Insights
Marketing for Economic Development Organizations is different than marketing in any other industry. Telling the story of your community starts with understanding what sets this field apart. The main factors distinguishing economic development are its mission, challenges, audience, and opportunities.
1. Your mission is unique
Unlike a business, you aren’t selling a product you make or a service you provide. Instead, you are selling a community, which is much more difficult to brand, describe, and sell.
2. Your marketing mix is unique
Most organizations have control over all four Ps of the marketing mix: Product, Price, Place and Promotion. However, as an EDO, you only have control over Promotion, putting extra pressure on you to excel in that area.
3. Your audiences are unique
Your audiences and stakeholders fall into many categories, ranging from community members to politicians and site selectors to current businesses in your community. This requires you to apply a variety of communication disciplines to your promotion efforts, such as B2B and B2C marketing plus PR and community relations and more.
4. You also have unique opportunities
But all is not lost! Compared to many businesses, you often work with predictable budgets, possess a long-term planner's mindset, have a clear mission, and have meaningful stories to tell about your community.
Understanding these distinct aspects can help EDOs craft more effective marketing strategies that resonate with their unique mission and audience, while navigating challenges and capitalizing on opportunities specific to economic development. At EDSuite, we recognize the importance of telling your community’s unique story and consider everything that makes EDO marketing unique. We would love to discuss how to best market your organization!