Transforming TBED through Technology
October 28, 2015
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Who We Are
JumpStart Inc. is a non-profit based in Northeast Ohio. Our mission is to help communities realize their entrepreneurial
potential.
Scott Thompson
Senior Partner,
Partnerships
Hrishue Mahalaha
Senior Partner,Advisory &
Implementation Practice
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• Understand our industry and how we use technology today
• Build a common language on our organizational functions
• Develop a rudimentary capability map for our organizations
• Do a Deeper Dive on 3 specific technologies
By the time you leave: You will have developed a high level functional/technology road map for your organization.
What We Hope to Accomplish Today…
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• Introductions (10 min)
• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework
• Activity (30 min)• Utilizing the TEBD Technology Framework
• Break (10 min)
• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics
• Q&A (10 min)
Agenda
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• Increased scrutiny surrounding public investments calling for greater accountability of economic development activities.
– Focus on tangible outcomes– Focus on reporting and metrics– Scrutiny of data
• Increase diversity of services being delivered by TBED to support entrepreneurship and innovation
• More competition for resources from the private sector.
• Limited funding and number of employees.
TBED Industry Challenges
SSTI. Trends in Tech-based Economic Development: Local, State and Federal Action in 2013
Respondent Profile – Total Responses: 238
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Your Voice - Our IT Resources Are Constrained
2. Limited Organizations with IT Staff
1. Few Employees
18.9% org. 0 - 4 employees 37.9% org. 4 – 16 employees
Does your organization have IT on staff? 101164
No
Yes
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Your Voice - Our IT Resources Are Constrained3. Constrained Budget Dedicated to Technology
The majority of organizations in the survey reported spending less than 5% of their annual operating budget on technology.
Approximately what percent of your budget do you spend on technology?
Your Voice - We Want to Scale4. Ranking of organization priorities for the upcoming year:
1. Scaling Operations: 40.3%2. Measuring Impact: 26.5%3. Strengthening Community: 23.1%4. Operational Efficiency: 11.9%5. Applying Best Practices: 10.1%6. Unsure: 6%
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5. TBED organizations have the lowest confidence in their applications and review management tools and the highest confidence in shared infrastructure tools.
Your Voice – Confidence Overall
The largest area of spending is on shared infrastructure, followed by website then CRM.
Your Voice -- Spending
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Live Attendee Feedback
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TIER III: Client Engagement Tools
General Business Approach
TIER II: Business Operations Tools
TIER I: Foundational Tools1.1
Hardware and Infrastructure
1.2 Communication
Technology (Email)
1.3 Document
Management
2.1 HR Management
2.2 Finance and Accounting
2.3 Reporting and
Analytics
3.1 Digital
Marketing
3.2 Application & Review Mgmt
3.3 Portfolio
Management
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Business Approach - DetailsTIER I: Foundational Tools
1.1 Hardware and Infrastructure
1.2 Communication
Technology (Email)
1.3 Document
Management
OVERVIEW• Collection of physical and virtual resources to support business functions.• Servers, storage, network, internet, phones, etc.
CONSIDERATIONS• Shortage of support, management tools• Redundancy capability.
OVERVIEW• All the tools that
an organization uses to communicate internally and externally in an organization
CONSIDERATIONS• Traditional vs.
cloud based platforms
• Security and redundancy
OVERVIEW• The capability to
manage and maintain soft content in a central location
• Allows for version management and readily sharing of data
CONSIDERATIONS• Establishing
protocols for what content needs to be protected
• Backup procedures
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Business Approach - DetailsTIER II: Business Operations Tools
2.1 HR Management
2.2 Finance and Accounting
2.3 Reporting &
Analytics
OVERVIEW• Payroll and benefits tools, recruitment, project management tools.
CONSIDERATIONS• Analytics, Employee• Tools that match organization workflows vs. feature overkill
OVERVIEW• Tools to record information about financial transactions•Manage P&L and Audit
CONSIDERATIONS• Challenges: fragmented content, data reporting compliance, inconsistent processes
OVERIVEW• Capability to
aggregate disparate data and succinctly tell an integrated story
CONSIDERATIONS• Customizing
reports to multiple funders
• Critical metrics?• Customizations?
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TIER III: Client Engagement
Business Approach - Details
OVERVIEW • The use of digital channels to promote or market products and services to consumers and businesses.• Social media, website, e-mail marketing.
CONSIDERATIONS• How much time do you have to dedicate to marketing?
OVERVIEW• Collecting, reviewing and managing applications for grants, entrepreneurs, students, etc.
CONSIDERATIONS• Identifying the unique elements of the business model• Task management, Form logic and Work flow
OVERIVEW• Used to manage
projects and accounts.
• Tool can help evaluate projects (expected returns, outcomes, timeline or accounts of companies.
CONSIDERATIONS• Often requires
customization.• Developing a
common workflow logic across all platforms to avoid fragmentation.
