How To Get The Most Out Of Your Brand For Economic Development?

Last week, I had the opportunity to read, “Does your community know their brand?” from our good friend, Dave Quinn at Levelland Economic Development Corporation.  In the post, Dave examines the role of economic developers in the branding of the regions that they are responsible  for in terms of promoting in the hopes of retaining and attracting investment.   For some large regions with the financial resources to  spend on more traditional marketing efforts, branding can be an after-thought for them however; it is the contrary for smaller regions.   Branding is the life-line for any social media marketing effort that is planned by small and innovative economic development agencies.

Once a brand has been  established for your region for economic development (specifically for investment attraction), what do you do?  A catchy slogan and a logo can only go so far.

Here are 3 tips to get the  most out of your  brand for economic development especially if your agency is about to execute a social media strategy.

1. Test It Out

It is important to note that branding is all about delivering value based on an image that your agency will create or have created.   As a result, getting feedback on a  branding initiative is recommended to iron out any potential issues that can  cause challenges in the future.  Asking current stakeholders in the region is a good place to start in  terms of seeing if the branding reflects their current realities.   Feedback could be used to tweak future content strategies on social media platforms.

2. Derive Your Content Strategy

Before your creative people in your agency begins to draft your content strategy, it is important that your brand message is the common link amongst the posts on selected social media platforms.  If your brand message of your region is the best option for  investors to tap into a pool qualified talent,  a content strategy must be in place to continuously supply content to illustrate this point and engage the target audience to learn about this key location factor.

3. Position Your Agency Amongst Competitors

As investors seek the best “bang for their buck”, they are becoming more strategic in terms of selecting regions.   As a result, competing for investment dollars will become challenging for agencies and will call for a more proactive  marketing approach.  This approach can include taking the agency’s brand and position it amongst current competing regions.  Although a very lengthen exercise to perform, brand positioning does has it long term benefits in communicating your region’s unique value proposition.  In addition, positioning will allow your region to stand apart from others based on the criteria of site selectors and potential investors.

Conclusion

With the advent of social media platforms and the increase focus on having a content strategy, branding has become a more valuable asset for small and large organizations.  For economic development agencies that have not build or invested in their existing brand, economic  developers will have challenges in using social media to market their regions for investment attraction.   A sustainable presence on the main Web 2.0 applications is dependent on a branding strategy that can be used to engage target audiences that have a specific need to satisfy.

Want To Know More?

Read our past posts: