How Companies Evaluate Location Factors

The way in which companies and their site consultants evaluate site selection factors continues to change. One major change is that these decisions are being made in a more systematic and knowledge-based way. I suggest you read a recent Business Facility Magazine article on how these factors are assessed. Click here.

What does this mean for the community trying to put its best foot forward in competing for a deal? Bottom line, it means that your area will need to become equally systematic and knowledge-based in your marketing and business development efforts. Here are the key questions you should have answers to.

1. How much do you know about what the company is looking for and needs? How do you find out what you need to know in this regard? Do you have the ability to zero in on key concerns and issues and address them in a knowledgable and persuasive manner?

2. Do you have the right information that the prospect needs? Is your information "decision-quality" in nature and "business-critical' in terms of content?

3. Do you use this information strategically to increase your leverage and influence with the company and its consultant?

4. Have you established the right local team to work effectively and efficiently with the business prospect and its consultant?