Transcript for Businesses - Into Somerset

Recap on Research
• Business requirements
• Perception of Somerset
• Target markets & Brand Vision
• Benchmark Lessons
• Twin Approach – Promote & Search
Evidence for Business Requirements
and Perception
• Desk Research
• Surveys of 610 Businesses
• Interviews with 12 Commercial Property Agents
• Interviews with 22 opinion formers
Business Requirements
Top 5 factors important for business location
• Lifestyle
• Internet & Telecom
• Access to markets
• Easy local travel
• Availability of workforce
Requirements
% Respondents stating factor as important or very important
Quality of life for family
Quality of life for employees
Quality of Internet connections and Telecommunications
Good access to customers
Ease of travelling around local areas
Availability of suitable workforce
Cost of suitable workforce
Access to motorways and main trunk or primary roads
Accessibility and attractiveness for key or skilled staff
Cost of available premises
Good access to supplies/suppliers
Climate local government creates for business
Quality of available premises
Availability of land or premises
Availability of Financial incentives
Availability of business advice
Access to major UK cities
Access to rail network
79%
71%
68%
67%
56%
49%
48%
48%
46%
46%
45%
44%
39%
33%
31%
27%
25%
20%
Perceptions of Somerset
Business Location
Requirement
Satisfaction
Perception
Lifestyle
98%
66%
Internet
89%
39%
Access to Markets
83%
36%
Easy local travel
85%
51%
Workforce
82%
33%
Perceptions of Somerset
Lifestyle
Requirement
Satisfaction
Perception
Easy local travel
91%
40%
Good air quality
96%
63%
Coast & country
98%
69%
Good schools
93%
38%
Good housing
78%
40%
Describing Somerset - External
Strengths as a Business Location
•
•
•
•
Don’t know
Good access
Good work/life balance
Good Environment
Weaknesses as a Business Location
•
•
•
•
Don’t know
Hard to get to
Not set up for business
Poor access to staff
Perceptions of Somerset
Top 5 Industries associated with Somerset
Ex Somerset Response
In Somerset Response
Agriculture
Agriculture
Food & Drink
Tourism
Tourism
Food & Drink
Don’t Know
Aviation
??
Other manufacture
Target Markets – the mix
• Economic Sectors
• Geographical
• Demographics
Economic Sectors
Strong Sectors:
Advanced Engineering
Food & Drink
Growing Sectors:
Business Services
Creative Industries
Emerging Sectors:
Energy & Environment
Geography
•
•
•
•
London & South East
Bristol & Bath
International
UK Clusters
Demographics
• Age range: 25-44
• Migrants from London and South East
Target Markets
Into Somerset has been targeting:
• Five industry sectors
• Higher value, skills, knowledge
• South & East of UK
• 25-44 yr old Demographic
The Challenge
Old Brand
Nice, Rural, Cider,
Lifestyle,
Don’t know where it is.
Target Markets
25-44 yr olds
High value Entrepreneurs
Agriculture, Tourism,
Growing and emerging
sectors
Food & Drink,
South & East
Don’t know
Defining the Somerset Brand
“Creating an identity…reflecting Somerset…”
“..both realistic and appealing to potential target
markets”
“..defined by the unique combination of hard and
soft attractions that create a definition of
Somerset not matched by other competitive
regions”
Somerset Brand Messages
Lifestyle: Country, coast,
Entrepreneurial: High start up
clean air, communities, schools.
rates, innovation, collaboration, good survival.
Connected: Accessible, Celebrities,
London, International, Top Internet.
Creative & Cultural:
Festivals, crafts, drama, design
Independent: History,
free thinkers, rebellious spirit.
Traditional:
Communities, landscape, food,
skills
Progressive: Mixing
old and new, cutting edge,
global customers
Benchmark Lessons
• London, Yorkshire, Cumbria, Cornwall
• Partnership
– With business, universities, strong sectors, regional and county
agencies, key business leaders.
• Clear definition of brand
– Umbrella Brands
– Unique combination of soft and hard attractions
– Coherent and consistent message/image with sub brands
• Specific targets pursued
–
–
–
–
London: Medical
York: Biotech / Science Park
Cumbria: Nuclear / US
Cornwall: Knowledge Professional
Attracting Investment
• Twin Track Approach
– Promoting Somerset
– Sourcing Prospects / Leads / Investors
Promoting Somerset
INTERNAL
MARKETS
EXTERNAL
MARKETS
• Raising & updating the profile
– Online (Web, Social Media, Case studies)
– Offline (PR, Advertising, Somerset Booklet)
– Business to Business
Search for Investors
• Pro-active Search & Facilitation
• Sector focus (Advanced Eng, Energy)
• Supply chain engagement (EDF – Nuclear)
• Enquiry management
• “Red Carpet” for right investment