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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 Marketing. SOME INITIAL THOUGHTS… Marketing is about communicating value
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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 Marketing • SOME INITIAL THOUGHTS… • Marketing is about communicating value • Marketing isn’t a magic pill • Marketing 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 Marketing • HIGHLIGHTS COVERED TODAY • Define Your Marketing Strategy • Leverage 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 Strategy • Know 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 Strategy • Identify 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 Strategy • Understand 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 Strategy • Develop 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 Tools • Media relations • Third party outreach
Cost Effective Tools • Why Media Relations? • Costs less than other marketing and advertising activities… and often more effective • Communicates action and milestones • Builds brand awareness • Attracts members and observers • Positions you better against competitive efforts
Cost Effective Tools • Third 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 organizations • Learning institutions (e.g., accounting departments)
Cost Effective Tools • Why Third Party Outreach? • Leverages partner’s: • Brand awareness and reach • Members • Influence • Marketing and promotional budgets • Credibility • Builds brand awareness • Attracts members and observers • Educates and informs stakeholders
Developing Core Messages • Why? • Ensure consistency • Communicate value proposition • Demonstrate action
Developing Core Messages • Develop 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 Monterio Senior Vice President Colcomgroup, Inc. Tel: 646 536 5104 or 917 593 4130 E: bmonterio@colcomgroup.com