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9 Ways to Win Investors and Influence Prospects
Content Draft 2, SBFor Webinar with Atlas Advertising
05/10/10
9 Ways to Win Investors and
Influence Prospects
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
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
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
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
Atlas Agency Services
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databases― Business databases― Data Search (Data
Tab)― Other Data
Management (Map Overlays)
― Community Data Management
― GIS System Analytics― GIS Data Reporting― Data Widgets
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Join us for future “Compete Smarter” webinars, listed on our Blog
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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
How is the world different in 2010? Reality bites…
For prospecting, this means:Deals are very much about financial realities, and driven by consolidationDeals can get stalled by the financial markets and uneasy decision makingMore shopping than closing
OK, so reality bites…
But remember:REALITY, as we know it, is a
SUBJECTIVE vs. OBJECTIVE state.Facts are facts -- but we perceive them
subjectively.“WORDS CREATE WORLDS”
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
The nature of INFLUENCE
What are the DRIVERS of INFLUENCE?
Think about people/organizations YOU know
who are INFLUENTIAL.
What gives them credibility?
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
The nature of INFLUENCESome 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
9 Ways to InfluenceInvestors and Prospects
(sometimes they are one and the same)
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?
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
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…
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
4. Be STRATEGIC
…in your PROGRAMS, in your COMMUNICATION,
in how you engage LEADERSHIP
What’s the POV of your organization? (Perception of Value)
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.”
For comparison: What our client say about Atlas
Spent time getting to know our community and our organization before starting anything else
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.
Meeting with Atlas staff (at my request) to find out what new tools/methods are available to us and could benefit our business.
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!”
What should the PERCEPTION OF VALUE of your org be?
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
FOR PROSPECTS How your
region/community benefits their bottom line
How well you communicate that
May be different for each prospect
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
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?
5. Manage Expectations
Stay FOCUSED on the BIG picture Look at your region/community from 30,000 feet
and focus your leaders there 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
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 _______________!”
Examples of organizations being DIFFERENT!
Fairfax County, VA Metro Denver Rockford, IL
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.”
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?)
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
How you get there
FOR INVESTORS Feasibility and
Investor Positioning Economic Impact
Analysis Fundraising
Campaigns Investor Relations
Strategy Client Training Mid-Course Investor
Assessment
FOR PROSPECTS Branding and
Prospect Positioning Marketing
Campaigns Campaign
Development Campaign Execution Client Training Campaign
Assessment
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!
Wrap up
What are you going to do with this information?
Contact Atlas
Atlas Contact information:
2601 Blake Street, Suite 301Denver, CO 80205
Contact: Ben Wrightt: 303.292.3300 x 210
LinkedIn Profile | LinkedIn Group | Twitter | Blog | Slidespace
Contact R&M
R&M Contact Information:
PO Box 5390Greenwood Village, CO 80155-5390
Contact: Susan Blansett, CEcDPh 303-475-2718
