atlas iedc marketing for success
DESCRIPTION
Atlas CEO Ben Wright presents "Marketing for Success" at the International Economic Development Council's 2013 Marketing and Attraction Conference on October 3, 2013 in Philadelphia PA.TRANSCRIPT
1
2
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?– What should our marketing, job creation, and capital investment objectives be?
– How will we know if we are successful?
– How can we be more relevant to our investors, boards, and stakeholders?
3. What can we learn from high performing communities?
4. How can we implement high performing marketing programs in our own communities?
3
But first…Cutting through the clutter:
The world we work in
4
5
6
Do we as economic developers make a difference?
7
How To Vote via TextingEXAMPLE
8
Poll Question:As a practitioner, how much do you think you impact the overall economic activity in your area?
9
A few principles that drive (or should drive)
economic development
10
“Economic development organizations increasingly operate under much tighter budgets at a time when the need for economic development programming is becoming more crucial to the continued vitality and competitiveness of a community.”
International Economic Development Council in
“High Performing Economic Development Organizations,” 2011
11
What worked 20-50 years ago is
not the same as what works today.
12
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.
13
What has changed: The ways we start conversations
have changed forever.
14
Poll Question:Did your organization set measurable goals for your marketing this year (2013)?
15
A simple framework to help define success:
16
What “High Performance Economic Development” 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.
17
Who participated
18
The Framework
19
20
21
Key finding: Tremendous variance in results Budget Level
LOW JOBS ANNOUNCE
D
HIGH JOBS ANNOUNCE
D
LOW CAPITAL
INVESTMENT ANNOUNCED
HIGH CAPITAL INVESTMENT ANNOUNCED
LOW INQUIRIE
S
HIGH INQUIRIE
S
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
22
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
23
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
24
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
25
Who are the highest performers?
26
Who are the highest performers in key categories?
27
What Does Your Organizational Leadership Expect of You?
28
What’s Your Organization’s Version of Economic Development?
29
What can we learn from the top performers?
30
How the Indy Partnership Defines Economic DevelopmentAs an economic development practitioner for over 20 years, Marty Vanags
has worked in communities such as Rockford, IL, Bloomington, IL, and Indianapolis, IN. In recent years, Marty has been one of the biggest proponents of using all forms of media as a tool to develop relationships with the business leaders and residents in the communities he works in. Marty has hosted ongoing radio shows, contributes to his own blog, and uses Twitter consistently to communicate.
“The definition of economic development for me is about developing relationships with, and solving problems for business. I have worked in communities that have been successful at retention, recruitment, and entrepreneurial development, all at different times. Today, social media and my radio shows allows me to cast a wider net than I could even ten years ago – developing and maintaining more relationships – allows me to solve more problems for my community.”
- Marty Vanags, Vice President, Regional Economic Development, The Indy Partnership
31
COLUMBUS 2020 – Leading the way using a good ‘ground game’“Having been on the “other side” as a site selector, I can tell you that I try to run Columbus 2020 with the customer in mind. Under my watch, we have invested heavily in business development staff, because we believe a good “ground game” makes a huge difference for us. Only recently however, and partially because of High Performance Economic Development, have we started to build our marketing capability. I believe strongly that for Columbus to be successful, we need to drive more conversations with our business development staff.”
-Kenny McDonald, Columbus 2020, the Columbus Region
32
High Performers: A Day In the Life….
Janet MillerChief Economic
Development OfficerNashville Area Chamber
of Commerce
Sara DunniganSenior VP, Existing Business
Services& Talent Development
Greater Richmond Partnership
Clint KolbyProject Manager
Brenham Economic Development Foundation
33
Case Study 1: Nashville Area Chamber
34
Nashville Challenges
• “Music City” brand association with old-line country music can paint negative image for business
• Shortage of IT workforce with 5+ years experience limiting factor on tech-company growth
• National attention to state legislature and political infighting around immigration, incentives, etc. damaging for state image
35
Nashville Goals• Annual dashboard of metrics include:
– Job growth – 12,500/year– Per Capita Income growth – 1.6%– Population growth – 1.5%/year– Increase GDP – 2.3% /year– Relocations & Expansions
• Number, Jobs, Cap Investment, Square Footage, Jobs Retained
– Internal Metrics – prospect visits by industry sector; % ratio of RFP’s to site visits, etc.
• Successful launch and implementation of IT recruitment project including– Number of tech jobs created, time to fill, etc.
