Regional marketing takes the stage
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The advent of proactive regional marketing initiatives statewide is a direct result of the continuing commitment of money from the Grow Iowa Values Fund from the Iowa Department of Economic Development toward this goal. Prior to this funding, a few areas of the state were collaborating on economic development efforts, but the creation of 17 self-determined marketing regions in the state reflects the impact of these matching marketing funds targeted to economic growth.
Each region has its own “personality,” priorities and focus. Recognizing this uniqueness, Iowa, unlike many other states, has no dictated activities that regions are expected to implement; each is expected to identify its own set of marketing activities.
The Institute for Decision Making (IDM) at the University of Northern Iowa has worked with a number of regions and assisted their stakeholders in a wide variety of ways, from initial formation to updating previously adopted marketing and business plans. IDM is a program of Business and Community Services, a division of the College of Business Administration.
When most people think of economic development marketing, they assume that the focus is on trying to attract new employers to a region. However, a majority of Iowa’s marketing regions devote attention and resources to assisting existing employers and encouraging new business development. For instance, several regions are supporting community efforts to make contact with former residents and alumni to promote opportunities. In addition, support is provided for entrepreneurial training and clubs, as well as continued efforts to identify regional “angel” investors to support start-up companies.
To reach out to existing employers, many regions compile information pertaining to supplier/buyer linkages, recruit for specialized employment openings and create opportunities for regional company officials to interact.
Regional business recruitment efforts are key in attempting to raise awareness of the uniqueness of the region and its ability to retain and attract people and employers who can contribute to regional economic strength. Some regions focus on traditional business recruitment activities such as trade shows, print ads and direct-mail campaigns.
Regions with limited development assets have implemented efforts to create “virtual buildings” and “shovel ready” sites to demonstrate how they could accommodate interested companies. All of the regions have developed detailed labor force information in conjunction with Iowa Workforce Development and can provide complete location inventory information through a statewide database program.
Regardless of a region’s assets, all are focusing on the Internet as a key to marketing to individuals within the region and elsewhere. Experts say 90 percent of business location searches now start online.
With the continued evolution of social media, regional groups will be able to take a more hands-on role in promoting the things happening in their region. Utilizing LinkedIn, Facebook or any of the other 400-plus social media platforms will help regions develop the best strategy for providing information to various audiences.
Don Chaplain is a senior program manager and LaDene Bowen is a senior project manager at the University of Northern Iowa’s Institute for Decision Making.