marketing and attracting, tn basic economic development course 2013
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Janet Miller, CEcD & Jeff Hite Nashville Area Chamber of Comm. G.C. Hixson, CEcD Joint Economic & Community Development Board of Wilson CountyTRANSCRIPT
Marketing Strategies To Break Through the Clutter
GC Hixson, CEcD, Janet Miller, CEcD, Jeff Hite
US City Slogans: (These are for Real)
• 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.• Music City. Nashville.
Source: Tagline guru.com
Executive Summary
• Marketing Defined
• Research
• Target Audiences
• The Importance of Brand
• Marketing Methods that Work
• The Importance of Measuring
• Attract, retain & expand businesses
• Improve a community’s image
• Promote policies & programs
• Attract & retain a competitive labor force
Marketing Helps To……
The ECD Marketing Funnel
6
Business Development Strategy
Conditioning the
Market
Conditioning the Client
Conditioning the Deal
Opening Game• Market Analysis
• Resource Analysis
• Strategic Planning
• Business Planning
• Account Planning
• Branding/Image Management
Middle Game• Initial Contact
• Relationship Management
• Perception/Branding Management
• Information Management
• Opportunity Management
• Pursuit Management
• Capture Management
End Game• Proposal Management
• Next Steps
Con
tract
RFP
Aw
ard
Source: TVA, ECD
Research FIRST, Not LAST
Prioritize Your Target Audiences
• Existing pipeline of prospects – relocations & expansions
• Targeted marketing to top 200 relocation consultants in America 84% of relocations to Metros historically represented by these firms
• National and regional media Business publications, industry trades for target sectors, general business
• Local business leaders and opinion leaders Getting the talk on the street right
• Proactive pursuit of relocations in five sectorsHQs, health care, music/entertainment, advanced manufacturing, logistics
Target Audiences (in priority order)
Great Brands Include…
Functional &Emotional Benefits
Nashville’s Brand:• Creative, Risk-Taking• All Communications Reflect It
Be Ready for the Prospect
BEFORE you spend the first $
on outward marketing
www.nashvilleareainfo.com
www.doingbiz.org
Community Profile Brochures: Electronic and Print
Target Industry Brochures
RFI Template
Marketing Methods That Work
spend 10% of their budget on marketing
have a median marketing budget of $70,000
population size
≤250k
Data: Economic Development Marketing: Present and Future, Anatalio Ubalde and Eric Simundza, 2008
Marketing Spending
spend 11%+ of their budget on marketing
have a median marketing budget of $300,000
population size
>250k
Data: Economic Development Marketing: Present and Future, Anatalio Ubalde and Eric Simundza, 2008
Marketing Spending
Nashville Ranked #3 Next Big Boom
Nashville Ranked #6 Best Place for Business & Career
Nashville Ranked #3 of Top 10 Best Value Cities for 2011
Nashville Chamber named 4th Best Regional ECD Group in America
Nashville Ranked #1:Music Scene in America
#1 Manliest City in America
Nashville in the News
Nashville in the News
Wilson County Feature in Site Selection Magazine
Direct Mail Newsletters
Electronic E-Newsletters
Direct Mail
Out of Market – Planned Visits With Corporate Executives
Out of Market – Planned Visits With Corporate Executives
Special Events
• Strategy– Create organizational presence– Supplement to existing methods; becoming PRIMARY tool for most,
particularly with small budgets– Serve as independent news publisher/information center– Be careful…….easy to violate business / personal lines
• Goals: Set Measures before you launch if possible– Attract 500 followers on Twitter– Attract 500 fans on Facebook– Generate 250 visits per month to web site– Communicate consistently & frequently
Social Media
Social Media
Social Media
• “Dialogue with industry peers” is the number one influencer on corporate decision makers on future facility locations
• Building strong relationships with local leaders is key: leverage their out-of-market relationships (alumni networks, suppliers, vendors, etc.)
• Peer to Peer marketing examples– Louisiana Pacific HQ example– Oreck HQ example
Peer to Peer Marketing
The Importance of Measuring in Economic
Development
Type of Operation Project Numbers
Investment Square Footage New Employees
Distribution 6 $130,500,000 2,375,000 1,049
HQ 10 $108,660,000 903,000 2,520
Back Office 11 $146,600,000 1,218,000 5,495
Manufacturing 4 $478,000,000 1,950,000 2,240
Other 6 $284,830,000 383,000 1,740
Total 31 $863,760,000 6,446,000 11,304
Metrics
Objectives
2008-2009 Goal
2008-2009 Actual
3 Year Goal
3 Year Actual
% of 3 Year Goal
1) Employment Growth of 1.5% per year in the region
11,500 - 14,733 34,500 9,895 28.7%
2) Maintain average unemployment rates below 5% each year
< 5% 7.4% 5.3%
3) Population growth of 2% per year in the region
33,410 30,485 97,763 111,145 113.7%
4) Increase per capita personal income at a rate that exceeds the CPI index by 0.5%
$1,663 $414 $4,261 $3,330 78%
Metrics
Marketing Strategies To Break Through the Clutter
GC Hixson, CEcD, Janet Miller, CEcD, Jeff Hite