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Atlas at IEDC Marketing: Understanding the Product

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Atlas CEO Ben Wright presents "Understanding the Product" at the International Economic Development Council's 2013 Marketing and Attraction Conference on October 3, 2013 in Philadelphia PA.

Atlas CEO Ben Wright presents "Understanding the Product" at the International Economic Development Council's 2013 Marketing and Attraction Conference on October 3, 2013 in Philadelphia PA.

Published in: Business, Technology

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  • This slide is for display to the audience to show them how they will vote on your polls in your presentation. You can remove this slide if you like or if the audience is already comfortable with texting and/or voting with Poll Everywhere.Sample Oral Instructions:Ladies and gentlemen, throughout today’s meeting we’re going to engage in some audience polling to find out what you’re thinking, what you’re up to and what you know. Now I’m going to ask for your opinion. We’re going to use your phones to do some audience voting just like on American Idol.So please take out your cell phones, but remember to leave them on silent. You can participate by sending a text message.This is a just standard rate text message, so it may be free for you, or up to twenty cents on some carriers if you do not have a text messaging plan. The service we are using is serious about privacy. I cannot see your phone numbers, and you’ll never receive follow-up text messages outside this presentation. There’s only one thing worse than email spam – and that’s text message spam because you have to pay to receive it!
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  • Transcript

