Global fdi online marketing


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" FDI online marketing" highlights the challenges facing economic development agencies in the online promotion of their business locations for FDI attraction.

The presentation suggests a set of possible solutions.

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Global fdi online marketing

  1. 1. December 3, 2010 1
  2. 2. What are we going to cover Title: Effective online promotion strategies. Subtitle: Agency website comparison best practices. and03 December 2010 2
  3. 3. Thesis An effective online FDI strategy increases opportunity and reduces foreign investment transaction cost for the investor and the investment promotion agency. DealMaker S pecific M easurable A chievable R ealistic T imely03 December 2010 3
  4. 4. Approach What is our goal for this training? What are the key common challenges of online FDI business? Problem thesis Lets look at some examples of the challenges (discretely) Possible responses how we can address the challenges Example of solution approaches (enthusiastically) Recommendation and hand-out of best practice guidelineDecember 3, 2010 4
  5. 5. Training goals For your training: Share a set of low-cost high-impact best practices for areas of online innovation For your clients: Provide the essential information to all relevant prospective investors to have a decisive influence on the clients’ foreign investment decision making.December 3, 2010 5
  6. 6. Why it matters Well, since you’re here so it appears to matter to you. There is also a business case for a holistic online strategy: • Clients’ “online” expectation • Changing global FDI patterns • Increasing complexity and competition • Get more and better FDI deals • Help clients decide for your location • Increase speed of deal making • Reduce the transaction cost03 December 2010 6
  7. 7. Effective online strategy The approachDecember 3, 2010 l 7
  8. 8. The 15 key challenges of online FDI business 1. Research shows that 70% of IPA’s fail to respond effectively to <online> inquiries; 2. Inquiry response process is not standardized and lacks quality assurance; 3. Not engaging the client how he expects it and with what he needs; 4. The technical difficulty of reaching your target clients online; 5. Content is not aligned with the client problem and his decision making process; 6. Partial or fragmented coverage of the clients’ investment process (life cycle); 7. Focus is more “about us” and the IPA processes than on the client needs; 8. Investor relationship management is overlooked; 9. Communication is impersonal and not localized; 10. Strategic economic development focus not clearly defined or implemented; 11. Content is not aligned with economic strategy and related priorities; 12. Insufficient understanding of the IPA’s competitive environment; 13. Business eco-system of focus areas not sufficiently covered with information; 14. Claims are not or insufficiently objectified and fear of comparison; 15. Constant increase of complexity and competition.03 December 2010 8
  9. 9. Our point of view 1. An unstructured inquiry response process that lacks standardisation is the single biggest obstacle for any effective online FDI business strategy. No time, not enough resources, not enough budget and not the right capabilities are all symptoms of strategic misalignment. 2. An effective online strategy spans the entire investment process and thus your entire business process. If we hold this true than “online” is not a marketing task but a business priority. 3. Outsourcing and out-tasking is one effective response for an IPA to get access to private sector experience, innovation and speed. Because in-house capabilities are equally important as problematic concerning “online”. 4. Complexity will increase further and faster! Next in line are China promotion and global pro-active investor acquisition; Corporate investors planning to move to bidding and auctioning of their FDI projects; diminishing investor loyalty and most important global talent supply and demographics.03 December 2010 9
  10. 10. Examples of some of the challenges 1. Deal = content X reach X perception X emotion 2. The consultants (gatekeepers) - They do not deal nor think in emotions or perceptions 3. About us; our services; how we work; 4. Nr. 4 is so NOT good that I gave it its own dedicated slide03 December 2010 10
  11. 11. If you cannot manage email than you might as well raise as much hurdles as possible:03 December 2010 11
  12. 12. Examples of the challenges 4. No focus on key business eco systems and related opportunities 5. Not easy to do business • Global Investment Promotion Benchmark? • IFC Investment Promotion Essentials study? Our experience adds this: • 70% of email never gets answered – trend negative • 70+% of online forms are never responded to - trend negative • 70% of telephones not answered or no action – trend negative But • 70+% of LinkedIn mail gets answered – trend positive • Why? Because we consider it PERSONAL • Your biggest opportunity is your Creative & Entrepreneurial community03 December 2010 12
