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"Economic Development Marketing Letter"
A Blane, Canada Ltd. Publication
Nationally Recognized Experts On Economic Development Marketing and Retention
July 1998, Volume: 1, Issue: e/5 As we watch Phil Jackson, six-time NBA World Champion coach, ride into the sunset, we are reminded of a quote from his book, "Sacred Hoops," "...winning is ephemeral. Yes, victory is sweet, but it doesn't necessarily make life any easier the next season or even the next day. After the cheering crowds disperse and the last bottle of champagne is drained, you have to return to the battle field and start all over again." To which we'd add, life's best is found in the challenge. ~~~The Rule of 3...states, "Clients find comfort
comparing services in three and will usually do what is comfortable,"
according to Terry Richey. Apparently, in using the rule of 3, one hopes the
comparison will show two extremes and a low risk "safe" alternative
in the middle. Unfortunately, this risk management strategy doesn't always
work. "The Marketer's Visual Tool Kit" by Terry Richey, AMACOM, 1994. ~~~Speaking of risk management...the reality is that prospective clients are looking first and foremost to reduce their risk in the decision-making process. Your track record and the community's become important. What results have you produced? Who have you helped? Do you have valuable "process" experience to share with suspects? Put your experience helping companies through the location process on paper to share with prospects. It will help establish your credibility. ~~~Just completed...the
6-year plan on the future of the Southern States' Economy by the Commission on
the Future of the South. The report was
released at their conference on June 14-16.
For information, call the Southern Growth Policies Board at (919)
941-5145, or e-mail sgpb@southern.org (David Dodd, Morrison/Dodd Group, LLC) ~~~"Success Volume 1"... was selected in a national competition and given the "Marketing for Results!" Award sponsored by Blane, Canada Ltd. The announcement was made in Nashville at the AEDC conference where Eric Canada highlighted the marketing project (described in the Marketing Letter, 5/28) by Ron Kitchens, Moberly, MO. Congratulations Ron! Keep up the innovative work. ~~~Manufacturing...the wheels are turning slower. Industrial production has been virtually flat since November. Yet, inventories are still building. The sense is, then, that much of the inventory buildup is imported goods. Orders for new durable goods are still strong, leading to the conclusion that manufacturing output will probably remain on the sluggish side for a while. "Next Quarter," June 1998, Jim Hagerbaumer ~~~Pressure on exporters..."Over the past two years,
exports rose an average of $21 billion per quarter (annual rate)"
according to economist Jim Hagerbaumer. "Last quarter, though, exports
fell by $8 billion. Imports over this time rose by an average of $31 billion
per quarter. Last quarter, imports surged by $48 billion. The slump in Asia has
reached our shores reducing demand for our exports and stimulating demand for
cheap Asian goods. The unfavorable movement of net exports (exports minus
imports) will probably continue until Asian economies strengthen." Local
companies with substantial export sales will feel increased pressure.
"Next Quarter," June 1998, Jim Hagerbaumer ~~~Must read..."The current crop of Web books get wrapped up in the concept of design-for-design's sake," according to a new book by Flanders and Willis. We agree. We believe most sites lose sight of their purpose: to leverage information to build a mutually beneficial relationship. "Web Pages That Suck," by Vincent Flanders & Michael Willis is an excellent resource for a web site developer or a client. Sybex, San Francisco, 1996 ^^^^ (our highest rating) ~~~"I wish I could keep Eric on the shelf to pull him out every time I get lost in the forest. I've heard the same or similar presentation 3 or 4 times and still net new thoughts out of it. Thanks!" EDI Year 2 student comment. FYI, the reference check out our book, "Economic Development: Marketing for Results!" by Eric Canada call 630.462.9222 ~~~Confused...break thinking down into it's elements -- 1)
Facts, figures, information. 2) Emotions, feelings, hunches, intuition. 3) Caution.
Truth, judgement, fitting the facts. 4) Advantages, benefits, savings. 5)
Exploration, proposals, suggestions, new ideas. "Teach Your Child How To
Think" written by Edward DeBono, a source of our inspiration since 1975
has done it again. Forget the title. The book works for adults also. ^^^1/2,
Viking Penguin Books, 1992. ~~~Staying ahead...In the new
"Breakaway" column in the Wall Street (6/22/98), Thomas Petzinger Jr.
reviews business books that address the leading marketing challenges faced by
companies in the information era. Petzinger notes the concepts of "mass
customization, 'customer dialogue,' and online identity now confront nearly
every entrepreneur." He rated several books, but reserved his five-star
rating for just two: Theodore Levitt's classic, The Marketing Imagination
(Free Press, 1983) and Enterprise One to One_ (Currency Doubleday, 1997). We
agree. In the Marketing Letter (4/98) we gave _Enterprise One to One our four
carrot rating (our highest). The Marketing Imagination took our top rating in
June, 1994. Proving once again, "Marketing Letter" readers are ahead
of the curve on critical marketing issues. ~~~Incentives..."Industrial Incentives: Competition Among American States and Cities" a new publication of the Upjohn Institute. Promoted as "...the first significant attempt to quantify the development efforts made by state and local governments." The research focuses on tax and non-tax incentive policies in the 24 most industrialized states and 112 cities. http://www.upjohninst.org ~~~Just because you can... "One of the major components of any speech or presentation is the speaker (the source of the message). Many people forget that THEY are the presentation and NOT the visual aids. People today put so much effort into the visual aids that they often forget that those are AIDS TO THE SPEAKER," according to Lenny Laskowski. We see this at virtually every conference. The ubiquitous presentation software with "animation" distracts from the speaker and the message. Just because you can, doesn't mean you should (always). Lenny Laskowski, LJL Seminars http://www.ljlseminars.com ~~~Rising trend...One-to-One
marketing is the "hot topic" in marketing today. It is showing up at
conferences everywhere. One-to-one marketing takes relationship marketing to
the next level, intensifying the relationship and building a client supplier
dependency to increase the value of the client. There is value in the
one-to-one strategy for development organizations. It forces a closer look at
mid-game and end-game marketing strategy where development organizations are
weakest. ~~~"We very often forget that the 'must follow' of a logical argument is actually based not on logic but on a lack of creativity or information," as Edward DeBono said. This is perfect advice for every marketer. ~~~"How am I ever going to get my own work done when I'm spending time reading your newsletter and coming up with all sorts of new ideas. Could you please put one out that has nothing of value in it so I can get back to catching up on everything else I already have going on." James L. Schneider, WI -- Jim, we're working on it! ~~~"When promoting your
site, ... keep in mind that URL addresses are NOT case sensitive until after
".com," according to George Walther. "Your aim is to create an
address that is both understandable and memorable." In the Web world,
"arlingtontx.com"
and "ArlingtonTX.com"
are equal. Yet, in the world of marketing, "ArlingtonTX.com" is
easier to recognize and understand. The actual site address is unchanged; but,
how you print and promote the address makes a BIG difference. ~~~Research, marketing, or sales...How can Blane, Canada Ltd.'s diverse expertise help your organization improve results? Call us at 630.462.9222 or e-mail ecanada@blanecanada.com
Blane, Canada Ltd.
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