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"Economic Development Marketing Letter"

 

A Blane, Canada Ltd. Publication

 

Nationally Recognized Experts On Economic Development Marketing and Retention

 

http://www.blanecanada.com

http://www.synchronist.com

March 1999, Volume: 2, Issue: e/2 

~~~Every day ... We believe firmly that you market every day, just like you exercise, drink water, and eat every day. It's like a habit. You don't wait to be inspired or for the perfect opportunity. You don't hope to hit a home run every day either. You just do it, every day.

~~~Web designing ... We receive many inquiries about Web sites. While we have no technical experience, we are very interested in the Web as a marketing medium. Like any good marketing piece, the challenge is to deliver a razor sharp message and strong positioning. Both are often weaknesses of sites we review. To avoid these weakness, organize your site using post 'em notes on a board to help see the flow and interaction of "your community's story" (story boarding). We refer you again to "Web Sites That Suck" by Flanders and Willis, an excellent primer on the topic.

~~~That buzzword "branding" ... is an over-used crutch meaning whatever advertising and other marketing communications consultants feel they can accomplish in promoting the name of the organization and its services. Pretty soft stuff at the end of the day. Branding is no substitute for RESULTS. So, if your marketing firm is pushing branding, do yourself and your budget a favor; take a walk.

~~~Brook's Law ... is a solution to the challenge of maximizing value from a consultant and getting what you need. In recent months, two people called in need of help. Their consultant wasn't getting the job done. The final reports, now in draft form, were clearly not what these executives needed. The development professional was out voted in the decision because other members of the selection team were distracted/attracted by a low price and assumed approaches/output were equal. Now, thousands of dollars later, the results are not forthcoming. These are not isolated instances. It happens every day to development professionals. Solution: Use Brook's Law method of selecting a consultant(named after former congressman Jack Brooks).

Using Brook's Law is simple. First, ask respondents to separate their budget breakdown or price from the proposal and place it in a sealed envelope. Second, have the selection committee select the "best qualified" consultant based on selection criteria and results offered. Third, open the sealed envelopes and look at the price quoted. Finally, if the quoted price is beyond the available budget, contact the selected consultant to negotiate a price that delivers the desired results in an affordable package. This approach will improve value and increase satisfaction. Thanks to Ken Davis of Sargent & Lundy, international engineering firm, for the strategy.

~~~Four corners ... usually refers to the childhood game. Blane, Canada Ltd.'s '99 version is to work in the states of WA, CA, FL, and NY during the first quarter. Now, add in assignments in Toronto, AZ, IL, IN, OH, KY, MN, NC and WI and you have a record setting pace. How can Blane, Canada Ltd. help you during 1999?

~~~"Knock out factors"... a term site selection consultants are fond of to explain away a community's failure to attract industrial investment. Knock out factors are merely a symptom. The disease is RISK. Failure to address and manage risk in the mid-game (after promotion) and end-game (selling) strategies is a critical weakness in development marketing today. "Maximizing Results! Advanced Marketing and Complex Sales," the course... call or e-mail for dates and locations <ecanada@ix.netcom.com>

~~~WOW! ... "Stimulating presentation! Your contribution is appreciated." Said of Eric Canada by Robert Koepke, CED, former editor of Economic Development Review.

~~~Noted … by Grant Davis, a CCIM real estate broker in Salt Lake City: "My real estate signs now contain my web address in bigger print than my company name." Davis features a unique e-mail address on each property sign. When potential customers send e-mail to his address, it triggers an automatic response with a property flier sent back immediately as e-mail. How are you managing and automating follow-up? What about your industrial park sign? Source: PikeNet Dispatch

~~~Economic development sales paradox ... Some economic development professionals are expressing interest in sales training...further evidence of the accelerating sophistication of our profession. Unfortunately, most of the courses available are limited to a product concept inconsistent with an economic development environment. What experience have you had with sales training courses? Have you found any courses or books that have been helpful? Have you found anything that really relates to working in economic development? We would appreciate your thoughts. We will condense and share the replies.

~~~Speaking of replies ... As you might guess, we get a bundle of e-mail. One of the more irritating e-mail behaviors, you have probably personally experienced, is the unedited reply/forward. The reply and forward button makes it "too" easy to pop off a note while ignoring the debris cluttering the message. When replying/forwarding, edit the original message to include only enough to remind the sender/receiver of his/her original questions or purpose. It takes only a moment to delete unnecessary information, but it makes a very positive impression. Want more information? Try "Elements of E-Mail Style," David Angell and Brent Heslop, (c) 1994.

~~~Ideas are easy ... "It's execution that's hard. A group can generate dozens of ideas in one short meeting. But, to make any idea work requires: thorough research; a talented, diverse group of committed people; prioritization; and consistent rearticulation of the vision to be achieved." Quote: Jeff Bezos, CEO, Amazon.com

~~~Right words? ... "Instead of accepting information as fact, we ought to be taught that it is only a fragment of knowledge on the edge of the unknown." This leads us back to a point we have made before: it is much harder to find the right question than it is to come up with an answer. Quote: Ralph Gomoroy, President, Alfred P. Sloan Foundation, Forbes 1/11/99.

~~~Reach the commercial real estate world ... Register your economic development Web site with PikeNet. http://www.pikenet.com The PikeNet Dispacth now reaches over 6,200 real estate professionals monthly.

~~~Change and evolve! ... "Economic development is losing touch because of the speed of change." Steve Pontel, La Jolla Institute, CUED 1998 annual meeting

~~~Read our cautions ... about using technology in your presentations. In general, technology enhances presentations. However, technology can also detract. Remember what we said in our July Letter: "People today put so much effort into the computer presentation that they forget it is only an AID to the speaker." Content and delivery are vastly more important as confirmed by Presentation Magazine, 10/98.

~~~In numbers we trust ... too often! Many development organizations spend big bucks to identify target industries based on historical growth trends. This method means marketing direction is based on information 2-5 years old. This is suicidal for a marketer...ask any stock market investor. Deciding on the numbers (alone) is the worst possible way to pick a marketing direction. When developing industry profiles for clients, Blane, Canada Ltd. researches extensively to make sure the client sees a balanced picture of the industry's future opportunity.

~~~Penturb? ... So you thought since you were not in a major metro area you couldn't be labeled an "urb" (suburb, exurb). Try "penturb" on for size: a local center of activity where the central city is between 35,000 and 75,000 citizens with up to 250,000 people surrounding it.

~~~Responses ... to our questions posed in past e-mail letters:

Best general futurist: No one was identified as focused on economic development specifically. Ed Barlow, Jr. and David Pierch Snyder submitted by Steve Peterson, Alliant Utilities (WI). For a Canadian perspective, Dennis McKnight, Winnipeg, MB, Canada per Linda Williams. Jerry Thomas, Ohio Extension, will be starting dissertation work on the subject in early 1999.

~~~The oldest game ... in sales is the dance. A seller doesn't want to hear "no". The buyer, afraid of unleashing "sales attack behavior," doesn't want to say "no". Instead, buyers have learned to "promise" something in the future, betting most sales people will never be back. Sound familiar? Without a mid-game marketing strategy (a periodic call isn't enough), you're trapped in the buyer's game, on hold. Set your mid-game strategy in order to move ahead.

~~~Back office ... Effective site selection for back office operations is now based on 1) labor costs (60-70% of total cost), 2) rent expense (12-15% of total costs), 3) construction and build out, furnishings, 4) minus the economic incentives. On the last point, three articles in a recent issue of "Teleprofessional" magazine focused on the growth in incentives, playing out an immutable law of marketing: desirable short-term effects can bring negative long-term consequences.

~~~Economic impact ... Understanding a company's role in the local economy takes more than an appointment, questions, and a handshake. Blane, Canada Ltd.'s new business retention software system - "Synchronist Business Information System®" - evaluates a company's: value to the community, growth potential, risk of downsizing or relocating, satisfaction, and more with a few clicks of the mouse. For details call 630.462.9222 or e-mail <ecanada@ix.netcom.com>

Blane, Canada Ltd.
1506 Cadet, Suite 100
Wheaton, IL 60187-7380
ph 630.462.9222
fax 630.462.9210

info@blanecanada.com

http://www.blanecanada.com

http://www.synchronist.com