Have you ever wanted to show your board or your elected officials the value of economic development? View this ppt to find out how economic development organizations can measure/quantify the value of their promotional activities.

1. Economic Development Survival Metrics
Presented by

2. Your Hosts
Guillermo Mazier – Director, Strategic Accounts
– Former economic developer and tourism marketer for the Costa Rican
Investment and Trade Development Board
– Managed economic development and tourism campaign for Tortugero, CR
– Industry speaker, content strategy and digital marketing specialist
guillermom@atlas-advertising.com
www.twitter.com/atlasad
Tim Terrentine – Executive VP, Managing Director of Consultant Connect
– Focused on the support, education and growth of small businesses in the
region
– Serves as President of the Kalamazoo Regional Chamber of Commerce
– Among the industry’s leading thinkers in leadership based economic
development, accountability and impact.

3. Introducing Atlas
1. Denver-based marketing services company, specializing in economic development
2. Founded in 2001, with 27 employees
3. Has worked with more communities than any other economic development marketing
services firm in the past 10 years: 160+ economic development clients in 43 states and 6
countries
4. Specialize in providing branding, marketing planning, digital marketing, and GIS enabled
websites, all for economic development
5. Pioneered the industry’s first metrics based benchmarking approach for marketing, business
attraction, and business retention: High Performance Economic Development Marketing
6. IEDC’s High Performance Economic Development Marketing Partner
7. Frequent public speaker and lead speaker on benchmarking marketing, business attraction,
and business retention programs, as well as on branding, research, digital marketing,
websites, and GIS.

4. Presenting from Phoenix, AZ

5. View the slides, continue the dialogue
• Continue the Conversation:
– Follow us on Twitter:
www.twitter.com/AtlasAd
– Tweet questions using hashtag
#ASKATLAS
– Join High Performance Economic
Development LinkedIn Group
• View and share the slides with your
colleagues (available now):
www.slideshare.com/wright0405

6. Outline
1. Introductions
2. The Metrics Situation in Economic Development
3. The Need for Metrics in Economic Development
4. What Happens if We Don’t Use Metrics
5. How to Put Metrics into Practice
6. Southwest Michigan First – Authentic Accountability
7. How to Get Your Community’s Report
8. Wrap up/Questions

7. Poll Question:
What is your primary function in your organization?

8. Poll Question:
As a practitioner, how much do you think you impact the
overall economic activity in your area?

9. The Metrics Situation in
Economic Development

10. History of Metrics for Economic
Development
In 2015, the general
public still doesn’t
know the value of
what we do
EDOs have been
measuring their
performance for years
However, with differing
viewpoints, metrics have
gotten muddy and
misunderstood
In 2011, Atlas put
together its first survey of
EDO outcomes, to assist
EDOs in planning their
marketing, business
attraction, and business
retention programs
2011
In 2014, IEDC published
its “Making it Count”
Metrics for High
Performing EDOs
2014
2015

11. 175 < 25,000
Average companies served
Typical number of establishments
in a community
Source: Atlas 2014 Benchmarking Study
EDOs service companies that
comprise a very small percentage of
their economies.

12. Why We Need Metrics for Economic
Development

13. There is Too Much Discussion About Whether or Not Economic
Developers are Essential, While Interest in Economic Development
Organizations Wanes

14. Implications if we don’t use Metrics

15. Budget Level
LOW JOBS
ANNOUNCED,
2014
HIGH JOBS
ANNOUNCED,
2014
Under $100,000
20
243
$100,000 to $249,000
2
1,500
$250,000 to $499,000
5
5,000
$500,000 to $999,000
4
4,283
$1,000,000 to
$2,500,000
35
8,000
Over $2,500,000
6
16,835
Source: Atlas Report - Why Metrics Matter, 2014
Average difference:
978x
The Spread Between High and Low Performing Organizations is
Staggering, at All Sizes

16. How to Put Metrics Into Practice

17. How Does Your Organization Prioritize Business
Recruitment, Retention, and Marketing/Promotion?

18. Four Ways the International Economic Development
Council Defines High Performance
1. Internal Segment (Employee
satisfaction, funding sources)
2. ED Program Segment (Business
Attraction, Business Retention,
Business Creation)
3. Relationship Management Segment
(Relationships with internal and external
stakeholders)
4. Community Segment (Community well
being, in terms of demographics,
workforce, household income, etc.)

19. Atlas High Performance Economic Development
Focuses on the Relationship Management Segment,
plus Outcomes from those Relationships
1. Internal Segment (Employee satisfaction,
funding sources
2. ED Program Segment (Business Attraction,
Business Retention, Business Creation)
3. Relationship Management Segment
(Relationships with internal and external
stakeholders)
4. Community Segment (Community well being,
in terms of demographics, )
Outcomes for jobs announced
and capital investment announced

20. Start With the Big 4, Then Get More

21. Poll Question:
Should we use outcomes to measure ourselves?

22. Poll Question:
Did your organization set measurable goals for your
marketing, business development, and business retention
programs this year (2015)?

