Best Practices: Effective Reporting, Tracking & Goals
July 25, 2018
ECONOMIC DEVELOPMENT
METRICSUNDERSTAND
YOUR AUDIENCE
PRIORITIZE DATAPOINTS
DATA VISUALIZATION
TIMING
EXAMPLES
EDUCATION, PACKAGING AND POSITIONING
UNDERSTAND YOUR AUDIENCE
UNDERSTAND YOUR AUDIENCE
INTERNAL
VS.
EXTERNAL
WHO WITHIN YOUR UTILITY
TRACKS ECONOMIC
DEVELOPMENT PROGRESS
• C-suite Executives• Leadership Team • Other Departments• Others?
• What is their level of knowledge of economic development?
• What do they consider “wins”?• How do they prefer to receive
information?• How often?
A FEW QUESTIONS
TO ASK:
PRIORITIZE DATAPOINTS
WHAT YOU WANT TO SAY
RELEVANCE
WHAT THEY’RE INTERESTED IN
PRIORITIZE DATAPOINTS
• Loads• Leads• Revenue• Social responsibility• Local partners / LEDO
support services• State / community
involvement and investment
• Project wins• Other?
ARE OBJECTIVES
CLEARLY DEFINED?
ARE YOUR INITIATIVES IN
LINE WITH THOSE OBJECTIVES?
WHAT METRICS
ARE MOST RELEVANT?
EDUCATION, PACKAGING AND POSITIONING
I N T E R N A LC O M M U N I C A T I O N
EDUCATION, PACKAGING AND POSITIONING
• Does your audience understand your role
• Is there an education component
• Tell stories
• Visualize data
• Cross-promote your services/successes with other departments
THE VALUE OF ECONOMIC DEVELOPMENT
PACKAGING YOUR RESULTS
POSITIONING YOUR DEPARTMENT WITHIN
UTILITY
12 SECONDSThe average attention
spaN of a HUMAN in
2000
8 SECONDSThe average attention
spAN of a HUMAN in
2013
9 SECONDSThe average attention
spaN of a
GOLDFISH
THE AVERAGE HUMAN ATTENTION SPAN
DATA VISUALIZATION
ATTENTION SPANS ARE SHRINKING…
DASHBOARD/SNAPSHOT
HIGHLY VISUAL; GRAPHIC LOOK
HIGHLIGHTS AT-A-GLANCE
TIMING IS CRITICAL
HOW MUCH IS TOO OFTEN; NOT OFTEN ENOUGH?Monthly • Quarterly • Bi-annually • Annual
BE CONSISTENT!Once you start reporting; maintain a consistent schedule
ASK FOR FEEDBACK & ADJUST ACCORDINGLY
WHAT HAVE YOU DONE FOR ME LATELY?
EXAMPLE
$14,235,936
$19,163,760 $21,901,440$24,091,584
$9,470,582
$0$5,000,000$10,000,000$15,000,000$20,000,000$25,000,000$30,000,000
EI‐MeetsSome EI‐Meets EI‐Exceeds EI‐FarExceeds YTDEI
EconomicImpact(EI)*Scorecard
5511
22011330
DemandbyTariffArea
GMOKCPLKSKCPLMO
$7,946,657
$98,874
$3,261,900
$81,324
Projected Revenue by Industry
Data Center
Logisitics
Manufacturing
Office
2018 Announcements CompanyName
AnnualRevenue ($)
Projected Operational
Spear Power Systems
$296,739 2nd Q 2018
Faurecia Interior Systems
$2,426,386 4th Q 2019
Mail Print/Next Page
$628,775 3rd Q 2018
Grow Safe System
$81,324 1st Q 2018
HopkinsManufacturing
$98,874 2nd Q 2018
NOCIX $7,946,657 3rd Q 2018
Projected Revenue $11,388,755
March2018
543
$46,275,000