1. ““Marketing Your CommunityMarketing Your Community
AndAnd
Managing ProspectsManaging Prospects””
NYS Basic Economic Development CourseNYS Basic Economic Development Course
Tuesday, June 24, 2013Tuesday, June 24, 2013
1:00 – 3:00 P.M.1:00 – 3:00 P.M.
CESTM - University at AlbanyCESTM - University at Albany
2. Marketing and SalesMarketing and Sales
What is marketing?What is marketing?
The process of planning and executingThe process of planning and executing
the conception, pricing, promotion, andthe conception, pricing, promotion, and
distribution of ideas, goods, anddistribution of ideas, goods, and
services to create exchanges thatservices to create exchanges that
satisfy individual and organizationalsatisfy individual and organizational
goals.goals.
3. Marketing and SalesMarketing and Sales
What is marketing?What is marketing?
The process of identifying and communicatingThe process of identifying and communicating
with qualified prospectswith qualified prospects
The ability to gain interest in your product orThe ability to gain interest in your product or
service from the customerservice from the customer
What is sales?What is sales?
The ability to deliver what the customer wantsThe ability to deliver what the customer wants
4. Marketing And SalesMarketing And Sales
The Marketing Planning ProcessThe Marketing Planning Process
Start with a StrategyStart with a Strategy
Strategy Encourages GrowthStrategy Encourages Growth
Budget Limits GrowthBudget Limits Growth
Budget Says “Can’t do it”Budget Says “Can’t do it”
Strategy Says “Do it or fail”Strategy Says “Do it or fail”
5. Example of a County Marketing StrategyExample of a County Marketing Strategy
1. Retain existing employers
2. Prepare communities for growth
3. Develop “Shovel-Ready” sites
4. Create global awareness of the County and
Region
5. Capitalize on opportunities created by growing
industries in the County and Region
6. Attract firms from targeted industry sectors
and suppliers
6. Create a Marketing PlanCreate a Marketing Plan
ED Marketing Expert Eric Canada SaysED Marketing Expert Eric Canada Says
““After building and implementing dozens ofAfter building and implementing dozens of
marketing plans, it has become clear that theremarketing plans, it has become clear that there
are two critical elements; it must be simple and itare two critical elements; it must be simple and it
must address points of challenge”.must address points of challenge”.
““Marketing is not about how much money you haveMarketing is not about how much money you have
to spend. It is about how you spend the moneyto spend. It is about how you spend the money
you have”.you have”.
9. Create a Marketing PlanCreate a Marketing Plan
The plan should be based on your strategyThe plan should be based on your strategy
From 65 to 80% of all new jobs come fromFrom 65 to 80% of all new jobs come from
existing business expansionsexisting business expansions
Don’t hold back on the researchDon’t hold back on the research
Be realistic about your targetsBe realistic about your targets
Be objective about your community’sBe objective about your community’s
advantages and disadvantagesadvantages and disadvantages
Your materials must be high qualityYour materials must be high quality
Identify a Unique Selling Proposition!Identify a Unique Selling Proposition!
Define Success before you begin!Define Success before you begin!
10. Developing the BudgetDeveloping the Budget
Major Expense ItemsMajor Expense Items
• What can you accomplish using in-houseWhat can you accomplish using in-house
resources, board members or strategicresources, board members or strategic
allies?allies?
• What needs to be contracted out?What needs to be contracted out?
• How do you raise the money you need?How do you raise the money you need?
11. Developing the BudgetDeveloping the Budget
Funding your Marketing ProgramFunding your Marketing Program
• Annual Outreach to Local Businesses thatAnnual Outreach to Local Businesses that
benefit from Economic Developmentbenefit from Economic Development
• Local Government (if elected officials are readyLocal Government (if elected officials are ready
to accept that marketing does not alwaysto accept that marketing does not always
produce immediate ribbon-cuttings)produce immediate ribbon-cuttings)
• Grant Programs – State, Utilities, otherGrant Programs – State, Utilities, other
12. Implementing Your PlanImplementing Your Plan
Getting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use
AdvertisingAdvertising
13. Implementing Your PlanImplementing Your Plan
Getting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use
Public RelationsPublic Relations
Speaking at conferences
Winning industry awards
Working with the press
Employee communication
14. Implementing Your PlanImplementing Your Plan
Getting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use
Public RelationsPublic Relations
17. Implementing Your PlanImplementing Your Plan
Web SitesWeb Sites
Site selectors should find it easy to locate contact information andSite selectors should find it easy to locate contact information and
relevant content on your site through user-friendly navigation, siterelevant content on your site through user-friendly navigation, site
search and inter-site linking.search and inter-site linking.
