19/10/ Marketing the Mid Island Jim Eagles

19/10/ Vision Statement The Mid Vancouver Island Region has a unique economic opportunity to grow its economy by attracting knowledge businesses to the region through the period

19/10/ Goal and Objective To create employment and economic growth in the mid island By attracting knowledge based businesses to the mid island region from a 100 km radius

Rationale North American Growth will come from Knowledge based businesses Knowledge businesses do not depend on moving goods on & off island Leverage our desirable climate as a draw for employees Leverage quick access to YVR (15 min)- Do multiple tests of total elapsed time un-park, drive, park, pre-check in, security, vs. Air Canada Nanaimo or floatplane 19/10/2015 4

Rationale (Cont.) Office rental is $8/ft vs. $15/ ft in Richmond and Burnaby Most employees will afford purchase of a house vs. a condo Commuting time lost will be 15 minutes vs. 40 minutes plus in Greater Vancouver

19/10/ Today’s Situation Nanaimo’s economy has been hurt by reduced forestry and fishing activity Nanaimo’s image was tarnished by motorcycle gangs in the 80’s Current image for ferry visitors is of strip malls on 19A Research on image among business people in Vancouver and consumers is???

Objectives Encourage growth of Nanaimo business – particularly growth of firms employing skilled workers 19/10/2015 7

Market Segmentation Knowledge Businesses Pre-Retirees Lower Cost – premises Fast access to airport

Target Markets Knowledge based businesses in lower Mainland Ferry customers to Nanaimo 19/10/2015 9

Target–Knowledge Businesses Shipping costs to and from Island not a barrier Markets for these firms not geographic- not dependant on Vancouver Lower cost office space and housing will benefit target firms 15 minute access to YVR by float plane superior to most GVR locations 19/10/

19/10/ Available Options Continue to work with Mid-Islands embryonic knowledge industry Lack economies of scale Lack of “Buzz” around Nanaimo

19/10/ Recommendation Recommend a disciplined “relationship marketing” program targeted at knowledge-based companies in the lower mainland Results will be measurable, controllable, low-cost Propose to test this concept against 200 companies in the Vancouver area

The Marketing Process 19/10/ Vancouver Knowledge Companies Nanaimo Knowledge of Vancouver knowledge-based companies Direct marketing process

Strategy tactics Direct mail, -process to target companies Call on venture capital and other firms exerting influence on Vancouver knowledge based companies Smooze at Vancouver based vencap, and industry meetings 19/10/

Tactics (cont) Maintain , mail and phone contact with each prospect Offer periodic incentives to trigger some desired response e.g. free weekend at Ti Na Mara to come visit Tour pictures of desirable living/housing locations 19/10/

19/10/ teaser campaign to tech companies Test and Measure Owner/CEO of tech co In Vancouver Response 1/100 Prospecting system –City Hall, realtors, VIU

From the Nanaimo Economic Primer The actions and responsibilities within the strategic plan need to be clearly defined to ensure success. o Identify roles and responsibilities o Match resources to goals/objectives Measurements of success – Progress and success must be monitored and measured to evaluate the effectiveness of the strategy and its implementation. It also serves to monitor the performance of the organization ’s team. Appropriate measures should be part of the strategy document. 19/10/

19/10/ per month per unit # of response s cost ofpkg mlgs Cost per year Manager $ 7, $ 84, mail manager, database development, sales $ 3, $ 36, office space $ - yearly fixed costs $ 120, Sum One time costs develop package- , mail, promo material $ 10, print package 50 * 25$ =1250 Personal Presentation - develop city hall For each lead generated fly to Island from Van $ $*2*2 =$300 Hotel $ Meals $ Tour- RE person $ - miscellaneous $ total cost per visit $ 1, cost per year for prospect vists $ 23, Total projected costs per year $ 263,