Atlas IEDC Marketing for Success
 

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

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

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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!

Atlas IEDC Marketing for Success Presentation Transcript

  • 1. 1
  • 2. 2 Questions we will answer 1. How do we as a profession feel about the impact we are making on our communities today? 2. What are the basic principles that should drive your economic development marketing? – What should our marketing, job creation, and capital investment objectives be? – How will we know if we are successful? – How can we be more relevant to our investors, boards, and stakeholders? 1. What can we learn from high performing communities? 2. How can we implement high performing marketing programs in our own communities?
  • 3. 3 But first… Cutting through the clutter: The world we work in
  • 4. 4
  • 5. 5
  • 6. 6 Do we as economic developers make a difference?
  • 7. 7 How To Vote via Texting EXAMPLE
  • 8. 8 Poll Question: As a practitioner, how much do you think you impact the overall economic activity in your area?
  • 9. 9 A few principles that drive (or should drive) economic development
  • 10. 10 “Economic development organizations increasingly operate under much tighter budgets at a time when the need for economic development programming is becoming more crucial to the continued vitality and competitiveness of a community.” International Economic Development Council in “High Performing Economic Development Organizations,” 2011
  • 11. 11 What worked 20-50 years ago is not the same as what works today.
  • 12. 12 What hasn’t changed: To make a difference, we have to serve companies directly. If we are not having conversations, we are not making a difference.
  • 13. 13 What has changed: The ways we start conversations have changed forever.
  • 14. 14 Poll Question: Did your organization set measurable goals for your marketing this year (2013)?
  • 15. 15 A simple framework to help define success:
  • 16. 16 What “High Performance Economic Development” is • It is the first measurement of the outcomes (Inquiries, jobs, capital investment) that EDO’s create on this scale. • It proves the ways we make a difference, and in some cases, the ways we don’t. • It can help drive your strategic and marketing planning using actual outcomes, instead of activities, using national benchmarks as your guide.
  • 17. 17 Who participated
  • 18. 18 The Framework
  • 19. 19
  • 20. 20
  • 21. 21 Key finding: Tremendous variance in results Budget Level LOW JOBS ANNOUNCED HIGH JOBS ANNOUNCE D LOW CAPITAL INVESTMEN T ANNOUNCED HIGH CAPITAL INVESTMENT ANNOUNCED LOW INQUIRI ES HIGH INQUIRIE S Under $100,000 20 243 $500,000 $442,000,000 5 214 $100,000 to $249,000 2 1,500 $600,000 $250,000,000 1 400 $250,000 to $499,000 5 5,000 $300,000 $4,500,000,000 3 600 $500,000 to $999,000 4 4,283 $235,000 $2,500,000,000 15 670 $1,000,000 to $2,500,000 35 8,000 $10,000,000 $650,000,000 5 4,000 Over $2,500,000 6 16,835 $1,500,000 $2,200,000,000 3 1,425
  • 22. 22 EDO Performance, benchmarked by population POPULATION YEARLY WEB VISITS INQUIRIES PAST 12 MONTHS AVERAGE JOBS ANNOUNCED LAST 12 MONTHS AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS Less than 25,000 7,779 43 115 $24,951,083 25,001 to 100,000 5,790 90 411 $81,263,040 100,001 to 250,000 23,339 112 737 $330,501,622 250,001 to 1,000,000 48,533 157 1,696 $335,914,394 1,000,000 to 2,500,000 42,753 327 3,035 $378,869,231 Over 2,500,000 23,516 603 6,134 $502,258,333 Average for all Sizes 25,562 146 1,293 $234,366,814
  • 23. 23 EDO Performance, benchmarked by staff size STAFF SIZE AVERAGE YEARLY WEB VISITS AVERAGE INQUIRIES PAST 12 MONTHS AVERAGE JOBS ANNOUNCED LAST 12 MONTHS AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS 1 11,603 56 176 $45,676,585 2 to 3 9,269 85 493 $186,364,000 4 to 9 45,237 161 1,696 $267,705,000 10 to 19 47,977 184 2,859 $469,212,381 20 or more 49,836 799 6,279 $548,110,000 Average for all Sizes 25,562 146 1,293 $234,366,814
  • 24. 24 EDO Performance, benchmarked by budget Budget Level AVERAGE YEARLY WEB VISITS AVERAGE INQUIRIES PAST 12 MONTHS AVERAGE JOBS ANNOUNCED LAST 12 MONTHS AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS Under $100,000 1,240 45 85 67,050,000 $100,000 to $249,000 5,635 59 300 40,047,027 $250,000 to $499,000 12,006 85 542 219,461,767 $500,000 to $999,000 13,755 129 712 210,183,125 $1,000,000 to $2,500,000 30,552 335 1,617 212,146,897 Over $2,500,000 68,819 193 3,987 499,600,294 Average for all Sizes 25,562 146 1,293 $234,366,814
