1. 9 Ways to Win Investors and Influence Prospects Content Draft 2, SB For Webinar with Atlas Advertising 05/10/10 9 Ways to Win Investors and Influence Prospects
2. Agenda / Outline Introductions New economy, new realities The nature of influence -- impacting both investors and prospects 9 Ways to improve your success with both Join the conversation
3. About R&M Resource Development R&M Resource Development specializes in strengthening economic development organizations through fundraising, strategy formation and leadership development. We have raised more than $350,000,000 in over 100 campaigns since 1989, while helping our clients to engage their civic and business leaders for greater impact and sustainability. We take pride in leading the industry with innovation, proven techniques and customized strategies. R&M is the only firm of its kind with experienced CEcDs as principal partners. A few of our clients: CO: Metro Denver EDC, Upstate Colorado EDC, Aurora EDC TX: Corpus Christi Regional EDC IL: Rockford Area Econ. Council, Greater Springfield Chamber, Will County CED TN: Nashville Chamber, Obion County Chamber, East TN EDA/Knoxville
4. R&M Resource Development Services Fundraising Campaigns Economic Impact Analysis Feasibility and Positioning Analysis Organizational Audit Mid-course Investor Assessment Investor Relations Strategy Client Training Economic Development Strategy Facilitation Mediation
5. About Atlas Atlas Advertising helps economic developers reach national and international prospect and site selection audiences. We deliver branding, website development, GIS mapping, research, social media, and creative services professionally and with a staff experienced in economic development. Unlike firms with little or no economic development experience, Atlas Advertising uses a proven mix of economic development marketing tactics that generate interest from site selection audiences. Atlas Advertising is led by a former economic development practitioner and has worked with 50+ different economic development clients in 30 states. Our approach and experience means that our campaigns generate an average of three to ten times the response of other campaigns. Featured clients: State of Ohio Indy Partnership City of San Francisco Greater Phoenix Economic Council Greater Omaha Economic Development Partnership
19. How is the world different in 2010? Reality bites… For fundraising, this means: Investors demand greater accountability & relevant performance measures Greater proportion of prospects to commits Longer lead time/decision time to commit and to write the check Identifying “unusual suspects” Leadership sells
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21. Deals can get stalled by the financial markets and uneasy decision making
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23. There are silver linings… Technology gives us more tools The best principles and processes hold true in GOOD and BAD economies There are professionals to help you navigate these new waters cost-effectively Lots of economic developers are sitting on their hands, creating opportunities
24. The nature of INFLUENCE What are the DRIVERS of INFLUENCE? Think about people/organizations YOU know who are INFLUENTIAL. What gives them credibility?
25. The nature of INFLUENCE Some drivers: Relevance – being expert at what your audience needs Trust – not overselling or bending the truth, and building a track record Differentiation – How having a relationship with your organization is different and better Integrity -- A track record of doing what you say you’ll do, and being honest with people
26. The nature of INFLUENCE Some drivers: Timing – catching the right audience when they can year you Affiliation – who you know and how your relationships create leverage Inspiration – having passion for your organization and your community
27. 9 Ways to InfluenceInvestors and Prospects (sometimes they are one and the same)
28. 1. KNOW WHAT YOU WANT Vision drives everything. What do you really want to accomplish (what’s the real goal?) What programs/initiatives will it take to get there? And what will they cost? If you want more $$, what will you accomplish with it? How will you define success?
29. 2. Know your AUDIENCE Know your investors as well as your clients Develop profiles of each Identify and document their needs in writing Devote resources to maintaining the relationship
30. Develop Trust in your Audiences Don’t oversell or overpromise Demonstrate that you understand their needs and challenges Do what you say Build long term relationships Fairfax county VA podcast…
31. 3. Know your POSITION, and be RELEVANT Conduct an Honest Assessment: Honestly assess your SWOT, the trends, and your region’s true competitiveness Honestly assess your EDO program content for relevance, impact, buy-in, and strategic content Get a 3d-party assessment of what’s doable in a campaign, and trust it Develop new ideas about how you can meet your audience’s needs differently
32. 4. Be STRATEGIC …in your PROGRAMS, in your COMMUNICATION, in how you engage LEADERSHIP What’s the POV of your organization? (Perception of Value)
33. What Prospects Say about being relevant “They picked up the phone when I called.” “They stuck to the facts, and didn’t oversell.” “They provided me with the information I was looking for.” “They connected me with the right people in the area.”
34. For comparison: What our client say about Atlas Spent time getting to know our community and our organization before starting anything else Meeting with Atlas staff (at my request) to find out what new tools/methods are available to us and could benefit our business. Got tactical with us...with no questions or pushback. Not the sexiest thing I know, but it was effective. Provide market information via presentations or webinars.
35. What Investors Say “You are really changing the way we have done things here for years. I like it, and I like the impact model.” “Getting the money to do this is not the challenge; getting the right people together is. I like the focus on wealth and leadership.” “My passion and my wallet come out of the same pocket. And these strategies hit them both!”
36. What should the PERCEPTION OF VALUE of your org be? FOR PROSPECTS How your region/community benefits their bottom line How well you communicate that May be different for each prospect FOR INVESTORS Building Wealth ROI as seen through their eyes How well you engage them and communicate w/them May be different for each investor
37. Engaging leadership strategically Use business leaders in a manner commensurate with their status/skills/passions They WILL influence other investors, elected officials and prospects -- Make sure their experience is POSITIVE
38. Do you treat your investors as well as you treat your prospects? Do you engage your investors as true partners? Incite them to civic entrepreneurship? Hold them accountable, as you are? Deliver value & make it relevant? Keep them focused on the big picture?
39. 5. Manage Expectations Stay FOCUSED on the BIG picture Look at your region/community from 30,000 feet and focus your leadersthere as well Manage the trenches, but use your leaders at the strategic level Performance measures, used consistently, will focus attention where you need it and help shape the discussion
40. 6. Be DIFFERENT! In fundraising, understand that you are competing for money and engagement. In prospecting, you must understand that you are competing with communities worldwide. For BOTH, you must meet the most important needs, in a way others don’t. “We are the only organization/community that offers/impacts _______________!”
42. 7. Perfect your timing Target your prospects well (whether for $$ or projects) Meet them when they are ready to be met If the timing is not right, move on Unlike site decisions, investment decisions are NOT final -- “No” means “Not at this time.”
43. 8. Multiply your influence through AFFILIATION Tout the companies in your area (i.e. Intel) Tout the investors in your organization (who is at the table?)
44. 9. Inject your organization with INSPIRATION Speak to the heart first, then the mind Remember “Words Create Worlds” -- speak to the passions of your leadership Incite them to think BIGGER, stretch farther Engage solid creative/communications talent Live and breathe that inspiration -- be persistently positive
51. Join the conversation! Join our LinkedIn Group: Next Gen Economic Development Marketers (Once you sign up, you will need to be approved) Then, click the link on the presentation, in Discussions. We look forward to having you!
52. Wrap up What are you going to do with this information?
53. Contact Atlas Atlas Contact information: 2601 Blake Street, Suite 301 Denver, CO 80205 Contact: Ben Wright t: 303.292.3300 x 210 benw@Atlas-Advertising.com www.Atlas-Advertising.com LinkedIn Profile| LinkedIn Group | Twitter| Blog| Slidespace
54. Contact R&M R&M Contact Information: PO Box 5390 Greenwood Village, CO 80155-5390 Contact: Susan Blansett, CEcD Ph 303-475-2718 sblansett47@msn.com www.rmresource.com
