If you read our last blog on Place Marketing, you’ll already know why it’s becoming increasingly important to have a strong place marketing strategy and a clear city branding campaign in order to achieve economic growth.
Below is a quick list of best practice do’s & don’ts in Place Marketing for Economic Growth:
5 Place Marketing strategy Do’s
DO have effective governance for growth marketing – include marketing representation from those organisations that are influential in your economic growth and city branding
DO conduct a situation analysis that clearly sets out the economic growth drivers, weaknesses and opportunities
DO conduct a place marketing competitor analysis that compares your offer and weaknesses with those competing for investment
DO develop an authentic place branding narrative for growth that your whole partnership can stand full square behindDO make sure you have effective community engagement capable of taking people on the journey with you
5 Place Marketing strategy Don’t’s
DON’T have competing strategies within your organisation that affect growth. Use good coordination to ensure consistency
DON’T treat growth place marketing the same as your corporate communications – they require different skills
DON’T do place marketing for economic growth part time – it’s worthy of resourcing properly as ROI will be significant
DON’T forget this is a reputation issue so ensure your strategic head of communications leads growth marketing
DON’T delay – your competition will be gaining ground on scarce resources
To find out why Place Marketing and City branding is more important in light of the business rates change, take a look at the previous blog, Place Marketing: Meeting the 2020 business rates retention challenge.
To discuss place marketing further and hear more information on our successful case studies, please contact Westco via our contact page or call us on 020 7641 1805.