Want to Measure your. Presented by

Transcription

1 Want to Measure your ROI? Presented by

2 About Your Presenter Guillermo Mazier Director, Strategic Accounts Former economic developer and tourism marketer for the Costa Rican Investment and Trade Development Board Managed economic development and tourism campaign for Tortugero, CR Industry speaker, content strategy and digital marketing specialist How my Kids Describe me:

3 Introducing Atlas 1. Denver-based marketing services company, specializing in economic development 2. Founded in 2001, with 27 employees 3. Has worked with more communities than any other economic development marketing services firm in the past 10 years: 160+ economic development clients in 43 states and 6 countries 4. Specialize in providing branding, marketing planning, digital marketing, and GIS enabled websites, all for economic development 5. Pioneered the industry s first metrics based benchmarking approach for marketing, business attraction, and business retention: High Performance Economic Development Marketing 6. IEDC s High Performance Economic Development Marketing Partner 7. Frequent public speaker and lead speaker on benchmarking marketing, business attraction, and business retention programs, as well as on branding, research, digital marketing, websites, and GIS.

4 View the slides, continue the dialogue Continue the Conversation: Follow us on Twitter: Tweet questions using hashtag #ASKATLAS Join High Performance Economic Development LinkedIn Group View and share the slides with your colleagues (available now):

5 Outline 1. Introductions 2. The Metrics Situation in Economic Development 3. The Need for Metrics in Economic Development 4. What Happens if We Don t Use Metrics 5. How to Put Metrics into Practice 6. Southwest Michigan First Authentic Accountability 7. How to Get Your Community s Report 8. Wrap up/questions

6 Setting the Stage for Our Metrics Talk

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8 Albert Einstein? Steve Jobs? Heraclitus of Epheseus, 535 BC 475 BC

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10 If you want to in economic development, part of what you need to do is leverage the tools that you have, the people that you have and the assets that you have to that might not be comfortable, that might not be fun, but at least takes you to a in a way that is productive and increases the

11 Ben Wright CEO of Community Systems/Atlas Advertising

12 Poll Question: As a practitioner, how much do you think you impact the overall economic activity in your area?

13 The Metrics Situation in Economic Development

14 History of Metrics for Economic Development However, with differing viewpoints, metrics have gotten muddy and misunderstood 2011 In 2014, IEDC published its Making it Count Metrics for High Performing EDOs 2015 EDOs have been measuring their performance for years In 2011, Atlas put together its first survey of EDO outcomes, to assist EDOs in planning their marketing, business attraction, and business retention programs 2014 In 2015, the general public still doesn t know the value of what we do

15 EDOs service companies that comprise a very small percentage of their economies. 175 < 25,000 Average companies served Typical number of establishments in a community Source: Atlas 2014 Benchmarking Study

16 Trends in the Profession That Make Metrics a Moving Target 1. Digital is changing the way communities are being evaluated, and changing our roles in the process 2. Workforce driving business location, and opening up new ways for EDOs to influence economies 3. The debate about whether the profession drives outcomes continues, even as the Great Recession is in the rear view 4. There are more deals happening in communities, leading to more positive impressions of EDOs 5. The investor/stakeholder mindset is changing, as demographics of those involved in EDOs are changing

17 Why We Need Metrics for Economic Development

18 There is Too Much Discussion About Whether or Not Economic Developers are Essential, While Interest in Economic Development Organizations Wanes

19 Implications if we don t use Metrics

20 The Spread Between High and Low Performing Organizations is Staggering, at All Sizes Budget Level LOW JOBS ANNOUNCED, 2014 HIGH JOBS ANNOUNCED, 2014 Under $100, $100,000 to $249, ,500 $250,000 to $499, ,000 $500,000 to $999, ,283 $1,000,000 to $2,500, ,000 Over $2,500, ,835 Average difference: 978x Source: Atlas Report - Why Metrics Matter, 2014

21 How to Put Metrics Into Practice

22 How Does Your Organization Prioritize Business Recruitment, Retention, and Marketing/Promotion?

23 Four Ways the International Economic Development Council Defines High Performance 1. Internal Segment (Employee satisfaction, funding sources) 2. ED Program Segment (Business Attraction, Business Retention, Business Creation) 3. Relationship Management Segment (Relationships with internal and external stakeholders) 4. Community Segment (Community well being, in terms of demographics, workforce, household income, etc.)

24 Atlas High Performance Economic Development Focuses on the Relationship Management Segment, plus Outcomes from those Relationships 1. Internal Segment (Employee satisfaction, funding sources 2. ED Program Segment (Business Attraction, Business Retention, Business Creation) 3. Relationship Management Segment (Relationships with internal and external stakeholders) 4. Community Segment (Community well being, in terms of demographics, ) Outcomes for jobs announced and capital investment announced

25 Start With the Big 4, Then Get More

26 Poll Question: Should we use outcomes to measure ourselves?

27 Poll Question: Did your organization set measurable goals for your marketing, business development, and business retention programs this year (2015)?

