marketing your community and managing prospects 2010

““Marketing Your CommunityMarketing Your CommunityAndAnd

Managing ProspectsManaging Prospects””

NYS Basic Economic Development CourseNYS Basic Economic Development CourseWednesday, June 23, 2010Wednesday, June 23, 2010

3:30 – 5:00 P.M.3:30 – 5:00 P.M.University at AlbanyUniversity at Albany

Part I - ECONOMIC DEVELOPMENT Part I - ECONOMIC DEVELOPMENT MARKETINGMARKETING

Marketing and SalesMarketing and Sales

What is marketing?What is marketing? To communicate about a product or To communicate about a product or

service, the purpose of which is to service, the purpose of which is to encourage recipients of the encourage recipients of the communication to purchase or use communication to purchase or use the product or service.the product or service.

Marketing and SalesMarketing and Sales

What is marketing?What is marketing?

The process of planning and executing The process of planning and executing the conception, pricing, promotion, and the conception, pricing, promotion, and distribution of ideas, goods, and distribution of ideas, goods, and services to create exchanges that services to create exchanges that satisfy individual and organizational satisfy individual and organizational goals.goals.

Marketing and SalesMarketing and Sales

What is marketing?What is marketing?

The process of identifying and communicating The process of identifying and communicating with qualified prospectswith qualified prospects

The ability to gain interest in your product or The ability to gain interest in your product or service from the customer service from the customer

What is sales?What is sales?

The ability to deliver what the customer wantsThe ability to deliver what the customer wants

Marketing And SalesMarketing And Sales

The Marketing Planning ProcessThe Marketing Planning Process

Start with a StrategyStart with a Strategy

Strategy Encourages GrowthStrategy Encourages Growth

Budget Limits GrowthBudget Limits Growth

Budget Says “Can’t do it”Budget Says “Can’t do it”

Strategy Says “Do it or fail”Strategy Says “Do it or fail”

Create a Marketing PlanCreate a Marketing PlanED Marketing Expert Eric Canada SaysED Marketing Expert Eric Canada Says

After building and implementing After building and implementing dozens of marketing plans, it has dozens of marketing plans, it has become clear that there are two become clear that there are two critical elements:critical elements:

It must be simpleIt must be simple It must address points of challengeIt must address points of challenge

Create a Marketing PlanCreate a Marketing Plan

1.1. Mission StatementMission Statement2.2. SWOT AnalysisSWOT Analysis3.3. StrategyStrategy4.4. ClientsClients5.5. Target AudiencesTarget Audiences6.6. Goals and ObjectivesGoals and Objectives7.7. ResourcesResources8.8. Strategic PartnersStrategic Partners9.9. PositioningPositioning10.10. PromotionPromotion

© 2002 Blane Canada, Ltd. Marketing Plan Template© 2002 Blane Canada, Ltd. Marketing Plan Template

Create a Marketing PlanCreate a Marketing Plan

11.11. Communications Plan Communications Plan

12.12. Sales PlanSales Plan

13.13. 11stst Year Action Plan Year Action Plan

14.14. Evaluation CriteriaEvaluation Criteria

15.15. Executive SummaryExecutive Summary

16.16. End NotesEnd Notes

© 2002 Blane Canada, Ltd. Marketing Plan Template© 2002 Blane Canada, Ltd. Marketing Plan Template

Create a Marketing PlanCreate a Marketing Plan

Create a Plan based on your StrategyCreate a Plan based on your Strategy

Don’t hold back on the ResearchDon’t hold back on the Research

Be Realistic about your TargetsBe Realistic about your Targets

Be Objective about your Community’s Be Objective about your Community’s Advantages and DisadvantagesAdvantages and Disadvantages

Your Materials must be High QualityYour Materials must be High Quality

Create a Marketing PlanCreate a Marketing Plan

From 65 to 80% of all new jobs come From 65 to 80% of all new jobs come from existing business expansionsfrom existing business expansions

Identify a Unique Selling Proposition!Identify a Unique Selling Proposition!

Define Success before you begin!Define Success before you begin!

Marketing And SalesMarketing And SalesWhen Marketing -Think Regionally!When Marketing -Think Regionally!

Implementing Your PlanImplementing Your PlanGetting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use

AdvertisingAdvertising

Implementing Your PlanImplementing Your Plan

Getting Your Message Out - Tools You Can UseGetting Your Message Out - Tools You Can Use

Public RelationsPublic Relations

Implementing Your PlanImplementing Your Plan

Web Sites and EmailWeb Sites and Email

Implementing Your PlanImplementing Your Plan

Web Sites and EmailWeb Sites and Email

Implementing Your PlanImplementing Your Plan

Web Sites and EmailWeb Sites and Email

Implementing Your PlanImplementing Your Plan

Trade ShowsTrade Shows

Implementing Your PlanImplementing Your Plan

Direct MailDirect Mail

Implementing Your PlanImplementing Your Plan

Networking/Special EventsNetworking/Special Events

Implementing Your PlanImplementing Your PlanNetworking/Special EventsNetworking/Special Events

Implementing Your PlanImplementing Your PlanOne-on-One MeetingsOne-on-One Meetings

Developing the BudgetDeveloping the Budget

Major Expense ItemsMajor Expense Items

• What can you accomplish using in-house What can you accomplish using in-house resources, board members or strategic resources, board members or strategic allies?allies?

• What needs to be contracted out?What needs to be contracted out?

• How do you raise the money you need?How do you raise the money you need?

Developing the BudgetDeveloping the Budget

Funding your Marketing ProgramFunding your Marketing Program

• Annual Outreach to Local Businesses that Annual Outreach to Local Businesses that benefit from Economic Developmentbenefit from Economic Development

• Local Government (if elected officials are ready Local Government (if elected officials are ready to accept that marketing does not always to accept that marketing does not always produce immediate ribbon-cuttings)produce immediate ribbon-cuttings)

• Grant Programs – State, Utilities, other Grant Programs – State, Utilities, other

The Latest Trends The Latest Trends Social MediaSocial Media

• FacebookFacebook• LinkedInLinkedIn• TwitterTwitter• You TubeYou Tube

Virtual familiarization toursVirtual familiarization tours• www.gotomeeting.comwww.gotomeeting.com • Keyhole Technology/Google EarthKeyhole Technology/Google Earth

Marketing to attract workforceMarketing to attract workforce• ““Come Home to ….” CampaignsCome Home to ….” Campaigns

The Latest Trends The Latest Trends

Search Engine MarketingSearch Engine Marketing• GoogleGoogle• YahooYahoo• BingBing

Fully integrate GIS into your web siteFully integrate GIS into your web site• Fast GIS Fast GIS http://www.fastgis.biz/http://www.fastgis.biz/ • Rolta Rolta http://www.rolta.de/http://www.rolta.de/ • Zoom Prospector Zoom Prospector http://www.zoomprospector.com/http://www.zoomprospector.com/ • ESRIESRI http://www.esri.com/http://www.esri.com/

Should I Sell or Market?Should I Sell or Market?

Market or Sell?Market or Sell?

Are we collecting leads or trying to Are we collecting leads or trying to attract investment and jobs to our attract investment and jobs to our

communities?communities?

Always work the prospects that you Always work the prospects that you have, before you work on the have, before you work on the prospects you hope to have!prospects you hope to have!

Marketing And SalesMarketing And Sales

““Prepared Communities Win”Prepared Communities Win”Mark SweeneyMark Sweeney

McCallum Sweeney ConsultingMcCallum Sweeney Consulting

Prepared Communities WinPrepared Communities Win

Site Location Studies are Shorter and Shorter

They use Technology and Data Bases

They are Market Driven & Cost Driven

They seek Existing Facilities & Infrastructure

Decision Making is Much Faster

Lead and Prospect ManagementLead and Prospect Management

Part II Part II Lead and Prospect ManagementLead and Prospect Management

Your Marketing Plan is Producing ContactsYour Marketing Plan is Producing Contacts

Are You Prepared??????Are You Prepared??????

