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How High Performance Economic Development Marketing

Drives Economic Resiliency

‘Changing the Debate About Whether or not Economic Development Makes a Difference’

NEDA 2013 Annual Conference

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We are Atlas Advertising And we do things like this…

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Tucson concepting

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Screen shot of Jobs Ohio Promotion of Atlas developed GIS mapping tool, easily view able on IPad devices

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That lead to things like…

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“If I thought for a minute that I

could get the same product in

the end, even for a higher price,

by going local, I would have

done it,” Downs said last week.

“I have no interest in sending

money away to Denver except

to get the best product.”

-Timothy Downs, CEO City of Dayton Office of

Economic Development

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All because…

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We Believe Economic Development Makes a Difference!

Our Goal: To Create Vital Communities

Our process, knowledge and background enables us to take a

comprehensive approach to economic development

marketing and attraction.

Featured Clients:

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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 can we implement high performing marketing programs in our own communities, as a tool to drive economic resiliency?

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A few principles that drive (or should drive)

economic development

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What worked 20-50 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.

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:

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The Framework and How it Relates to NEDA Members

1. Getting buy-in 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. Implement strategies and

technology platforms that

drives those goals.

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EDO Performance, benchmarked by population

POPULATION YEARLY WEB VISITS

INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

Less than 25,000 7,779 43 115 $24,951,083

25,001 to 100,000 5,790 90 411 $81,263,040

100,001 to 250,000 23,339 112 737 $330,501,622

250,001 to 1,000,000 48,533 157 1,696 $335,914,394

1,000,000 to 2,500,000 42,753 327 3,035 $378,869,231

Over 2,500,000 23,516 603 6,134 $502,258,333

Average for all Sizes 25,562 146 1,293 $234,366,814

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EDO Performance, benchmarked by staff size

STAFF SIZE AVERAGE YEARLY WEB VISITS

AVERAGE INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

1 11,603 56 176 $45,676,585

2 to 3 9,269 85 493 $186,364,000

4 to 9 45,237 161 1,696 $267,705,000

10 to 19 47,977 184 2,859 $469,212,381

20 or more 49,836 799 6,279 $548,110,000

Average for all Sizes 25,562 146 1,293 $234,366,814

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EDO Performance, benchmarked by budget

Budget Level AVERAGE YEARLY WEB VISITS

AVERAGE INQUIRIES PAST 12 MONTHS

AVERAGE JOBS ANNOUNCED LAST 12 MONTHS

AVERAGE CAPITAL INVESTMENT ANNOUNCED LAST 12 MONTHS

Under $100,000 1,240 45 85 67,050,000

$100,000 to $249,000 5,635 59 300 40,047,027

$250,000 to $499,000 12,006 85 542 219,461,767

$500,000 to $999,000 13,755 129 712 210,183,125

$1,000,000 to $2,500,000 30,552 335 1,617 212,146,897

Over $2,500,000 68,819 193 3,987 499,600,294

Average for all Sizes 25,562 146 1,293 $234,366,814

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Highs and Lows: Some EDO’s and communities outperform others

Budget Level LOW JOBS ANNOUNCED

HIGH JOBS ANNOUNCED

LOW CAPITAL INVESTMENT ANNOUNCED

HIGH CAPITAL INVESTMENT ANNOUNCED

LOW INQUIRIE

S HIGH

INQUIRIES

Under $100,000 20 243 $500,000 $442,000,000 5 214

$100,000 to $249,000 2 1,500 $600,000 $250,000,000 1 400

$250,000 to $499,000 5 5,000 $300,000 $4,500,000,000 3 600

$500,000 to $999,000 4 4,283 $235,000 $2,500,000,000 15 670

$1,000,000 to $2,500,000

35 8,000 $10,000,000 $650,000,000 5 4,000

Over $2,500,000 6 16,835 $1,500,000 $2,200,000,000 3 1,425

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Can the Northeastern United States Compete?

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Yes.

The organization that has had more conversations with companies than any

other over the past 12 months is:

State of CT Department of Economic & Community Development!

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How Communities are Performing Using This Model

The first cut at the data gave us an overall baseline for the performance of

the average participating EDO:

The average community gets: 24,635 visits to their website per year

or 2,053 per month or 474 per week

or roughly 103 per working day

The average community announced: 1,319 jobs in the last 12 months

or 109 per month or 25.3 per week

or 5 per day

The average community announces: $202,805,022 in capital investment per year or $16.9 million per month or $3.9 million per week or $780,000 per day

The average community generates: 143 conversations per year or 12 per month or 3 per week or 1 every other working day

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How can we implement High Performance Marketing Programs in our own communities, as a tool

to drive economic resiliency?

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So what should we be focusing on? • Attracting and retaining

firms?

• Attracting and retaining

top flight workforce,

including freelancers?

• Attracting and retaining

entrepreneurs?

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What does marketing look like for attracting firms?

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What does marketing look like for attracting workforce?

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What does marketing look like for attracting workforce?

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What does marketing look like for attracting entrepreneurs?

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Is your community prepared to be relevant in the following?

• Attracting and retaining firms?

• Attracting and retaining top flight workforce,

including freelancers?

• Attracting and retaining entrepreneurs?

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We are not sure EDO’s should be choosing one path.

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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.

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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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Thank you! Contact information: 1128 Grant St 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