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Presentation to 2010 Basic Economic Development class at UAlbany in June 2010
Citation preview
““Marketing Your CommunityMarketing Your CommunityAndAnd
Managing ProspectsManaging Prospects””
NYS Basic Economic Development CourseNYS Basic Economic Development CourseWednesday, June 23, 2010Wednesday, June 23, 2010
3:30 – 5:00 P.M.3:30 – 5:00 P.M.University at AlbanyUniversity at Albany
Part I - ECONOMIC DEVELOPMENT Part I - ECONOMIC DEVELOPMENT MARKETINGMARKETING
Marketing and SalesMarketing and Sales
What is marketing?What is marketing? To communicate about a product or To communicate about a product or
service, the purpose of which is to service, the purpose of which is to encourage recipients of the encourage recipients of the communication to purchase or use communication to purchase or use the product or service.the product or service.
Marketing and SalesMarketing and Sales
What is marketing?What is marketing?
The process of planning and executing The process of planning and executing the conception, pricing, promotion, and the conception, pricing, promotion, and distribution of ideas, goods, and distribution of ideas, goods, and services to create exchanges that services to create exchanges that satisfy individual and organizational satisfy individual and organizational goals.goals.
Marketing and SalesMarketing and Sales
What is marketing?What is marketing?
The process of identifying and communicating The process of identifying and communicating with qualified prospectswith qualified prospects
The ability to gain interest in your product or The ability to gain interest in your product or service from the customer service from the customer
What is sales?What is sales?
The ability to deliver what the customer wantsThe ability to deliver what the customer wants
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”
Create a Marketing PlanCreate a Marketing PlanED Marketing Expert Eric Canada SaysED Marketing Expert Eric Canada Says
After building and implementing After building and implementing dozens of marketing plans, it has dozens of marketing plans, it has become clear that there are two become clear that there are two critical elements:critical elements:
It must be simpleIt must be simple It must address points of challengeIt must address points of challenge
Create a Marketing PlanCreate a Marketing Plan
1.1. Mission StatementMission Statement2.2. SWOT AnalysisSWOT Analysis3.3. StrategyStrategy4.4. ClientsClients5.5. Target AudiencesTarget Audiences6.6. Goals and ObjectivesGoals and Objectives7.7. ResourcesResources8.8. Strategic PartnersStrategic Partners9.9. PositioningPositioning10.10. PromotionPromotion
© 2002 Blane Canada, Ltd. Marketing Plan Template© 2002 Blane Canada, Ltd. Marketing Plan Template
Create a Marketing PlanCreate a Marketing Plan
11.11. Communications Plan Communications Plan
12.12. Sales PlanSales Plan
13.13. 11stst Year Action Plan Year Action Plan
14.14. Evaluation CriteriaEvaluation Criteria
15.15. Executive SummaryExecutive Summary
16.16. End NotesEnd Notes
© 2002 Blane Canada, Ltd. Marketing Plan Template© 2002 Blane Canada, Ltd. Marketing Plan Template
Create a Marketing PlanCreate a Marketing Plan
Create a Plan based on your StrategyCreate a Plan based on your Strategy
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’s Be Objective about your Community’s Advantages and DisadvantagesAdvantages and Disadvantages
Your Materials must be High QualityYour Materials must be High Quality
Create a Marketing PlanCreate a Marketing Plan
From 65 to 80% of all new jobs come From 65 to 80% of all new jobs come from existing business expansionsfrom existing business expansions
Identify a Unique Selling Proposition!Identify a Unique Selling Proposition!
Define Success before you begin!Define Success before you begin!
Marketing And SalesMarketing And SalesWhen Marketing -Think Regionally!When Marketing -Think Regionally!
Implementing Your PlanImplementing Your PlanGetting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use
AdvertisingAdvertising
Implementing Your PlanImplementing Your Plan
Getting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use
Public RelationsPublic Relations
Implementing Your PlanImplementing Your Plan
Web Sites and EmailWeb Sites and Email
Implementing Your PlanImplementing Your Plan
Web Sites and EmailWeb Sites and Email
Implementing Your PlanImplementing Your Plan
Web Sites and EmailWeb Sites and Email
Implementing Your PlanImplementing Your Plan
Trade ShowsTrade Shows
Implementing Your PlanImplementing Your Plan
Direct MailDirect Mail
Implementing Your PlanImplementing Your Plan
Networking/Special EventsNetworking/Special Events
Implementing Your PlanImplementing Your PlanNetworking/Special EventsNetworking/Special Events
Implementing Your PlanImplementing Your PlanOne-on-One MeetingsOne-on-One Meetings
Developing the BudgetDeveloping the Budget
Major Expense ItemsMajor Expense Items
• What can you accomplish using in-house What can you accomplish using in-house resources, board members or strategic resources, 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?
Developing the BudgetDeveloping the Budget
Funding your Marketing ProgramFunding your Marketing Program
• Annual Outreach to Local Businesses that Annual Outreach to Local Businesses that benefit from Economic Developmentbenefit from Economic Development
• Local Government (if elected officials are ready Local Government (if elected officials are ready to accept that marketing does not always to accept that marketing does not always produce immediate ribbon-cuttings)produce immediate ribbon-cuttings)
• Grant Programs – State, Utilities, other Grant Programs – State, Utilities, other
The Latest Trends The Latest Trends Social MediaSocial Media
• FacebookFacebook• LinkedInLinkedIn• TwitterTwitter• You TubeYou Tube
Virtual familiarization toursVirtual familiarization tours• www.gotomeeting.comwww.gotomeeting.com • Keyhole Technology/Google EarthKeyhole Technology/Google Earth
Marketing to attract workforceMarketing to attract workforce• ““Come Home to ….” CampaignsCome Home to ….” Campaigns
The Latest Trends The Latest Trends
Search Engine MarketingSearch Engine Marketing• GoogleGoogle• YahooYahoo• BingBing
Fully integrate GIS into your web siteFully integrate GIS into your web site• Fast GIS Fast GIS http://www.fastgis.biz/http://www.fastgis.biz/ • Rolta Rolta http://www.rolta.de/http://www.rolta.de/ • Zoom Prospector Zoom Prospector http://www.zoomprospector.com/http://www.zoomprospector.com/ • ESRIESRI http://www.esri.com/http://www.esri.com/
Should I Sell or Market?Should I Sell or Market?
Market or Sell?Market or Sell?
Are we collecting leads or trying to Are we collecting leads or trying to attract investment and jobs to our attract investment and jobs to our
communities?communities?
Always work the prospects that you Always work the prospects that you have, before you work on the have, before you work on the prospects you hope to have!prospects you hope to have!
Marketing And SalesMarketing And Sales
““Prepared Communities Win”Prepared Communities Win”Mark SweeneyMark Sweeney
McCallum Sweeney ConsultingMcCallum Sweeney Consulting
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
Lead and Prospect ManagementLead and Prospect Management
Part II Part 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??????
Part II Part 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 – NO MATTER WHATALWAYS FOLLOW-UP – NO MATTER WHAT
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 the Your 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 must Confidentiality is a must • A breach could end the gameA breach could end the game
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? Their organizational structure and culture?Their organizational structure and culture? The products or services they provide?The products or services they provide?
Prepared Communities WinPrepared Communities Win
According to Area Development Magazine’s 21st Annual Survey published in January 2007
78% of companies performing a site search begin by looking for an existing facility. This is up from 73% in 2006
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!!
Prospect ManagementProspect Management
Prepared Communities Win Prepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For ManufacturingFor 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, vocational Skilled workers – availability, skills, vocational
trainingtraining
Prospect ManagementProspect Management
Prepared Communities Win Prepared 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
Prospect ManagementProspect ManagementPrepared Communities Win Prepared 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
Prospect ManagementProspect Management
Prepared Communities Win Prepared Communities Win
Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements
For Data Centers For Data Centers Conflicting Requirements and Few JobsConflicting Requirements and Few Jobs
• InfrastructureInfrastructure Heavy, reliable power, fiber/telecom Heavy, 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.
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
Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality
Working with Site Location ConsultantsWorking with Site Location Consultants
Companies Hire Consultants for Companies Hire Consultants for Different Reasons and Sometimes for Different Reasons and Sometimes for Different Sections of the Location Different Sections of the Location and/or Site Search and/or Site Search
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 a Qualify the Consultant as you would Qualify a Suspect or LeadSuspect or Lead
• Be Responsive Be Responsive
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 brochures Don’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”
Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality
The VisitThe Visit• Work with the Prospect or Consultant on the Work with the Prospect or Consultant on the
Itinerary and don’t deviate from it (unless they Itinerary 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, Practice Practice, Practice, Practice (do a dry run)(do a dry run)
• Be Efficient – Communicate; Don’t GuessBe Efficient – Communicate; Don’t Guess• Leverage Required Resources Leverage Required Resources • No Surprises!No Surprises!
Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality
The Presentation during the VisitThe Presentation during the Visit
• Keep it focused on the vital information that Keep 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 good Don’t Blow It – If you are not a good
presenter, use a board member or allypresenter, use a board member or ally
Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality
The Site TourThe Site Tour
• Assemble your team - The experts Assemble 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’t Try to have all the answers, but don’t
guess. If in doubt just say, “I don’t know, guess. If in doubt just say, “I don’t know, I will get you that information”I will get you that information”
• Know the sites well – don’t stumbleKnow the sites well – don’t stumble
Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality
The Follow-up after the VisitThe Follow-up after the Visit
• Promptly address all issues raisedPromptly address all issues raised• Promptly respond to all new information Promptly respond to all new information
requests requests • Make final incentive offer (if required)Make final incentive offer (if required)• Maintain confidentialityMaintain confidentiality
Prospect ManagementProspect ManagementFinally You Don’t Have to Maintain ConfidentialityFinally You Don’t Have to Maintain Confidentiality
The AnnouncementThe Announcement
• Managing the announcement if you winManaging the announcement if you win• Managing the Announcement if you lose Managing the Announcement if you lose • Conducting the exit interviewConducting the exit interview• Maintain a database of vital information Maintain a database of vital information
about wins and lossesabout wins and losses
THANK YOUTHANK YOUQuestions?Questions?