SIDO Best Practices and Training Forum December 13
SIDO Best Practices and Training Forum December 13, 2017 Best Practices in Developing an FDI Strategy and Related Standard Operating Procedures Ludovic Ortuno - COO CIDEP Tel. : +1 (514) 756 -6538 @: l. ortuno@cidepiqc. com Elie Farah – VP Strategy & Coaching CIDEP Tel. : +1 (514) 591 -7266 @: e. farah@cidepiqc. com
BEST PRACTICES IN FDI ATTRACTION ü FDI Attraction, Expansion and Retention is a major creator of economic wealth ü Implementing Good Practices in FDI attraction allows investment attraction agencies to create more wealth for every $ they invest ü Most of the Good Practices we will discuss are simple to implement. Nevertheless, their successful implementation will require focus, rigor and discipline ü Attracting FDI is a trade mainly learnt in the field JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 2
FDI VALUE CHAIN 3. a Promotion 1. Territory characterization 7. Client visit JAFAR DESIGNS STUDIO 2. FDI Attraction Strategy 3. b 3. Prospection Promotion 8. Repeated followups with client 4. Lead Generation & Management 9. Key investment location factor materialisation 5. Meeting Qualified Leads 10. Favorable investment decision 6. Follow-up post client meeting 11. Implementation & launch BUSINESS PROPOSAL 3
ENABLING A STRONG FDI ATTRACTION STRATEGY ü The need for a strong FDI Attraction Strategy ü Based on the economic development strategy of a region and its principal location factors ü Defines priority sectors which leads to identifying high potential prospection territories ü Not all jobs are equal. Need to attract high dividend jobs for the region ü Defines key performance indicators as well as the benefits that will be generated for the region JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 4
GENERAL & TARGETED PROMOTION ü Promotion efforts aim at raising awareness and generating leads ü Focus on promotion activities where you can measure the benefits and generate leads ü Promote, whenever possible, your Unique Selling Propositions ü Be creative and think out of the box ü Use social media abundantly JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 5
USING A CRM ü Counting on a strong and well structured CRM is key to the success of an investment attraction agency ü Your CRM is a lot more than managing your client data base ü Has to be used with discipline by all team members ü Use your CRM as much as you can ü Your CRM is your crystal ball to foresee the future performance of your agency JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 6
FDI LEAD GENERATION ü Has to be a continuous effort. Opportunities are everywhere ü Invite your community to support and contribute to your lead generation efforts ü Generated In House or using the services of lead generation firms ü Based on the priority sectors and territories identified in the FDI attraction strategy ü Know and communicate what you are aiming for JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 7
FDI LEAD MANAGEMENT ü Every lead can be a potential source of an important investment. Avoid losing track of your leads ü Do not repeat your efforts uselessly. Keep track of the results of your past invested efforts ü Store all information received from Lead Generation firms in your CRM for future use JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 8
MEETING THE CLIENT ü Know your client before meeting him/her ü Find out who could be an ally (Board members, Advisory Boards) ü Present a strong business case to secure continuous discussions ü Focus on the most important location factors ü Ensure high quality follow-ups JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 9
FOREIGN SUBS EXPANSION & RETENTION ü Counting on a strong knowledge of your foreign subs base ü Establish and focus on a priority list of these subs ü Build an annual plan to visit these subs ü Share the efforts with other regional agencies ü Identify the ones at risk of closing or moving ü Understand address the irritants faced by the subs ü Understand who they report to: location of decision makers JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 10
MERGERS & ACQUISITIONS ü Most EDO’s do not get involved in M&A. They should ü Many foreign companies want to locate via M&A rather than greenfields ü Once an acquisition is made, how to address the need to protect jobs and ensure future growth? ü The need for representations at HQ level ü The newly acquired company is now a foreign owned sub JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 11
MEASURING PERFORMANCE ü Use a well defined calculation method ü Focus on quantitative ambitious but achievable goals ü Measure constantly the evolution of your performance using your CRM ü Promote your achievements using testimonials ü Proceed with retrospective studies JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 12
IN SUMMARY ü Have a well defined game plan ü Focus on generating high quality leads ü Manage these leads in the most efficient way ü Focus on your Unique Selling Propositions ü Measure your performance ü Use method, rigor and discipline ü Benchmark your agency against others JAFAR DESIGNS STUDIO BUSINESS PROPOSAL 13
Best Practices in Developing an FDI Strategy and Related Standard Operating Procedures Thank you for your kind attention Ludovic Ortuno - COO CIDEP Tel. : +1 (514) 756 -6538 @: l. ortuno@cidepiqc. com Elie Farah – VP Strategy & Coaching CIDEP Tel. : +1 (514) 591 -7266 @: e. farah@cidepiqc. com
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