Get Noticed! Attract Members! Support Adoption!
It's All About XBRL Jurisdiction Marketing
Brad J. Monterio – Colcomgroup, Inc.December 4, 2007
Vancouver, British Columbia, Canada
Jurisdiction MarketingSOME INITIAL THOUGHTS…Marketing is about communicating valueMarketing isn’t a magic pillMarketing is the champion of your audience’s needs
Marketing doesn’t create truth where truth doesn’t exist
The more you know about your audience, the more effective your marketing
Jurisdiction MarketingHIGHLIGHTS COVERED TODAYDefine Your Marketing StrategyLeverage Cost Effective Tools on Limited Budgets
Match Core Messages to Stakeholder Needs
Define Your Marketing Strategy
DEVELOP A WRITTEN PLAN•It all starts with:
–Knowing your organization–Knowing your members–Knowing your stakeholders
Define Your Marketing StrategyKnow your organization - perform a SWOT analysis–Strengths, Weaknesses, Opportunities and Threats
Understand the current landscape and adapt–Regulatory and legislative–Business sectors
•Financial services/banking–Technology
Define Your Marketing StrategyIdentify measurable objectives
–Number of members•New and renewing members
–Dues–Targets by member type
Include qualitative goals–Increase brand awareness
•Media outreach•Third party outreach•Regulatory and government affairs
Define Your Marketing StrategyUnderstand your current members
–Define by type (e.g., tool vendor)–Understand their goals, needs and wants
Know your external stakeholder groups–Define by stakeholder type (e.g., regulator)–Understand their goal, needs and wants–Determine where they get their information; who influences them
Define Your Marketing StrategyDevelop a compelling value proposition
–“What’s In It For Me?” (WIIFM)•Why join the jurisdiction?•What you will accomplish for them?•How will you drive adoption among end users?
Target your outreach to those audiences –Marketing communications–Media outreach
Cost Effective ToolsMedia relationsThird party outreach
Cost Effective ToolsWhy Media Relations?Costs less than other marketing and advertising activities… and often more effective
Communicates action and milestonesBuilds brand awarenessAttracts members and observersPositions you better against competitive efforts
Cost Effective ToolsThird Party Outreach to Who?Regulatory agencies (e.g., stock exchanges, securities regulators)
Professional associations (e.g., investor relations professionals)
Trade associations (e.g., banks)Investor organizationsLearning institutions (e.g., accounting departments)
Cost Effective ToolsWhy Third Party Outreach?Leverages partner’s:
–Brand awareness and reach–Members–Influence–Marketing and promotional budgets–Credibility
Builds brand awarenessAttracts members and observersEducates and informs stakeholders
Developing Core MessagesWhy?
–Ensure consistency–Communicate value proposition–Demonstrate action
Developing Core MessagesDevelop separate message sets for each group:–Regulatory agencies–Tool Vendors–Accounting firms–Financial services companies–Consulting firms–Business and financial executives etc.
Use targeted messages in marketing, media and third party outreach
Questions?Brad MonterioSenior Vice PresidentColcomgroup, Inc.Tel: 646 536 5104 or 917 593 4130E: [email protected]
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