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Tracking and Measurement <br />Specific quantifiable goals should be established wherever possible to allow accurate tracking of the <br />return on investincnt from individual programs, as well as the overall success of die marketing plan. <br />Results should be tracked and reviewed on an ongou7g basis, and "mid-course corrections" should <br />be made as objectives change or if existing strategies and tactics are not enabling you to meet your <br />objectives. <br />In addition, the City of Flk River should continue to: <br />^ Analyze the competition and the services they are offering <br />^ Regularly evaluate and unprove the markctuig plan <br />^ Track the status of all prospects and projects <br />Based on the Situation Analysis, as well as the Objectives, Strategies and Tactics described <br />previously, we recommend these specific success measurements: <br />^ Define specific parameters for "small to medium" and "medium to large" light industrial <br />manufacturers. Target completion date: Nov. 10, 2006. <br />^ Reexamine the Key Account and other prospect lists in light of those parameters to determine <br />whether those lists adequately include the CitS~'s expanded target: medium to large light industrial <br />manufacturers. Target completion date: Dec. 15, 2006. <br />^ If dzat market is underrepresented, obtain contact information for additional medium to large <br />targets and begin including them in new marketuig efforts. Target completion date: Dec. 31, <br />2006. <br />^ Identify the five to 10 most knowledgeable and influential industrial brokers working in the <br />Northwest Metro and ensure that those brokers are part of die City's Key Account list. Target <br />completion date: Nov. 10, 2006. <br />^ Develop abroker-specific marketing communications strategy. Target completion date: Dec. 31, <br />2006. <br />^ Develop and submit to the I/DA a proposal for giving finder's fees or some type of other <br />compensation to brokers who site clients on privately-owned industrial sites. Target completion <br />date: Nov. 10, 2006. <br />^ Begin clearly communicating the existence of broker compensation to die broker communit~~. <br />'Target date: As soon as approved. <br />^ Develop abroker-oriented event drat will attract brokers to the community to nehvork and to see <br />local industrial development site opt;ons. Target date: Summer 2007. <br />16 <br />