Download Marketing Strategies to Break Through the Clutter

Marketing Strategies to
Break Through the Clutter
Top 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
•
What drives location decisions?
•
Role of research – budgets, audience
•
Effective marketing:
– Phase I – Ready
– Phase II – Market
•
Marketing methods that work
•
What makes a great brand?
•
Measurement means everything
•
Q&A
Economic Development
Defined for Nashville
Nashville Basics
•
1.6 million population – growing 1.5x
U.S. average
•
College town – 100k students
•
Business case makes sense – low
operating costs, no personal income
tax
•
Quality of life
•
Industry
– 300 health care headquarters
– Automotive & consumer goods
manufacturing
– Music & entertainment industries
– Extraordinarily high
concentration of entrepreneurs –
second only to Austin, TX
What Drives Location
Decisions?
•
Varies entirely by industry sector
•
Mainly fact-based, not personal
•
Our role – facilitate, inform, persuade
•
Proactive marketing can:
– Change perceptions
– Raise awareness
– Fill the pipeline
Utilizing
Research to
Set Marketing
Priorities &
Budgets
Source: DCI, 2008
Source: DCI, 2008
Target Audiences
(in priority order)
•
Existing pipeline of prospects – relocations & expansions
•
Targeted marketing to top 200 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
•Local business leaders and opinion leaders
Getting the talk on the street right
•
Proactive pursuit of relocations in five sectors
HQs, health care, music/entertainment, advanced manufacturing, logistics
Marketing
to Break
Through
the Clutter
Marketing Phase I
•
Ready for the prospect
•
Measures in place
•
Marketing strategy in place
•
Then, and only then, ‘marketing’
What is ‘Ready’
•
All pertinent facts on community easily
accessible-transferable
– Electronically
– Hard copies
•
Community leaders / HR experts in line
•
Response process in place
•
Measurement standards in place
•
Staffed appropriately
Essential Tools for Success
•
Demographics –
IEDC data
standards
•
College &
university profiles
• Access to elected
officials and city
leaders
•
Maps, maps, maps
•
Wage data
•
Detailed information
on sites & buildings
•
Unionization data
•
•
Transportation data
(traffic counts, flights
per day, runway
lengths, etc.)
Access to policy
makers
•
Access to research
on competitors
•
Access to HR
experts & CEO’s in
market
• Not just access, but
good relationships
with the dealmakers
– State ECD, TVA
• Process for
responding to RFPs
• Detailed incentives
data and process
• Everything else..
Develop a Marketing Plan
•
Multi-pronged & multi-phased
•
Consistent look and message over time
•
Doesn’t have to cost a lot of $$
•
Long sales cycle – relationships versus immediate sales
•
Leverage, leverage, leverage
Most Used Marketing Methods
•
Advertising
•
Direct mail & email
•
Site consultant
campaigns
•
Internet, social media
and online marketing
•
Special events
•
Public relations –
national and regional
•
Face-to-face visits
•
Trade shows
•
Magazines
Web and Social Media
• Web page is most critical part of
program…..‘cuts’ being made before a human
contacted now
• Informational, yes, but PERSUASIVE
• Phone contact on every page
• Wide and shallow versus deep and narrow
• Email by permission only
Social Media
•
Strategy
– Create organizational presence
– Gradual immersion
– Supplement to existing methods
– Serve as independent news publisher/information center
•
Goals
– Attract 500 followers on Twitter
– Attract 500 fans on Facebook
– Generate 250 visits per month to web site
– Communicate consistently & frequently
Twitter
1524
Facebook
685
Web Site Traffic From Social
Media
Lessons
•
•
•
•
Be real & conversational
Be consistent in frequency
Observe what others are doing
Play with it
– Test how often, what time of day, etc.
– Try different wording, post different things on different mediums
Public Relations
2005 & 2006
#1 City for
Business
Expansions and
Relocations
• Business climate
• Work force quality
• Operating costs
• Ease of working with local
officials
Public Relations
• Worth more than advertising
• Target writers at specific publications
– Get editorial calendars
– Know your target publications
• Keep your eye on “rankings”
• Reprint articles are great direct mail
• Focus on ‘cool companies’ in your town
Entrepreneurs = Economic Development
Sole proprietorships’ contribution to city jobs
Source: U.S. Department of Commerce: Bureau of Economic
Analysis
Tell Your Success Stories
Peer to Peer Marketing
•
“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
Event Marketing
Event Marketing
Event Marketing
Event Marketing
Site Consultants
•
Easiest target to reach – highest overall
impact on relocations
•
Build a database
•
Make their jobs easy and they’ll come back
with other projects
•
Answer fast, complete, in their format
•
Event marketing works
•
Don’t waste their time
Face to Face
•
Best ‘relationship builder’
•
Best method if done right
•
Worst method if done wrong
•
Don’t waste their time – pertinent information
• Who’s coming
• Who’s going
• Policy changes
•
Listen listen listen
Direct Mail / Email
• Simple is good if its something they want to know
• Layoffs & Closures….Market them!
• Postcards, announcements, newsletters, testimonials
• No to fact books & videos
• Key is a quality list
• Metric to measure success
Great Brands
Include
Functional +
Emotional
Benefits
Nashville’s Brand:
• Creative
• Entrepreneurial
All communications reflect it
Brand Promise
Nashville is a thriving city filled with risk-takers. Every day,
people find new ways to take advantage of opportunities
offered, to create something from nothing, to make their
mark, to realize their dreams. At the center of this spirit is
the Nashville Area Chamber of Commerce.
At the chamber you:
Belong….collaborating with others, energized by common
drive and passion;
Engage….sharing a vision for the future and sharing the
collective influence to make it happen;
Lead….impacting our region, transforming our future;
Prosper….realizing opportunities that grow your business
and enrich our communities.
Our challenge:
Taking ‘Music City’ and
translating it into broader
economic development value
The Importance of
Measurement in
Economic
Development
Recruitment Pipeline
FY 2009-2010
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
Existing Business Pipeline
FY 2009-2010
Type of
Operation
Project
Numbers
Investment
Square
Footage
New
Employees
HQ
10
$61,550,000
285,000
452
Back Office
10
$15,385,950
355,000
1,045
Manufacturing
10
$63,000,000
100,000
555
Total
30
$139,935,950
740,000
2,052
Partnership 2010 Progress Report
FY 2008-2009
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%
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%
Objectives
5.3%
Progress Report
FY 2008-2009
•102 relocations and expansions
• 7,396 new jobs
• $1.9 billion in capital investment
• 7.2 million square feet of space
Marketing Strategies to
Break Through the Clutter