28 Poll Question: What is stopping you from implementing metrics for your role within the organization?

29 Steps to Put High Performance into Practice 1. Discuss your organizational priorities for marketing, business recruitment, and business retention, and start with a simple score card 2. Assign metrics to certain staff 3. Set a plan to influence that metric for each staff person 4. Make the plan transparent to your stakeholders 5. Execute, report, and adjust

30 What Type of Organization Do You Want to be When You Grow Up?

31 Assigning Metrics to Staff: What Metrics Does Each Function Influence? WEB VISITS INQUIRIES / CONVERSATIONS JOBS ANNOUNCED CAPITAL INVESTMENT ANNOUNCED CEO/Executive X X X X Business Developer X X X Marketer X X Researcher X

32 Setting a Plan so That Each Staff Person Can Drive High Performance BUILD THIS

33 Economic Development CEO / Executive Metrics He/She Should Influence 1. All Role He/She Plays Sphere of Influence 1. Setting the vision for the organization 2. Creating a culture of accountability and transparency 3. Setting the parameters for a metrics score card 4. Allocating staff and resources 5. Building capacity to ensure board engagement

34 Business Developer Metrics He/She Should Influence 1. Inquiries/Conversations with Companies 2. Jobs Announced/Conversations 3. Capital Investment Announced/Conversations What He/She Should Focus On 1. Rapid response to prospects 2. Investigating prospect needs 3. Providing customized responses 4. Proactively prospecting 5. Filling, monitoring and maintaining BD pipeline Sphere of Influence

35 Marketer Metrics He/She Should Influence 1. Website visits 2. Ratio of website visits/inquiries What He/She Should Focus On 1. Creating opportunities for BD, through marketing 2. Driving traffic to the website via search engines, social media, 3. Keeping content fresh and relevant 4. Leveraging the latest marketing tools and software to create a competitive advantage for her community Sphere of Influence

36 Researcher/Economist Metrics He/She Should Influence 1. Website Visits 2. Jobs Announced 3. Capital Investment Announced Role He/She Plays 1. Creating outstanding and differentiated content for all teams 2. Providing customized data to the business developer 3. Managing and reporting on benchmarked data 4. Leveraging the latest data sources and tools Sphere of Influence

37 Benchmark Your Community Using Atlas High Performance Economic Development 1. Take the survey here: 2. View your report online: here

38 In Closing The excuses you use when you hesitate to implement metrics are just that - they are excuses from fear. They are not based on your particular abilities or things that you can tangibly control. But once you are able to implement a set of metrics, leverage them, talk about them (bad or good) then you can be a true game changer for your community, because you are not going to stop there.

39 Thank you! Contact information: Guillermo Mazier x Broadway Denver, CO Guillermom@Atlas-Advertising.com LinkedIn Profile LinkedIn Group Twitter Blog Slideshare

40 A Case Study on Metrics: SOUTHWEST MICHIGAN FIRST "The person who says it cannot be done should not interrupt the person doing it. - Chinese Proverb Tim Terrentine, Vice President

41 AUTHENTIC ACCOUNTABILITY TIM TERRENTINE execu0ve vice president Southwest Michigan First managing director Consultant Atlas Adver#sing Metrics Webinar (2015)

42 The Economic Development Profession

43 ECONOMIC DEVELOPMENT Expecta0ons Genera0ons Customers Source: U.S. Census, Southwest Michigan First

44 WHY Metrics?

45 NO Metrics? Your story will be told Hopefully by YOU!

46 IMPLEMENTING Metrics? TALENT FOCUS AUTHENTICITY

47 AUTHENTIC ACCOUNTABILITY

48 HOW WE GOT HERE

49 HOW WE GOT HERE In 2011, Governor Rick Snyder s ini#a#ves divided the state into various regions. The seven coun#es of Southwest Michigan were joined together. Southwest Michigan First was selected to lead our region s collabora#on.

50 THE IMPORTANCE OF DIVERSITY

51 OUR BOARD S GEOGRAPHIC & ECONOMIC DIVERSITY 34,063 REGIONAL EMPLOYEES 450,997 GLOBAL WORKFORCE $3.83 billion ANNUAL REGIONAL SALARIES OTHER COUNTIES 54 9 MEMBERS COUNTIES 4% 9% 48% 17% 17% 34% PERCENTAGE REGIONAL POPULATION 2014 CURRENT MEMBERSHIP 7% 20% 2% 7% 9% 8%. 4% 5% 9% Source: U.S. Census, Southwest Michigan First

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53 BUILDING A CULTURE OF RESPONSIBILITY

54 BUILDING A CULTURE OF RESPONSIBILITY REQUIRES Commitment Consistency Communica0on

55 ESTABLISH A SYSTEM THAT WORKS FOR YOU

56 KEEP SCORE

57 REGIONAL SCORECARD

58 MEASURING THE REGION

59 BUSINESS GROWTH

60 VITAL URBAN CORES

61 EDUCATION

62 LOCAL GOVERNMENT

63 MEASURING RELATIONSHIPS

64 RELATIONSHIPS

65 MEASURING COMMUNITY & QUALITY OF LIFE

66 COMMUNITY & QUALITY OF LIFE

67 HOW TO CONTACT ME Tim Terren0ne

68 Questions

69 Thank you! Contact information: Guillermo Mazier x Broadway Denver, CO Guillermom@Atlas-Advertising.com LinkedIn Profile LinkedIn Group Twitter Blog Slideshare