Part II Part II Lead and Prospect ManagementLead and Prospect Management

Turning Leads into ProspectsTurning Leads into Prospects

• Recognize a “Good Lead” and follow-upRecognize a “Good Lead” and follow-up• Recognize a “Bad Lead” and follow-upRecognize a “Bad Lead” and follow-up

ALWAYS FOLLOW-UP – NO MATTER WHATALWAYS FOLLOW-UP – NO MATTER WHAT

Lead and Prospect ManagementLead and Prospect Management

Site Selection is a Process of EliminationSite Selection is a Process of Elimination

• Your job is to keep your community in the Your job is to keep your community in the competitioncompetition

• Ask questionsAsk questions

• Credibility is something that is earnedCredibility is something that is earned• Don’t assume anythingDon’t assume anything

• Confidentiality is a must Confidentiality is a must • A breach could end the gameA breach could end the game

Prospect ManagementProspect Management

Prepared Communities WinPrepared Communities Win

• Know Your ProspectKnow Your Prospect

Why are they expanding or relocating?Why are they expanding or relocating? What are the decision drivers?What are the decision drivers? Their organizational structure and culture?Their organizational structure and culture? The products or services they provide?The products or services they provide?

Prepared Communities WinPrepared Communities Win

According to Area Development Magazine’s 21st Annual Survey published in January 2007

78% of companies performing a site search begin by looking for an existing facility. This is up from 73% in 2006

Of the 78% of companies looking for an existing building, only about one in four find one that suits their needs.

So, you must also have a great site or sites!!

Prospect ManagementProspect Management

Prepared Communities Win Prepared Communities Win

Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements

For ManufacturingFor Manufacturing

• Infrastructure – Water, sewer, powerInfrastructure – Water, sewer, power• Ready-to-go sites – “Shovel-Ready” is the standardReady-to-go sites – “Shovel-Ready” is the standard• Logistics – access to markets via highway, rail, airLogistics – access to markets via highway, rail, air• Skilled workers – availability, skills, vocational Skilled workers – availability, skills, vocational

trainingtraining

Prospect ManagementProspect Management

Prepared Communities Win Prepared Communities Win

Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements

For Big Box Distribution CentersFor Big Box Distribution Centers

• Large Sites – 2,100’ x 2,800’ or 2,400’ x 2,800’ Large Sites – 2,100’ x 2,800’ or 2,400’ x 2,800’

(this is changing)(this is changing)• Logistics – access to markets via highwayLogistics – access to markets via highway• Infrastructure – Water, sewer, powerInfrastructure – Water, sewer, power• Workers – availabilityWorkers – availability

Prospect ManagementProspect ManagementPrepared Communities Win Prepared Communities Win

Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements

For Customer Service CentersFor Customer Service Centers

• Available spaceAvailable space with telecom, reliable power, open floor planwith telecom, reliable power, open floor plan

• Available, trainable work forceAvailable, trainable work force Concentration of customer contact centersConcentration of customer contact centers Two and four year collegesTwo and four year colleges Work ethic and service cultureWork ethic and service culture

Prospect ManagementProspect Management

Prepared Communities Win Prepared Communities Win

Know Your Prospect’s Site Location RequirementsKnow Your Prospect’s Site Location Requirements

For Data Centers For Data Centers Conflicting Requirements and Few JobsConflicting Requirements and Few Jobs

• InfrastructureInfrastructure Heavy, reliable power, fiber/telecom Heavy, reliable power, fiber/telecom

• Remote LocationRemote Location Proximity to a potential hazard is a deal–killerProximity to a potential hazard is a deal–killer No rail, airports, highways nearby; No gas lines, No rail, airports, highways nearby; No gas lines,

environmental issues, etc.environmental issues, etc.

Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality

Know Your CompetitionKnow Your Competition

• Identify Other Communities on the Short ListIdentify Other Communities on the Short List• Assess their Advantages and DisadvantagesAssess their Advantages and Disadvantages• Enhance Your Position, if Possible.Enhance Your Position, if Possible.• Be Respectful of your CompetitionBe Respectful of your Competition• Emphasize your Community’s StrengthsEmphasize your Community’s Strengths

Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality

Working with Site Location ConsultantsWorking with Site Location Consultants

Companies Hire Consultants for Companies Hire Consultants for Different Reasons and Sometimes for Different Reasons and Sometimes for Different Sections of the Location Different Sections of the Location and/or Site Search and/or Site Search

Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality

Working with Site Location ConsultantsWorking with Site Location Consultants

• Anyone Can Call Themselves a ConsultantAnyone Can Call Themselves a Consultant

• Qualify the Consultant as you would Qualify a Qualify the Consultant as you would Qualify a Suspect or LeadSuspect or Lead

• Be Responsive Be Responsive

Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality

Working with Site Location ConsultantsWorking with Site Location Consultants

• The RFI - Answer the Questions!The RFI - Answer the Questions! Don’t respond with brochures Don’t respond with brochures

• Meet Their DeadlinesMeet Their Deadlines No matter how challengingNo matter how challenging They are usually realThey are usually real

• Follow-up and Establish a RelationshipFollow-up and Establish a Relationship• Be an “Expert Intermediary”Be an “Expert Intermediary”

Prospect ManagementProspect Management Maintain ConfidentialityMaintain Confidentiality

The VisitThe Visit• Work with the Prospect or Consultant on the Work with the Prospect or Consultant on the

Itinerary and don’t deviate from it (unless they Itinerary and don’t deviate from it (unless they request it)request it)

• Assemble and Coach your TeamAssemble and Coach your Team• Include only Necessary Players (Include only Necessary Players (if you can help itif you can help it))• Practice, Practice, Practice Practice, Practice, Practice (do a dry run)(do a dry run)

• Be Efficient – Communicate; Don’t GuessBe Efficient – Communicate; Don’t Guess• Leverage Required Resources Leverage Required Resources • No Surprises!No Surprises!

Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality

The Presentation during the VisitThe Presentation during the Visit

• Keep it focused on the vital information that Keep it focused on the vital information that the prospect or consultant requiresthe prospect or consultant requires

• Leverage required resourcesLeverage required resources• ““Practice, Practice, Practice” Practice, Practice, Practice” • Don’t Blow It – If you are not a good Don’t Blow It – If you are not a good

presenter, use a board member or allypresenter, use a board member or ally

Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality

The Site TourThe Site Tour

• Assemble your team - The experts Assemble your team - The experts mustmust be presentbe present

• Now is the time to sellNow is the time to sell• Try to have all the answers, but don’t Try to have all the answers, but don’t

guess. If in doubt just say, “I don’t know, guess. If in doubt just say, “I don’t know, I will get you that information”I will get you that information”

• Know the sites well – don’t stumbleKnow the sites well – don’t stumble

Prospect ManagementProspect ManagementMaintain ConfidentialityMaintain Confidentiality

The Follow-up after the VisitThe Follow-up after the Visit

• Promptly address all issues raisedPromptly address all issues raised• Promptly respond to all new information Promptly respond to all new information

requests requests • Make final incentive offer (if required)Make final incentive offer (if required)• Maintain confidentialityMaintain confidentiality

Prospect ManagementProspect ManagementFinally You Don’t Have to Maintain ConfidentialityFinally You Don’t Have to Maintain Confidentiality

The AnnouncementThe Announcement

• Managing the announcement if you winManaging the announcement if you win• Managing the Announcement if you lose Managing the Announcement if you lose • Conducting the exit interviewConducting the exit interview• Maintain a database of vital information Maintain a database of vital information

about wins and lossesabout wins and losses

THANK YOUTHANK YOUQuestions?Questions?