04/20/231

Marketing the Mid Island

Jim Eagles

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Vision Statement

The Mid Vancouver Island Region has a unique economic opportunity to grow its economy by attracting knowledge businesses to the region through the 2010-2020 period

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Goal and Objective

To create employment and economic growth in the mid island

By attracting knowledge based businesses to the mid island region from a 100 km radius

Rationale

North American Growth will come from Knowledge based businesses

Knowledge businesses do not depend on moving goods on & off island

Leverage our desirable climate as a draw for employees

Leverage quick access to YVR (15 min)- Do multiple tests of total elapsed time un-park, drive, park, pre-check in, security, vs. Air Canada Nanaimo or floatplane

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Rationale (Cont.)

Office rental is $8/ft vs. $15/ ft in Richmond and Burnaby

Most employees will afford purchase of a house vs. a condo

Commuting time lost will be 15 minutes vs. 40 minutes plus in Greater Vancouver

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Today’s Situation

Nanaimo’s economy has been hurt by reduced forestry and fishing activity

Nanaimo’s image was tarnished by motorcycle gangs in the 80’s

Current image for ferry visitors is of strip malls on 19A

Research on image among business people in Vancouver and consumers is???

Objectives

Encourage growth of Nanaimo business – particularly growth of firms employing skilled workers

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Market Segmentation

Knowledge Businesses

Pre-Retirees

Lower Cost –premises

Fast access to airport

Target Markets

Knowledge based businesses in lower Mainland

Ferry customers to Nanaimo

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Target–Knowledge Businesses Shipping costs to and from Island not a

barrier Markets for these firms not geographic-

not dependant on Vancouver Lower cost office space and housing

will benefit target firms 15 minute access to YVR by float plane

superior to most GVR locations

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Available Options

Continue to work with Mid-Islands embryonic knowledge industry

Lack economies of scale Lack of “Buzz” around Nanaimo

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Recommendation

Recommend a disciplined “relationship marketing” program targeted at knowledge-based companies in the lower mainland

Results will be measurable, controllable, low-cost

Propose to test this concept against 200 companies in the Vancouver area

The Marketing Process

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Knowledge of Vancouver knowledge-based companies

Direct marketing process

Strategy tactics

Direct mail, email-process to target companies

Call on venture capital and other firms exerting influence on Vancouver knowledge based companies

Smooze at Vancouver based vencap, and industry meetings

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Tactics (cont)

Maintain email, mail and phone contact with each prospect

Offer periodic incentives to trigger some desired response e.g. free weekend at Ti Na Mara to come visit

Tour pictures of desirable living/housing locations

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Email teaser campaign to

tech companies

Test and Measure

Owner/CEO of tech coIn Vancouver

Response 1/100

Prospecting system –City Hall, realtors, VIU

From the Nanaimo Economic Primer The actions and responsibilities within the strategic plan need to be clearly defined to ensure

success. o Identify roles and responsibilities o Match resources to goals/objectives Measurements of success – Progress and success must be

monitored and measured to evaluate the effectiveness of the strategy and its implementation. It also serves to monitor the performance of the organization ’s team. Appropriate measures should be part of the strategy document.

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per month per unit

# of responses

cost ofpkg mlgs

Cost per year

Manager $ 7,000.00

$ 84,000.00

mail manager, database development, sales

$ 3,000.00

$ 36,000.00

office space $ -

yearly fixed costs

$ 120,000.00

Sum One time costsdevelop package-email, mail, promo material

$ 10,000.00

print package 50 * 25$ =1250

Personal Presentation - develop city hall

For each lead generatedfly to Island from Van

$ 300.00

75$*2*2=$300

Hotel $ 150.00

Meals $ 200.00

Tour- RE person $ -

miscellaneous $ 500.00

total cost per visit $ 1,150.00 20

cost per year for prospect vists

$ 23,000.00

Total projected costs per year

$ 263,000.00