23. Poll Question:
What is stopping you from implementing metrics for your
role within the organization?

24. Steps to Put High Performance
into Practice
1. Discuss your organizational priorities for marketing, business recruitment,
and business retention, and start with a simple score card
2. Assign metrics to certain staff
3. Set a plan to influence that metric for each staff person
4. Make the plan transparent to your stakeholders
5. Execute, report, and adjust

25. What Type of Organization Do You Want to be When
You Grow Up?

26. Assigning Metrics to Staff: What Metrics Does Each
Function Influence?
WEB VISITS
INQUIRIES /
CONVERSATIONS
JOBS
ANNOUNCED
CAPITAL
INVESTMENT
ANNOUNCED
CEO/Executive
X X X X
Business
Developer
X X X
Marketer
X X
Researcher
X

27. Setting a Plan so That Each Staff
Person Can Drive High Performance
BUILD THIS

28. Economic Development CEO / Executive
Metrics He/She Should Influence
1. All
Role He/She Plays
1. Setting the vision for the organization
2. Creating a culture of accountability and transparency
3. Setting the parameters for a metrics score card
4. Allocating staff and resources
5. Building capacity to ensure board engagement
Sphere of Influence

29. Business Developer
Metrics He/She Should Influence
1. Inquiries/Conversations with Companies
2. Jobs Announced/Conversations
3. Capital Investment Announced/Conversations
What He/She Should Focus On
1. Rapid response to prospects
2. Investigating prospect needs
3. Providing customized responses
4. Proactively prospecting
5. Filling, monitoring and maintaining BD pipeline
Sphere of Influence

30. Marketer
Metrics He/She Should Influence
1. Website visits
2. Ratio of website visits/inquiries
What He/She Should Focus On
1. Creating opportunities for BD, through marketing
2. Driving traffic to the website via search engines,
social media, email
3. Keeping content fresh and relevant
4. Leveraging the latest marketing tools and
software to create a competitive advantage for
her community
Sphere of Influence

31. Researcher/Economist
Metrics He/She Should Influence
1. Website Visits
2. Jobs Announced
3. Capital Investment Announced
Role He/She Plays
1. Creating outstanding and differentiated content for
all teams
2. Providing customized data to the business
developer
3. Managing and reporting on benchmarked data
4. Leveraging the latest data sources and tools
Sphere of Influence

32. Benchmark Your Community Using Atlas’ High
Performance Economic Development
1. Take the survey here:
2. View your report online: here

33. A Case Study on Metrics:
SOUTHWEST MICHIGAN FIRST
"The person who says it cannot be done should not
interrupt the person doing it.”
- Chinese Proverb
Tim Terrentine, Vice President

34. AUTHENTIC
TIM
TERRENTINE
execu0ve
vice
president
|
Southwest
Michigan
First
managing
director
|
Consultant
Connect
@#mterren#ne
www.catalystconnect.org
Atlas
Adver#sing
Metrics
Webinar
(2015)
ACCOUNTABILITY

35. The
Economic
Development
Profession

36. Source:
U.S.
Census,
Southwest
Michigan
First
ECONOMIC
DEVELOPMENT
Customers
Genera0ons
Expecta0ons

37. WHY
Metrics?

38. NO
Metrics?
Your
story
will
be
told…
Hopefully
by
YOU!

39. IMPLEMENTING
Metrics?
TALENT
FOCUS
AUTHENTICITY

40. AUTHENTIC
ACCOUNTABILITY

41. HOW
WE
GOT
HERE

42. In
2011,
Governor
Rick
Snyder’s
ini#a#ves
divided
the
state
into
various
regions.
The
seven
coun#es
of
Southwest
Michigan
were
joined
together.
Southwest
Michigan
First
was
selected
to
lead
our
region’s
collabora#on.
HOW
WE
GOT
HERE

43. THE
IMPORTANCE
OF
DIVERSITY

44. 54
MEMBERS
9
COUNTIES
PERCENTAGE
REGIONAL
POPULATION
2014
CURRENT
MEMBERSHIP
Source:
U.S.
Census,
Southwest
Michigan
First
48%
34%
17%
20%
7%
9%
4%
7%
2%
5%
4%
.
9%
8%
17%
9%
OTHER
COUNTIES
OUR
BOARD’S
GEOGRAPHIC
&
ECONOMIC
DIVERSITY
$3.83
billion
ANNUAL
REGIONAL
SALARIES
450,997
GLOBAL
WORKFORCE
34,063
REGIONAL
EMPLOYEES

46. BUILDING
A
CULTURE
OF
RESPONSIBILITY

47. BUILDING
A
CULTURE
OF
RESPONSIBILITY
REQUIRES
Commitment
Consistency
Communica0on
√
√
√

48. ESTABLISH
A
SYSTEM
THAT
WORKS
FOR
YOU

49. KEEP SCORE

50. REGIONAL
SCORECARD

51. MEASURING
THE
REGION

52. BUSINESS
GROWTH

53. VITAL
URBAN
CORES

54. EDUCATION

55. LOCAL
GOVERNMENT

56. MEASURING
RELATIONSHIPS

57. RELATIONSHIPS

58. COMMUNITY
&
QUALITY
OF
LIFE
MEASURING

59. COMMUNITY
&
QUALITY
OF
LIFE

60. Tim
Terren0ne
#m@consultantconnect.org
269.553.9588
@#mterren#ne
www.consultantconnect.org
www.southwestmichiganfirst.com
HOW
TO
CONTACT
ME

61. Question for Tim:
What's the conversation like with your board when you are
behind with your metrics?

62. Question for Tim:
Why did you initiate a metrics program in the first place?

63. Get the report:
http://atlas-advertising.com/Home/Download-our-white-
paper.aspx
Take the survey
to participate:
http://atlas-advertising.com/Community-Benchmarking-
Study.aspx "

64. Questions

65. Thank you!
Contact information:
Guillermo Mazier
303.292.3300 x 232
929 Broadway
Denver, CO 80203
Guillermom@Atlas-Advertising.com
www.Atlas-Advertising.com
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