Your website must offer information and data that is directlyYour website must offer information and data that is directly
pertinent to someone interested in locating their business in yourpertinent to someone interested in locating their business in your
municipality.municipality.
This includes information about your primary industry sectors, theThis includes information about your primary industry sectors, the
cost of doing business, work force data, proximity to highways andcost of doing business, work force data, proximity to highways and
local success stories.local success stories.
Think like a site selector – what data would they be seeking?Think like a site selector – what data would they be seeking?
A great sites and buildings database, with GIS is a must.A great sites and buildings database, with GIS is a must.
The website should encourage two-way communication andThe website should encourage two-way communication and
integrate social media.integrate social media. Incorporate interactive features such as blogs,Incorporate interactive features such as blogs,
videos, cost calculators, polls and surveys to encourage visitorvideos, cost calculators, polls and surveys to encourage visitor
participation.participation.
26. Marketing And SalesMarketing And Sales
When Marketing Your County - Think Regionally!When Marketing Your County - Think Regionally!
27. Other/MiscellaneousOther/Miscellaneous
Key Words and Tagging for Search EnginesKey Words and Tagging for Search Engines
• GoogleGoogle
• YahooYahoo
• BingBing
Fully integrate GIS into your web siteFully integrate GIS into your web site
• Fast GISFast GIS http://www.fastgis.biz/http://www.fastgis.biz/
• RoltaRolta http://www.rolta.comhttp://www.rolta.com
• Zoom ProspectorZoom Prospector http://www.zoomprospector.com/http://www.zoomprospector.com/
• ESRIESRI http://www.esri.com/http://www.esri.com/
iPads for Site Selection & Economic DevelopmentiPads for Site Selection & Economic Development
• Duke Energy gives iPads to economic development officialsDuke Energy gives iPads to economic development officials
http://www.journal-news.com/news/hamilton-news/duke-energy-giveshttp://www.journal-news.com/news/hamilton-news/duke-energy-gives
• iPad for Economic Development – Top Twenty-Five AppsiPad for Economic Development – Top Twenty-Five Apps
http://whittakerassociates.com/ipad-for-economic-development-top-twhttp://whittakerassociates.com/ipad-for-economic-development-top-tw
28. The Latest TrendsThe Latest Trends
Social MediaSocial Media
Establish Goals and Policies
Set up accounts
Build profiles consistent with other
marketing materials
Build an audience
Keep open forums for membership and
discussion
Add and control content
29. The Latest TrendsThe Latest Trends
Social MediaSocial Media
Promote your area and stakeholders.Promote your area and stakeholders.
Keep content focused and in line with your mission.Keep content focused and in line with your mission.
30. The Latest TrendsThe Latest Trends
Social MediaSocial Media
Be careful not to over
editorialize.
Define your value but
keep it simple.
Only post what is
relevant to your
mission
Follow local and national news
Post positive stories relevant to your
community, organization and/or mission
Post news about local employers or
stakeholders
Disseminate info about activities and
special events that impact your business
community.
Develop ContentDevelop Content
31. Social MediaSocial Media
Your social media activities should be part of
your communications plan
Third party content is trusted more than press
releases.
Be a source of stories for your local and
regional media. You know good story angles.
Obviously, you never compromise client
confidentiality.
Mainstream Media RelationsMainstream Media Relations
Reporters use twitter. Follow local reporters and newsReporters use twitter. Follow local reporters and news
outlets. Re-tweet their stories. They will notice.outlets. Re-tweet their stories. They will notice.
32. Social MediaSocial Media
World’s Largest Professional Network
Over 100 million members - a new member joins LinkedIn every
second.
Almost 12 million unique visitors visit LinkedIn every day
Executives from all Fortune 500 companies.
Of LinkedIn’s 60 million users, half are from outside US.
80% companies use LinkedIn as their primary recruitment tool.
33. Social MediaSocial Media
Start a LinkedIn group
Establish a loyal following
Groups are easy to manage
Groups are great distribution channels
When you add content, Linkedin distributes it via email to
everyone in the group.
B2B connections and community awareness
Become a trusted source of information and quality discussion
34. Social MediaSocial Media
World’s Largest Social Networking Site
Over 500 million active users
50% active users log in every day
More than 70 translations available on the site
About 70% of Facebook users are outside the
United States
35. Social MediaSocial Media
Become a trusted source of news
and information
Focus messages by using
#Hashtags
Get breaking news
Live tweeting on subject matter
Get re-tweeted and get attention
from stakeholders and targets
Easily searchable by keyword
36. Social MediaSocial Media
Designate someone to maintain
social media presence
Make it part of your day
Search for content or have it
come to you through google
alerts
Managing Social Media
37. Should I Sell or Market?Should I Sell or Market?
Market or Sell?Market or Sell?
Are we collecting leads or trying toAre we collecting leads or trying to
attract investment and jobs to ourattract investment and jobs to our
communities?communities?
Work the leads and prospects that youWork the leads and prospects that you
have, while you work on thehave, while you work on the
prospects you hope to have!prospects you hope to have!
38. Marketing And SalesMarketing And Sales
““Prepared Communities Win”Prepared Communities Win”
Mark SweeneyMark Sweeney
McCallum Sweeney ConsultingMcCallum Sweeney Consulting
39. Prepared Communities WinPrepared Communities Win
Site Location Studies are Shorter and Shorter
They use Technology and Data Bases
They are Market Driven & Cost Driven
They seek Existing Facilities & Infrastructure
Decision Making is Much Faster
41. Part IIPart II Lead and Prospect ManagementLead and Prospect Management
Your Marketing Plan is Producing ContactsYour Marketing Plan is Producing Contacts
Are You Prepared??????Are You Prepared??????
42. Part IIPart II Lead and Prospect ManagementLead and Prospect Management
Turning Leads into ProspectsTurning Leads into Prospects
• Recognize a “Good Lead” and follow-upRecognize a “Good Lead” and follow-up
• Recognize a “Bad Lead” and follow-upRecognize a “Bad Lead” and follow-up
ALWAYS FOLLOW-UP AND REMEMBER TO CYAALWAYS FOLLOW-UP AND REMEMBER TO CYA
43. Lead and Prospect ManagementLead and Prospect Management
Site Selection is a Process of EliminationSite Selection is a Process of Elimination
• Your job is to keep your community in theYour job is to keep your community in the
competitioncompetition
• Ask questionsAsk questions
• Credibility is something that is earnedCredibility is something that is earned
• Don’t assume anythingDon’t assume anything
• Confidentiality is a mustConfidentiality is a must
• A breach could end the gameA breach could end the game
44. Prospect ManagementProspect Management
Prepared Communities WinPrepared Communities Win
• Know Your ProspectKnow Your Prospect
Why are they expanding or relocating?Why are they expanding or relocating?
What are the decision drivers?What are the decision drivers?
What is their organizational structure andWhat is their organizational structure and
culture?culture?
What products or services do they provide?What products or services do they provide?
Who are their main suppliers and where areWho are their main suppliers and where are
their largest markets?their largest markets?
45. Prepared Communities WinPrepared Communities Win
According to Area Development Magazine’s Annual
Survey:
78% of companies performing a site search begin
by looking for an existing facility.
Of the 78% of companies looking for an existing
building, only about one in four find one that suits
their needs.
So, you must also have a great site or sites!!
46. Prospect ManagementProspect Management
Prepared Communities WinPrepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For Manufacturing:For Manufacturing:
• Infrastructure – Water, sewer, powerInfrastructure – Water, sewer, power
• Ready-to-go sites – “Shovel-Ready” is the standardReady-to-go sites – “Shovel-Ready” is the standard
• Logistics – access to markets via highway, rail, airLogistics – access to markets via highway, rail, air
• Skilled workers – availability, skills, vocationalSkilled workers – availability, skills, vocational
trainingtraining
47. Prospect ManagementProspect Management
Prepared Communities WinPrepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For Big Box Distribution CentersFor Big Box Distribution Centers
• Large Sites – 2,100’ x 2,800’ or 2,400’ x 2,800’Large Sites – 2,100’ x 2,800’ or 2,400’ x 2,800’
(this is changing)(this is changing)
• Logistics – access to markets via highwayLogistics – access to markets via highway
• Infrastructure – Water, sewer, powerInfrastructure – Water, sewer, power
• Workers – availabilityWorkers – availability
48. Prospect ManagementProspect Management
Prepared Communities WinPrepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For Customer Service CentersFor Customer Service Centers
• Available spaceAvailable space
with telecom, reliable power, open floor planwith telecom, reliable power, open floor plan
• Available, trainable work forceAvailable, trainable work force
Concentration of customer contact centersConcentration of customer contact centers
Two and four year collegesTwo and four year colleges
Work ethic and service cultureWork ethic and service culture
49. Prospect ManagementProspect Management
Prepared Communities WinPrepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For Data CentersFor Data Centers
Conflicting Requirements and Few JobsConflicting Requirements and Few Jobs
• InfrastructureInfrastructure
Heavy, reliable power, fiber/telecomHeavy, reliable power, fiber/telecom
• Remote LocationRemote Location
Proximity to a potential hazard is a deal–killerProximity to a potential hazard is a deal–killer
No rail, airports, highways nearby; No gas lines,No rail, airports, highways nearby; No gas lines,
environmental issues, etc.environmental issues, etc.
50. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
Know Your CompetitionKnow Your Competition
• Identify Other Communities on the Short ListIdentify Other Communities on the Short List
• Assess their Advantages and DisadvantagesAssess their Advantages and Disadvantages
• Enhance Your Position, if Possible.Enhance Your Position, if Possible.
• Be Respectful of your CompetitionBe Respectful of your Competition
• Emphasize your Community’s StrengthsEmphasize your Community’s Strengths
51. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
Working with Site Location ConsultantsWorking with Site Location Consultants
Companies Hire Consultants for DifferentCompanies Hire Consultants for Different
Reasons and Sometimes for DifferentReasons and Sometimes for Different
Sections of the Location and/or SiteSections of the Location and/or Site
SearchSearch
52. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
Working with Site Location ConsultantsWorking with Site Location Consultants
• Anyone Can Call Themselves a ConsultantAnyone Can Call Themselves a Consultant
• Qualify the Consultant as you would Qualify aQualify the Consultant as you would Qualify a
Suspect or LeadSuspect or Lead
• Be ResponsiveBe Responsive
53. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
Working with Site Location ConsultantsWorking with Site Location Consultants
• The RFI - Answer the Questions!The RFI - Answer the Questions!
Don’t respond with brochuresDon’t respond with brochures
• Meet Their DeadlinesMeet Their Deadlines
No matter how challengingNo matter how challenging
They are usually realThey are usually real
• Follow-up and Establish a RelationshipFollow-up and Establish a Relationship
• Be an “Expert Intermediary”Be an “Expert Intermediary”
54. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
The visit:The visit:
• Work with the prospect or consultant on theWork with the prospect or consultant on the
itinerary and don’t deviate from it (unless theyitinerary and don’t deviate from it (unless they
request it)request it)
• Assemble and coach your teamAssemble and coach your team
• Include only necessary players (Include only necessary players (if you can help itif you can help it))
• Practice, Practice, PracticePractice, Practice, Practice (do a dry run)(do a dry run)
• Be efficient – Communicate; don’t guessBe efficient – Communicate; don’t guess
• Leverage Required ResourcesLeverage Required Resources
• No Surprises!No Surprises!
55. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
The presentation during the visit:The presentation during the visit:
• Keep it focused on the vital information thatKeep it focused on the vital information that
the prospect or consultant requiresthe prospect or consultant requires
• Leverage required resourcesLeverage required resources
• ““Practice, Practice, Practice”Practice, Practice, Practice”
• Don’t Blow It – If you are not a goodDon’t Blow It – If you are not a good
presenter, use a board member or allypresenter, use a board member or ally
56. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
The site tour:The site tour:
• Assemble your team - The expertsAssemble your team - The experts mustmust
be presentbe present
• Now is the time to sellNow is the time to sell
• Try to have all the answers, but don’tTry to have all the answers, but don’t
guess. If in doubt just say, “I don’tguess. If in doubt just say, “I don’t
know, I will get you that information”know, I will get you that information”
• Know the sites well – don’t stumbleKnow the sites well – don’t stumble
57. Prospect ManagementProspect Management
Maintain ConfidentialityMaintain Confidentiality
The follow-up after the visit:The follow-up after the visit:
• Promptly address all issues raisedPromptly address all issues raised
• Promptly respond to all new informationPromptly respond to all new information
requestsrequests
• Make final incentive offer (if required)Make final incentive offer (if required)
• Maintain confidentialityMaintain confidentiality
58. Prospect ManagementProspect Management
Finally You Don’t Have to Maintain ConfidentialityFinally You Don’t Have to Maintain Confidentiality
The announcement:The announcement:
• Managing the announcement if you winManaging the announcement if you win
• Managing the announcement if you loseManaging the announcement if you lose
• Conducting the exit interviewConducting the exit interview
• Maintain a database of vital informationMaintain a database of vital information
about wins and lossesabout wins and losses
60. Contact InformationContact Information
Joseph D. RussoJoseph D. Russo
National GridNational Grid
Economic Development & Corporate CitizenshipEconomic Development & Corporate Citizenship
300 Erie Boulevard West300 Erie Boulevard West
Syracuse, NY 13202Syracuse, NY 13202
(315) 428-6798(315) 428-6798
Fax: (315) 460-8814Fax: (315) 460-8814
Joseph.Russo@nationalgrid.comJoseph.Russo@nationalgrid.com
Connect with me on Twitter (@EDNationalGrid), Facebook,Connect with me on Twitter (@EDNationalGrid), Facebook,
YouTube, LinkedIn, Google+ and Instagram (ngridjdr)YouTube, LinkedIn, Google+ and Instagram (ngridjdr)
Here is another, more convoluted definition. It looks like a committee created it. Is this good communication?
I like this one! It is succinct. Good communication should be direct, using as few words as possible. People tend to confuse marketing and sales.
Yesterday I talked about strategies, tactics and tools. Starting with a strategy is critical to creating a marketing plan.
Here is an example of a County Economic Development Marketing Strategy.
Eric Canada is an economic development consultant who, I think, has a real sense of what great economic development marketing is. Eric is originally from Rome, NY. He is a partner of Blane, Canada Ltd. His bio is here - http://www.blanecanada.com/bio_ericcanada.html
I hope this is a helpful take-away. You can find more on the Blane Canada website at http://www.blanecanada.com/consultingmain.html.
What is a Communications Plan?
A communication plan is a written document that describes what you want to accomplish with your communications (your objectives).
ways in which those objectives can be accomplished (your goals or program of work),
to whom your association communications will be addressed (your audiences),
how you will accomplish your objectives (the tools and timetable), and
how you will measure the results of your program (evaluation).
Communications include all written, spoken, and electronic interaction with association audiences. A communication plan encompasses objectives, goals, and tools for all communications, including but not limited to:
periodic print publications;
online communications;
meeting and conference materials;
media relations and public relations materials;
marketing and sales tools;
legal and legislative documents;
incoming communications, including reception procedures and voice mail content;
committee and board communiques;
corporate identity materials, including letterhead, logo, and envelopes; surveys; certificates and awards; annual reports; signage; speeches; and invoices.
Tips for creating your marketing plan. Without a unique selling proposition, you are just making the same noise as everyone else. If you do not define success, others will…and you may not like their definition.
One of the biggest excuses for not marketing enough is lack of funds. If you are not marketing, you are not practicing economic development, so figure out how to raise the funds needed and leverage in-kind resources from allies and stakeholders. Never just wait for the phone to ring. It probably won’t.
The most common fundraising method by County-based EDOs is annual outreach to business stakeholders. This should be used as a base to leverage other sources. Aggressive EDOs augment this with golf tournaments, annual meetings and other activities that bring people together. National Grid and other utilities can be counted on for matching grants and other marketing resources.
Advertising is expensive. Groups advertise to raise awareness or change people’s impression of their area. Ads do not to produce leads for investment. One or two ads, even if they are great, have little or no impact. Advertising is effective in campaigns; multiple ads in multiple publications or media can be effective in influencing or impacting large groups of decision-makers. For business attraction, advertising campaigns should be left to the state and regional groups. The Start-up NY ads are ubiquitous and criticized by some, but they are certainly effective in raising awareness. County-based EDOs can use advertising locally to garner support for their mission or projects.
This article in the Financial Times was the result of work by consultant, Development Counselors International. DCI is the only public relations consulting firm that specializes in marketing places by placing stories in national and international media. Articles and news stories have a great deal of credibility, a good deal more than advertisements, which most consumers know are propaganda. However, playing the media game can be a double-edged sword. Reporters can write about the positive aspects of a project or region, or the negative aspects; or both.
This article in the Financial Times was the result of work by consultant, Development Counselors International. DCI is the only public relations consulting firm that specializes in marketing places by placing stories in national and international media. Articles and news stories have a great deal of credibility, a good deal more than advertisements, which most consumers know are propaganda. However, playing the media game can be a double-edged sword. Reporters can write about the positive aspects of a project or region, or the negative aspects; or both.
Saratoga County and the Capital Region attracted a great deal of national and international media attention, with the GlobalFoundries project. The Saratoga EDC also used a consultant to get stories placed about their region. It would have been a mistake for Saratoga County and the Capital Region to sit back and wait for the media to fawn over their story, after GlobalFoundries broke ground. They aggressively pursued stories in the media. It is nice to have something like GlobalFoundiries to promote, but every region has attributes that can be featured in the media. It takes a strategy and a concentrated effort to realize public relations success in economic development.
Your website is your most important marketing tool, in my opinion. If you want to be a great economic development marketing organization, you must have a great website.
This slide speaks for itself. My advice is to use a website developer who specializes in economic development sites. Economic development marketing and sales is unique. One does not market states, regions, communities and places the same way one market consumer goods or B2B products and services.
I used to do an electronic newsletter titled SiteLines, but I do not have the time to continue it. It was not in my work plan. I did it when I had time. With the rise of social media, it seems to be more efficient to fill available time by posting on LinkedIn and Facebook and tweeting stories out on Twitter. Blogs are also time-consuming. If I were directing an local or regional economic development organization and had a Director of Marketing, I would have a newsletter of blog in their work plan.
Trade shows are high cost and often low value. This is why regional groups pitch in to share the cost. The Capital Region, Mohawk Valley and Genesee regions, under the NY Loves Nanotech banner, have used trade shows effectively as a part of their overall marketing strategy aimed at the nano-electronics industry.
Videos must be of high quality. Buffalo Niagara Enterprise and Hudson Valley EDC have produced highly effective videos, as has Saratoga EDC. They can be found on YouTube, Vimeo and their websites.
Direct mail is not used much anymore, but can still be an effective low-cost way to raise awareness and get responses. Unlike the uncreative postcard in this slide, your message and call to action must interesting and impactful.
I have found networking at special events or membership functions to be an effective way to meet important decision-makers and establish relationships with them. The Industrial Asset Management Council is made up of corporate real estate (CRE) executives from Fortune industrial 500 firms, economic development organizations (EDOs) and real estate service providers, including site location consultants. For the past ten years, New York State has sent a team to the two Forums help by this group each year. We have built relationships, which have led to leads and investment opportunities for New York State. This past April we heard much from members of this group about a certain marketing program called Start-Up NY (you may have heard of it). It is certainly making an impression around the country.
For the past 15 years, the Capital Region has been reaching out to the semiconductor industry through a variety of channels. The Semiconductor Industry Association Annual Awards Dinner in san Jose, CA is one of those channels. The region, under the banner of NY Loves Nanotech, has sponsored the dinner for the past decade or more. The Mohawk Valley, Hudson Valley and Genesee regions have joined the effort because each hosts or wants to host the industry (IBM and other SIA members reside in the Hudson Valley. The Mohawk Valley (Marcy Nanocenter) and Genesee (WNY STAMP Site) regions are preparing mega-sites for semiconductor fabs.
The larger the association, the larger the event! We used to send a large team to semi-annual CoreNet Global summits. CoreNet Global is a global organization made up of corporate real estate executives, economic development organizations and real estate service providers, including site location consultants (including lots of RE brokers and agents). CoreNet has over 2,500 members around the world. The two summits they host in the U.S. each year are so large, they can only be held in massive convention centers, typically found in Las Vegas, Orlando, San Diego and other major convention cities. When the Empire Zone Program was New York State’s flagship incentive and marketing program, our team was named The Empire Team. It was difficult to build relationships that produces results, so we shifted our emphasis to the Industrial Asset Management Council and discontinued our involvement in CoreNet. I am still a CoreNet member because I find value in access to the CoreNet membership directory.
In 2006, Empire State Development, National Grid and several regional economic development marketing groups collaborated on a marketing initiative aimed at New Jersey companies whose taxes had risen due to the closing of “loopholes” on businesses. Our strategy was to determine which companies were most adversely affected and meet with them to discuss the advantages of investing in New York State, especially in light of the substantial benefits of the Empire Zone program. We interviewed consulting firms who specialize in researching and contacting the industries we had targeted; then setting up meetings with decision-makers at those firms. Economic development organizations, no matter how resourceful, do not possess the personnel, skills and capacity to affordably accomplish this outcome. It should be purchased. We hired 310, LTD, a Virginia-based firm that, according to their website, “evolved best practice applications in research and forged direct access to the perspectives of senior corporate executives”. They set up meetings with New Jersey firms like Celgene, ADP and Catelli Meats; ten in all, over a six month period. The effectiveness of 310, LTD’s research was proven out at each meeting. The NJ companies’ interest in our value proposition was intense. Follow-up resulted in an upstate NY investment by Catelli Meats and a site visit by a second firm, all for the cost of three, full page ads in a real estate publication. Unfortunately, the initiative was discontinued due to the end of the Pataki administration and changes at Empire State Development.
Last year, ESD’s Vice President of Strategic Business, Jeff Janiszewski convinced the powers-that-be in New York State’s economic development hierarchy to invest in marketing again. The State’s desire to market the Start-Up NY program contributed to the approval of a budget for marketing, which included the same type of strategy to make direct contact with targeted industries and firms to pitch New York State advantages. This time the targets were growing U.S. and Canadian firms in the following industry sectors; life sciences, nanotechnology, optics & imaging, food and beverage processing, renewable energy, advanced materials processing, transportation equipment and financial services. ESD reached out to National Grid and NYSEG/RG&E who matched 75% of the State’s investment. Regional and local groups pitched in the other 25%, including BNE, CEG, MV EDGE, Drum Country Business, STEG, Steuben County and Suffolk County IDAs. Several consulting firms were interviewed and 310, LTD was selected again. The one-year program kicked off in October 2013 and we have reached 50% of the goal of 56 meetings, which in this case are conference calls, rather than face-to-face, like the New Jersey initiative. The calls have been high quality and the group expects site visits to result from three of them. The coalition has enough money to continue the initiative for another year or two. An evaluation by the participants will determine the program’s direction going forward.
