Building Markets

Isolated bean fields to creating a vibrant $100 million tech park. From Vancouver, Canada to building markets for a high-tech medical device sterilization facility in NE Indiana. A quality of place framework for funding growth initiatives. A medical and education campus option for a growing region. A Congressional tour to elevate Indiana defense tech. Legislative tools to map medical device growth potential.

A strategic catalyst – MEK initiates, engages, and collaborates with business leaders, economic developers, state and federal agencies and more to successfully identify, evaluate, map out and plan, and execute/expand market entry for a wide variety of clients.

A Viral White Paper

For MEK, who often has been termed a “trusted partner” in these ventures, it began with an out-of-the-park white paper. Stark reality in 2003: the $2 billion Naval Surface Warfare Center south of Bloomington, a major employer, could downsize or outright close. A reprised 2005 Base Realignment and Closure process (BRAC) loomed. Such a BRAC event would economically devastate south central Indiana.

A MEK-produced white paper detailing key BRAC issues and possible solutions went viral
Statewide editorials, speeches, national defense summaries and presentations re-published or quoted key sections
Described by one defense economic specialist as “effective public affairs artillery on key strategic coordinates”

The white paper helped lay a foundation for action. As it would do later for other clients in different fields, MEK played a subsequent integral role in identifying and helping secure needed initial capital and agency buy-in for what today is known as the $100 million WestGate@Crane Technology Park (read summary here).

MEK played a critical role in building markets for what was once bean- and cornfields, and is today a $100 million technology park. — **Building a $100 million technology park** – Through high-impact communication and leveraging its extensive network, MEK played a major role in securing critical state agency support and millions in funding to create the tri-county WestGate@Crane Technology Park. MEK also led the successful initiative to engage Purdue and secure an onsite commitment from Purdue Research Foundation (Purdue@WestGate) at the park.

Strategic Framework

Over time, creating an environment for growth involved many people, officials, and influencers. A MEK framework for entering markets, which is adapted for several industries, emerged. Here are selected elements to consider:

Evaluate the proposed market and market resources

Is there truly a local or regional need within the market?
Is sufficient capital available to enter? (what are available sources, including unusual, non-routine sources?)
Is sufficient talent available? (can be local or remote)
What talent and workforce building tools are accessible? (university involvement, existing non-competitive businesses and enterprises, regional associations)
What is the level of commitment from local, regional, state and national key influencers and stakeholders?
Who are key leaders and influencers who can provide leadership and believability to promote buy-in?
What decision data is available? What is needed (Gatekeeper research, industry database survey outreach, perspectives of leaders and media)
Identify supply chain (including intellectual talent) issues

IEDA Summary — **Tax Increment Financing (TIF)** – TIF represents a critical economic development tool that is sometimes misunderstood. MEK supported the Indiana Economic Development Association and senior university researchers in addressing critical TIF issues and elevating awareness.

Identify existing and future support mechanisms

Identify natural market buyers and supporters
How will your idea, product, service, or resource enhance existing companies, regions, markets?
Who (or what) opposes the idea or initiative? What “initiative of the day” fatigue issues or experiences exist?
Sample what key influencers (e.g. site selectors or market advisors) think or perceive of your proposed initiative or market enhancement

TBI General Assembly Brief — **Creating options for strategic initiatives** – A major city in central Indiana was reviewing options for development. MEK conducted research and analyses to help officials select a viable option.

Build consensus and buy-in

Match the initiative or product/service to key influencers (can be a major challenge)
Identify, anticipate and manage the dynamics of your process
Create appropriate communication tools (video, briefing documents, animation, white papers, sales and fact sheets, initiative summaries, infographics)
Creatively identify media opportunities to tell your story; present leadership to create aura of opportunity and achievement; build your brand and reputation
Identify opposition and research underlying elements; how can win-win situations be created?
Remember that every person, organization and initiative has a “brand,” whether it wants one or not
Actively practice reputation management and brand development (a brand is a living collection of mental, emotional, cognitive and personal preferences and perspectives)

IRHA Annual Report — **Helping hospitals and rural clinics** – MEK created a targeted outreach that enabled the the Indiana Rural Health Association to showcase how it helps hospitals maximize performance and reduce operating costs.

Advance your initiative and shape your market entry

Provide context for assembling a strategic team (your perspective is often critical for success)
Identify needed team members and proactively offer direction
Identify where other agencies, organizations, businesses, associations and even sales teams can play a positive role; ask for their advice and input
If your organization deploys a lobbyist, ensure that they have access to your information/role and share resources as appropriate
Often a delicate balance is required (the most effective PR is invisible)
If you’re responding to a government or agency RFP, make certain you provide all information requested/required and play by the rules
Create a strategic event or reward process to celebrate your wins and market entry; create opportunities for your supporters to tell your story on your behalf – achieving a third-party, highly believable endorsement
Create, monitor and manage digital communication opportunities to support your initiative or market making
Be agile!

*Site Selector* positioning, Quality of Place, Workforce Development – MEK designed and executed several successful brand awareness and other critical initiative projects for Daviess County Indiana, including a national ad campaign highlighting top performance metrics, an extensive high-impact research report and potential projects that led to major READI grant awards, and other digital, print and other media positioning.

Every process is different, with different dynamics.
If you would like to discuss, call or email us!