By: Jim Walton
CEO
Brand Acceleration, Inc.
A few weeks ago, as I
was enjoying my usual early morning reading time, I came across a very
interesting article and related video on the subject of success momentum. The
video included an interview with a business owner who spoke about how his
string of business wins fuels his company’s success and growth. He said that
each time they win a new piece of business, the word spreads and creates buzz
that generates even more activity.
Over the years, I’ve
seen the same thing happen to communities. First, a new company moves in and
hires a bunch of people, then an existing business expands, etc., etc., etc.
Before long, industry publications and blogs are alive with chatter, creating a
seemingly unstoppable momentum. Take a look at what’s happening with Asheville,
North Carolina, Austin, Texas, Denver, Colorado, and several other locations. A
firestorm of publicity causes prospects to take a look just to see what’s going
on. It reminds me of a strategy I used several years ago as an exhibitor at
major trade shows. Whenever traffic near our booth would slow down, I would
instruct our booth workers to stand in the aisle and look in. Passersby would
see the “crowd” and stop by just to see what was so interesting.
Creating buzz!
So, just how can a
community get so much attention? Well, you first have to create news by doing
the very hard work of attracting jobs and investment. No easy task, but if you
do nothing more than attend local breakfast meetings and wait for your state
economic development agency to throw you a bone, little or nothing is going to
happen. I recently saw data showing a direct correlation between investment, marketing,
sales effort and project activity. Duh! Communities that actively invest in
marketing are much more likely to be considered for projects than those that do
little or nothing. It’s a brutally competitive world out there, and if you’re
not investing time and money in the marketing and sales process, your wins are
naturally going to be limited.
It’s crucial to build
awareness and visibility among the site selector, real estate, and c-suite
community. My personal observation is that our clients who participate in major
conferences and industry events have a serious advantage over those who do not.
I understand that the cost can be significant, but it’s well worth the
investment. Community leaders need to understand this and financially support
their economic developers.
A few years ago, I
met an economic developer who complained that her board would not give her the
necessary funds to do a respectable job of marketing. She needed a new website
and wanted to attend a couple of industry conferences each year in order to tell
her community’s story. Unfortunately, her board refused the needed funding;
saying that if she would just land one project, there might be enough money to
grant her request. She did it. Within a few months, she managed an expansion
project that added eighty-five new jobs to her small community. She was fired
up! Excited and wanting to do even more, she approached her board chair and
reminded him of the earlier promise. His response? “Your recent win shows me
that you can accomplish great things without additional funding. Just keep
doing what you’re doing.” It came as no surprise to me when she called a few
weeks later to tell me that she had accepted a position with the neighboring
county. Her funding is much greater and she’s generating tons of activity and
buzz for her new community. Her previous employer is still looking for her
replacement, but the word is out and no one wants to work there. I guess they
have buzz, too.
Promote your wins
When you do win a
project, even a very small one, shout it to the world. In addition to contacting
your local media, be sure to distribute a professionally-written news release,
with photos, to industry media, blogs, social media discussion boards, and any
other local, regional, state, or national forum you can think of. Do you think
the above-mentioned places just coincidentally get mentioned? No, they actively
tell their stories through paid media, public relations, social media
marketing, and other venues that get in front of target audiences. You can do
it, too. Get started now and enjoy the advantage of momentum.
I’d love to hear from
you. Feel free to share your thoughts and personal experiences below.
Have a great week and
I’ll see you soon,
Jim Walton
CEO
Brand Acceleration, Inc.
Branding // Marketing Communications // Public Relations
Indianapolis: 317.536.6255
Charlotte: 704:230:0394
Atlanta: 404.474.7980
Fax: 317.222.1425
Cell: 317.523.7380
Brand Acceleration is a
full-service marketing communications, brand management and public relations
firm with a focus on economic development branding and marketing.
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