Best Practices: Effective...Best Practices: Effective Reporting, Tracking & Goals July 25, 2018...
Transcript of Best Practices: Effective...Best Practices: Effective Reporting, Tracking & Goals July 25, 2018...
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Best Practices: Effective Reporting, Tracking & Goals
July 25, 2018
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ECONOMIC DEVELOPMENT
METRICSUNDERSTAND
YOUR AUDIENCE
PRIORITIZE DATAPOINTS
DATA VISUALIZATION
TIMING
EXAMPLES
EDUCATION, PACKAGING AND POSITIONING
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UNDERSTAND YOUR AUDIENCE
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UNDERSTAND YOUR AUDIENCE
INTERNAL
VS.
EXTERNAL
WHO WITHIN YOUR UTILITY
TRACKS ECONOMIC
DEVELOPMENT PROGRESS
• C-suite Executives• Leadership Team • Other Departments• Others?
• What is their level of knowledge of economic development?
• What do they consider “wins”?• How do they prefer to receive
information?• How often?
A FEW QUESTIONS
TO ASK:
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PRIORITIZE DATAPOINTS
WHAT YOU WANT TO SAY
RELEVANCE
WHAT THEY’RE INTERESTED IN
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PRIORITIZE DATAPOINTS
• Loads• Leads• Revenue• Social responsibility• Local partners / LEDO
support services• State / community
involvement and investment
• Project wins• Other?
ARE OBJECTIVES
CLEARLY DEFINED?
ARE YOUR INITIATIVES IN
LINE WITH THOSE OBJECTIVES?
WHAT METRICS
ARE MOST RELEVANT?
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EDUCATION, PACKAGING AND POSITIONING
I N T E R N A LC O M M U N I C A T I O N
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EDUCATION, PACKAGING AND POSITIONING
• Does your audience understand your role
• Is there an education component
• Tell stories
• Visualize data
• Cross-promote your services/successes with other departments
THE VALUE OF ECONOMIC DEVELOPMENT
PACKAGING YOUR RESULTS
POSITIONING YOUR DEPARTMENT WITHIN
UTILITY
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12 SECONDSThe average attention
spaN of a HUMAN in
2000
8 SECONDSThe average attention
spAN of a HUMAN in
2013
9 SECONDSThe average attention
spaN of a
GOLDFISH
THE AVERAGE HUMAN ATTENTION SPAN
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DATA VISUALIZATION
ATTENTION SPANS ARE SHRINKING…
DASHBOARD/SNAPSHOT
HIGHLY VISUAL; GRAPHIC LOOK
HIGHLIGHTS AT-A-GLANCE
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TIMING IS CRITICAL
HOW MUCH IS TOO OFTEN; NOT OFTEN ENOUGH?Monthly • Quarterly • Bi-annually • Annual
BE CONSISTENT!Once you start reporting; maintain a consistent schedule
ASK FOR FEEDBACK & ADJUST ACCORDINGLY
WHAT HAVE YOU DONE FOR ME LATELY?
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EXAMPLE
$14,235,936
$19,163,760 $21,901,440$24,091,584
$9,470,582
$0$5,000,000$10,000,000$15,000,000$20,000,000$25,000,000$30,000,000
EI‐MeetsSome EI‐Meets EI‐Exceeds EI‐FarExceeds YTDEI
EconomicImpact(EI)*Scorecard
5511
22011330
DemandbyTariffArea
GMOKCPLKSKCPLMO
$7,946,657
$98,874
$3,261,900
$81,324
Projected Revenue by Industry
Data Center
Logisitics
Manufacturing
Office
2018 Announcements CompanyName
AnnualRevenue ($)
Projected Operational
Spear Power Systems
$296,739 2nd Q 2018
Faurecia Interior Systems
$2,426,386 4th Q 2019
Mail Print/Next Page
$628,775 3rd Q 2018
Grow Safe System
$81,324 1st Q 2018
HopkinsManufacturing
$98,874 2nd Q 2018
NOCIX $7,946,657 3rd Q 2018
Projected Revenue $11,388,755
March2018
543
$46,275,000