Archive for June, 2009

Presenting Via Webinar – My June Learning

Monday, June 1st, 2009

By Dean Whittaker

In June, the Whittaker Associates team presented three webinars, seminars that take place online with “attendees” watching on-screen all over the country. We found the experience exhilarating and worthwhile, if a bit surreal. Attendees seemed to enjoy the experience as well, judging by the Q&A; session and the follow-up survey results, and. their savings in time and travel budgets goes without saying. Presenting via webinar poses interesting challenges and rewards, and as we gain experience we continue to find ways to refine the process.

As I’ve mentioned before, hosting a webinar is technologically challenging, mostly because of the interconnection between the traditional telephone system (providing the audio) and the Internet (providing the presenter’s visual-aid computer screen). Voice-over IP, while possible, seems to be less than reliable, with the loss of data packets causing an “intermittent” audio connection. While “Go to Webinar” does offer the ability to send an invitation to register attendees, it does not currently provide a means to collect funds. A third-party website offers this capability, but requires a manual transfer of the registration information between the two systems. It is exciting to get email notification of funds being deposited in your account as people register. However, financially, our fee-based webinar was break-even at best.

Since we offered both fee-based and free webinars, we noticed a significant increase in audience expectations when payment was required. There is much less pressure when the attendees have invested only their time, though they had to spend an equal amount of it in preparation and performance effort whether the webinar was free or not. When a fee is charged, both the attendees and the panelists expected higher-quality content, as perhaps they should. We found that it is very important to create clear expectations about the level of content to maintain a high level of integrity with our attendees.

We found that presenting information through a webinar is unlike giving a presentation before an on-site audience. It is more like a broadcast performance than a presentation, due to the lack on direct connection to our attendees. As in any performance, rehearsal is VERY important. Since we had multiple panelists involved, we needed to do a great deal of coordination, both in terms of the content and the performance. But working with multiple panelists provides a variety of voices and different perspectives on the topic, making the extra effort worthwhile. Getting and keeping the attendees’ attention is challenging with the multiple distractions present in their environments, but the periodic use of polls throughout the performance seemed to help keep the audience engaged. Questions posed by attendees via a text window were useful in creating a dialogue. Although two-way audio is possible, it is seldom used by webinar organizers.

Finally, we learned a funny lesson about human nature, and how important a live audience is to most presentations. We were surprised and a bit crestfallen by the emotional vacuum created by the lack of applause at the end of our performance. The go-to-webinar software sends out a pre-defined survey to gauge the audience’s reaction to the performance, which does offer some feedback. But it feels a little like waiting for the critic’s newspaper reviews of a play after a performance.

The Rain Broker

Monday, June 1st, 2009

By Todd Smithee

The rain maker is a mythical being (usually associated with the legal profession) who excels at generating new business. Several years ago an attorney introduced me to a new term ” the “rain broker.” The rain broker is a person who, due to his or her unique position in life, is able to connect you with many individuals with whom you could do business. Relationships with these individuals are critical to growing your business. Leads are great, but introductions to qualified prospects are golden. If you want to grow your business, you need to do all you can to identify and nurture relationships with rain brokers. There are several key steps to keep in mind when developing these relationships.

  • Identify Industries with Overlapping Customers ” A prerequisite for rain brokers is their exposure to people who could become your clients. You can begin identifying these individuals by looking for companies that market non-competing products to prospects you want to reach. These people will be in a position to refer you to people who could become your clients.
  • Search for Ways to Help Your Rain Broker ” Referral fees are nice, but rarely incentive enough to get you an introduction. Look for ways to help your rain brokers improve their core business. This approach has proven to be extremely successful for Conrin. Conrin’s first major marketing campaign targeted advertising agencies. Conrin did not intend to make these agencies major customers, but groomed them to become rain brokers. Ad agencies were targeted because they generate client leads that do not receive sales follow-up. Essentially, Conrin could provide proof (via its closed-loop qualification process) that sales reps for their ad clients weren’t following up on the promising leads the agencies had generated. This provided protection for the agency against claims of campaigns with poor ROI. The relationships this campaign built, on top of the business it generated, prompted a flood of business early in Conrin’s history.
  • Say Thank You ” Always thank your rain broker. If you have a revenue-sharing agreement, cut a check immediately. If you do not, don’t be cheap. Take a moment and think, “would I have paid a couple of hundred dollars for that lead?” Of course you would have! Open your wallet and send your rain broker a nice gift.

Relationship selling is always easier than a cold call. By taking the time to develop a large group of rain brokers, you can be sure to have a steady stream of highly qualified leads, regardless of what people say about the economy.

Conrin, Inc.
www.conrin.com
Ph: 616-897-4325

ED Case Study – Oklahoma Boomerang Project

Monday, June 1st, 2009

An Economic Development Best Practice

Attracting talent to an area can be an important but elusive part of an economic development strategy. As you watch the trend of talent moving and business following, how can you instead attract some of the talent that your existing businesses seek? How do you find this talent in the first place? How can you use technology to assist in your effort?

One of the best ways to identify and attract this talent is to start in your own back yard. And yes, technology can play a large and crucial role. Just ask the State of Oklahoma Department of Commerce.

The Oklahoma Department of Commerce has a very large tool belt when it comes to its marketing and branding efforts in recent years. After a conversation with some Oklahoma businesses, the Department realized that a good way to reach out to talent would be to market the state to individuals who have left the area but still have ties back to the state. Why start here? Because your chances of recruiting someone who already has a tie to your area are greater than trying to recruit someone who is unfamiliar with it.

From this conversation grew a collaboration between Oklahoma University and local business leaders to launch a marketing campaign for graduates who have left the area. The campaign would include traditional methods like direct mail, but would also focus on social media and a web portal. The portal would serve as a connecting point for the Oklahoma business community and former “Oklahomans.” The website features housing info, career opportunities, testimonials, and other data interesting to potential recruits. The Department is also making great use of LinkedIn, Twitter, and Ning. (For more on social networking sites, see Vidhan’s article below.)

There are two target audiences for this Boomerang marketing campaign. First is Gen-Xers who can fill the knowledge-based jobs in Oklahoma companies. The second is Baby Boomers ready to retire but still willing to come back to Oklahoma to consult or operate start-up companies.

The Department didn’t want a job-search website, but more of a connecting point for employers and potential recruits. To prevent the former from happening, the Department set guidelines employers must follow before posting job opportunities. In doing so, the Department avoids becoming the middleman, and simply lets recruits know jobs are out there. Recruits then work directly with the appropriate employer.

As for locating its target audience, the Department went straight to family-friendly Oklahoma. As press releases were sent out within the State about the project, family members of the recruits rushed to make their loved ones aware of the program in an attempt to get them to move back home. (“Family and friends” is a top reason a person will move back to Oklahoma.)

To measure results, the Department uses a feedback loop from participating businesses. Some businesses have told the Department that their highest quality recruits have been discovered through the Boomerang project. According to the Department’s staff, at least 4 successful job hires have happened through Boomerang, and 450 people subscribe to the newsletter. Those are significant results since the program’s launch just last Fall.

Kudos to the Oklahoma Department for this project. We think it will continue to be a beneficial program, and we encourage other economic development professionals to think about how they can develop a great talent-recruitment strategy.

Check out www.okboomerang.com.

Hoovers: A One-Stop Shop

Monday, June 1st, 2009

By Jami Miedema

Last week, Whittaker Associates gave a webinar presentation on targeting companies for retention, expansion, and attraction. During the webinar, I was able to demonstrate the Hoovers Online system, a company information database that we use for our everyday research. During my time here at Whittaker Associates, I have worked with numerous research sources, both fee-based and free, and Hoovers has always been my preferred go-to source for the information I need.

As a subsidiary of Dun & Bradstreet, Hoovers contains information on more than 30 million companies and organizations worldwide. The user-friendly interface makes it easy to access the most up-to-date information in just a few clicks. Some features of the system include:

Facts/Overview. Each company record contains address and contact information, as well as a link to the company website and an overview of the company, if available.

Family Tree. Extensive family trees show relationships between parent companies, subsidiaries, and branch locations, both national and international.

Industry. Hoovers has acquired First Research, a company that offers industry information. With a subscription to First Research, one can have access to in-depth information regarding the competitive landscape, operations, trends, and challenges of each industry.

Competitors. This feature lists several competitors for a company, and has links to competitors’ company records.

People. Hoovers has employee names and titles from headquarter executives to branch location facility managers. For larger, public companies, age, salary, and a brief biography may also be available.

In addition to the features listed above, Hoovers also has company news, significant developments, and financial figures. Information on smaller, private companies can be just as plentiful, as data is updated as it becomes available after a company’s fiscal year-end.

With its many useful features and up-to-date records, Hoovers has become a one-stop shop for business information.

Why Twitter? A Unique Way to Look at Social Media

Monday, June 1st, 2009

By Vidhan Rana

For those of us who did not grow up connecting with friends or even making new friends online, the world of social networking seems a little odd. We have a hard time comprehending why one would want to share photos of themselves with the world on sites like MySpace or share what they are doing from moment to moment on twitter. But social networking sites like twitter, Facebook & MySpace have become a part of life for many, especially those under 30.

Many say that sites like twitter are a total waste of time. The skepticism about social networking sites is portrayed well in the image above. When you first open a twitter, you may find yourself agreeing with the creator of this image. But after spending some time looking at the tools within twitter and considering its potential business use, you may have a reason to rethink your position.

If twitter was so worthless, why do we hear speculation that Google or Apple may buy the company for over $150 million? Why would we hear it mentioned dozens of times on television news networks like CNN every day? Why were people in Iran using twitter to send messages to the whole world during the recent post-election crisis in the country?

An analogy that I saw on YouTube has helped me understand how social-networking sites fit into our world today. Think of twitter like a party. Why do we go to parties? We go there to meet friends, meet new people and make conversations, or more accurately, to make small talk. That is exactly what twitter is. It is a place where we can meet new people, connect with old friends and make small talk. What do we do when we go to parties? We dress up, try to make interesting conversations and listen to others.

One complaint that I hear from novice users of social networking sites is that they do not know what to do after they open an account. The answer here is simple: Dress up (make sure you complete your profile), style your hair (upload pictures so that others know who you are) and make interesting conversations (regularly update your profile and send out tweets often).