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NEDA Conference 2013 Branding for Resilient Communities
 

NEDA Conference 2013 Branding for Resilient Communities

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From NEDA 2013 n Plenary Session – Building a Resilient Economy: Marketing and Communications; Branding and Marketing Panel - Is Resilience the Next Economic Brand?; ...

From NEDA 2013 n Plenary Session – Building a Resilient Economy: Marketing and Communications; Branding and Marketing Panel - Is Resilience the Next Economic Brand?;
and New Methods in Marketing

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    NEDA Conference 2013 Branding for Resilient Communities NEDA Conference 2013 Branding for Resilient Communities Presentation Transcript

    • 1 How High Performance Economic Development Marketing Drives Economic Resiliency ‘Changing the Debate About Whether or not Economic Development Makes a Difference’ NEDA 2013 Annual Conference
    • 2 We are Atlas Advertising And we do things like this…
    • 3
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    • 5 Tucson concepting
    • 6
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    • 11 Screen shot of Jobs Ohio Promotion of Atlas developed GIS mapping tool, easily view able on IPad devices
    • 12 That lead to things like…
    • 13 “If I thought for a minute that I could get the same product in the end, even for a higher price, by going local, I would have done it,” Downs said last week. “I have no interest in sending money away to Denver except to get the best product.” -Timothy Downs, CEO City of Dayton Office of Economic Development
    • 14
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    • 17 All because…
    • 18 We Believe Economic Development Makes a Difference! Our Goal: To Create Vital Communities Our process, knowledge and background enables us to take a comprehensive approach to economic development marketing and attraction. Featured Clients:
    • 19 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? 3. How can we implement high performing marketing programs in our own communities, as a tool to drive economic resiliency?
    • 20 A few principles that drive (or should drive) economic development
    • 21 What worked 20-50 years ago is not the same as what works today.
    • 22 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.
    • 23 What has changed: The ways we start conversations have changed forever.
    • 24 A simple framework to help define success:
    • 25 The Framework and How it Relates to NEDA Members 1. Getting buy-in on a few key goals. Push hard to track the following: a. Awareness: Website visits b. Conversations / inquiry c. Jobs Announced d. Capital Investment Announced 2. Implement strategies and technology platforms that drives those goals.
    • 26 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
    • 27 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
    • 28 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
    • 29 Highs and Lows: Some EDO’s and communities outperform others Budget Level LOW JOBS ANNOUNCED HIGH JOBS ANNOUNCED LOW CAPITAL INVESTMENT ANNOUNCED HIGH CAPITAL INVESTMENT ANNOUNCED LOW INQUIRIE S HIGH INQUIRIES 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
    • 30 Can the Northeastern United States Compete?
    • 31 Yes. The organization that has had more conversations with companies than any other over the past 12 months is: State of CT Department of Economic & Community Development!
    • 32 How Communities are Performing Using This Model The first cut at the data gave us an overall baseline for the performance of the average participating EDO: The average community gets: 24,635 visits to their website per year or 2,053 per month or 474 per week or roughly 103 per working day The average community announced: 1,319 jobs in the last 12 months or 109 per month or 25.3 per week or 5 per day The average community announces: $202,805,022 in capital investment per year or $16.9 million per month or $3.9 million per week or $780,000 per day The average community generates: 143 conversations per year or 12 per month or 3 per week or 1 every other working day
    • 33 How can we implement High Performance Marketing Programs in our own communities, as a tool to drive economic resiliency?
    • 34 So what should we be focusing on? • Attracting and retaining firms? • Attracting and retaining top flight workforce, including freelancers? • Attracting and retaining entrepreneurs?
    • 35 What does marketing look like for attracting firms?
    • 36 What does marketing look like for attracting workforce?
    • 37 What does marketing look like for attracting workforce?
    • 38 What does marketing look like for attracting entrepreneurs?
    • 39 Is your community prepared to be relevant in the following? • Attracting and retaining firms? • Attracting and retaining top flight workforce, including freelancers? • Attracting and retaining entrepreneurs?
    • 40 We are not sure EDO’s should be choosing one path.
    • 41 Putting High Performance Into Practice: The Steps 1. Benchmark your community – get a baseline. 2. Cut through the clutter: Set goals and Plan for Performance with your board and stakeholders. – Website visits – Inquiries / Conversations – Jobs Announced – Capital Investment Announced 3. Implement the basics, plus additional tactics that your organization can support. 4. Adjust to improve your execution. 5. Report out and celebrate your results.
    • 42 Plan for Performance. 1. Get buy in from your leadership and stakeholders on a few key goals. Push hard to track the following: a. Awareness: Website visits b. Conversations / inquiry c. Jobs Announced d. Capital Investment Announced 2. Set a marketing plan that drives those goals.
    • 43 Thank you! Contact information: 1128 Grant St 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