words: your website is the marketing workhorse for your community, your organization and your mission. And a well designed website with GIS tools can convert those visitors into even more conversations.

Secondly, if you’re ever wondering if your countless outreach and networking with site selectors and company decision makers pays off – rest assured it does. Each conversation you engage in generates 15 new jobs for your community – even if you don’t win the business from that conversation.

Bottom line: conversations and the tools that drive conversations – such as a dynamic and well designed website – are what ultimately bring results in the form of jobs and capital investments to communities.

Contact us today to learn more, and discuss with our team of experts how you can generate some startling numbers of your own.

Topics: Online Marketing

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