  • 25. 25 Who are the highest performers?
  • 26. 26 Who are the highest performers in key categories?
  • 27. 27 What Does Your Organizational Leadership Expect of You?
  • 28. 28 What’s Your Organization’s Version of Economic Development?
  • 29. 29 What can we learn from the top performers?
  • 30. 30 How the Indy Partnership Defines Economic Development As an economic development practitioner for over 20 years, Marty Vanags has worked in communities such as Rockford, IL, Bloomington, IL, and Indianapolis, IN. In recent years, Marty has been one of the biggest proponents of using all forms of media as a tool to develop relationships with the business leaders and residents in the communities he works in. Marty has hosted ongoing radio shows, contributes to his own blog, and uses Twitter consistently to communicate. “The definition of economic development for me is about developing relationships with, and solving problems for business. I have worked in communities that have been successful at retention, recruitment, and entrepreneurial development, all at different times. Today, social media and my radio shows allows me to cast a wider net than I could even ten years ago – developing and maintaining more relationships – allows me to solve more problems for my community.” - Marty Vanags, Vice President, Regional Economic Development, The Indy Partnership
  • 31. 31 COLUMBUS 2020 – Leading the way using a good ‘ground game’ “Having been on the “other side” as a site selector, I can tell you that I try to run Columbus 2020 with the customer in mind. Under my watch, we have invested heavily in business development staff, because we believe a good “ground game” makes a huge difference for us. Only recently however, and partially because of High Performance Economic Development, have we started to build our marketing capability. I believe strongly that for Columbus to be successful, we need to drive more conversations with our business development staff.” -Kenny McDonald, Columbus 2020, the Columbus Region
  • 32. 32 High Performers: A Day In the Life…. Janet Miller Chief Economic Development Officer Nashville Area Chamber of Commerce Email jmiller@nashvillechamber.com Sara Dunnigan Senior VP, Existing Business Services & Talent Development Greater Richmond Partnership Email Sdunnigan@grpva.com Clint Kolby Project Manager Brenham Economic Development Foundation Email clint@brenhamtexas.com
  • 33. 33 Case Study 1: Nashville Area Chamber
  • 34. 34 Nashville Challenges • “Music City” brand association with old-line country music can paint negative image for business • Shortage of IT workforce with 5+ years experience limiting factor on tech-company growth • National attention to state legislature and political infighting around immigration, incentives, etc. damaging for state image
  • 35. 35 Nashville Goals • Annual dashboard of metrics include: – Job growth – 12,500/year – Per Capita Income growth – 1.6% – Population growth – 1.5%/year – Increase GDP – 2.3% /year – Relocations & Expansions • Number, Jobs, Cap Investment, Square Footage, Jobs Retained – Internal Metrics – prospect visits by industry sector; % ratio of RFP’s to site visits, etc. • Successful launch and implementation of IT recruitment project including – Number of tech jobs created, time to fill, etc. • Legislative scorecard
  • 36. 36
  • 37. 37
  • 38. 38 Nashville Tactics • Get the tools right..nashvilleareainfo.com; RFP process and design; slide decks • Consistent marketing over a period of years to target audiences………site selection consultants #1 – Music = Creativity is the message • Play to strengths rather than weakness – e.g. health care services versus biotech • Policy work on state and local level…
  • 39. 39
  • 40. 40 Nashville Results • Ranked number one for job growth in Atlas Advertising 2012 survey of ECD groups, Top 3 in 2013 • Top Ten Economic Development Group in America, Site Selection Magazine, 2011 • City named: – #1 – Kiplinger’s “Future Job Creating Machines”, 2012 – #3 – “Future Boomtowns”, Forbes 2012 – #2 – Top Start Up Paradise, Young Entrepreneur Council 2012 – #3 – Overall America’s Best Cities, Travel + Leisure 2012 – #2 – Most Cost-Attractive Business Location, KPMG 2012 – Top 10 U.S. Culture Cities – Homes Dot Com, 2012