    • 1. IEDC Marketing and Attraction: Understanding the Product
    • 2. Who Are My Heroes?
    • 3. Questions We Will Answer 1. What is the purpose of knowing everything about my community? 2. What data should I measure about my community? 3. Who are the audiences for the data I produce? 4. What formats do those consumers want information in? 5. How to use data to position your community 6. What data should I measure about my organization? 7. How should I go about selecting targeted industries? 8. Who in the organization should do this work? 9. What tools make it easier for me? 10. What should I outsource versus do in house?
    • 4. Download the slides, listen to the video, continue the dialogue • Continue the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd – Tweet questions using hashtag #AskAtlas – Join Next Gen Economic Development Marketers LinkedIn Group • View and share the slides with your colleagues (available now): http://bit.ly/fQB6hC
    • 5. How To Vote via Texting
    • 6. Poll question: Knowing more things about my community than other people makes me…
    • 7. What is the purpose of knowing everything about my community?
    • 8. What Data Should I Measure about my Community?
    • 9. Don’t reinvent the wheel – start where others have left off http://www.iedconline.org/?p=data_standards Demographics Four year colleges Labor Union information Labor Force Community colleges Transportation assets Employment by industry Vocational/ technical centers Real estate occupancy New companies to the area Payroll costs by industry Utilities Military bases Average salary by occupation Environmental information Research institutions Workers comp costs Government International resources Quality of Life Available Real Estate
    • 10. Who Are the Audiences for the Data I Produce?
    • 11. Poll question: Who is the most important audience you serve?
    • 12. Consider your audience when spending your time: 1. Site selectors and companies value workforce, labor, cost, and other comparative data. 2. Your investors, stakeholders, and other local businesses want to know about the performance of the economy over time.
    • 13. Tracey Hyatt Bosman 1. Based in Chicago, IL 2. Former economic developer 3. Specializes in renewable energy and data centers Midwest Practice Leader – Biggins, Lacy and Shapiro
    • 14. What Tracey needs and doesn’t need What We Need • Contact information • Incentive programs • Tax rates • Recent announcements • Industry-targeted info • Map of your territory • Largest employers • Area colleges and universities What We Don‟t • General labor statistics • Secondary source wage information • Real estate listings • Rankings • Distance to other major cities
    • 15. Keith Gendreau • Based in Cushman & Wakefield‟s Minneapolis office • Consulting Manager within C&W‟s Global Business Consulting division • Geographer by Trade. Master‟s Degree in Economic Development • Very specialized skills in GIS analysis and tools
    • 16. Site Selection Trends • The location strategy process has remained largely unchanged over the past decade. What has changed are the timeframe and tools for which to deliver results and recommendations. Today, more so than ever, clients are: • Making decisions quickly and efficiently; • Seeking available buildings meeting specific requirements; • Cost sensitive (labor, utilities, freight, occupancy, incentives offset); and, • Interested in the „bottomline‟ operating cost vs. non-cost environment classic tradeoff. • General Trends • C&W Business Consulting has experienced a significant uptick in site selection activity by foreign companies seeking to manufacture products locally in the United States vs. abroad • Exchange rates and rising transportation costs a possible contributing factor to foreign interest • Continued revelation of spatial integration of data
    • 17. Decision Support Data Sources and Tools Geographic Information Systems (GIS) Mapping Location specific wage database C&W Team, 150+ years of specific relevant experience Comprehensive demographic and segmentation database Spatial and non-spatial data integration Comprehensive Industry employment forecast, population mobility data • C&W Global Business Consulting maintains the most up to date demographic databases and spatial analysis tools to execute projects of this type.
    • 18. • Situation: – Headquarters relocation from Midwest – Includes a new showcase manufacturing facility – Critical international air service requirement • Once 2 priority metros were identified, a sub-market location screen was conducted: – Headquarters • “Cluster” analysis focused on satisfying executive lifestyles including, quality-of-life, commute times, and airport access. – Manufacturing Facility • Facility must reside within 45-60 minutes of the new headquarters. Human resources driven, other key considerations include sites/buildings and incentives. • Results support: • Site recommendations for due-diligence field study (define top two headquarters and three manufacturing in order of preference) • Viability of least preferred markets • Likelihood and magnitude of incentive benefits Case Study 1: Workforce Analysis
    • 19. Case Study 1: Workforce Analysis • To identify best HQ submarkets, the analysis focused on resident characteristics aligned with relocatee demographics and quality-of-life indicators. • Plotting of “executive lifestyle clusters” (green shading) within a 60-minute drivetime of Philadelphia airport. • Client expressed interest in considering the Navy Shipyard as a possible co- location scenario for both manufacturing and headquarters operations. • Radnor submarket & vicinity identified as optimally positioned for maximum regional commutable executive housing options.
    • 20. Your local stakeholders want your opinion and analysis 1. What are the trends in the local economy? 2. What does this data mean? 3. What does it mean for their business? LAEDC: 25,000 person mailing list, updates sent weekly
    • 21. What Formats Do Those Consumers Want Information in?
    • 22. Sample Formats and Delivery Data Delivery method Format Workforce data Online, in GIS system In GIS system, exporting to excel Employment data Online Downloadable Excel Cost data Online Downloadable Excel Infrastructure Online GIS maps and illustrated maps Commentary on the economy Online, in print Narrative
    • 23. What Data Should I Measure About My Organization?
    • 24. Key organizational data (for internal use) 1. Interactions with the organization a. Web visits b. Inquiries and companies served 2. Impact of the organization a. Jobs created/influenced b. Capital investment 3. Other operating metrics
    • 25. Benchmark your community’s activity against similarly sized communities http://Atlas2012BenchmarkingSurvey.questionpro.co m
    • 26. Sample report
    • 27. How Should I go About Selecting Targeted Industries?
    • 28. Poll question: What is the most important industry in your community to understand?
    • 29. How to select targeted industries •The easy way: Use the industries that states and regions you are in have selected •The hard way: Do your own research, and do positioning statements for each industry. If you have no differentiators for an industry, don‟t select the industry. •The expensive way: Hire a firm for a 3-9 month study
    • 30. DIY: Foundation for positioning 1. Decide on your audience 2. Understand their drivers and needs 3. Understand who your comparison communities are 4. Do the research on yourself and the other communities 5. Find out the one or two unique elements of your community
    • 31. How to use data to position your community competitively Positioning is answering the following questions: Who are my target customers? What are their needs? What type of community are we in their minds? What needs of theirs do we meet? What needs of theirs do we meet better than other communities? For: Aerospace, Biomedical location decision makers Who need: Highly technical workforce, competitive labor costs, and access to intl. airport Houston is: a large region That offers: Workforce trained by NASA and the Texas Medical Center, and a cost of doing business that is 5% below the national average Unlike: Other large cities, Houston has a larger workforce pool at costs as much as 30% less than comparable coastal communities.
    • 32. Who in the Organization Should Do This Work?
    • 33. Poll question: How many full time employees work in your organization, in an economic development function?
    • 34. Roles in the organization (in house) Title Research they access Key audience served Executive All All, including investors, stakeholders Business Development Product research Relocating, and Expanding companies Marketing Product research Relocating, and Expanding companies Research All Internal and external audiences
    • 35. What Tools Make it Easier For Me?
    • 36. What tools are available to you to understand your community? Government Sources Private sources
    • 37. Tools to gather organizational data
    • 38. What Should I Outsource Versus do In House?
    • 39. What should I outsource vs. do myself? Data Do in house Outsource Comparative product data X Time series product data and narrative X Organizational data X
    • 40. Contact Atlas Contact information: 1128 Grant Street Denver, CO 80203 Contact: Ben Wright t: 303.292.3300 x 210 benw@Atlas-Advertising.com www.Atlas-Advertising.com LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace