Atlas 7 Keys to High Performance Economic Development
Download as PPTX, PDF4 likes1,234 views
The document outlines seven keys to high performance in economic development as discussed by Atlas Advertising, providing insights from various case studies. It emphasizes the importance of measurable outcomes, strategic marketing, and learning from successful communities, highlighting challenges and tactics from case studies in Nashville, Richmond, and Brenham. Ultimately, the document advocates for the adaptation of modern practices to enhance community economic vitality and competitiveness.
Atlas 7 Keys to High Performance Economic Development
- 1. 7 Keys to High Performance Economic Development in 2013 1
- 2. Your hosts Ben Wright Guillermo Mazier CEO, Atlas Advertising Business Development, benw@atlas-advertising.com Atlas Advertising www.twitter.com/atlasad guillermom@atlas-advertising.com www.twitter.com/atlasad 2
- 3. About Atlas Advertising Atlas Advertising is a niche economic development marketing and technology firm that helps economic developers reach local, national and international prospect and site selection audiences. Atlas’ economic development solutions and websites have been named among the best in the country by the IEDC and Angelou Economics, and have won awards regionally from business to business marketing organizations. Atlas has worked with 90+ different economic development clients in 43+ US states and 6 countries. Our approach and experience means that our campaigns generate an average of three to ten times the response of other campaigns. Featured clients: – Denver South EDP – State of Ohio – Charleston County, SC – Omaha, NE – San Francisco, CA – Webster City, IA 3
- 4. View the slides, 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 4
- 5. Questions we will answer 1. How do we as a profession 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? 5
- 6. Cutting through the clutter: The world we work in 6
- 7. 7
- 8. 8
- 9. Do we as economic developers make a difference? 9
- 10. A few principles that drive (or should drive) economic development 10
- 11. “Economic development organizations increasingly operate under much tighter budgets at a time when the need for economic development programming is becoming more crucial to the continued vitality and competitiveness of a community.” International Economic Development Council in “High Performing Economic Development Organizations,” 2011 11
- 12. What worked 20 years ago is not the same as what works today. 12
- 13. What hasn’t changed: To make a difference, we have to serve companies directly. If we are not having conversations, we are not making a difference. 13
- 14. What has changed: The ways we start conversations have changed forever. 14
- 15. A simple framework to help define success: High Performance Economic Development 15
- 16. 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. 16
- 17. The framework: 17
- 20. ED success: benchmarked results by population size 20
- 21. Get the report: http://www.slideshare.net/wright040 5/atlas-high-performance-economic- development-white-paper Take the survey to participate: http://atlas- advertising.com/Community- Benchmarking-Study.aspx 21
- 22. What can we learn from the top performers? 22
- 23. Your panelists Janet Miller Sara Dunnigan Clint Kolby Chief Economic Development Senior VP, Existing Business Services Project Manager Officer & Talent Development Brenham Economic Nashville Area Chamber of Greater Richmond Partnership Development Foundation Commerce 23 Email Email Email jmiller@nashvillechamber.com Sdunnigan@grpva.com clint@brenhamtexas.com
- 24. Case Study 1: Nashville Area Chamber 24
- 25. Nashville Challenges • “Music City” brand association with old-line country music can paint negative image for business • Shortage of IT workforce with 5+ years experience limiting factor on tech- company growth • National attention to state legislature and political infighting around immigration, incentives, etc. 25 damaging for state image
- 26. Nashville Goals • Annual dashboard of metrics include: – Job growth – 12,500/year – Per Capita Income growth – 1.6% – Population growth – 1.5%/year – Increase GDP – 2.3% /year – Relocations & Expansions • Number, Jobs, Cap Investment, Square Footage, Jobs Retained – Internal Metrics – prospect visits by industry sector; % ratio of RFP’s to site visits, etc. • Successful launch and implementation of IT recruitment project including – Number of tech jobs created, time to fill, etc. • Legislative scorecard 26
- 27. 27
- 28. 28
- 29. Nashville Tactics • Get the tools right..nashvilleareainfo.com; RFP process and design; slide decks • Consistent marketing over a period of years to target audiences………site selection consultants #1 – Music = Creativity is the message • Play to strengths rather than weakness – e.g. health care services versus biotech • Policy work on state and 29 local level…
- 30. 30
- 31. Nashville Results • Ranked number one for job growth in Atlas Advertising 2012 survey of ECD groups • Top Ten Economic Development Group in America, Site Selection Magazine, 2011 • City named: – #1 – Kiplinger’s “Future Job Creating Machines”, 2012 – #3 – “Future Boomtowns”, Forbes 2012 – #2 – Top Start Up Paradise, Young Entrepreneur Council 2012 – #3 – Overall America’s Best Cities, Travel + Leisure 2012 – #2 – Most Cost-Attractive Business Location,31 KPMG 2012 – Top 10 U.S. Culture Cities – Homes Dot Com, 2012
- 32. The Corporate Relocation Story 32
- 33. Nashville Learning's • Embrace who you are • Public-private sector leadership is key • Metrics matter • Acknowledging weakness is first step to tackling it • People will fund what they are passionate about – Nashville Entrepreneur Center Launch – Tech Talent Campaign 33
- 34. Case Study 2: Greater Richmond Partnership 34
- 35. Richmond Region Challenges • Bringing together 4 strong localities around shared vision • Integrating private sector investors and interests • Relatively successful – no crisis • Diverse economy – no single strong industry “identity” • Slow growth economy, competitive neighbors • Existing business program needed a boost • Little brand awareness 35 • Tight labor market
- 36. Greater Richmond Work Program • Business Attraction Regional Marketing • Business Retention and Expansion • New Business Formation & Small Business Support • Talent Development and Promotion 36
- 37. Greater Richmond Tactics • Sound foundation in strategic plan – clear message to investors and community – Our work has impact - economic impact • Revisited the plan assumptions – cluster study • Reoriented work programs to support the above goals • Developed internal scorecards and management tools • Refined data systems and tracking methodology 37
- 38. Greater Richmond Tactics • Business Attraction Regional Marketing – Cluster Focus – Domestic/International – Engage Stakeholders • Business Retention and Expansion – Cluster Focus – High Growth – High Impact • Talent Development and Promotion – External Market – Cluster Focus – Graduate Retention – High Demand Occupations • New Business Formation & Small Business Support 38 – Innovation – Peer Learning
- 39. So, What Do We Measure? 39
- 40. How do we share? 40
- 41. Greater Richmond Results • Specific job creation and investment (and more) goals – by program of work • Attraction program emphasis on quality vs. quantity • Invested in web-based CRM, workflow system • Launched refined collaborative BR&E program • Launched talent portal – RichmondJobNet.com • Launched virtual relocation resource – LoveWhatYouFind.com • Scorecards developed for management, board and investors 41
- 42. Greater Richmond’s Learnings “We can’t control the direction of the wind, but we can adjust our sails.” • Jobs & capital investment still matter • Link & understand process, output and outcome metrics • Alignment, accountability and transparency • Change when conditions change • Embrace technology • Explore “link and leverage” strategies • Focus on conversion • Transactional vs transformational 42
- 43. Case Study 3: Brenham Economic Development Foundation 43
- 44. Brenham Challenges • In the shadow of Houston and Austin • Seen as more of a tourism destination • Small pool of skilled labor • Lack of available commercial buildings 44
- 45. Brenham Goals • Build awareness with site selectors • Familiarization tours with commercial real estate brokers • Reach out to existing primary employers • Strong workforce development partnership with local college and school districts • A leading website that gets 7,000 + visits per year 45
- 46. 46
- 47. Brenham Tactics • Direct e-mail campaigns INSERT SCREENSHOT OF • Site visits and windshield SURVEY or SAMPLE EMAIL tours CAMPAIGNS • Survey with local primary employers • Industry tours and training programs • Relevant and updated website content 47
- 48. Brenham Results • 66% increase in the number of conversations • 100% increase in the number of proposals submitted • 50% increase in the number of ongoing prospects • Top micropolitan in Texas by Site Selection magazine for second year in a row 48
- 49. Brenham Learnings • Embrace regionalism • Make yourself known • Business retention & expansion is the meat and potatoes of rural economic development • Workforce development is a major ingredient for success 49
- 50. How can we For information, call: implement high performing marketing programs in our own communities? Guillermo Mazier Business Development, Atlas Advertising guillermom@atlas-advertising.com 50 www.twitter.com/atlasad
- 51. Putting High Performance Into Practice: The Steps 1. Benchmark your community – get a baseline. 2. Cut through the clutter: Set goals and 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. 51
- 52. 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. 52
- 53. Implement the basics 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 53
- 54. Basics +1: Tactics that drive awareness and traffic to your website. 54
- 55. Basics +2: Tactics that convert website visits to conversations. 55
- 56. Basics +3: Tactics that go straight to conversations. 56
- 57. Celebrate your success! 57
- 58. Chat your Answer: What is one thing that you learned in today’s webinar? 58
- 59. Q+A 59
- 60. Thank You! 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 LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace 60