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Marketing and Attracting, TN Basic Economic Development Course 2013

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Janet Miller, CEcD & Jeff Hite
Nashville Area Chamber of Comm.
G.C. Hixson, CEcD
Joint Economic & Community
Development Board of Wilson
County

Published in: Education, Business, Real Estate
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Marketing and Attracting, TN Basic Economic Development Course 2013

  1. 1. Marketing Strategies ToBreak Through the ClutterGC Hixson, CEcD, Janet Miller, CEcD, Jeff Hite
  2. 2. US City Slogans: (These are for Real)• What happens here, stays here. Las Vegas.• The aliens aren’t the only reason to visit. Roswell, NM.• Where horses have the right of way. McKinleyville, CA.• It’s not the end of the earth, but you can see it from here. Bushnell, SD.• Where the people are warm even when the weather isn’t. Andover, KS.• Live large. Think big. Dallas, TX.• Get ‘Er Done. Havre, MT.• Cleveland Rocks.• Rare. Well done. Omaha, NB.• Music City. Nashville.Source: Tagline guru.com
  3. 3. Executive Summary• Marketing Defined• Research• Target Audiences• The Importance of Brand• Marketing Methods that Work• The Importance of Measuring
  4. 4. • Attract, retain & expand businesses• Improve a community’s image• Promote policies & programs• Attract & retain a competitive labor forceMarketing Helps To……
  5. 5. The ECD Marketing Funnel
  6. 6. 6Business Development StrategyConditioningthe MarketConditioningthe ClientConditioningtheDealOpening Game• Market Analysis• Resource Analysis• Strategic Planning• Business Planning• Account Planning• Branding/ImageManagementMiddle Game• Initial Contact• RelationshipManagement• Perception/BrandingManagement• Information Management• Opportunity Management• Pursuit Management• Capture ManagementEnd Game• ProposalManagement• Next StepsContractRFPAwardSource: TVA, ECD
  7. 7. Research FIRST, Not LAST
  8. 8. Prioritize YourTarget Audiences
  9. 9. • Existing pipeline of prospects – relocations & expansions• Targeted marketing to top 200 relocation consultants in America84% of relocations to Metros historically represented by these firms• National and regional mediaBusiness publications, industry trades for target sectors, general business• Local business leaders and opinion leadersGetting the talk on the street right• Proactive pursuit of relocations in five sectorsHQs, health care, music/entertainment, advanced manufacturing, logisticsTarget Audiences (in priority order)
  10. 10. Great Brands Include…Functional &Emotional BenefitsNashville’s Brand:• Creative, Risk-Taking• All Communications Reflect It
  11. 11. Be Readyfor the ProspectBEFORE youspend the first $on outwardmarketing
  12. 12. www.nashvilleareainfo.com
  13. 13. www.doingbiz.org
  14. 14. Community Profile Brochures: Electronic and Print
  15. 15. Target Industry Brochures
  16. 16. RFI Template
  17. 17. Marketing MethodsThat Work
  18. 18. spend 10% of their budget on marketinghave a median marketing budget of $70,000population size≤250kData: Economic Development Marketing: Present and Future,Anatalio Ubalde and Eric Simundza, 2008Marketing Spending
  19. 19. spend 11%+ of their budget on marketinghave a median marketing budget of $300,000population size>250kData: Economic Development Marketing: Present and Future,Anatalio Ubalde and Eric Simundza, 2008Marketing Spending
  20. 20. Nashville Ranked #3 Next Big BoomNashville Ranked #6 Best Placefor Business & CareerNashville Ranked #3 of Top 10Best Value Cities for 2011Nashville Chamber named 4th BestRegional ECD Group in AmericaNashville Ranked #1:Music Scene in America#1 Manliest City in AmericaNashville in the News
  21. 21. Nashville in the News
  22. 22. Wilson County Feature in Site Selection Magazine
  23. 23. Direct Mail Newsletters
  24. 24. Electronic E-Newsletters
  25. 25. Direct Mail
  26. 26. Out of Market – Planned Visits WithCorporate Executives
  27. 27. Out of Market – Planned Visits WithCorporate Executives
  28. 28. Special Events
  29. 29. • Strategy– Create organizational presence– Supplement to existing methods; becoming PRIMARY tool for most,particularly with small budgets– Serve as independent news publisher/information center– Be careful…….easy to violate business / personal lines• Goals: Set Measures before you launch if possible– Attract 500 followers on Twitter– Attract 500 fans on Facebook– Generate 250 visits per month to web site– Communicate consistently & frequentlySocial Media
  30. 30. Social Media
  31. 31. Social Media
  32. 32. • “Dialogue with industry peers” is the number oneinfluencer on corporate decision makers on futurefacility locations• Building strong relationships with local leaders is key:leverage their out-of-market relationships (alumninetworks, suppliers, vendors, etc.)• Peer to Peer marketing examples– Louisiana Pacific HQ example– Oreck HQ examplePeer to Peer Marketing
  33. 33. The Importance ofMeasuring in EconomicDevelopment
  34. 34. Type of Operation ProjectNumbersInvestment Square Footage New EmployeesDistribution 6 $130,500,000 2,375,000 1,049HQ 10 $108,660,000 903,000 2,520Back Office 11 $146,600,000 1,218,000 5,495Manufacturing 4 $478,000,000 1,950,000 2,240Other 6 $284,830,000 383,000 1,740Total 31 $863,760,000 6,446,000 11,304Metrics
  35. 35. Objectives2008-2009Goal2008-2009Actual3 YearGoal3 YearActual% of 3Year Goal1) Employment Growth of 1.5% per yearin the region11,500 - 14,733 34,500 9,895 28.7%2) Maintain average unemployment ratesbelow 5% each year< 5% 7.4% 5.3%3) Population growth of 2% per year in theregion33,410 30,485 97,763 111,145 113.7%4) Increase per capita personal income ata rate that exceeds the CPI index by 0.5%$1,663 $414 $4,261 $3,330 78%Metrics
  36. 36. Marketing Strategies ToBreak Through the ClutterGC Hixson, CEcD, Janet Miller, CEcD, Jeff Hite

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