December 1998, Volume: 1, Issue: e/10

~~~Reality check ... in economic development many professionals know what should be done to improve marketing results. The challenge is time. If you understand how marketing can propel you to greater success, but can't take the steps to activate and maintain the process, your understanding is wasted. There is no silver bullet. No quick fix. Good marketing takes effort and persistence in the face of constant distractions.

~~~Eliminates hassle ... of changing e-mail address. Kellogg Graduate School of Business at Northwestern University offers a mail forwarding service to alums.  By completing an online application, an alum can get a free forwarding address. Using the forwarding address as an e-mail address means that when an e-mail address changes for whatever reason, all inbound mail can be redirected simply by changing one address. Bob Eder, IL

~~~Strong start ... the first "Maximizing Results! Advanced Marketing and Complex Sales" Course is now history. In the words of participants, "Some people know economic development and some people know marketing. Eric Canada demonstrates an unusually complete understanding of both. The results are new knowledge that can increase the power and effectiveness of any program as well as a new enthusiasm for economic development marketing." Kate O'Hara, Peoria, IL. "Great show in Baltimore! Enjoyable, informative, and useful." Gerry Dick, Indianapolis, IN. 

~~~Bold stroke ... and the nominees are: Memphis for "America's Distribution Center" strategy. It started with a very small distribution presence in the community and Fed Ex was still just a blip on the screen. Now there is over 145 million square feet of logistic space turning average inventory 6 times a year, reportedly the world's largest cargo hub. Chris Clifton, Memphis Chamber of Commerce, TN (Response to last month's question.)

~~~Think not ... of your economic development effort as merely a marketing entity. Think in terms of being a critical resource for "value-added information and networks." Value-added information is roughly equivalent to proprietary information that cannot be easily found elsewhere, e.g. instead of using census information, conduct a statistically valid workforce study. This requires a commitment to research, but it insures a place at the negotiating table.

~~~International Business Directory? ... Try the index or search function of International Business Resources, Michigan State University Center for International Business Education and Research at: http://ciber.bus.msu.edu/busres.htm.  Larry Nelson, MN

~~~Remarkable resource ... for industry research this Web site provides access to lots of articles from industry trade magazines, among other things. A real treasure trove of data. http://www.transium.com/

~~~"Time changes nothing! Only people with courage and initiative change things."  Rick Dickinson, IA

~~~While sitting ... through yet another economic development seminar presentation the other day, it occurred to me that the biggest problem with our profession is that we talk to ourselves too much. We keep plowing the same ground, and true change comes slowly. I believe some fresh outside influences would be a tremendous stimulus to our profession. What do you think?

~~~Synchronist ... Business Information System(tm), our newly released business retention software has sparked quite a stir. Background information, a structured survey tool, automated matrix analysis, and over 30 preprogrammed reports draws together powerful strategic information for policy decisions, resource allocation and more. Info - ecanada@ix.netcom.com

~~~Proof positive ... "It is possible to get something valuable for nothing -- Economic Development Marketing Letter by Blane, Canada Ltd. I get something valuable from every Letter."  Vern Kenas, WI

~~~Web design ... Considering frames? Don't! Aside from the clumsy look, using frames will make it hard, if not impossible, for your prospect to bookmark specific pages for quick reference. This defeats the purpose of making your information available in the first place. 

~~~"Unrelenting pressure ... oppressive pressure to be imaginative is responsible for most bad advertising. It causes people to suspend judgement, to lose sight of priorities, and to forget what they're supposed to be doing." said John Egley, ad executive in "Business Marketing" magazine.    There is a huge difference between creativity and results.

~~~Open access... newsletters are proliferating. E-mail is a great tool for speeding internal communications between development organizations and members/supporters. Now, some of those newsletters are being openly circulated for subscription. A recent example crossing our computer screen is from Steve Buser, Partnership of Southeast Texas. Their new newsletter can be seen at http://setx.org/html/newsletters/Nov98.htm

~~~Open access... newsletters are proliferating. E-mail is a great tool for speeding internal communications between development organizations and members/supporters. Now, some of those newsletters are being openly circulated for subscription. A recent example crossing our computer screen is from Steve Buser, Partnership of Southeast Texas. Their new newsletter can be seen at http://setx.org/html/newsletters/Nov98.htm

~~~Calls and e-mail requests ... come into our office asking for "great" economic development Web sites. We don't try to keep a list. We don't judge sites publicly. We will do a private analysis for clients. So, if anyone knows someone who catalogs sites, we would love to have a reference for inquiries.

~~~Opinions … As marketers we have many opinions about web site design from our perspective. The most frequent design problems we encounter at ED sites are: poor navigation/organization, sloppy printing of desired information, low value content.

~~~Spotlight partners ... Greater Richmond Partnership (VA) uses billboards to document success stories and acknowledge partners. Every partner gets a framed photo of the billboard as another gesture of appreciation. The Metro East Development Partnership (St. Paul, MN) uses newspaper ads to name partners who help create success stories.  Newspapers provide ad space as an in-kind contribution. These are excellent examples of outstanding internal marketing.

~~~Socialist push? ... Last week, a bank economist covering the Midwest suggested the Daimler-Chrysler and the Deutsche Bank-Bankers Trust acquisitions are "further evidence that equity owners of European companies are actively shifting capital out of Europe in response to the increasing political control by socialist governments." Opportunity?

~~~Green development ... is perhaps an emerging development concept advanced by Paul Hawkins of the Rocky Mountain Institute. The most visible emphasis on environmentally friendly development is in Oregon and Washington, according to Susan Blansett, CO. This is what many expect from the left coast. Yet, during a recent interview, we learned the Northwest Indiana Forum has had two environmental consultants on staff for the last two years. They work diligently with area companies to improve the quality of the environment. Very interesting.

~~~Common thread? ... OK, what do Kansas, Texas, Vermont, Spain, Nevada, Florida, Maine, Idaho, Australia, West Virginia, British Columbia, Illinois, Alaska, and New York all have in common? They are each home to recent subscribers in the growing community of our Economic Development Marketing Letter. Being digital means being everywhere.

~~~Persuade ... those prospects: 1) Avoid dull lead-in sentences. Use the opening to bond with the reader. 2) Boast about specific benefits. Then, quantify those benefits. 3) Shut your "I"s. Focus on what the reader will get, not what you want to give. "Word at Works" Susan Benjamin

~~~85% ... of business attraction opportunities are looking for an existing building according to Blane, Canada Ltd.'s research. Clearly there is a big advantage for those with buildings. Yet, the difference between spec and speculative (buildings) is more than the sum of the missing letters. Due diligence is the essential ingredient separating successful speculative building programs. Even in today's hot real estate market, there are risks.

~~~Brain trust ... thinking is a core business skill required for advancement. The fundamentals ability to: assess complex situations, solve problems, make decisions, and anticipate potential opportunities and threats. Unfortunately, our culture rewards action, a behavior that is not conducive to critical thinking. Success Magazine, October 1997