| A lot of investment promotion
activity in the economic development field has traditionally been as
productive as pushing on a piece of string.
Attempts to "get in the door" with top executives at "targeted" companies
may sound good in theory, but with thousands of economic developers calling
and sending their promotional information to thousands of contacts, the
exponential consequences should be pretty obvious. There are many
overlaps in "targeting", so it is as effective as "spamming".
It can drive top executives crazy, and discourage them from working with
economic development professionals who can actually be quite helpful when
their services are needed, rather than an unwanted intrusion.
A terrific amount of time, effort, and marketing resources are simply
wasted, because the executives could spend their entire year doing nothing
except meeting with all of the people who want to get in their door to push
their areas or services. |
Until now, the main "defense"
of corporate executives was to simply keep their plans secret, be very
selective about meeting area representatives, and use service providers such
as location consultants as an intermediary, so that information can be
gathered confidentially without the "rumor mill" creating a flood of
unwanted enquiries. GDI Solutions changes that picture by providing an
independent, professional alternative. Through SICR, it is possible to
prepare plans in whatever degree of confidence is required, but it is also
possible to quickly introduce whatever service providers or area
representatives may be of interest, at the right time, and efficiently
review introductory information (such as the GUIDE Network Survey and Area
Profiles) as a consistent, structured process to apply local knowledge
efficiently at their more "exploratory" stages of planning. This makes
it easier to make them aware of unfamiliar alternatives, and the potential
benefits, so that appropriate introductions can be made. The result is
that areas are not limited by the knowledge or access of location
consultants, who may themselves have difficulty reaching the right
executives at the right time. |
| That's why SICR is designed
to be completely different. It is built upon the successful sales models
used by leading professional services organizations, which develop trusted
working relationships over many years through a variety of services which
are very responsive to the needs of the executives at all times, and deliver
high value for them.
Instead of "pushing" new services at them, the focus is to listen, be
alert to their needs, and then offer to "pull" in the relevant service
introductions at the right time. By understanding their organizations,
and how they are changing, it is possible to anticipate service needs and be
prepared to meet them well, even before an overt request for support is
made.
This role as a "trusted advisor" and "networking" resource needs to be
preserved through careful respect for the relationship. If perceived
to be "pushing" unwanted services, the relationship soon falls apart.
The work needs to be driven by the legitimate support needs of the company,
but the relationship can encourage the executive to consider the value of
new and unfamiliar services, rather than just the familiar ones. It
isn't simply an "order taker" role. One needs to bring independent
insights and creativity to the table, and suggest new ideas and solutions
which can deliver high value in practice. |
As already explained, the participants who fund
the SICR services are not "buying" access to project information, nor
"buying" introductory meetings, or "pushing" information about their areas
or services at investors. This is agreed explicitly in a contractual
relationship.
Instead, they are investing in an independent process to
better support executives who they might not reach through their own efforts or
contacts at the right time to present their relevant capabilities.
They are investing in the opportunity to meet more investors who might
have a real interest in their services through a process with the resources,
knowledge and experience to make timely introductions to the executives who
they should meet.
This requires the ability to recognize appropriate opportunities and
effectively present the potential benefits of their services to very senior
executives.
GDI Solutions will know their capabilities well enough to
"pull" them in quickly for introductions whenever they may be appropriate,
but any introductions are still controlled by the executives. |
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