janet miller - leveraging the music city brand

NAMA:Leveraging the

Music City Brand

• What happens here, stays here. Las Vegas.

• The aliens aren’t the only reason to visit. Roswell, NM.

• Where horses have the right of way. McKinleyville, CA.

• It’s not the end of the earth, but you can see it from here. Bushnell, SD.

• Where the people are warm even when the weather isn’t. Andover, KS.

• Live large. Think big. Dallas, TX.

• Get ‘Er Done. Havre, MT.

• Cleveland Rocks.

• Rare. Well done. Omaha, NB.

• Nearly Nashville. Hopkinsville, KY

• Music calls us home. Music City. Nashville.

Top US City Slogans: (These are for Real)

Source: Tagline guru.com

• Economic development defined

• Marketing method research

• Economic development marketing for Nashville

• Leveraging the Music City Brand

Executive Summary

Economic Development Defined

• Recruitment – economies lose 3-5% of jobs annually. Replacement strategy infusing outside capital, talent, philanthropic dollars;

• Existing Business - The average community will derive 76% of their new jobs and capital investment from existing business;

• Entrepreneurial and Small Business – Nashville consistently ranks in top ten most entrepreneurial cities in America; keeps talent, capital and jobs in Nashville.

• “Product Improvement” – i.e. Education, transportation, QOL

Relocations and Expansions Combined 2007-2008

9,625 jobs

$1.2 billion capital investment

4,908,208 square feet

2007 – 2008 Relocations

• 51 new companies• 3,367 new jobs• $238.46 million capital investment• 3,052,360 square feet • 170% of goal

14 headquarters and administrative offices

• Oreck• Backyard Burgers• Verizon Wireless HQ• Japan Consul-General office• Shoals Technology• Tasti D-Lite• Cogent Healthcare

Relocation Highlights ’07-08

• Deloitte & Touche• Vought• Zeledyne• Springs Bath Industries• Avenue Bank• Bank of New York• BOC Gases• Emma• Robert Bosch Co.

• Kroll• Vanderbilt University &

Medical Center• Podiatry Insurance Co. of

America• GAC – Scripps Networks• Franke Inc.• Comcast• CHD Meridian

Expansion Highlights ’07-08

12

3 34

5

13

Entertainmen

tData

Center

Call C

enterHea

dquarter

Back O

ffice

Distributio

nManufacturin

gBusiness Recruitment Pipeline -

Negotiating Projects

1,505 4,975,000 8,359 2,374,975,000 31Grand Total

1,371 2,800,000 2,739 2,134,500,000 13Manufacturing

17 990,000 565 21,025,000 5Distribution

61 515,000 3,150 43,500,000 4Back Office

11 160,000 420 25,500,000 3Headquarter

20 220,000 1,200 20,450,000 3Call Center

20 170,000 35 120,000,000 2Data Center

5 120,000 250 10,000,000 1Music / Entertainment

Sum of Acreage

Sum of Sq Footage

Sum of Num Employees

Sum of Capital Investment

Number of Projects

Business Recruitment “Negotiating” Pipeline Report – 11/25/08

Economic Development Marketing Research

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5

Proximity to Funding

Quality of Life

Competitive incentives

Business-friendly government

Transportation systems

Overall operating costs

Labor (availability, quality, cost)

Importance of Factors in Business Location Decisions

Source: DCI, 2008

0% 10% 20% 30% 40% 50% 60% 70%

Personal travel

Word of mouth

National surveys

Online sources

Meetings w/ ED reps

Business travel

Articles in media

Dialogue w/ peers

Executive Perceptions of Cities - Influencers

Source: DCI, 2008

Source: DCI, 2008

0% 10% 20% 30% 40% 50% 60%

Telemarketing

Advertising

Direct Mail

Hosting Special Events

Public Relations / Publicity

Planned Visits to Corporate Execs.

Internet / Website

Most Effective Marketing Methods

Source: DCI, 2008

Marketing Nashville for Economic Development

Target Audiences (in priority order)

•Pro-active pursuit of relocations in five targeted sectorsCorporate headquarters, health care, music and entertainment, advanced manufacturing, and logistics/distribution

•Targeted marketing to top 500 relocation consultants in America (84% of relocations to Nashville historically represented by these firms)

•National and regional media Business publications, industry trades for target sectors, general business and lifestyle readers

•Local business leaders and opinion leaders

Source: DCI, 2008

0% 10% 20% 30% 40% 50% 60%

Telemarketing

Advertising

Direct Mail

Hosting Special Events

Public Relations / Publicity

Planned Visits to Corporate Execs.

Internet / Website

Most Effective Marketing Methods

Source: DCI, 2008

Marketing Methods

• National public relations strategies– “Second friendliest city in America”

Travel and Leisure, 2008 & the Today Show

– “#1 City for Relocation & Expansion in America”Expansion Management 2007, 2008

– “Best Cities for Jobs”, Nashville ranks 14thForbes, 2008

– “Top Ten Cities for Business”, Nashville ranks 6th

Marketwatch.com, 2008

Marketing Methods

• Data and Web Tools– 90% online today– RFI and proposal responses – Nashvilleareainfo.com under revamp– ED Solutions as consultant

• Outbound Face-To-Face Marketing– Outbound: New York, Los Angeles, Chicago,

Toronto, Atlanta, Dallas, Boston, Toronto– International: Germany VW Supplier trip & focus on

countries w/ State offices (Canada, Germany, China)

Marketing Methods

• Event marketing– Presidential debate example– Inbound marketing around

• CMA Music Fest• CMA Awards Show• Monday Night Football• Preds Games• Digital Summit• Opportunistic event marketing

Marketing Methods

• “Dialogue with industry peers” is the number one influencer on corporate decision makers on future facility locations

• Peer to Peer marketing is our #1 marketing strength– Louisiana Pacific HQ example– Oreck HQ example

Leveraging the Music City Brand

Music = Creativity

•We embrace the Music City brand (and have fun with it)

•People crave authenticity- short list differentiator

•Broaden it out for ECD purposes – music and more

•Attracts people and people attract companies