Archive for July, 2009
Monday, July 27th, 2009
Part 3 of 3
Immediate feedback
And, the Web provides a tangible platform for users to take action.
One of the hidden beauties of the Web is that is tells us almost immediately how effective other, more traditional advertising campaigns are working.
The “call to action” for many advertising campaigns is to visit a Web site. So, if an organization or place runs a large advertising campaign, a Web site will you immediately the effectiveness of the site. Web sites are measurable, tangible and the best way to gauge marketing efforts.
If the Las Vegas Convention & Visitors Bureau runs a $5 million advertising campaign in USA Today and the New York Times, it will know immediately whether the campaign was effective. If traffic to the site increases – and thus bookings through the Web site increase – then the campaign was a success.
If the campaign is up and running for a week or two and traffic to the site is stagnant, then changes need to be made to the campaign. Immediately.
Along the same lines, if traffic to the Web site increases dramatically, but sales on the site do not increase, then the Web site probably needs an update. The “visual value” of certain elements is not registering with the user, and changes can be made swiftly.
And, how do you know what to change? The Web site will tell you – truthfully.
Want to know which pages visitors are looking at, the Web site will tell you. If users are going to a page touting “special packages” on the site, but aren’t buying the packages, chances are they aren’t a very good deal. If shows are getting a lot of traffic, but those aren’t highlight on the home page, then you can adjust and give the user what he is looking for.
Three things a home page will do:
- Create an impression: when a user comes to your site, you must impress – and impress quickly
- Establish your position: you are promoting a location or place, literally or figuratively, for a very specific reason; make sure that comes across loud and clear
- Allow users to identify themselves: users visit a site for many different reasons, so design your site to allow all visitors to find what they are looking for in the shortest period of time the writing should match.
Read post #1 and post #2.
For more information on visual value, please contact Scott Sanders, president of GRIP Technology.
Receive a free evaluation of your Web site.
Monday, July 20th, 2009
Mark Collar is currently a partner at Triathlon Medical Ventures and Chairman of the Ohio Third Frontier Advisory Board. But, for most of our relationship, Mark was President of Procter & Gamble Pharmaceuticals and Personal Health and my line manager. I love Mark’s personal goal – “Make a difference helping good people do important things.” It is a goal he takes to heart, and I have benefited from his counsel on more than one occasion. Mark’s is an opinion I value and one I always listen carefully to.
In one of our monthly breakfast meetings at the local Big Boy restaurant, Mark and I were discussing the state of Brand America. His perspective made an impact on my thinking (as it often does), so I asked Mark if he wouldn’t mind sharing his thoughts with you.
MARK’S BLOG
One Man’s Views…
Sitting in front of my computer nearing completion of 6 years chairing the Third Frontier Advisory Board, and fully engaged in the entrepreneurial biomedical world, I thought I might stretch my typing skills and put down a few thoughts around the role of government in technology-based economic development, and what we are doing here in Ohio.
First a bit of background for complete transparency…
I worked 32 years for P&G starting out carrying a bag on the streets of Chicago and ending up as the president of the Pharmaceutical and Personal Health division. P&G is a great company and I was blessed to work within this meritocracy where everything starts with delighting our consumers.
I’ve moved from this big company experience to multi-faceted roles looking for opportunities to make a difference. In addition to my role with the $1.6 billion Third Frontier economic development program, I am on the boards of First Financial Bank, and an emerging medical device company, Atricure. I chair BioOhio and am a founding board member of BioStart in Cincinnati. I chair the Health Alliance of Cincinnati (a large hospital group), and am a venture partner at Triathlon, the largest bio-focused VC firm in the region. So, I see economic development from numerous nooks and crannies.
Here’s what I believe:
- America’s free markets will still drive economic growth and prosperity. There is a need for wise governmental regulation to provide transparency and protect the public, but not to inhibit smart, enterprising people from profiting and creating jobs for others, and poor performers from suffering some losses.