  13. 13. Solution best practices The Basics - rational assets and facts • Connect - just-in-time 24X7 • Pass the gatekeeper • Competitive – Comparative – Transparent • Extension and expansion are also about your business case Case study - ThinkLondon03 December 2010 13
  14. 14. Solution best practices Story telling - rational assets and facts • Define your keyword epigraph – your brand language • Talk business – opportunity language Case study pronicaragua03 December 2010 14
  15. 15. Making it personal By people – for people • FDI decisions are about life • FDI decisions are about trust • FDI decisions are about talent that you should get Case study Bahrain03 December 2010 15
  16. 16. Social media is a multiplier World Bank President Robert Zoellicks recent note to staff: "Make no mistake about it: this is no longer your grandfather’s World Bank. But we need to continue to change."03 December 2010 16
  17. 17. Social media impact for Global-Arena.com03 December 2010 17
  18. 18. Make it EASY To invest and to keep invesing • Both CRM and IRM Case study Croatia Touchdown London Czechinvest partnership program03 December 2010 18
  19. 19. The DealMaker circle of investor and FDI influence ( Relative to the clients’ Investment Process ) Company FDIYou now depend on: Initiative starts Your online exposure Managed perceptions Together we manage the clients’ Brand recognition extension and expansion The client needs Meaningful focus Long-list selections Presenting facts capabilities and are made expertise Your CRM process starts Client issues here Here you set the rules and tender raise the bar with your Tailor made and Personal Comparative Profile Deal Be absolutely personal Client defines needs, Client creates Making from here requirements and tender document Client processes drafts business case Short-list MAKE IT EASY inquiry responses selections To make the difference Location Client involves ratings Quality information external expertise is hard to obtain and data Systematic option Make it personal as early in the comparison proofs This is the point where you client engagement process as difficult create your first head-start possible, leveraging your Blog and advantage using Comparative Social Media initiatives Ranking03 December 2010 19
  20. 20. Five recommendations 1. Accept that you will have more work and learning to do before you can get to the aspired business outcome – it is hard work; 2. The solution will consist of a multitude of platforms and technologies providing you multiple channels for different market-sector combinations; 3. Consider it a journey and respect the goal; Mount Everest is possible if planned in 20,000 steps with 6 camps by a trained and determined team. But the weather finally allows it to happen. Tip: if the weather (read as your political circumstances) are no good do something else. 4. You will only succeed if the team learns to take pleasure from results and progress on a daily basis – plan small steps. 5. Start the journey with your clients and involve them in your process.03 December 2010 20
  21. 21. Thank youDecember 3, 2010 21
  22. 22. The company Global-Arena.comDecember 3, 2010 l 22
  23. 23. Our playing field Global Arena is the leading innovator in online FDI business • Free & Premium services • Global coverage • ChinaConnect initiative • OpportunityConnect initiative Solutions for private & public sector: • Business Clusters • Business Parks • Commercial Real Estate • City development agencies • Regional development agencies • Metropolitan development agencies • National Promotion agencies03 December 2010 23
  24. 24. Background and status • 2003 University of Ghent develops a Scientific Algorithm Solution for resource allocation, sponsored by Hewlett-Packard • 2003-2008 Scientific Algorithm Solution deployed in HP and other blue chip companies. • 2008 is founded to create an online capability • October 2009 goes live : We found a robust online translation of our algorithm • Today, we currently promote 53 countries with a total of 814 business locations. By the end of 2010, the number will increase over 1000. • Actual Google Page Ranking : 231.00 (expect yours to have 7 digits)03 December 2010 24
  25. 25. The future of FDI deal-making is online • The most powerful and low cost way of global resource allocation • Fast becoming the defacto FDI deal making platform for investors • Enable global reach without a global organization • Engaging online solutions differentiate and drive innovation • Reduces FDI transaction cost • Competition and transparency always lead to better economics • The most effective networking03 December 2010 25