Atlas IEDC Phoenix Comprehensive Marketing Case Studies

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Atlas CEO Ben Wright presented latest data and case studies at the IEDC Marketing and Attraction Conference in Phoenix, AZ in March 2012

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Atlas IEDC Phoenix Comprehensive Marketing Case Studies

  1. 1. ComprehensiveEconomic Development Marketing – Case Studies 1
  2. 2. Agenda• A few formative ideas about ED marketing• How research can inform your marketing decisions• What the customers (Site Selectors) say• How marketing should differ by organizational size and type• Case studies – Tucson Regional Economic Opportunities – Webster City, IA• Calculating and valuing the impact of your activities on your community• Q+A 2
  3. 3. Join the community, continuethe dialogue • Join the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd – Tweet questions using hashtag #AskAtlas • Join the community of innovative economic development marketers – Join our Next Gen Economic Development Marketers LinkedIn Group 3
  4. 4. A Few Formative IdeasAbout ED Marketing 4
  5. 5. Whether or not you market, yourcommunity and its brand alreadyexists. It is up to you to shape, notcreate, the brand and story of yourcommunity. If you don’t, you willleave that up to others who mayhave different interests. 5
  6. 6. When considering yourmarketing efforts, setquantitative goals. If you can’tmeasure it, you shouldn’t buy it. 6
  7. 7. States are different from regions anddifferent from individual cities andcounties. The area you represent,your organizational goals, and how youare funded each should drive thetactics you use. 7
  8. 8. Economic developers shouldrespond to those who are alreadylooking before speaking to thosewho aren’t. 8
  9. 9. Businesses may do one majorrelocation in their management’sentire time there. Our job aseconomic developers is to educate,coach, and be relevant to them. Ifwe don’t, we will be cut out. 9
  10. 10. How research caninform your marketingdecisions 10
  11. 11. The regions that consistentlymake the cut in the West 11
  12. 12. Some examples of standardbenchmarks for quantitative goals City or County Region State Goal Benchmark Benchmark Benchmark Deals/Jobs in the pipeline Varies Varies Varies RFI requests per month Varies Varies Varies Website visits per month 1,500 5,000 20,000 Incoming email and phone 15 50 200 inquiries per month Property searches on my 500 2,500 5,000 website per month Social media followers/ 200 500 1,000 connections 12
  13. 13. How to focus your Marketing at thecorrect “moment” for the company 13
  14. 14. Please rate the following in termsof their importance as a source ofinformation: % Important, % Important, Information Source 2011 2006 Site visits (familiarization tours) 100% 100% Existing relationships with ED 95% 88% officials Community websites 90% 63% Third party national data sources 90% n/a Past experience with other deals 81% 71% Word of mouth from peers 57% 43% Calls from local officials 48% 29% Existing relationships with local real 38% 29% estate community National conferences 29% 0% Trade magazines 14 29% 14% Social Media/Social Networks 24% n/a
  15. 15. Incentives, Proximity to Univ.,Access to WorkforceLead the “Fastest Growing” FactorsList 2011 2006 % differenceAccess to customers (large markets) 95% 69% 26%Financial incentives from communities 95% 69% 26%Proximity to a research university 67% 43% 24%Access to technical/scientific workers 90% 70% 20%Quality or fit of specific real estate 90% 75% 15%Access to transportation infrastructure 90% 76% 14%Pro-business tax-regulatory climate 95% 83% 12%Access to senior management talent 76% 64% 12%Quality of life for employees 62% 60% 2%Ability to recruit workforce 95% 96% -1%A rapidly growing region 57% 60% -3%Access to cultural amenities 43% 49% -6%Access to outdoor recreation 10% 38% -28%Climate (weather) 29% 58% -29% 15
  16. 16. Interesting Findings onOnline, GIS, and SocialMedia for EconomicDevelopment 16
  17. 17. Top 10 pages used nationally onED websites1. About Us (about the organization)2. Programs (that the organization offers)3. Data Center4. News5. Relocate and Expand6. Find Property7. Site Selection Services8. Workforce data and Information9. Database of Companies or Largest Employers10.Maps of the Area 17
  18. 18. What new media advancements have youseen that you think are valuable to the siteselection profession? 18
  19. 19. What the Customers(Site Selectors) Say 19
  20. 20. Tracey Hyatt Bosman1. Based in Chicago, IL2. Former economic developer3. Specializes in renewable energy and data centersDirector of Grubb & EllisStrategic Consulting GroupTracey.Bosman@Grubb-Ellis.com 20
  21. 21. What Tracey needs anddoesn’t needWhat We Need What We Don’t• Contact information • General labor statistics• Incentive programs • Secondary source wage• Tax rates information• Recent announcements • Real estate listings• Industry-targeted info • Rankings• Map of your territory • Distance to other major cities• Largest employers• Area colleges and universities 21