• Legislative scorecard
36
37
38
Nashville Tactics• Get the tools
right..nashvilleareainfo.com; RFP process and design; slide decks
• Consistent marketing over a period of years to target audiences………site selection consultants #1– Music = Creativity is the message
• Play to strengths rather than weakness – e.g. health care services versus biotech
• Policy work on state and local level…
39
40
Nashville Results
• Ranked number one for job growth in Atlas Advertising 2012 survey of ECD groups, Top 3 in 2013
• Top Ten Economic Development Group in America, Site Selection Magazine, 2011
• City named:– #1 – Kiplinger’s “Future Job Creating Machines”, 2012– #3 – “Future Boomtowns”, Forbes 2012– #2 – Top Start Up Paradise, Young Entrepreneur Council
2012– #3 – Overall America’s Best Cities, Travel + Leisure 2012– #2 – Most Cost-Attractive Business Location, KPMG 2012 – Top 10 U.S. Culture Cities – Homes Dot Com, 2012
41
The Corporate Relocation Story
42
Nashville Learning's
• Embrace who you are• Public-private sector leadership is key• Metrics matter• Acknowledging weakness is first step to tackling it• People will fund what they are passionate about
– Nashville Entrepreneur Center Launch– Tech Talent Campaign
43
Case Study 2: Greater Richmond Partnership
44
Richmond Region Challenges• Bringing together 4 strong localities around shared
vision• Integrating private sector investors and interests• Relatively successful – no crisis• Diverse economy – no single strong industry
“identity”• Slow growth economy, competitive neighbors• Existing business program needed a boost• Little brand awareness• Tight labor market
45
Greater RichmondWork Program• Business Attraction Regional Marketing• Business Retention and Expansion• New Business Formation & Small Business Support• Talent Development and Promotion
46
Greater Richmond Tactics• Sound foundation in strategic plan – clear
message to investors and community– Our work has impact - economic impact
• Revisited the plan assumptions – cluster study
• Reoriented work programs to support the above goals
• Developed internal scorecards and management tools
• Refined data systems and tracking methodology
47
Greater Richmond Tactics• Business Attraction Regional Marketing
– Cluster Focus– Domestic/International– Engage Stakeholders
• Business Retention and Expansion– Cluster Focus– High Growth– High Impact
• Talent Development and Promotion– External Market– Cluster Focus– Graduate Retention– High Demand Occupations
• New Business Formation & Small Business Support– Innovation– Peer Learning
48
So, What Do They Measure?
49
How do they share?
50
Greater Richmond Results• Specific job creation and investment (and more) goals – by
program of work• Attraction program emphasis on quality vs. quantity• Invested in web-based CRM, workflow system• Launched refined collaborative BR&E program• Launched talent portal – RichmondJobNet.com • Launched virtual relocation resource – LoveWhatYouFind.com• Scorecards developed for management, board and investors
51
Greater Richmond’s Learnings
“We can’t control the direction of the wind, but we can adjust our sails.”
‘Jobs & capital investment still matter’
• Link & understand process, output and outcome metrics• Alignment, accountability and transparency• Change when conditions change• Embrace technology• Explore “link and leverage” strategies• Focus on conversion• Transactional vs transformational
52
Case Study 3: Brenham Economic Development
Foundation
53
Brenham Challenges
• In the shadow of Houston and Austin
• Seen as more of a tourism destination
• Small pool of skilled labor• Lack of available
commercial buildings
54
Brenham Goals
• Build awareness with site selectors • Familiarization tours with commercial
real estate brokers• Reach out to existing primary
employers• Strong workforce development
partnership with local college and school districts
• A leading website that gets 7,000 + visits per year
55
56
Brenham Tactics
• Direct e-mail campaigns • Site visits and windshield tours • Survey with local primary
employers• Industry tours and training
programs• Relevant and updated website
content
INSERT SCREENSHOT OF SURVEY or SAMPLE EMAIL CAMPAIGNS
57
Brenham Results
• 66% increase in the number of conversations
• 100% increase in the number of proposals submitted
• 50% increase in the number of ongoing prospects
• Top micropolitan in Texas by Site Selection magazine for second year in a row
58
Brenham Learnings
• Embrace regionalism • Make yourself known• Business retention &
expansion is the meat and potatoes of rural economic development
• Workforce development is a major ingredient for success
59
Poll Question: After this session, are you more, the same, or less convinced that you can make a difference in your community?
60
Take the survey to participate:http://atlas-advertising.com/Community-Benchmarking-Study.aspx
61
Thank you!
Contact information:
1128 Grant StDenver, CO 80203Contact: Guillermo Maziert: 303.292.3300 x 232Guillermom@Atlas-Advertising.comwww.Atlas-Advertising.comLinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace