An Integrated FDI Plan Can Help Accelerate Your Economic Recovery

Sunday, March 22nd, 2009

The more I learn about foreign direct investment, the more convinced I am we need to do an even better job as place marketers to effectively compete for a greater global share. Strong FDI inflow can help a location stimulate job growth and economic vitality. Positive Impact of Productivity In 2007, foreign affiliates reinvested $64B […]

18 IMMUTABLE Laws of Place Reputation

Tuesday, March 17th, 2009

A location’s reputation can be its most valuable asset. Understanding how to create, protect and repair a reputation is the subject of the book entitled “18 Immutable Laws of Corporate Reputation” authored by Ronald Alsop in 2004. The book provides a great overview of how some of the most respected corporations in America proactively manage their public perception. In this blog post, I’ve taken the liberty to reinterpret Ron’s laws for application in place branding. After you read the laws, share your perspective on the importance of a positive place reputation in economic development by posting a comment.

LAW 1. Maximize Your Most Powerful Asset – Your location develops a reputation that is based on people’s perception over time. Gaining and sustaining a positive reputation is everybody’s business in your location. Executives and citizens need to understand the value of a strong reputation for economic development and the payoff generated by this intangible asset. Reputation is as valuable to a location as capital. Nurtured it pays dividends and helps offset competitive advantages in close negotiations. Left unattended, a reputation can be lost quickly and when lost it is costly and difficult to recover.

22 Immutable Laws of Place Branding

Wednesday, March 4th, 2009

In an effort to think through the reapplication of private sector branding principles in the field of place branding, I decided to take on the challenge of translating the 22 Immutable Laws of Branding: How to Build a Product or Service Into a World Class Brand by Al and Laura Ries. What follows is my interpretation of the 22 Laws and their application in creating a world class place brand.

The Role of Foreign Direct Investment in Economic Vitality

Monday, March 2nd, 2009

It is fascinating to me, to look at world economics through the lens of a brand builder. Take for instance the National League of City’s 1996 report, Achieving World-Class Local Economies. It outlined some of the effects of globalization on America’s cities and towns. One statement that struck me as particularly interesting was –

Interactive Media Tips

Monday, March 2nd, 2009

I am preparing a presentation for a seminar on small community place branding. It is a unique opportunity to reflect on what can (and should) be done on a limited budget and with limited branding expertise on staff.

One area that quickly came to mind is the need to maximize interactive media as a tactical communication choice. No other vehicle offers such promise to reach a target audience in such a cost effective way. However, it is not as simple as build a website and the RFPs will beat a path to your community. It still takes a branding perspective to ensure the tactic is effective, and a level of commitment to sustaining the effort in order to generate awareness and interest among your strategic target. But, if done correctly and integrated into an overall place sales effort, an investment in optimizing your online presence can generate quality capital investment leads and strengthen the pride of business leaders in your location. In fact, the second benefit may be as or more important than the first since your current business leaders are your most believable ambassadors.

The following are six quick tips on how to get the most value from any interactive investment you make to promote your place. It is not a comprehensive overview of the topic, but a reasonable starting place for small communities thinking about their interactive place promotion.