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Atlas Marketing for Success - IEDC Marketing and Attraction

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Atlas Advertising CEO Ben Wright presents Marketing For Success at the International Economic Development Council's Marketing and Attraction Conference in Madison, Wisconsin in October 2012

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Atlas Marketing for Success - IEDC Marketing and Attraction

  1. 1. IEDC Marketing forSuccess: A Framework and Case Studies 1
  2. 2. Questions we will answer1. How do we as a profession (in this room) 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 do we define success as a profession?4. Who are the top performing communities in the nation in 2012?5. What can we learn from high performing communities?6. How can we evaluate our own past performance, and plan for our future performance?7. How can we implement high performing marketing programs in our own communities? 2
  3. 3. How To Vote via Texting 1. Standard texting rates only (worst3 case US $0.20)TIPS 2. We have no access to your phone number 3. Capitalization doesn’t matter, but spaces and spelling do
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  5. 5. Download the slides, listen to thevideo, continue the dialogue • Continue the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd – Tweet questions using hashtag #AskAtlas – Join Next Gen Economic Development Marketers LinkedIn Group • View and share the slides with your colleagues (available now): http://bit.ly/fQB6hC 5
  6. 6. A few principles that drive (or should drive) economic development marketing 6
  7. 7. What worked 20 years ago is not the same as what works today. 7
  8. 8. What hasn‟t changed:To make a difference, we have to serve companies directly. 8
  9. 9. If we are not having conversations,we are not making a difference. 9
  10. 10. What has changed:The ways we start conversations have changed forever. 10
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  12. 12. A simple framework to help define success: High Performance Economic Development 12
  13. 13. What High Performance EconomicDevelopment Is• It is the first measurement of the outcomes (Inquiries, jobs, capital investment) that EDO‟s create on this scale.• It proves the ways we make a difference, and in some cases, the ways we don‟t.• It can help drive your strategic and marketing planning using actual outcomes, instead of activities, using national benchmarks as your guide. 13
  14. 14. The framework: 14
  15. 15. The results, from 100 + communities 15
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  20. 20. A definition of success:Benchmarked results by population size 20
  21. 21. Benchmarked Results byPopulation Size POPULATION YEARLY WEB INQUIRIES JOBS LAST 12 CAPITAL VISITS PAST 12 MONTHS INVESTMENT MONTHS LAST 12 MONTHS Less than 25,000 20 $28,333,333 8,418 98 25,001 to 100,000 46 576 $63,750,000 8,324 100,001 to 22,412 65 1,198 $149,376,418 250,000 250,001 to 28,374 208 2,422 $365,923,077 1,000,000 1,000,000 to 45,543 228 2,646 $447,794,260 2,500,000 Over 2,500,000 23,445 170 5,359 $399,630,000 Average for all 29,181 148 1,768 $244,629,502 Sizes 21
  22. 22. Which one of these is not like the other one? CAPITAL YEARLY JOBS ANNUAL INVESTMENTORGANIZATION WEB INQUIRI JOBS WON PER OPERATING WON LAST 12 VISITS ES INQUIRY BUDGET MONTHS Over 4,171 $875,700,000Ohio Community 43,618 169 25 $2,500,000 $500,000 to 2,329 $424,082,780Indiana Community 25,572 107 22 $999,000 Over 338,388 400 14,415 $2,232,616,082Tennessee Community 36 $2,500,000 Over 50,236 101 3134 $418,200,000Virginia Community 31 $2,500,000 Over 4033 $43,600,000Florida Community 67,440 621 6 $2,500,000Average for Above 105,051 280 5,616 $798,839,772 24Communities 22
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  24. 24. Who are the top performingcommunities in the nation in 2012? 24
  25. 25. Highest Performers byMarket Size Extra Large Large Market Large Mid- Market Market EDO: EDO EDO: (Over 2,500,000 (1,000,000 to (250,000 to pop): 2,500,000 pop): 1,000,000 pop): Mid Market EDO: Small Region Small/Rural City or (100,000 to 250,000 (25,000 to County pop): 100,000 pop): (Under 25,000): 25
  26. 26. What can we learn from high performing communities? 26
  27. 27. What one community has done tobe the best Nashville, TN has moved from being the Country Music Capital of the world to being that and a world class business destination. Over the past 20 years, the community has raised its profile, and has the results to show it: the EDO there, the Nashville Area Chamber of Commerce, has generated more jobs and more capital investment than any other community its size. 27
  28. 28. What one community has done tobe the best (2) “The Nashville region has had a public- private economic development initiative for twenty years, and we have learned a lot along the way. Including: 1. Don‟t be afraid to be measured…….this is how your funders approach their own businesses so metrics „speak their language‟, and having a set dashboard is essential for mid-course corrections;Janet Miller, 2. Work regionally, no matter how challengingNashville Area that may be……….because the customerChamber of demands it. Preach it and live it;Commerce 28
  29. 29. What one community has done tobe the best (3) 3. Consistency pays off. We have worked the site selection consultant audience for twenty years, and this has paid off through consistently high rankings of our program in site consultant place surveys, and deals being introduced that we may not have seen without long relationships and on-site exposure of these consultants to the „true‟ Nashville; 4. Be who you are…………Nashville is a creative, quirky entrepreneurial place that has been built by people throwing the guitar in the car and moving to the city to make their dreams come true. That theme of hope, creativity and confidence has been leveraged outside of the music sector into the spirit of the whole place. And who doesn‟t want to live in a creative, entrepreneurial place where dreams come true?” 29
  30. 30. DetailedCase Study:Putting a DesertOasis on the EDMap:Tucson RegionalEconomicOpportunities 30
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  33. 33. 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. 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 concepting35
  36. 36. Tucson concepting36
  37. 37. Tucson concepting37
  38. 38. Business Attraction Video 38
  39. 39. Tucson‟s Results• From 2005 to 2011: – 37 relocations – 9,200 jobs – $1.4 billion in new investment 39
  40. 40. Detailed CaseStudy: City ofWebster City, IAObjective: RecruitmentSize: Individual City/County(7,500 population, 200,000 in laborshed)Funding: Public 40
  41. 41. Webster City‟s Challenges• Small market in a rural part of a rural state• Not a well known, household name• No established, centralized economic development entity 41
  42. 42. 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• Linkedin for prospecting• Website: www.buildwebstercity.com 42
  43. 43. Branding 43
  44. 44. Branding 44
  45. 45. World class website 45
  46. 46. Virtual familiarization tour 46
  47. 47. Webster City‟s Results• Campaign launched January 2011• Quantitative results – Electric car company opened operations in former Electrolux facility in Q1 2011 – 300+ jobs of 500 goal have been recruited or the result of expansions• 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 from prospects to other ED groups asking “How they are doing this?” 47
  48. 48. How can we implement highperforming marketing programs in our own communities? 48
  49. 49. Putting High Performance IntoPractice: The Steps1. Benchmark your community – get a baseline.2. Plan for Performance with your board and stakeholders. – Website visits – Inquiries / Conversations – Jobs Announced – Capital Investment Announced3. Implement the basics, plus additional tactics that your organization can support.4. Adjust to improve your execution.5. Report out and celebrate your results. 49
  50. 50. Benchmarked Results byPopulation Size POPULATION YEARLY WEB INQUIRIES JOBS LAST 12 CAPITAL VISITS PAST 12 MONTHS INVESTMENT MONTHS LAST 12 MONTHS Less than 25,000 20 $28,333,333 8,418 98 25,001 to 100,000 46 576 $63,750,000 8,324 100,001 to 22,412 65 1,198 $149,376,418 250,000 250,001 to 28,374 208 2,422 $365,923,077 1,000,000 1,000,000 to 45,543 228 2,646 $447,794,260 2,500,000 Over 2,500,000 23,445 170 5,359 $399,630,000 Average for all 29,181 148 1,768 $244,629,502 Sizes 50
  51. 51. 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 Announced2. Set a marketing plan that drives those goals. 51
  52. 52. Implement the basic tools to manage,measure, and produce results.1. Economic development website, with a content management system to enable you to make changes2. A base of content about your area and your organization3. A customer relationship management system (or Excel spreadsheet to track inquiries and results)4. Email marketing management tools, such as Exact Target, Constant Contact5. Social media management tools, such as HootSuite, Tweet Deck, etc.6. Proposal templates and delivery systems (email, online)7. PowerPoint template for community and company presentations 52
  53. 53. Basics +1: Additional tactics that driveawareness and traffic to your website. Typical spending Total Typical cost per conversations/ conversation inquiries Slideshare promotion $2,000 25 $80 LinkedIn promotion $1,000 8 $125 Search engine $6,000 35 $171 marketing Display advertising $2,000 10 $200 Email marketing $5,000 25 $200 Facebook promotion $1,000 3 $388 Twitter promotion $2,000 3 $776 Direct mail $5,000 5 $970 YouTube promotion $10,000 5 $1,940 Print advertising $10,000 5 $1,940 Earned media/Media $20,000 10 $2,000 placement 53 Total $64,000 134 $478
  54. 54. Basics +2: Additional tactics that convertwebsite visits to conversations. Typical spending Total Typical cost per conversations/ conversation inquiries GIS systems $5,000 97 $52 Blogs/community $4,000 25 $160 generated content Virtual $10,000 12 $833 familiarization tours Total $19,000 134 $142 54
  55. 55. Basics +3: Additional tactics that bypassthe website and go straight to conversations. Typical spending Total Typical cost per conversations/ conversation inquiries Lead generation $20,000 10 $2,000 Trade missions $10,000 2 $4,850 Trade shows $10,000 2 $4,850 /conferences Cold calling $10,000 2 $4,850 State or Regional $5,000 1 $4,850 Partnering Familiarization $50,000 4 $12,500 tours Total $105,000 21 $4,949 55
  56. 56. Celebrate your success! 56
  57. 57. Contact Atlas Contact information: 1128 Grant Street 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 57

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