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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

benw@Atlas-Advertising.com

www.Atlas-Advertising.com

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