Silverlode developed a target industry analysis and target marketing plan for a small community in Iowa's Creative Corridor.
Economic Development Services
The City of Marion, Iowa was experiencing tremendous residential growth and a corresponding drain on resources. The Marion Economic Development Corporation (“MEDCO”) engaged Silverlode to create a plan to attract companies to diversify the economic base and support the population growth.
Silverlode interviewed dozens of stakeholders, toured the sites and companies, and conducted an in-depth analysis of MEDCO operations and copious regional studies. We also conducted a location factor assessment, a target industry analysis, and a SWOT analysis. Silverlode identified eight niche target industries and provided instructions for how to identify companies, protocols for a direct calling campaign, talking points for calls and meetings, and design and content recommendations for industry-specific marketing collateral. Silverlode also provided a book of recommendations for economic development initiatives which included 14 categories, over 100 specific recommendations with detailed action steps, and information on success metrics, budget, and timing.
MEDCO uses Silverlode’s plan to guide their daily activities. The organization has a weekly “Silverlode Priority Work” meeting to review their progress on the attraction plan. MEDCO is also leveraging Silverlode’s marketing recommendations to prepare for a trade show in one of the recommended target industries.