- Governmental stimulation works if does just that – stimulates the free markets by creating opportunities for entrepreneurs to increase rewards or decrease risks. The Ohio Third Frontier program has been a model for successful stimulus. Over the past 6 years we have invested about $400 million of our taxpayers’ dollars. But these precious dollars have leveraged a remarkable $3.5 billion in outside money, almost 9 to 1 leverage, and brought together innovators from the public and private sectors to focus on technology development with the potential to build or expand important industries in Ohio. We are working on solar energy innovations in Toledo, cardiovascular technology in Cleveland, and medical imaging in Columbus to name a few. In all we have created, attracted, or capitalized over 500 companies and created over 7700 jobs at an average salary of about $67,000 with major job growth to follow as these small companies and new industries take root and attract more capital to expand.
- Diverse groups of Americans will come together when opportunity exists and fair, practical programs are designed to give enterprising people a chance to compete. I have been pleased to find strong support for the Third Frontier from Democrats and Republicans, conservatives and liberals, large companies and small companies, private sector employees and public sector employees, academia and business, traditional industries and emerging industries. America was built on the basis of innovation. There is plenty of it still going on and more to nurture. Great ideas build economies… ideas that result in exciting products and services that people want to buy or use because they will improve their lives in some way, shape, or form… whether its their health, their homes, their work, or their leisure. Great innovation does not require the government to play a role, but in times of economic stress the government can prime the innovation pump and make a real difference. In times of economic prosperity, well designed governmental programs that work in partnership with industry can insure a continuing flow of great technology that will create the new industries of the future that we can’t even image today.
- America’s greatness has not been fatally deflated by the actions of a relative few. We are a country with a grand majority… a grand majority of people from all walks of life, all socio-economic backgrounds and positions, all trying to do the right things with their talents and the desire to make a difference… a grand majority of people with different levels and types of skills and roles, but all working Americans, and all believing America is a place of opportunity for those who want to get at it. The sooner we start celebrating what made America great, celebrating success, and nourishing the prevailing sense of wanting to succeed, the sooner we will leave this lethargy, and get back on our track to greatness. Let’s focus on the American grand majority and celebrate the greatness they bring.
God bless the American dream.
Tuesday, July 14th, 2009
I recently had an opportunity to become acquainted with Don Holbrook. Don is a highly successful economic development professional who specializes in structuring public backed inducement and incentive proposals that facilitate deal closures for capital investment projects. He has worked on over 100 projects to date and has a wealth of practical knowledge. Don is also a bit of a Renaissance man. He is a member of the board of directors of the International Economic Development Council, the IEDC, in Washington, D.C. Don is also on the CDC Small Business Board in San Diego, California, an SBA 504 lender covering California, Arizona, and Nevada.
If all that isn’t impressive enough, Don is also a partner/vintner in the award-winning Red Zeppelin Winery in Paso Robles, California and a published author.
I have Don as one of my friends on Facebook. He recently posted a comment about a new book he is in the process of doing research for. I thought it would be interesting to learn more about Don’s perspective around what it will take to become more competitive for global capital investment. I think you will be fascinated by his viewpoint.
DON’S BLOG
Today America is caught in the worst economic storm in most of our lifetimes. How we react to this economic transition and what actions we take as citizens, communities and our national government are critical to how we weather this perfect economic storm… peak oil, peak energy production, peak population, over consumption and a fiscal lack of proper financial management are the drivers. Simply put we can’t spend our way out of this situation and it is not a normal economic recession. The future of the American Dream is in peril. I believe and make the point in my book, that it will be the local economies that will lead the innovation revolution and create the economic turnaround and catalyst to restart the economic engines of America, Inc.
In my current book, I suggest that locales consider the following as key aspects to determining how to set their course to navigate this perfect storm: First, what is the unique strength of their economy that has the most potential considering the growth industries that will drive this next transitional period? Example Clean energy technologies. How do locales deal with their weaknesses in their business climate? Example what catalyst projects are they undertaking to create positive change and mitigation of shortfalls? Finally in the Art of the Deal Today, locales must drive their position in a focused and specific manner. They must create industry specific investor opportunities and present them with a unique public private partnership that explains the advantage of investing in these locales from the investors perspective. This changes how economic developers must approach due diligence significantly. I discuss this in my book very carefully.
Check out my book at www.wheredidmyjobgo.com to find 50 ideas and more on how to thrive and survive in this global transitional economy.
I will be publishing the third and final book in this economic trilogy in 2010… the last book is named, The Next America… and Inconvenient Economy! I would love to hear from all of you regarding your thoughts on restarting the economic engines of America, Inc. I hope you will check out my books on my official website at www.wheredidmyjobgo.com.
Thursday, July 9th, 2009
The following is a guest blog post from Stuart Mease, Special Projects Coordinator, City of Roanoke Virginia. Stuart has been leveraging both the Internet and social media as an important communication channel in the Roanoke economic development marketing plan. In this blog post, Stuart shares his experience and general observations about interactive tactics, or as he calls it “The 2010 Web”. I hope you enjoy the post and take time to share your appreciation by leaving a comment. If you would like to submit a guest blog post, simply email it to me (Ed Burghard) at eburghard@mac.com. I would like to thank Stuart for taking the time to contribute his knowledge.
The 2010 Web and Economic Development
Social media and internet marketing have recently consumed people’s attention and time. Organizations are quickly trying to determine how they can use it to achieve goals and objectives. The City of Roanoke’s Office of Economic Development has been using these technologies for the last few years in its overall strategy.
Roanoke subscribes to a three-prong, diversified approach to economic development focusing on traditional, place and people-based forms of economic development. The Internet has created a level-playing field for small cities constrained by geographical and transportation barriers, but can now more effectively compete and communicate to a larger audience via the Web. As a result, Internet marketing and specifically, social media marketing via Web 2.0 – or as Robert Scoble calls it “The 2010 Web” – has been used to generate buzz about our community.
Here is how Roanoke has incorporated The 2010 Web.
Traditional ED
From a traditional economic development perspective, the City has worked with firms like Chmura Economics and Analytics who have created its Jobs EQ technology by compiling large amounts of data from government database using feeds and packaging the data for easy analysis and dissemination to existing businesses.
Additionally, the use of ZoomProspector.com – the Google search for site selectors – also incorporates similar technology to break down the geographical barriers with its mapping of data and incorporating existing technology found with Google Street View.
“The rise of the Internet has completely changed the way that marketing of everything is done now and economic development is no exception,” said Stephen Browne, VP of Sales, ZoomProspector.com. “Internet search engines like Google harnessed the power of internet search technology to market almost anything and now specialized search engines like eBay, eHarmony and realtor.com have come along to do the same for specific markets. We believe that ZoomProspector.com is doing the same for economic development.”
Place ED
Fwix founder Darian Sharazi responded to a simple email request about including Roanoke, VA in its new online regional aggregator of online content. The site takes feeds and tags of region-specific content from other online communities and blogs and pulls it together, linking to application like Twitter, to create the 2010 Web version of a newspaper. At the time he added Roanoke, there were only 10 cities. People were going to the site and seeing Roanoke, VA compared to cities such as New York, Los Angeles, and Chicago. It was so unusual people began to inquire about this Roanoke, VA. Said Sharazi, “Roanoke has been intentional in using cutting-edge technologies to position their business, educational and government sectors.”
Additionally, hanging out online at places like city-data.com, whoisyourcity.com, bestplaces.net, craigslist, wikipedia and submitting positive information about the region as it related to people wanting to move to the area or a business doing research on a community for a relocation became a daily ritual boosting overall search engine optimization (SEO).
The establishment of sites like MyRoanokeStory.com, MyScoper.com, RoanokeNights.com, in addition to pitching local bloggers about our region was also helpful in generating good search results about Roanoke.
Without a budget for paid SEO, the organic approach was used and as a result was seen as much more authentic than paid search. As a result of this online identity, the office was contacted by a Providence, RI newspaper about some of the economic development programs and when asked how they heard about the innovative programs, the journalist said Roanoke kept coming up in his search results, so “I had to call you.”
People ED
In 2007, in order to be on Facebook, a user had to have a “dot edu” email address. Coming from Virginia Tech, I had an account. Before fan pages one could not promote and organization, region or business, but from a personal account, the City of Roanoke logo was added to the profile. As a result, The City immediately received brand recognition among one of its target audiences – recent college graduates. We held a number of programs and events using Facebook to help spread the message. That first-mover advantage went away when it was opened up to all people and others began to see the power of Facebook.
Additionally, our organic SEO had worked to our advantage for our Roanoke Connect database, which matches job seekers to employers. The site amassed 4000 unsolicited registrants coming from 46 states who wanted to be in Roanoke. We directly or indirectly connected over 100 people to jobs in the region.
One of those employers Moseley Real Estate Schools just consolidated offices from around the commonwealth of Virginia to Roanoke and quickly needed to hire people for the fast-growing small business.
“We have found this unique database to be extremely helpful in targeting and hiring candidates who want to be in Roanoke,” said President of Moseley Real Estate Schools, Guyon Moseley.
Additionally, MySpace, Twitter, YouTube, and FriendFeed have all been used as a source for open communication among current and perspective Roanokers.
Overall with each of our-three-pronged approaches we have been intentional in incorporating new technologies in how we do economic development in Roanoke. This 2010 Web is no different from the 1990 web, the 1980 fax machine, telephone, television, etc. It’s another technology that must be embraced and ingrained into the comprehensive economic development strategy of a community.
If you would like to discuss how your community can embrace The 2010 Web in its economic development strategy, then contact me.
Tuesday, July 7th, 2009
In my presentation “Baldknobbers & Branding“, I suggest there are three pillars to a successful place brand – relevance, competitiveness and authenticity.
I recently read a summary of the book “Personality Not included” authored by Rohit Bhargava. It is a fascinating read on why companies lose their authenticity and how they get it back. Here are my thoughts on how to reapply Rohit’s principles so you can ensure your community promise retains its authenticity.
- Define a credible heritage. All places have a history and a unique character. Sharing the history of your place in a way that helps potential capital investors understand how your community culture evolved is a very powerful way to begin making an emotional connection. It helps the capital investor see your location through a different lens and encourages the evaluation to move beyond the financial and asset presentation of the RFP submission. It is important that a capital investor creates a “feel” for your community and a sense of how it can connect with their company culture. With few exceptions, at the end of the evaluation process, the capital investor will generally have 2 – 3 location options that adequately meet the minimum decision criteria of what good looks like for their project. One of the differentiating intangibles is the “sense of place” a capital investor develops for your location. Telling the story of your place helps provide important context for the capital investor to understand the culture of your community and its citizens, and create that “sense of place”. Consider identifying the credible storytellers in your community and finding a practical way to involve them in your place selling process. The richness and memorability of their stories will help you differentiate your community. These are the types of engagements that create both powerful impressions and emotional connections.
- Demonstrate passion and belief. Passion for your place cannot be faked. Potential capital investors can easily recognize disingenuous rhetoric. You, and the people you involve in your selling process, must believe in your community as a great place to work and live. You should be objective and forthcoming about shortcomings versus a capital investors project criteria, but not apologetic. Your non-verbal cues often speak louder than your words and will leave an imprint on how the capital investor thinks about your community. To foster a strong sense of passion it is important to constantly communicate with the people in your selling process so they are aware of the positive news in your community. Otherwise their impressions will be shaped by your local media and may not be as balanced as you would like. If you assess the attitude of the people in your process as “glass half empty”, then you have to find a way to change it to “glass half full”. As the saying goes, your attitude will determine your altitude.
- Foster individuals instead of people. Authentic brands have individuals working for them who are passionate for and believe in the brand. You need to ensure that everybody working to promote your location believes deeply in it and wears their passion on their sleeve. If a potential capital investor feels the people promoting your community are not personally passionate about it, then they will see no reason to be passionate about it either. Find the individuals who have both the skills and passion needed to represent your place and enroll them in your process. If you have people currently involved who are not evangelistic about your community, then just maybe (as Jim Collins might say), you have the wrong people on the bus.
- Have motives beyond profit. Your community is not a smart capital investment choice for every capital project, and sometimes losing a potential deal is really a win. Sound economic development is about creating a long-term partnership so both the community and company can grow and prosper together. It should be a partnership, and not a landlord – tenant relationship. Stephen Covey talks about creating win:win solutions. But, he also suggests that “no agreement” is also an acceptable outcome. If there is not a good fit between the company and your community, “no agreement” can be a blessing in disguise. Forcing a bad match with excessive incentive dollars will only mask the fact it is not a good fit. Despite winning the deal, you will have created a lose:lose outcome. It will only be a matter of time before the company management reaches that conclusion and decides to relocate. Then the community suffers from loss of revenues and jobs. It is better to recognize a bad fit early in the process and celebrate a “no agreement” outcome. You should be highly selective in the companies you invite to join your community. And, you should do everything possible to become a strong, supportive partner with those that do.
Authenticity requires a community to be self-aware and have a realistic self-image. It is about consistently being principle driven and investing in building strong public:private partnerships. It is about recognizing that creating the future for your community is a team sport requiring strong and productive collaboration across a number of mission critical constituencies. It means you must “walk the talk”.
Thursday, July 2nd, 2009
I recently read a summary of the book The Momentum Effect authored by J.C. Larreche. The focus of the book is how to gain momentum, sustain it and then harness it for superior business performance. There are a number of concepts in the book that I felt had meaningful reapplication potential in place branding.
It all starts with compelling insight. There are no short cuts to success. Nothing substitutes for a deep understanding of your target audience needs and a clear appreciation for how your location can meet those needs. This requires you to see your community through their eyes instead of yours. Often this is easy to say and yet difficult to do. We all have a romanticized perspective of our own community and are blind to many of its idiosyncrasies. We sometimes write them off as misperception or lovable quirks. However, truly seeing our location through the eyes of our targets can have a powerful impact on place branding decisions and can often be the difference between success and failure (example – http://www.mrsa.com.au/print.cfm?i=2363&e=129).
Power offers are key to effective place selling. A power offer delivers a compelling proposition to a target. It helps the target understand why your location is ideally suited, if not uniquely suited, to meet their location needs. It explains the value of your location and you should be able to articulate it in just a few words. The best power offers connect on both a practical and emotional level. Examples of power offers include Alaska (Beyond Your Dreams, Within Your Reach); Maine (The Way Life Should Be); and Mississippi (Feels Like Coming Home).
You need to satisfy potential investors before you can create a positive emotional connection with your place. Often we do not take the time or make the investment to build a positive relationship with target investors. We assume they will like our location despite the fact that we have done little to help them experience it. Taking the time to establish that personal connection is critical to capturing their heart in addition to their mind. Familiarization visits are a tactical example of investing time to properly introduce a potential investor to your community. But, even this tactic will fail if phone calls are not returned in a timely manner, current and accurate data is not provided, or the potential investor’s requests are unheeded. We need to pay attention to the old saying “It is hard to please and angry man”.
5 FAST TIPS
- Focus on value. Know your location’s value as seen through the eyes of the investor and focus on investing in initiatives that further strengthen that value.
- Pay attention to the feedback. Insights gleaned from conversations with potential capital investors should be treated like precious gifts and listened to.
- Add value with every interaction. Always look to provide something of value to your potential capital investor. Every phone call, every email, every request offers an opportunity for you to deliver added value that can set your location apart from the competition. Take advantage of the opportunities.
- Always show respect. Respect your potential investor’s time, intelligence and desire to find the best solution. It will be returned.
- Invest quality time. Economic development is about people. It is about helping find the right solution for a company and inviting their employees to become active and caring members of your community. It may sound counterintuitive, but if your location is not a good fit, then it is actually a win:win outcome if the company selects a different place that better meets their needs.