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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
Citation preview
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IEDC Marketing for Success: A Framework
and Case Studies
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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?
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How To Vote via Texting
1. Standard texting rates only (worst case US $0.20)2. We have no access to your phone number3. Capitalization doesn’t matter, but spaces and spelling do
TIPS
EXAMPLE
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Download the slides, listen to the video, 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
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A few principles that drive (or should drive) economic
development marketing
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What worked 20 years ago is not the same as what
works today.
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What hasn’t changed:
To make a difference, we have to serve companies directly.
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If we are not having conversations, we are not making a difference.
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What has changed:
The ways we start conversations have changed forever.
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A simple framework to help define success:
High Performance Economic Development
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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.
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The framework:
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The results, from 100 + communities
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A definition of success: Benchmarked results by
population size
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Benchmarked Results by Population Size
POPULATION YEARLY WEB VISITS
INQUIRIES PAST 12
MONTHS
JOBS LAST 12 MONTHS
CAPITAL INVESTMENT
LAST 12 MONTHS
Less than 25,000 8,418 20
98 $28,333,333
25,001 to 100,000 8,324 46 576 $63,750,000
100,001 to 250,000 22,412 65 1,198 $149,376,418
250,001 to 1,000,000 28,374 208 2,422 $365,923,077
1,000,000 to 2,500,000 45,543 228 2,646 $447,794,260
Over 2,500,000 23,445 170 5,359 $399,630,000
Average for all Sizes 29,181 148 1,768 $244,629,502
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Which one of these is not like the other one?
ORGANIZATION YEARLY
WEB VISITS
INQUIRI
ESJOBS WON
CAPITAL INVESTMENT WON LAST 12
MONTHS
JOBS PER
INQUIRY
ANNUAL OPERATING
BUDGET
Ohio Community
43,618
169 4,171 $875,700,000
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Over $2,500,000
Indiana Community
25,572
107 2,329 $424,082,780
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$500,000 to $999,000
Tennessee Community
338,388 400 14,415 $2,232,616,082
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Over $2,500,000
Virginia Community
50,236 101 3134 $418,200,000
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Over $2,500,000
Florida Community
67,440
621 4033 $43,600,000
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Over $2,500,000
Average for Above Communities
105,051 280 5,616 $798,839,772 24
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Who are the top performing communities in the nation in 2012?
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Highest Performers by Market Size
Extra Large Market EDO:
(Over 2,500,000
pop):
Large Market EDO (1,000,000
to 2,500,000 pop):
Large Mid- Market EDO:(250,000 to 1,000,000
pop):
Mid Market EDO:
(100,000 to 250,000 pop):
Small Region
(25,000 to 100,000 pop):
Small/Rural City or County
(Under 25,000):
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What can we learn from high performing communities?
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What one community has done to be 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.
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What one community has done to be 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;
2. Work regionally, no matter how challenging that may be……….because the customer demands it. Preach it and live it;
Janet Miller, Nashville Area Chamber of Commerce
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What one community has done to be 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?”
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Detailed Case Study: Putting a Desert Oasis on the ED Map:
Tucson Regional Economic Opportunities
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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.
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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
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Tucson concepting
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Tucson concepting
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Tucson concepting
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Business Attraction Video
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Tucson’s Results
• From 2005 to 2011:– 37 relocations– 9,200 jobs– $1.4 billion in new investment
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Detailed Case Study: City of Webster City, IA
Objective: RecruitmentSize: Individual City/County (7,500 population, 200,000 in labor shed)Funding: Public
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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
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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
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Branding
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Branding
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World class website
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Virtual familiarization tour
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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?”
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How can we implement high performing marketing programs
in our own communities?
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Putting High Performance Into Practice: The Steps 1. Benchmark your community – get a baseline.
2. Plan for Performance with your board and stakeholders. – Website visits– Inquiries / Conversations – Jobs Announced– Capital Investment Announced
3. Implement the basics, plus additional tactics that your organization can support.
4. Adjust to improve your execution.
5. Report out and celebrate your results.
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Benchmarked Results by Population Size
POPULATION YEARLY WEB VISITS
INQUIRIES PAST 12
MONTHS
JOBS LAST 12 MONTHS
CAPITAL INVESTMENT
LAST 12 MONTHS
Less than 25,000 8,418 20
98 $28,333,333
25,001 to 100,000 8,324 46 576 $63,750,000
100,001 to 250,000 22,412 65 1,198 $149,376,418
250,001 to 1,000,000 28,374 208 2,422 $365,923,077
1,000,000 to 2,500,000 45,543 228 2,646 $447,794,260
Over 2,500,000 23,445 170 5,359 $399,630,000
Average for all Sizes 29,181 148 1,768 $244,629,502
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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 Announced
2. Set a marketing plan that drives those goals.
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Implement the basic tools to manage, measure, and produce results.
1. Economic development website, with a content management system to enable you to make changes
2. A base of content about your area and your organization
3. A customer relationship management system (or Excel spreadsheet to track inquiries and results)
4. Email marketing management tools, such as Exact Target, Constant Contact
5. 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
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Basics +1: Additional tactics that drive awareness and traffic to your website.
Typical spending Total conversations/
inquiries
Typical cost per conversation
Slideshare promotion $2,000 25 $80
LinkedIn promotion $1,000 8 $125
Search engine marketing
$6,000 35 $171
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 placement
$20,000 10 $2,000
Total $64,000 134 $478
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Basics +2: Additional tactics that convert website visits to conversations.
Typical spending Total conversations/
inquiries
Typical cost per conversation
GIS systems $5,000 97 $52
Blogs/community generated content
$4,000 25 $160
Virtual familiarization tours
$10,000 12 $833
Total $19,000 134 $142
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Basics +3: Additional tactics that bypass the website and go straight to conversations.
Typical spending Total conversations/
inquiries
Typical cost per conversation
Lead generation $20,000 10 $2,000
Trade missions $10,000 2 $4,850
Trade shows /conferences
$10,000 2 $4,850
Cold calling $10,000 2 $4,850
State or Regional Partnering
$5,000 1 $4,850
Familiarization tours
$50,000 4 $12,500
Total $105,000 21 $4,949
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Celebrate your success!
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Contact Atlas
Contact information:
1128 Grant Street
Denver, CO 80203
Contact: Ben Wright
t: 303.292.3300 x 210
www.Atlas-Advertising.com
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