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1111 <br /> Key Account and Lead Generation Strategy <br /> To establish the City ofElk River as theplace to sitea light-manufacturing firm with economic development <br /> key influencers, leaders and providers. <br /> Analysis <br /> The Economic Development staff launched a direct mail Key Account program with 10 key <br /> accounts —real estate brokers and developers. However, the staff needs to develop a one- <br /> on-one relationship and effectively utilize other key community and business leaders in the <br /> process. This is one of the most important strategies and the outreach effort needs to be <br /> focused, expanded, and accountable. <br /> Economic Development is a people driven business and is highly reliant on networks — <br /> knowing the lead generators and influencers are extremely important. Establishing <br /> confidence with this group that the City is "open for business and is an easy city to do <br /> business with" is vital to the City's industrial growth. <br /> The City of Elk River needs to establish a "Champion" for promoting the City as a place <br /> for light industrial firms. The job and the responsibility of the"Champion"needs to include <br /> the Economic Development staff, select business leaders and the EDA. <br /> Action <br /> Key Account Program <br /> ❑ Ensure that all industrial inquiries are submitted to the Economic Development staff <br /> including leads from the Chamber of Commerce, Elk River Municipal Utilities, <br /> local banks, etc. (On-going) <br /> ❑ Maintain the current 10 accounts and add five additional key accounts. (Fall 2002) <br /> o Review key account list and add local banks as active key accounts. (Fall 2002) <br /> o Request President of the EDA to be part of a joint sales team and assign five <br /> accounts jointly. Economic Development Director to take the lead. (On-going) <br /> o Utilize other appropriate business leaders as part of the Key Account Team, as <br /> appropriate. (On-going) <br /> o Develop key account sales plans including a schedule for each account. (On-going) <br /> ❑ Assign Economic Development Assistant the Manufacturing&Trade Associations <br /> and Department of Trade and Economic Development accounts. (August 2002) <br /> ❑ Meet one-on-one with key accounts at least three times annually and maintain <br /> contact by telephone, e-mail, or communication materials bi-monthly. (On-going) <br /> ❑ Keep track of account interactions by project management software. (On-going) <br /> ❑ Present status of key accounts within the monthly report to the EDA. (Monthly) <br /> o Expand new key accounts annually. (2003, 2004) <br /> • <br /> Duckor&Associates, Inc. 7 <br /> A BluePrint for Your Success . . . Today and Tomorrow <br />