Posts Tagged ‘Creative Class’
Is it time to reconsider the strategy behind your investment attraction website?
It could be, if your existing strategy is several years old and your community has since turned its marketing focus to the creative economy.
Just as there is a difference between a traditional investment attraction marketing strategy and a strategy for creative economy marketing, so there is a difference between a broad-based Economic Development website and one designed specifically to attract and retain businesses led by the creative class. You might, in fact, need to consider having more than one site. (more…)
If attracting the creative class is a strategy for economic growth in your community, you need to be aware that social media will likely be a key communications channel for your marketing campaign.
Why? Because social media websites and tools provide the most effective and economical means for you to segment your target audiences and to measure how much activity your messages are generating.
Challenges of Segmentation
Creative economy campaigns are focused on people as opposed to industries. This requires a different marketing approach, as we have pointed out earlier in this series (please see “Marketing to Attract the Creative Class,” April 13, 2010). The first challenge is that the creative economy is so broad that marketing dollars can easily be wasted by not hitting the right points on this very large target.
A necessary first step, then, even before a strategy is developed, is to define your target creative audience. This can be done using (more…)
Economic development organizations are accustomed to developing strategies to attract new or expanding businesses to enlarge their tax base. To do this they spread messages that appeal to corporate interests. What are the strategies and messages that need to be developed to attract the creative class?
It is this class – people who are paid to think – that is building the economy of the future. To effectively reach this target audience requires a new kind of strategy, one that resembles a consumer marketing campaign.
You need a clear, simple message broadcast to a carefully defined target audience.
Your strategy should be based on an understanding of what kinds of creative communities already exist in your region, what makes your region attractive to them and what messages should be designed to appeal to similar creative groups who will respond to those (more…)
For several years there has been growing consensus among economic developers about the importance of the creative economy, and many organizations have sprung up to examine and promote its concepts. In Canada, for example, the Creative City Network of Canada offers many kinds of resources to municipal staff and the recent annual conference of the Economic Developers Council of Ontario was built on the theme of “Defining and Capturing the New Economy,” with Rebecca Ryan, founder of Next Generation Consulting, as the keynote speaker.
In the US, preparations are under way as this is written for the third annual Creative Cities Summit to be held April 7-9 in Lexington, KY. Another thought-leadership organization, the Seattle-based International Regions Benchmarking Consortium, released a report in December 2009 confirming that the springboard for economic growth these days is talent, not industrial resources or infrastructure.
The report, A Tale of 10 Cities: Attracting and Retaining Talent, lays out the typical growth pattern in the creative economy: “A region begins by attracting capable people though existing employers, its university system and an attractive local lifestyle. A growing talent pool then attracts new employers who seek a skilled workforce. This growth in knowledge-based industries, in turn, attracts even more well-educated and (more…)
Do you use Twitter? Do you wonder sometimes about the phenomenal growth of this micro-blogging website and whether it might hold a lesson for economic development?
Here’s a statistic that qualifies to be the envy of anyone trying to promote economic growth: during June 2009, Twitter attracted 44.5 million unique users worldwide, an increase of 1,460 per cent from the previous year.
Now, what makes Twitter tick? All it does is give people a quick way to ask and answer the question, “What are you doing now?”
Therein lies the connection with economic development and investment-attraction websites. The Twitter phenomenon reflects a growing expectation among people who use the web for information – and that certainly includes site selectors – that they will find something new, something NOW, when they go online.
And not just new data or facts – new things about what people are doing, what’s happening in their community, who has opinions or insights into what’s happening, who knows where the good times are.
Twitter, you see, is a social network about now. There are many varieties of such networks, growing rapidly on social-media sites (more…)