As of January 8th, 2010, results for the keyword search, “economic development” on Facebook yielded 396 hits for fan pages. These pages are not only built for promotional purposes but to share information with the city’s or region’s stakeholders. As a result, the pages become as a public source of information in which competitive intelligence data can be gathered for economic development purposes.
Search Results For “Economic Development” On Facebook For Fan Pages
With the use of Google, some think that there is no need to monitor content on social networks such as Facebook, Twitter and Flickr. An argument can be made that tracking information via these platforms may contribute to a region’s economic development strategy by providing strategic intelligence.
How you may ask? Consider the following:
- Facebook Fan Pages serve as a compliment to websites and hence provides information on a frequent basis. The pages are easier to update than websites and enables agencies to maintain the resource within a matter clicks.
- Twitter pages can be used as a tool to push relevant information to interested individuals. Information such as local or regional news, analysis reports or details on financial assistance programs can be available.
The motivation to “Become a Fan” or “Follow” is simple to understand from competitive intelligence point of view. Individuals with accounts for both social networks can have a steady stream of information on regions and/or cities that are competing for investment dollars from around the globe.
Strategic intelligence for economic development purposes that can be gleaned on Web 2.0 can be in the form of:
- Success stories in the region
- List of key sectors / companies in the region / cities
- Successful incentive programs
- Regions’ value propositions
To learn more about monitoring social networks for economic development, attend Intelegia’s seminar, “Optimize Investment Attraction Strategy Through Information and Social Media Applications“.
Great story! Being a marketing specialist for our local economic development organization, and utilizing social media to supplement marketing efforts, it is sometimes a challenge to communicate the benefits of social media to our industry. It is very interesting that there were 396 searches for economic development! It proves that there is a demand, and that I am on the right track. Thanks for sharing this story
Nice article. As a firm who assists economic development organizations with social media strategies, I would add to the list of Strategic intelligence items-
1. Capabilities of the economic development organization itself
2. News/events specific to the intended audience
Thanks,
Mark J. James, CEcD
mark.james@solutionsED.com
@Lindsey,
It is always difficult to the “buy-in” for something relatively new such as using social networks for economic development. The practical thing to do is to present real life cases from around the world. It is our goal to showcase the best practices of economic development 2.0 strategies on this blogé
@Mark,
Thank you for your feedback and recommendations.
Ian