  22. 22. Douglas van den Berghe1. Based in Amsterdam, Netherlands2. Specializes in international corporate locationDouglas van den BergheManaging DirectorInvestment Consulting Associatesdouglas@ic-associates.com 22
  23. 23. Douglas van den Berghe What is a cluster? 23
  24. 24. Ed McCallum1. Based in South Carolina2. Partners with Mark Sweeney, a former economic developer3. Specializes in large industrial projectsMcCallum – Sweeney Consultinginfo@mccallumsweeney.com 24
  25. 25. A Site Selector’s rationale forregional economic development 1. Regions have larger, more diverse set of assets for companies 2. Regions can support more effective marketing 3. Regions are better aligned with site selection decisions a) Labor markets b) Infrastructure 25
  26. 26. How marketing should differby organizational objective,size and funding type 26
  27. 27. Economic developmentorganizational objectives Deal focused Promotion Retention/ Infrastructure/ focused Entrepreneur Policy focused ship focusedMission Jobs and wealth from Awareness, Inquiry Jobs and wealth from Improve the business outside inside environmentKey audience Site selectors, prospective Site selectors, Local companies and Local elected companies prospective entrepreneurs officials, government companiesMetrics Deals closed, deals in Awareness, Meetings, issues Projects built, pipeline inquiries/mo. solved, policy legislation passedStaffing ½ business developers, ½ 2/3 marketers and ½ business ½ lobbyists, ½ marketers information developers, ½ , policy/infrastructure producers service providersCore Skills Service, person to person Content creation, Service, consulting Lobbying, public communication, sales. digital affairs communications 27
  28. 28. Size and funding of EDOrganizations• Geographic coverage – States – Large Regions (1,000,000 people plus) – Small Regions (between 100,000 and 1,000,000 in population) – Individual Cities/Counties under 100,000• Funding – Predominantly publicly funded – Public/Private funding 28
  29. 29. Case Study 1:TucsonRegionalEconomicOpportunitiesObjective: PromotionSize: Large Region(1,000,000)Funding: Public(35%)/Private (65%) 29
  30. 30. Economic developmentorganizational objectives Deal focused Promotion Retention/ Infrastructure/ focused Entrepreneur Policy focused ship focusedMission Jobs and wealth from Awareness, Inquiry Jobs and wealth from Business outside inside environmentKey audience Site selectors, Site selectors, Local companies and Local elected prospective companies prospective entrepreneurs officials, government companiesMetrics Deals closed, deals in Awareness, Meetings, issues Projects built, pipeline inquiries/mo. solved, policy legislation passedStaffing ½ business developers, 2/3 marketers and ½ business ½ lobbyists, ½ ½ marketers information developers, ½ , policy/infrastructure producers service providersCore Skills Service, person to Content creation, Service, consulting Lobbying, public person communication, digital affairs sales. communications 30
  31. 31. Tucson’s Goals• TREOs Values – Nurture Competitive Economic Growth – Build Strategic Partnerships – Promote Regionalism – Be an Economic "One Stop" – Maintain a Customer Focus• TREO JobOne – Acceleration of regional and national marketing – Local company assistance – Enhanced tools to spur job creation – Creating a strong and unified voice – Leveraging the federal stimulus 31
  32. 32. Tucson’s Challenges• In the shadow of Phoenix• Seen as more of a tourism destination• In an economically troubled state, and public funding cut dramatically as a result• In the storm of political infighting around immigration, incentives, etc. 32
  33. 33. Tucson’s Target Audience• Targeted industries – Aerospace and Defense – Bioscience – Solar – Transportation & Logistics• Targeted geographies – Southwestern US – California – Western Europe 33
  34. 34. Tucson’s Tactics• Partnership with Phoenix and Nogales, Mexico to form a “super-region”• Industry targeted media trips with local CEOs• A leading website that gets 5,000 + visits per month• Industry content, online and in proposals• Strong legislative presence in favor of incentives• Large scale local event (800 + attendees)• Website: www.treoaz.org 34
  35. 35. Tucson’s Results• From 2005 to 2011: – 37 relocations – 9,200 jobs – $1.4 billion in new investment 35
  36. 36. Case Study 2: City of Webster City, IA Objective: Recruitment Size: Individual City/County (7,500 population, 200,000 in labor shed) Funding: Public 36
  37. 37. Economic developmentorganizational objectives Deal focused Promotion Retention/ Infrastructure/ focused Entrepreneur Policy focused ship focusedMission Jobs and wealth from Awareness, Inquiry Jobs and wealth from Business outside inside environmentKey audience Site selectors, Site selectors, Local companies and Local elected prospective companies prospective entrepreneurs officials, government companiesMetrics Deals closed, deals in Awareness, Meetings, issues Projects built, pipeline inquiries/mo. solved, policy legislation passedStaffing ½ business developers, 2/3 marketers and ½ business ½ lobbyists, ½ ½ marketers information developers, ½ , policy/infrastructure producers service providersCore Skills Service, person to Content creation, Service, consulting Lobbying, public person communication, digital affairs sales. communications 37
  38. 38. Webster City’s Goals• Increase awareness of the City as a destination for business• To recruit/add 500 jobs from 2010-2012• Maximize the reuse of the Electrolux facilities• A clearly articulated image for the City and its economic future – Build a brand – Establish an internal marketing program toward residents – Launch communications to site selectors, allies, and targeted industries – Launch targeted industry marketing• Inspire a generation of local entrepreneurs to forge 38 ahead
  39. 39. Webster City’s TargetAudience• External Audiences: – Midwest based site selection consultants – Foreign counsels in Minneapolis and Chicago – Companies in targeted industries, including – Commercial real estate brokers in large Iowa cities – Buyers and/or suppliers to companies in and around the Webster City area.• Internal Audiences: – Residents of Webster City – Existing employers – Economic development allies at the local, regional, and state levels 39
  40. 40. Webster City’sChallenges• Small market in a rural part of a rural state• Not a well known, household name• No established, centralized economic development entity 40
  41. 41. Webster City’s Tactics• Build a clear product brand that differentiates Webster City as a business location• Feature rich website, with a virtual familiarization tour• Prospect communications – standard PPT presentation• Limited advertising campaign, focused on Midwest site selectors• Direct communications with site selectors and targeted industry list• Limited Trade show participation, focused on targeted industry shows 41• Linkedin for prospecting
  42. 42. Webster City’s Results• Campaign launched January 2011• Quantitative results – Electric car company opened operations in former Electrolux facility in Q1 2011 – Two other prospects that have already visited and are in proposal/decision stage, plus one other that the community lost – The City has been getting calls direct from prospects, including in response to recent press, the citys direct mail and online marketing Website traffic has grown, and time on site has increased – Website is receiving more traffic from ED specific keywords• Qualitative results – The City’s profile and visibility for ED efforts have grown, as has their network of connections across the region/nation. – The City is now receiving emails from all sorts of entities ranging 42 from prospects to other ED groups asking “How they are doing this?”
  43. 43. Calculating and valuing theimpact of your activities onyour community 43
  44. 44. How to value an economicdevelopment promotion activitiesGenerating Generating Generating Jobs andAwareness Inquiry InvestmentKnowledge of the Visits to website Number of jobsOrganization Phone/email inquiries Capital investment Prospect meetings Prospect pipeline 44
  45. 45. Example Economic Developers thathave shared their information 45
  46. 46. The value of various organizations’impact on their communities in context AWARENESS INQUIRY JOBS AND INVESTMENT WEB JOBS SOCIAL MONTHLY INQUIRIE VISITS JOBS IN WON CAPITAL INVESTMENT ORGANIZATION MEDIA GOOGLE S PAST 12 LAST 12 PIPELINE LAST 12 WON LAST 12 MONTHS TOTAL SEARCHES MONTHS MONTHS MONTHS Sub - Region 443 140 21,257 109 2,681 3,531 $ 293,878,000 Large Region 2631 390 37,880 195 46,531 4,048 $ 906,160,000Medim sized region 24 110 8,428 68 4,803 2,285 $ 399,371,908 Medium Sized 371 635 43,618 169 5,878 4,171 $ 875,700,000 Region Medium Sized 486 480 25,572 107 9,635 2,329 $ 424,082,780 Region 46
  47. 47. Summary of Value $1,131,835,705 $980,924,278 $632,667,138 $621,058,567 $394,691,425 47 Large Region Medium Sized Sub-region with Medium Sized Southeast Medium Sized Region Large Region Region Business Region Partnership
  48. 48. Would you like to join a nationalcommunity to benchmark the impactyou have? • Fill out the survey at the link on the sheet at your table • We will send you a report about how your community ranks 48
  49. 49. 49
  50. 50. Hear more from Keith Gendreau ofCushman & Wakefield:Attend the Atlas webinar March 14:How Site Selectors are Using GIS to Evaluate Locations and "Short-List" Communitieshttp://www.atlas-advertising.com/How-Corporate- Real-Estate-GIS.aspx 50
  51. 51. 51
  52. 52. Contact Atlas Contact information: 2601 Blake Street, Suite 301 Denver, CO 80205 Contact: Ben Wright t: 303.292.3300 x 210 benw@Atlas-Advertising.com www.Atlas-Advertising.com LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace 52

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