3.1 Digital
Marketing
3.2 Application & Review Mgmt
3.3 Portfolio
Management
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• Introductions (10 min)
• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework
• Activity (30 min)• Utilizing the TEBD Technology Framework
• Break (10 min)
• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics
• Q&A (10 min)
Agenda
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• (15 Min)For each table there is a dedicated map:• Identify what process you would add to the map• What technologies are you using or would like to add to your
support• How will your client benefit from this enhancement
• (15 Min)Share findings with the group and discuss
Activity (30 minutes)
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• Introductions (10 min)
• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework
• Activity (30 min)• Utilizing the TEBD Technology Framework
• Break (10 min)
• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics
• Q&A (10 min)
Agenda
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• Introductions (10 min)
• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework
• Activity (30 min)• Utilizing the TEBD Technology Framework
• Break (10 min)
• Critical Solution Discussion and Dialogue (45 min)• Customer Relationship Management (CRM)• Marketing Capability• Reporting and Analytics
• Q&A (10 min)
Agenda
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TIER III: Client Engagement Tools
(1) Technology Framework: CRM
TIER II: Business Operations Tools
TIER I: Foundational Tools1.1
Hardware and Infrastructure
1.2 Communication
Technology (Email)
1.3 Document
Management
2.1 HR Management
2.2 Finance and Accounting
2.3 Reporting and
Analytics
3.1 Digital
Marketing
3.2 Application & Review Mgmt
3.3 Portfolio
Management
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Customer Relationship Management (CRM) is a technology capability that can help with the following::1. Customer Tracking2. Engagement Tracking3. Content Management4. Process Automation5. Reporting & Metrics
(1) CRM: What is it?
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(1) CRM: Innovations
1. Connecting Marketing systems to your CRM -Email marketing can tie directly into your platform
2. Customizing fields and processes in the CRM application to eliminate multiple systems-Tracking space, leases, and terms can be quickly configured within most leading systems
3. Establish collaborative methods for working with your ecosystem partners-This affords you the opportunity to expand your value
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CASE Study –CRM
1. The Challenge
• 16 collaborators reported outcomes separately to the state of Ohio.
• The outcomes were duplicative because collaborators reported outcomes for the same clients.
• Services to entrepreneurs were uncoordinated and duplicative, creating competition amongst entities.
2. Technology Enabled Solution
• 16 collaborators log into a single system and use a single record for each client. The network has certain business processes, reports, etc. in common.
• Each partner can also add data unique to their business process.
• All collaborators can see network clients, activities and outcomes.
• Outcomes reported to the state in a single de-duplicated report.3. The Outcomes
• $7 Billion dollars tracked• 200 K hours documented• 100 + network users
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CASE Study - Mentoring App
1. The Challenge
• Better engage mentors and mentees
• Improve resource allocation• Communicate outcomes
2. Technology Enabled Solution
• Opportunity to develop a dynamic conversation over time
• Greater visibility into metrics such as session frequency, user satisfaction
• Transparency regarding outcomes3. The Outcomes
• More satisfied mentors, who previously asked “just tell me what to do”
• Ever increasing mentor and entrepreneur recruitment numbers
• Increased focus on process standardization and normalization
• Less paper production• Increased visibility into outcome
definition and tractionhttps://vimeo.com/134839955
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Live Attendee Feedback
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TIER III: Client Engagement Tools
(2) Technology Framework: Marketing Analytics
TIER II: Business Operations Tools
TIER I: Foundational Tools1.1
Hardware and Infrastructure
1.2 Communication
Technology (Email)
1.3 Document
Management
2.1 HR Management
2.2 Finance and Accounting
2.3 Reporting and
Analytics
3.1 Digital
Marketing
3.2 Application & Review Mgmt
3.3 Portfolio
Management
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Future economic growth is driven in part by female entrepreneurs
(2) Marketing Capabilities: Understanding Who?
Gartner Global research suggests that successful digital marketing strategies share some common characteristics. Successful strategies are:
• Designed to make it easier for the customer to accomplish their goals, whether that's to research a product, make a purchase or get a problem fixed
• Often built within the context of exciting and engaging environments where people can interact with each other
• Not isolated to just social media, but are part of a multichannel customer engagement strategy
Learning from the Global 1000
Source: Gartner, Agenda Overview for Digital Marketing Operations, 2014
(2) Marketing Capabilities: Understanding How?
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(2) Marketing Capabilities: Technologies
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Digital Marketing Platforms
Social MediaAnalytics
E-mail Marketing
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TIER III: Client Engagement Tools
(3) Technology Framework: Analytics
TIER II: Business Operations Tools
TIER I: Foundational Tools1.1
Hardware and Infrastructure
1.2 Communication
Technology (Email)
1.3 Document
Management
2.1 HR Management
2.2 Finance and Accounting
2.3 Reporting and
Analytics
3.1 Digital
Marketing
3.2 Application & Review Mgmt
3.3 Portfolio
Management
• A powerful tool for informing and guiding decision making• A vehicle to report progress to key stakeholders• Increased scrutiny around public investments requires
organizations to invest in tracking metrics and reporting.
An IEDC Report from February 2014 reported that:“Over 50 percent of local (city-level) EDOs do not track performance.
Approximately 20 to 30 percent of county and regional EDOs do not track
performance.”
(3) Reporting and Analytics: What is it?
“Making it Count: Metrics for High-Preforming EDOs” IEDC. February 2014. 37
(3) Reporting and Analytics: The Tools
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LINK
• Introductions (10 min)
• A Foundational Thesis (45 min)• Your voice – Highlights from the survey• TBED Technology Framework
• Activity (30 min)• Utilizing the TEBD Technology Framework
• Break (10 min)
• Critical Solution Discussion and Dialogue (45 min)• CRM• Marketing Capability• Reporting and Analytics
• Q&A (10 min)
Agenda
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