Site Selector Familiarization Tours have been popular for a long time. It is important to design an interesting event and invite only the top site selection consultants to these events. This slide contains tips from a couple of those consultants.
Upstate New York is home to many regional economic development groups whose focus is marketing and sales. Counties in their regions should, and do, dovetail on their marketing activities to leverage this resource.
This slide is self explanatory. The instructor has experience with these resources, but makes no claims to their value to other individuals and organizations….LOL.
As an aging Baby Boomer, I have tried to not get out of touch with the communication methods of the day. Like most managers who cut their teeth on Number 2 pencils and yellow, legal pads, I was fearful that Social Media would take time away from work, by my direct reports. Having three sons in their twenties helped me understand the importance of texting, tweeting and Facebooking, if that is indeed a real word. I started in 2005 with LinkedIn, by creating a profile and building it, based on things I learned from discussion I read online. I was in the market for a new employer at the time and saw LinkedIn as an up-and-coming vehicle for networking to find new employment. It has since become a powerhouse for that very thing. I did not create a group until 2008, after I decided to stay at National Grid. At that time, National Grid blocked employees from using Facebook, YouTube and Twitter because the Company had not embraced Social Media. Within a couple years they did a 180 and completely bought into Social Media as another important method for communicating with customers and stakeholders.
The Big Four are LinkedIn, Twitter, Facebook and YouTube, but Pinterest, Google+, Tumblr, Flickr, Instagram and Vimeo are also popular.
This slide is self-explanatory. Most of the social media content that I consume is news. My economic development and site selection constituency, and probably yours, more often than not, posts news. Younger people use Twitter and Facebook to communicate in a more personal way.
This slide is self explanatory. Being in a corporate environment, I do not seek out reporters, with whom to interact (though some do follow me). Our Company’s policy is that only Corporate Communications staff speaks to reporters. Local economic developers are not burdened by that restriction.
I like to call LinkedIn, social media for adults. It is a networking vehicle designed to fill jobs and find jobs, but it also serves as a great forum for professional discussions and sharing best practices.
Starting a LinkedIn group is a great way to build a network of people who are interested in economic development and your community or region. I started National Grid Upstate NY Economic Development Allies in 2007 and have built it into a group of 360 members, mostly economic development professionals supported by National Grid economic development programs and site selection consultants I have gotten to know, over the years. One of the most populated economic development LinkedIn group that I know of is the Saratoga Economic Development Corporation, with 2,214 members. SEDC worked very hard to establish a top notch, social media marketing program, thanks mostly to the efforts of former marketing Director Shelby Schneider. Though she is likeable and possesses and great personality, I am certain that Shelby does not know all 2,214 group members. Most joined the group because they support SEDC and want to be involved, even if it is tangential.
While LinkedIn is a professional network, Facebook is more about personal relationships. It is a global network, so economic developers should take advantage by getting their message out to international users. Facebook is also a helpful tool in organizing groups of constituents around issues.
This slide is self-explanatory. Building a base of meaningful followers is the biggest challenge. Search for and follow stakeholders, so they will follow you. Search for and follow members of organizations to which you belong. The more you network in person, the easier it is to build an online network.
We are all busy. Our days are full of meetings, travel, assignments for the boss or providing direction to direct reports. If you are a CEO of an EDO and cannot devote any time to social media, designate a direct report to create and maintain a social media presence. Take in interest in it. Jointly establish benchmarks to measure progress.
Many EDO’s get caught up in filling the funnel with leads. Some sit back and wait for the phone to ring. Regional EDO’s usually have the capacity to keep marketing and filling the funnel, while working to cultivate the leads they have acquired and closing deals with the prospects who have put their region on a short list. Small three and four person EDOs do not have this capacity. Once a short list is developed and your community is on it, you must deliver to close the deal. The results that your supporters want are business attractions and expansions.
An example of a “bad lead” is a company or entrepreneur who contacts you and the first question is about incentives they want to “move their business” to your area. Companies rarely move, without good reasons, most of which are negative. Incentives are never a reason for a “good company” to pick up and move to another community.
