April 1999, Volume: 2, Issue: e/3 

~~~Credibility meter...You get no "points" for superior product/service knowledge. That is expected! What drives credibility up? Superior client understanding drives credibility. How well do you know the needs and preferences of your clients and prospective clients (internal and external)?

~~~Been there..."I can't justify recommending your community for our new facility because of the low unemployment rate." Sound familiar? Try using the Applicant/Availability Ratio. Contact larger existing employers. Ask them to put the number of positions available in their job advertisement. Then, ask them to count the applications they recieve. You might get results like 1,680 applications for 240 jobs (7:1). With several companies participating, this becomes a marketable, defensible number to counter a UI rate of say 2.3%, validating a potentially huge pool of underemployed. Source: Greg Williams, MO

~~~Gov.data.resource...There is a new Web site providing links to over 125 public, university, and private sources of regional socioeconomic data. http://www.econdata.net

~~~Internal marketing...should be a central part of any marketing plan. The first annual "Manufactured in Florida Exhibition" will be held in the Capital Rotunda in Tallahassee. It is being hosted by Florida Manufacturing Technology Center (FMTC), an Enterprise Florida affiliate. "Manufactured in Florida Exhibition" is targeting state legislators to heighten public awareness of the importance of manufacturing and its positive effects on the Florida economy. This is an excellent example of taking the message to investors in a tangible way. Kudos to Enterprise Florida.

~~~Interesting question...A comment after a discussion of selling in economic development (Maximizing Results! Advanced Marketing and Complex Sales course) suggested coverage of closing techniques. This raises the question, is it possible to force a close with closing techniques in our business? What do you think? E-mail us at ecanada@ix.netcom.com  We will summarize comments in a future Marketing Letter.

~~~Name dropping...has always been an important part of confidence building in a selling relationship. In our course we advise development professionals to use their bio (not a job resume) to build credibility by highlighting related experience. Names of past clients successfully served relieves "risk". But, real "risk reduction" comes from demonstrated achievements. Use short (4-6 line max.) case studies highlighting what you can contribute to their site selection process. Source: Maximizing Results! Advanced Marketing and Complex Sales.

~~~Tapping financial sources ... "The primary sources for funding are those who have a stake in the economic growth of the community like: financial institutions, utilities, media, and development. These companies are always in the forefront and driving the kinds of programs that require funding at a higher level." ROI (return on investment) calculations are powerful tools for demonstrating value. Quote: Howard Benson, President of NCDS, GA 

~~~Struck a cord ... with our past reference to the book "Web Pages That Suck." Based on the volume of responses, Web site design appears to generate frustration among development marketers. Vincent Flanders, co-author of the book, has an excellent Web site (but be advised, he breaks some of his own "rules"). He offers a free site analysis (the "GIF Wizard") so you can find out how your web site measures up. If you do "test" your site, let us know what your results are. http://www.webpagesthatsuck.com/

~~~New standard of excellence ... for business retention in Washington State is built around Blane, Canada Ltd.'s Synchronist Business Information System Software^®. Already in use in 15 states, Washington's decision is just one more indication of the Synchronist System's growing popularity among development professionals looking for a substantive approach to business retention. Contact us for more information at ecanada@ix.netcom.com

~~~Maintain marketing objectivity ... by putting yourself in the customer's place. Three tips for being where the prospect is: 1) Pretend you're the prospect/member: Visit your own web site or mail your promotion materials home, then objectively see how they might be improved. 2) Listen to your customers: Talk to customers whenever possible, either on the phone or via e-mail. 3) Listen to your staff: Ask about their experiences with the organization's procedures and policies as well as with prospects/members they serve. Source: Guerrilla Weekly for 1/26/99, http://www.gmarketing.com

~~~SPREAD THE WORD! ... Do you circulate the Economic Development Marketing Letter by forwarding it to your colleagues and friends? Thanks. Encourage them to sign up for their own copies? It's free to anyone in economic development with an e-mail address. "Please keep me on your list. We value your letter. I forward it to 14 other professionals in Economic Development in our company." Bob Hicks, MS

~~~Web site promotion software ... "These are the best Web site promotion software tools I've found: Submit Spider - PRO -- http://virtual-stampede.com and Submit Wolf - PRO -- http://www.msw.com.au/swolf/. I have used both to register my sites to thousands of search engines and they work, quick and easy! It sure beats the old days of having to manually register them." George Roman, Speakers Net News <speakerNet@aol.com>, 4/24/98, Rebecca Morgan and Ken Braly editors.

~~~Responses ... to past questions.

~~~R&D in ED ... "Yes!!! Economic development is in need of more R&D. With growth pressures #1 on the minds of voters across the country, and no inclination for the U.S. to adopt a zero-population-growth agenda, this issue will be with us for a long time to come. Another problem: Despite relative economic prosperity across the nation as a whole, many rural areas are not keeping pace or participating in the economic good times. Gaps between haves and have-nots continue to grow. If economic developers do not tackle these issues with thoughtful evaluation and more R&D, who will?  Federal and state governments should lead the way and provide a foundation on which local and regional organizations can build." Susan Blansett, CO

~~~R&D in ED ... "I do not believe the economic development industry is suffering. There appears to be a trend towards increased credibility for the profession due to three factors: increased sophistication of the profession as a whole; increased sophistication of the clients served by our profession; and increased awareness by communities that it is a very competitive world.

So far as research and development, what kind of R&D should be undertaken? Economic development is fundamentally sales and marketing. The product is the community and the manner in which one sells and markets this product is through enhancement of the strengths and minimization of the weaknesses. This product is presented to an audience that can benefit from the natural, transportation, educational and financial resources the community affords to business. If R&D is undertaken it should focus on how to adapt successful programs from around the globe and apply them in your community.

The best R&D may be to communicate more amongst the profession and afford some academicians and theorists "break-out" sessions during various annual conferences. Kirk D. Clennan, PA

~~~Sales training ... courses recommended by Marketing Letter readers:

Counselor Selling (George Fricks, GA)

SATORI or the Art of Positioning (Chris Steinocher, FL)

Sandler Sales Institute (Melinda Anderson, OR)

Consultive Selling Skills (Marty Hunt, CT)

Target Account Selling (manager's course) (Gary Pocci, IL)

~~~Branding: Part II ... "Your "branding" note (ML 3/99) provoked me.  Certainly it seems an overused and often fuzzy concept, but it needn't be. The definition that I like is 'a brand is a promise in the marketplace'. This clearly focuses the point of a brand -- what you promise to deliver is what a brand means (or doesn't)."  Well put Larry! Quote: Larry Rosenstrauch, VA

~~~Thank you!!! ... and every one of our thousands of readers who subscribe to the Economic Development Marketing Letter. We especially want to thank those who take the time to give feedback, comments, and suggestions for future issues.

~~~For more information ... about our speaking, training, consulting, research services, or publications, contact Nancy Blane, 630.462.9222, or nblane@ix.netcom.com