Marketing Your Community And Managing Prospects 2010


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Presentation to 2010 Basic Economic Development class at UAlbany in June 2010

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  • Ask class “What is Marketing?”
  • Here is one definition that I found on-line
  • Here is another, more convoluted definition
  • I like this one!
  • On Monday I talked about strategies, tactics and tools. Starting with a strategy is critical to creating a marketing plan.
  • Have any of you heard of Eric Canada? He is an economic development consultant who, I think, has a real feel for what is great economic development marketing.
  • Erin, What would the Development Corporation’s Marketing Plan mission statement be?
  • What is a Communications Plan? A communication plan is a written document that describes what you want to accomplish with your communications (your objectives), ways in which those objectives can be accomplished (your goals or program of work), to whom your association communications will be addressed (your audiences), how you will accomplish your objectives (the tools and timetable), and how you will measure the results of your program (evaluation). Communications include all written, spoken, and electronic interaction with association audiences. A communication plan encompasses objectives, goals, and tools for all communications, including but not limited to: periodic print publications; online communications; meeting and conference materials; media relations and public relations materials; marketing and sales tools; legal and legislative documents; incoming communications, including reception procedures and voice mail content; committee and board communiques; corporate identity materials, including letterhead, logo, and envelopes; surveys; certificates and awards; annual reports; signage; speeches; and invoices. What is a Sales Plan?
  • Keep your data fresh. Update content every other day.
  • Marketing Your Community And Managing Prospects 2010

    1. 1. “ Marketing Your Community And Managing Prospects ” NYS Basic Economic Development Course Wednesday, June 23, 2010 3:30 – 5:00 P.M. University at Albany
    2. 2. Part I - ECONOMIC DEVELOPMENT MARKETING <ul><li>Marketing and Sales </li></ul><ul><li>What is marketing? </li></ul><ul><li>To communicate about a product or service, the purpose of which is to encourage recipients of the communication to purchase or use the product or service. </li></ul>
    3. 3. Marketing and Sales <ul><li>What is marketing? </li></ul><ul><li>The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. </li></ul>
    4. 4. Marketing and Sales <ul><li>What is marketing? </li></ul><ul><li>The process of identifying and communicating with qualified prospects </li></ul><ul><li>The ability to gain interest in your product or service from the customer </li></ul><ul><li>What is sales? </li></ul><ul><ul><li>The ability to deliver what the customer wants </li></ul></ul>
    5. 5. Marketing And Sales <ul><ul><li>The Marketing Planning Process </li></ul></ul><ul><ul><li>Start with a Strategy </li></ul></ul><ul><ul><li>Strategy Encourages Growth </li></ul></ul><ul><ul><li>Budget Limits Growth </li></ul></ul><ul><ul><li>Budget Says “Can’t do it” </li></ul></ul><ul><ul><li>Strategy Says “Do it or fail” </li></ul></ul>
    6. 6. Create a Marketing Plan <ul><li>ED Marketing Expert Eric Canada Says </li></ul><ul><li>After building and implementing dozens of marketing plans, it has become clear that there are two critical elements: </li></ul><ul><ul><ul><li>It must be simple </li></ul></ul></ul><ul><ul><ul><li>It must address points of challenge </li></ul></ul></ul>
    7. 7. Create a Marketing Plan <ul><li>Mission Statement </li></ul><ul><li>SWOT Analysis </li></ul><ul><li>Strategy </li></ul><ul><li>Clients </li></ul><ul><li>Target Audiences </li></ul><ul><li>Goals and Objectives </li></ul><ul><li>Resources </li></ul><ul><li>Strategic Partners </li></ul><ul><li>Positioning </li></ul><ul><li>Promotion </li></ul><ul><li>© 2002 Blane Canada, Ltd. Marketing Plan Template </li></ul>
    8. 8. Create a Marketing Plan <ul><li>Communications Plan </li></ul><ul><li>Sales Plan </li></ul><ul><li>1 st Year Action Plan </li></ul><ul><li>Evaluation Criteria </li></ul><ul><li>Executive Summary </li></ul><ul><li>End Notes </li></ul><ul><li>© 2002 Blane Canada, Ltd. Marketing Plan Template </li></ul>
    9. 9. Create a Marketing Plan <ul><li>Create a Plan based on your Strategy </li></ul><ul><li>Don’t hold back on the Research </li></ul><ul><li>Be Realistic about your Targets </li></ul><ul><li>Be Objective about your Community’s Advantages and Disadvantages </li></ul><ul><li>Your Materials must be High Quality </li></ul>
    10. 10. Create a Marketing Plan <ul><li>From 65 to 80% of all new jobs come from existing business expansions </li></ul><ul><li>Identify a Unique Selling Proposition! </li></ul><ul><li>Define Success before you begin! </li></ul>
    11. 11. Marketing And Sales When Marketing -Think Regionally!
    12. 12. Implementing Your Plan <ul><li>Getting Your Message Out - Tools You Can Use </li></ul><ul><li>Advertising </li></ul>
    13. 13. Implementing Your Plan <ul><li>Getting Your Message Out - Tools You Can Use </li></ul><ul><li>Public Relations </li></ul>
    14. 14. Implementing Your Plan <ul><li>Web Sites and Email </li></ul>
    15. 15. Implementing Your Plan Web Sites and Email
    16. 16. Implementing Your Plan <ul><li>Web Sites and Email </li></ul>
    17. 17. Implementing Your Plan <ul><li>Trade Shows </li></ul>
    18. 18. Implementing Your Plan <ul><li>Direct Mail </li></ul>
    19. 19. Implementing Your Plan <ul><li>Networking/Special Events </li></ul>
    20. 20. Implementing Your Plan <ul><li>Networking/Special Events </li></ul>
    21. 21. Implementing Your Plan <ul><li>One-on-One Meetings </li></ul>
    22. 22. Developing the Budget <ul><li>Major Expense Items </li></ul><ul><ul><li>What can you accomplish using in-house resources, board members or strategic allies? </li></ul></ul><ul><ul><li>What needs to be contracted out? </li></ul></ul><ul><ul><li>How do you raise the money you need? </li></ul></ul>
    23. 23. Developing the Budget <ul><li>Funding your Marketing Program </li></ul><ul><ul><li>Annual Outreach to Local Businesses that benefit from Economic Development </li></ul></ul><ul><ul><li>Local Government (if elected officials are ready to accept that marketing does not always produce immediate ribbon-cuttings) </li></ul></ul><ul><ul><li>Grant Programs – State, Utilities, other </li></ul></ul>
    24. 24. The Latest Trends <ul><li>Social Media </li></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>LinkedIn </li></ul></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><li>You Tube </li></ul></ul><ul><li>Virtual familiarization tours </li></ul><ul><ul><li> </li></ul></ul><ul><ul><li>Keyhole Technology/Google Earth </li></ul></ul><ul><li>Marketing to attract workforce </li></ul><ul><ul><li>“ Come Home to ….” Campaigns </li></ul></ul>
    25. 25. The Latest Trends <ul><li>Search Engine Marketing </li></ul><ul><ul><li>Google </li></ul></ul><ul><ul><li>Yahoo </li></ul></ul><ul><ul><li>Bing </li></ul></ul><ul><li>Fully integrate GIS into your web site </li></ul><ul><ul><li>Fast GIS </li></ul></ul><ul><ul><li>Rolta </li></ul></ul><ul><ul><li>Zoom Prospector </li></ul></ul><ul><ul><li>ESRI </li></ul></ul>
    26. 26. Should I Sell or Market? <ul><li>Market or Sell? </li></ul><ul><li>Are we collecting leads or trying to attract investment and jobs to our communities? </li></ul><ul><li>Always work the prospects that you have, before you work on the prospects you hope to have! </li></ul>
    27. 27. Marketing And Sales <ul><li>“Prepared Communities Win” </li></ul><ul><li>Mark Sweeney </li></ul><ul><li>McCallum Sweeney Consulting </li></ul>
    28. 28. Prepared Communities Win <ul><li>Site Location Studies are Shorter and Shorter </li></ul><ul><li>They use Technology and Data Bases </li></ul><ul><li>They are Market Driven & Cost Driven </li></ul><ul><li>They seek Existing Facilities & Infrastructure </li></ul><ul><li>Decision Making is Much Faster </li></ul>
    29. 29. Lead and Prospect Management
    30. 30. Part II Lead and Prospect Management <ul><li>Your Marketing Plan is Producing Contacts </li></ul><ul><li>Are You Prepared?????? </li></ul>
    31. 31. Part II Lead and Prospect Management <ul><li>Turning Leads into Prospects </li></ul><ul><ul><li>Recognize a “Good Lead” and follow-up </li></ul></ul><ul><ul><li>Recognize a “Bad Lead” and follow-up </li></ul></ul><ul><ul><li>ALWAYS FOLLOW-UP – NO MATTER WHAT </li></ul></ul>
    32. 32. Lead and Prospect Management <ul><li>Site Selection is a Process of Elimination </li></ul><ul><ul><li>Your job is to keep your community in the competition </li></ul></ul><ul><ul><ul><ul><li>Ask questions </li></ul></ul></ul></ul><ul><ul><li>Credibility is something that is earned </li></ul></ul><ul><ul><ul><ul><li>Don’t assume anything </li></ul></ul></ul></ul><ul><ul><li>Confidentiality is a must </li></ul></ul><ul><ul><ul><ul><li>A breach could end the game </li></ul></ul></ul></ul>
    33. 33. Prospect Management <ul><li>Prepared Communities Win </li></ul><ul><ul><li>Know Your Prospect </li></ul></ul><ul><ul><ul><li>Why are they expanding or relocating? </li></ul></ul></ul><ul><ul><ul><li>What are the decision drivers? </li></ul></ul></ul><ul><ul><ul><li>Their organizational structure and culture? </li></ul></ul></ul><ul><ul><ul><li>The products or services they provide? </li></ul></ul></ul>
    34. 34. Prepared Communities Win <ul><li>According to Area Development Magazine’s 21st Annual Survey published in January 2007 </li></ul><ul><li>78% of companies performing a site search begin by looking for an existing facility. This is up from 73% in 2006 </li></ul><ul><li>Of the 78% of companies looking for an existing building, only about one in four find one that suits their needs. </li></ul><ul><li>So, you must also have a great site or sites!! </li></ul>
    35. 35. Prospect Management <ul><li>Prepared Communities Win </li></ul><ul><li>Know Your Prospect’s Site Location Requirements </li></ul><ul><li>For Manufacturing </li></ul><ul><ul><li>Infrastructure – Water, sewer, power </li></ul></ul><ul><ul><li>Ready-to-go sites – “Shovel-Ready” is the standard </li></ul></ul><ul><ul><li>Logistics – access to markets via highway, rail, air </li></ul></ul><ul><ul><li>Skilled workers – availability, skills, vocational training </li></ul></ul>
    36. 36. Prospect Management <ul><li>Prepared Communities Win </li></ul><ul><li>Know Your Prospect’s Site Location Requirements </li></ul><ul><li>For Big Box Distribution Centers </li></ul><ul><ul><li>Large Sites – 2,100’ x 2,800’ or 2,400’ x 2,800’ </li></ul></ul><ul><ul><li>(this is changing) </li></ul></ul><ul><ul><li>Logistics – access to markets via highway </li></ul></ul><ul><ul><li>Infrastructure – Water, sewer, power </li></ul></ul><ul><ul><li>Workers – availability </li></ul></ul>
    37. 37. Prospect Management <ul><li>Prepared Communities Win </li></ul><ul><li>Know Your Prospect’s Site Location Requirements </li></ul><ul><li>For Customer Service Centers </li></ul><ul><ul><li>Available space </li></ul></ul><ul><ul><ul><li>with telecom, reliable power, open floor plan </li></ul></ul></ul><ul><ul><li>Available, trainable work force </li></ul></ul><ul><ul><ul><li>Concentration of customer contact centers </li></ul></ul></ul><ul><ul><ul><li>Two and four year colleges </li></ul></ul></ul><ul><ul><ul><li>Work ethic and service culture </li></ul></ul></ul>
    38. 38. Prospect Management <ul><li>Prepared Communities Win </li></ul><ul><li>Know Your Prospect’s Site Location Requirements </li></ul><ul><li>For Data Centers </li></ul><ul><li>Conflicting Requirements and Few Jobs </li></ul><ul><ul><li>Infrastructure </li></ul></ul><ul><ul><ul><li>Heavy, reliable power, fiber/telecom </li></ul></ul></ul><ul><ul><li>Remote Location </li></ul></ul><ul><ul><ul><li>Proximity to a potential hazard is a deal–killer </li></ul></ul></ul><ul><ul><ul><li>No rail, airports, highways nearby; No gas lines, environmental issues, etc. </li></ul></ul></ul>
    39. 39. Prospect Management Maintain Confidentiality <ul><li>Know Your Competition </li></ul><ul><ul><li>Identify Other Communities on the Short List </li></ul></ul><ul><ul><li>Assess their Advantages and Disadvantages </li></ul></ul><ul><ul><li>Enhance Your Position, if Possible. </li></ul></ul><ul><ul><li>Be Respectful of your Competition </li></ul></ul><ul><ul><li>Emphasize your Community’s Strengths </li></ul></ul>
    40. 40. Prospect Management Maintain Confidentiality <ul><li>Working with Site Location Consultants </li></ul><ul><li>Companies Hire Consultants for Different Reasons and Sometimes for Different Sections of the Location and/or Site Search </li></ul>
    41. 41. Prospect Management Maintain Confidentiality <ul><li>Working with Site Location Consultants </li></ul><ul><ul><li>Anyone Can Call Themselves a Consultant </li></ul></ul><ul><ul><li>Qualify the Consultant as you would Qualify a Suspect or Lead </li></ul></ul><ul><ul><li>Be Responsive </li></ul></ul>
    42. 42. Prospect Management Maintain Confidentiality <ul><li>Working with Site Location Consultants </li></ul><ul><ul><li>The RFI - Answer the Questions! </li></ul></ul><ul><ul><ul><li>Don’t respond with brochures </li></ul></ul></ul><ul><ul><li>Meet Their Deadlines </li></ul></ul><ul><ul><ul><li>No matter how challenging </li></ul></ul></ul><ul><ul><ul><li>They are usually real </li></ul></ul></ul><ul><ul><li>Follow-up and Establish a Relationship </li></ul></ul><ul><ul><li>Be an “Expert Intermediary” </li></ul></ul>
    43. 43. Prospect Management Maintain Confidentiality <ul><li>The Visit </li></ul><ul><ul><li>Work with the Prospect or Consultant on the Itinerary and don’t deviate from it (unless they request it) </li></ul></ul><ul><ul><li>Assemble and Coach your Team </li></ul></ul><ul><ul><li>Include only Necessary Players ( if you can help it ) </li></ul></ul><ul><ul><li>Practice, Practice, Practice (do a dry run) </li></ul></ul><ul><ul><li>Be Efficient – Communicate; Don’t Guess </li></ul></ul><ul><ul><li>Leverage Required Resources </li></ul></ul><ul><ul><li>No Surprises! </li></ul></ul>
    44. 44. Prospect Management Maintain Confidentiality <ul><li>The Presentation during the Visit </li></ul><ul><ul><li>Keep it focused on the vital information that the prospect or consultant requires </li></ul></ul><ul><ul><li>Leverage required resources </li></ul></ul><ul><ul><li>“Practice, Practice, Practice” </li></ul></ul><ul><ul><li>Don’t Blow It – If you are not a good presenter, use a board member or ally </li></ul></ul>
    45. 45. Prospect Management Maintain Confidentiality <ul><li>The Site Tour </li></ul><ul><ul><li>Assemble your team - The experts must be present </li></ul></ul><ul><ul><li>Now is the time to sell </li></ul></ul><ul><ul><li>Try to have all the answers, but don’t guess. If in doubt just say, “I don’t know, I will get you that information” </li></ul></ul><ul><ul><li>Know the sites well – don’t stumble </li></ul></ul>
    46. 46. Prospect Management Maintain Confidentiality <ul><li>The Follow-up after the Visit </li></ul><ul><ul><li>Promptly address all issues raised </li></ul></ul><ul><ul><li>Promptly respond to all new information requests </li></ul></ul><ul><ul><li>Make final incentive offer (if required) </li></ul></ul><ul><ul><li>Maintain confidentiality </li></ul></ul>
    47. 47. Prospect Management Finally You Don’t Have to Maintain Confidentiality <ul><li>The Announcement </li></ul><ul><ul><li>Managing the announcement if you win </li></ul></ul><ul><ul><li>Managing the Announcement if you lose </li></ul></ul><ul><ul><li>Conducting the exit interview </li></ul></ul><ul><ul><li>Maintain a database of vital information about wins and losses </li></ul></ul>
    48. 48. THANK YOU Questions?