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Atlas CEO Ben Wright presented latest data and case studies at the IEDC Marketing and Attraction Conference in Phoenix, AZ in March 2012
Citation preview
11
Comprehensive Economic
Development Marketing –
Case Studies
22
Agenda
• A few formative ideas about ED marketing • How research can inform your marketing decisions• What the customers (Site Selectors) say• How marketing should differ by organizational size and type• Case studies
– Tucson Regional Economic Opportunities– Webster City, IA
• Calculating and valuing the impact of your activities on your community
• Q+A
33
Join the community, continue the dialogue
• Join the Conversation: – Follow us on Twitter: www.twitter.com/AtlasAd– Tweet questions using hashtag #AskAtlas
• Join the community of innovative economic development marketers– Join our Next Gen Economic Development
Marketers LinkedIn Group
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A Few Formative Ideas About ED Marketing
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Whether or not you market, your community and its brand already exists. It is up to you to shape, not create, the brand and story of your community. If you don’t, you will leave that up to others who may have different interests.
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When considering your marketing efforts, set quantitative goals. If you can’t measure it, you shouldn’t buy it.
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States are different from regions and different from individual cities and counties. The area you represent, your organizational goals, and how you are funded each should drive the tactics you use.
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Economic developers should respond to those who are already looking before speaking to those who aren’t.
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Businesses may do one major relocation in their management’s entire time there. Our job as economic developers is to educate, coach, and be relevant to them. If we don’t, we will be cut out.
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How research can inform your marketing decisions
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The regions that consistently make the cut in the West
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Some examples of standard benchmarks for quantitative goals
Goal City or County
Benchmark
Region Benchm
ark
State Benchm
arkDeals/Jobs in the pipeline Varies Varies Varies
RFI requests per month Varies Varies VariesWebsite visits per month 1,500 5,000 20,000
Incoming email and phone inquiries per month
15 50 200
Property searches on my website per month 500 2,500 5,000
Social media followers/ connections 200 500 1,000
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How to focus your Marketing at the correct “moment” for the company
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Please rate the following in terms of their importance as a source of information:
Information Source % Important, 2011
% Important, 2006
Site visits (familiarization tours) 100% 100%Existing relationships with ED officials 95% 88%
Community websites 90% 63%Third party national data sources 90% n/a Past experience with other deals 81% 71%Word of mouth from peers 57% 43%Calls from local officials 48% 29%Existing relationships with local real estate community
38% 29%
National conferences 29% 0%Trade magazines 29% 14%Social Media/Social Networks 24% n/a
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2011: Access to Customers, Incentives, Proximity to Univ., Access to Workforce Lead the “Fastest Growing” Factors List
2011 2006 % differenceAccess to customers (large markets) 95% 69% 26%
Financial incentives from communities 95% 69% 26%
Proximity to a research university 67% 43% 24%
Access to technical/scientific workers 90% 70% 20%
Quality or fit of specific real estate 90% 75% 15%
Access to transportation infrastructure 90% 76% 14%
Pro-business tax-regulatory climate 95% 83% 12%
Access to senior management talent 76% 64% 12%
Quality of life for employees 62% 60% 2%
Ability to recruit workforce 95% 96% -1%
A rapidly growing region 57% 60% -3%
Access to cultural amenities 43% 49% -6%
Access to outdoor recreation 10% 38% -28%
Climate (weather) 29% 58% -29%
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Interesting Findings on Online, GIS, and Social Media for Economic Development
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Top 10 pages used nationally on ED websites
1. About Us (about the organization)
2. Programs (that the organization offers)
3. Data Center
4. News
5. Relocate and Expand
6. Find Property
7. Site Selection Services
8. Workforce data and Information
9. Database of Companies or Largest Employers
10.Maps of the Area
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What new media advancements have you seen that you think are valuable to the site selection profession?
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What the Customers (Site Selectors) Say
2020
Tracey Hyatt Bosman
1. Based in Chicago, IL
2. Former economic developer
3. Specializes in renewable energy and data centers
Director of Grubb & Ellis
Strategic Consulting Group
Tracey.Bosman@Grubb-Ellis.com
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What Tracey needs and doesn’t need
What We Need• Contact information• Incentive programs• Tax rates• Recent announcements• Industry-targeted info• Map of your territory• Largest employers• Area colleges and
universities
What We Don’t
• General labor statistics
• Secondary source wage information
• Real estate listings
• Rankings
• Distance to other major cities
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Douglas van den Berghe
1. Based in Amsterdam, Netherlands
2. Specializes in international corporate location
Douglas van den Berghe
Managing Director
Investment Consulting Associates
douglas@ic-associates.com
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Douglas van den Berghe
What is a cluster?
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Ed McCallum
1. Based in South Carolina
2. Partners with Mark Sweeney, a former economic
developer
3. Specializes in large industrial projects
McCallum – Sweeney Consulting
info@mccallumsweeney.com
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A Site Selector’s rationale for regional economic development
1. Regions have larger, more diverse set of assets for companies
2. Regions can support more effective marketing
3. Regions are better aligned with site selection decisions
a) Labor markets
b) Infrastructure
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How marketing should differ by organizational
objective, size and funding type
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Economic development organizational objectives
Deal focused Infrastructure/ Policy
focused
Retention/
Entrepreneurship
focused
Mission Jobs and wealth from outside
Awareness, Inquiry
Jobs and wealth from inside
Improve the business environment
Key audience
Site selectors, prospective companies
Site selectors, prospective companies
Local companies and entrepreneurs
Local elected officials, government
Metrics Deals closed, deals in pipeline
Awareness, inquiries/mo.
Meetings, issues solved, policy
Projects built, legislation passed
Staffing ½ business developers, ½ marketers
2/3 marketers and information producers
½ business developers, ½ , service providers
½ lobbyists, ½ policy/infrastructure
Core Skills Service, person to person communication, sales.
Content creation, digital communications
Service, consulting
Lobbying, public affairs
Promotion focused
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Size and funding of ED Organizations• Geographic coverage
– States – Large Regions (1,000,000 people plus)– Small Regions (between 100,000 and 1,000,000 in
population)– Individual Cities/Counties under 100,000
• Funding– Predominantly publicly funded– Public/Private funding
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Case Study 1: Tucson
Regional Economic
Opportunities
Objective: Promotion
Size: Large Region (1,000,000)
Funding: Public (35%)/Private (65%)
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Economic development organizational objectives
Deal focused Infrastructure/ Policy
focused
Retention/
Entrepreneurship
focused
Mission Jobs and wealth from outside
Awareness, Inquiry
Jobs and wealth from inside
Business environment
Key audience
Site selectors, prospective companies
Site selectors, prospective companies
Local companies and entrepreneurs
Local elected officials, government
Metrics Deals closed, deals in pipeline
Awareness, inquiries/mo.
Meetings, issues solved, policy
Projects built, legislation passed
Staffing ½ business developers, ½ marketers
2/3 marketers and information producers
½ business developers, ½ , service providers
½ lobbyists, ½ policy/infrastructure
Core Skills Service, person to person communication, sales.
Content creation, digital communications
Service, consulting
Lobbying, public affairs
Promotion focused
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Tucson’s Goals
• TREO's Values– Nurture Competitive Economic Growth– Build Strategic Partnerships– Promote Regionalism– Be an Economic "One Stop"– Maintain a Customer Focus
• TREO JobOne– Acceleration of regional and national marketing– Local company assistance– Enhanced tools to spur job creation– Creating a strong and unified voice– Leveraging the federal stimulus
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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 Target Audience
•Targeted industries–
Aerospace and Defense
–Bioscience
–Solar
–Transportation & Logistics
•Targeted geographies–
Southwestern US
–California
–Western Europe
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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’s Results
• From 2005 to 2011:– 37 relocations– 9,200 jobs– $1.4 billion in new investment
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Case Study 2: City of Webster
City, IA
Objective: Recruitment
Size: Individual City/County (7,500
population, 200,000 in labor shed)
Funding: Public
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Economic development organizational objectives
Deal focused Infrastructure/ Policy
focused
Retention/
Entrepreneurship
focused
Mission Jobs and wealth from outside
Awareness, Inquiry
Jobs and wealth from inside
Business environment
Key audience
Site selectors, prospective companies
Site selectors, prospective companies
Local companies and entrepreneurs
Local elected officials, government
Metrics Deals closed, deals in pipeline
Awareness, inquiries/mo.
Meetings, issues solved, policy
Projects built, legislation passed
Staffing ½ business developers, ½ marketers
2/3 marketers and information producers
½ business developers, ½ , service providers
½ lobbyists, ½ policy/infrastructure
Core Skills Service, person to person communication, sales.
Content creation, digital communications
Service, consulting
Lobbying, public affairs
Promotion focused
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Webster City’s Goals• Increase awareness of the City as a destination for
business• To recruit/add 500 jobs from 2010-2012 • Maximize the reuse of the Electrolux facilities • A clearly articulated image for the City and its
economic future– Build a brand – Establish an internal marketing program toward residents– Launch communications to site selectors, allies, and
targeted industries – Launch targeted industry marketing
• Inspire a generation of local entrepreneurs to forge ahead
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Webster City’s Target Audience• External Audiences:
– Midwest based site selection consultants– Foreign counsels in Minneapolis and Chicago – Companies in targeted industries, including – Commercial real estate brokers in large Iowa cities– Buyers and/or suppliers to companies in and around the
Webster City area.
• Internal Audiences:– Residents of Webster City– Existing employers– Economic development allies at the local, regional, and
state levels
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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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Webster City’s Results • Campaign launched January 2011• Quantitative results
– Electric car company opened operations in former Electrolux facility in Q1 2011
– Two other prospects that have already visited and are in proposal/decision stage, plus one other that the community lost
– The City has been getting calls direct from prospects, including in response to recent press, the city's direct mail and online marketing Website traffic has grown, and time on site has increased
– Website is receiving more traffic from ED specific keywords• 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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Calculating and valuing the impact of your activities on your community
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How to value an economic development promotion activities
Generating
Awareness
Generating InquiryGenerating Jobs
and Investment
Knowledge of the
Organization
Visits to website
Phone/email inquiries
Prospect meetings
Prospect pipeline
Number of jobs
Capital investment
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Example Economic Developers that have shared their information
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The value of various organizations’ impact on their communities in context
AWARENESS INQUIRY JOBS AND INVESTMENT
ORGANIZATIONSOCIAL MEDIA TOTAL
MONTHLY GOOGLE
SEARCHES
WEB VISITS
LAST 12 MONTHS
INQUIRIES PAST 12 MONTHS
JOBS IN PIPELINE
JOBS WON
LAST 12 MONTHS
CAPITAL INVESTMENT WON LAST 12 MONTHS
Sub - Region 443 140 21,257 109 2,681 3,531 $ 293,878,000
Large Region 2631 390 37,880 195 46,531 4,048 $ 906,160,000
Medim sized region 24 110 8,428 68 4,803 2,285 $ 399,371,908
Medium Sized Region
371 635 43,618 169 5,878 4,171 $ 875,700,000
Medium Sized Region
486 480 25,572 107 9,635 2,329 $ 424,082,780
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Summary of Value
Large Region
Medium Sized Region
Sub-region with Large
Region
Medium Sized Region
Southeast Business
Partnership
$1,131,835,705
$980,924,278
$632,667,138 $621,058,567
$394,691,425
Medium Sized
Region
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Would you like to join a national community to benchmark the impact you have?
• Fill out the survey at the link on the sheet at your table
• We will send you a report about how your community ranks
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Hear more from Keith Gendreau of Cushman & Wakefield:
Attend the Atlas webinar March 14:
How Site Selectors are Using GIS to Evaluate Locations and "Short-List" Communities
http://www.atlas-advertising.com/How-Corporate-Real-Estate-GIS.aspx
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Contact Atlas
Contact information:
2601 Blake Street, Suite 301
Denver, CO 80205
Contact: Ben Wright
t: 303.292.3300 x 210
benw@Atlas-Advertising.com
www.Atlas-Advertising.com
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