  • 41. 41 The Corporate Relocation Story
  • 42. 42 Nashville Learning's • Embrace who you are • Public-private sector leadership is key • Metrics matter • Acknowledging weakness is first step to tackling it • People will fund what they are passionate about – Nashville Entrepreneur Center Launch – Tech Talent Campaign
  • 43. 43 Case Study 2: Greater Richmond Partnership
  • 44. 44 Richmond Region Challenges • Bringing together 4 strong localities around shared vision • Integrating private sector investors and interests • Relatively successful – no crisis • Diverse economy – no single strong industry “identity” • Slow growth economy, competitive neighbors • Existing business program needed a boost • Little brand awareness • Tight labor market
  • 45. 45 Greater Richmond Work Program • Business Attraction Regional Marketing • Business Retention and Expansion • New Business Formation & Small Business Support • Talent Development and Promotion
  • 46. 46 Greater Richmond Tactics • Sound foundation in strategic plan – clear message to investors and community – Our work has impact - economic impact • Revisited the plan assumptions – cluster study • Reoriented work programs to support the above goals • Developed internal scorecards and management tools • Refined data systems and tracking methodology
  • 47. 47 Greater Richmond Tactics • Business Attraction Regional Marketing – Cluster Focus – Domestic/International – Engage Stakeholders • Business Retention and Expansion – Cluster Focus – High Growth – High Impact • Talent Development and Promotion – External Market – Cluster Focus – Graduate Retention – High Demand Occupations • New Business Formation & Small Business Support – Innovation – Peer Learning
  • 48. 48 So, What Do They Measure?
  • 49. 49 How do they share?
  • 50. 50 Greater Richmond Results • Specific job creation and investment (and more) goals – by program of work • Attraction program emphasis on quality vs. quantity • Invested in web-based CRM, workflow system • Launched refined collaborative BR&E program • Launched talent portal – RichmondJobNet.com • Launched virtual relocation resource – LoveWhatYouFind.com • Scorecards developed for management, board and investors
  • 51. 51 Greater Richmond’s Learnings “We can’t control the direction of the wind, but we can adjust our sails.” ‘Jobs & capital investment still matter’ • Link & understand process, output and outcome metrics • Alignment, accountability and transparency • Change when conditions change • Embrace technology • Explore “link and leverage” strategies • Focus on conversion • Transactional vs transformational
  • 52. 52 Case Study 3: Brenham Economic Development Foundation
  • 53. 53 Brenham Challenges • In the shadow of Houston and Austin • Seen as more of a tourism destination • Small pool of skilled labor • Lack of available commercial buildings
  • 54. 54 Brenham Goals • Build awareness with site selectors • Familiarization tours with commercial real estate brokers • Reach out to existing primary employers • Strong workforce development partnership with local college and school districts • A leading website that gets 7,000 + visits per year
  • 55. 55
  • 56. 56 Brenham Tactics • Direct e-mail campaigns • Site visits and windshield tours • Survey with local primary employers • Industry tours and training programs • Relevant and updated website content INSERT SCREENSHOT OF SURVEY or SAMPLE EMAIL CAMPAIGNS
  • 57. 57 Brenham Results • 66% increase in the number of conversations • 100% increase in the number of proposals submitted • 50% increase in the number of ongoing prospects • Top micropolitan in Texas by Site Selection magazine for second year in a row
  • 58. 58 Brenham Learnings • Embrace regionalism • Make yourself known • Business retention & expansion is the meat and potatoes of rural economic development • Workforce development is a major ingredient for success
  • 59. 59 Poll Question: After this session, are you more, the same, or less convinced that you can make a difference in your community?
  • 60. 60 Take the survey to participate: http://atlas-advertising.com/Community-Benchmarking-Study.aspx
  • 61. 61 Thank you! Contact information: 1128 Grant St Denver, CO 80203 Contact: Guillermo Mazier t: 303.292.3300 x 232 Guillermom@Atlas-Advertising.com www.Atlas-Advertising.com LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace