Happy Friday Everyone! Enjoy these 6 great tips for growing your destination! Want to put plan to action? Lakeview Productions has been branding great destinations achieving top ROI for our clients since 1999, give us a call today to start getting your fair share of tourism dollars!
- Market share growth starts with gaining mind share. You need as much top-of-mind awareness as possible, and the key to achieve it is through repetition of your place promise. This requires discipline and an appreciation for the importance of not having conflicting or confusing messages about your community. You may get bored with telling the same story about your community, but until you hear it consistently and correctly repeated back by capital investors you have not succeeded in establishing your message in their mind.
- Timing matters. If you had an unlimited budget, then telling your story 24×7 through every possible communication channel you can think of might make sense. But, not only do we not have unlimited budgets in economic development, we typically are woefully under resourced. Therefore it is important your investment in telling your community story is timed to be as impactful as possible. The challenge is to identify the communication channels that are the most effective at making your community story available at that critical moment.
- Effective branding takes time and costs money. If you don’t have the resources to support either marketing or branding effort, invest your budget in a highly targeted sales plan. For perspective, if you embark on developing a marketing or branding plan and do not do a good job, you risk creating ill will with thought leaders in your community. It will be unlikely you can again recreate the enthusiastic support required until time has past and the memory of failure fades.
- Every important decision is based on emotion and rationalized with facts. Most economic development attraction efforts focus on data and do not address the emotional considerations. How your current executives feel about your community is a great indicator. If they are strong advocates, you will win the emotional side of the decision. If they are not satisfied with their situation, then you can have all the rational reasons in the world and you will still likely lose the competition for capital investment.
- Your place promise is not right for everybody, and that is okay. Most people and teams get caught up in the competition to win and lose sight of the bigger picture and make poor business decisions. This is a sure recipe for disaster. Your objective should be a mutually beneficial partnership where the company and community win long-term. You cannot make up margin through volume and walking away from a potential investment may actually be a win for your community. Play for the long-term and don’t be afraid to walk away if a deal isn’t right for both parties.
- The more you know about your competition, the better prepared you are for success. Highlight points of difference which are unique assets or benefits only one competitor offers. When your community has a point of difference, you have a competitive advantage. When another community has one, you have a competitive disadvantage. Knowing how your community compares with others you typically compete with will help you identify points of difference. Capitalize on positive points of difference, and neutralize your negative points of difference.
Lakeview Productions is continually ahead of the curve and have had much success branding destinations to achieve that front of mind status that destinations strive to achieve. Contact us today to see how we can help you!