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Wednesday, March 31, 2010
The key to a successful event starts (and might end) with “the devil in the details,” – and venue selection is perhaps the most important, if not at least one of the most critical. Typically, the decision of where to hold an event is dictated by the budget. An event planner also considers the number of guests, the purpose of the event and the proximity to transportation (like being easy to find and accommodating for parking). But the character of a venue can make or break the event – or better, make it a perfect fit.
Our Vice President of Research, Jeff Blodgett, announced that he’ll be retiring in April, and we certainly want to send him off in style. So rather than choose a run-of-the-mill venue, such as a hotel, restaurant or banquet facility, we looked into locations that personified our retiree. Something not too big, but with enough space to hold plenty of friends; something with character that provides an intimate setting and isn’t boring; something that ties into his personal hobbies/likes and that others can enjoy as well. In considering a museum, a homestead, a mansion and others, we felt no other place would do for this wine lover more appropriately than a vineyard – close to highways, centrally located, and with a great view of Connecticut’s scenic landscape.
With this detail set, we’re off to a great start for planning this once-in-a-lifetime event for a very special CERC family member. Cheers!
(P.S. If you’d like some help with “the devil in the details,” the CERC marketing team would love to work with you on your next event – give us a call or send us an email!)
- Kristi Sullivan, CERC Marketing Director
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Wednesday, March 24, 2010
When I think of customer service I think of it in terms of economics. No kidding!
Although economists are telling us that the economy is recovering from the latest economic downturn, businesses continue to suffer from the lack of, or inability to access, resources. In all fronts, supply and demand remain fairly sluggish and businesses are competing for a customer base to keep themselves alive and well.
Customers have needs (demands) and businesses (suppliers) rely on them as a driving force to keep the business in business. Granted there are many driving forces that go into the equation of a successful business, however, the most powerful influencer lies in the people who answer the needs of the customer. Yes, customer service can make or break a company.
Here are a few key points in delivering top-notch customer service to make almost every customer satisfied.
Professionalism
Be sure that you and members of your customer service team exercise professional mannerisms and are courteous to the customer. The customer should feel they are important and you are trying really hard to meet their needs. Develop a rapport with the customer.
Go the extra mile
Exceed, go above and beyond, the customer’s expectation. Understand the needs of your customer and deliver all that you can and more.
Communicate clearly and in a timely manner
By understanding the customer's needs, the information and/or product provided by your business can be delivered to satisfy the customer. Accuracy of the information and presenting it clearly and concisely is essential. Developing and utilizing best practices processes and tools, including access to web tools such as web sites and databases, make it easier to deliver.
You are the customer’s advocate
Let the customer know that you are their advocate in servicing their needs. If there are further inquiries, you are available to assist further.
Ask for customer opinion and develop products and services based on their input
Successful businesses listen to their customers and continue to develop products and services based off of their feedback
- Elizabeth Wallace, EDP, Director, Smart Start/Connecticut Licensing Info Center (CT-CLIC)
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Wednesday, March 17, 2010
Economics is known as the “Dismal Science” and undoubtedly deserves the reputation. One of the great quips I’ve heard is that “economist have predicted nine of the last four recessions.” Although I personally try to fight, or at least contain, the dismal nature of my discipline, I knew I was asking for trouble when I started reading This Time Is Different: Eight Centuries of Financial Folly by Carmen M. Reinhart and Kenneth S. Rogoff after just completing Too Big Too Fail by Andrew Ross Sorkin. These books suggest that the crisis in 2008 was precipitated by the size of the largest financial firms and by the risks these firms took. More importantly, it is clear that only very limited changes have been instituted since then, which leaves me with serious concerns for our challenging future.
Sorkin’s book is a readable story based on the people in the companies and government agencies involved in the 2008 financial crisis – as the world economy faced a potential crisis every bit as big as the Great Depression. His conclusions suggest that while a calamity was at least partly diverted, a great opportunity to capitalize on the crisis to restructure some of the inherent risks in the current system was completely missed. The unavoidable conclusion is that we are headed for another crisis sooner rather than later and this time without as much capital or as many the resources as we had in the last round.
While This Time is Different is also readable, it is much denser. It is full of charts, numbers and data of examples on how countries have “bought the farm” in the past. The book provides examples that repeatedly through history long before a crisis, people start saying that this time around things will be different. During this time the window that could provide relatively painless ways to address the issues closes and the mantra of this time being different gets again exposed as false. For the 2008 crisis it seems that some of the very instruments created to protect the economy and presented as evidence of things being different contributed the most to the potency of the crisis.
The message from these readings is that generally countries and economies are creative and resilient enough to recover. The risks are that significant capital and political will gets used up and that people who didn’t ask for these problems and aren’t equipped to deal with them get buried under them. Although there are many challenges from these issues, one that can easily be overlooked, but needs to be addressed, is how to insulate and protect the average tax paying citizens and “Main Street” businesses from being exposed to risky behavior of large financial firms.
- Dale Shannon, Senior Economist, CERC
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Monday, February 22, 2010
Can investment in transportation infrastructure be the road toward our economic recovery and development goals? Aside from the immediate creation of construction jobs, wouldn’t forward movement on transportation development projects be critical signal to the business world that we have the best and the brightest labor force in the country and we’re committed to making them more accessible for your business? Year after year, transportation and availability of skilled labor remain at the top of the priority list in the site selection process. In Area Development Magazine's annual corporate survey taken by national site selection professionals, 93% of respondents listed highway accessibility as either Very Important or Important, when their clients evaluate communities for purposes of relocation and/or expansion. Nearly 87% rate the availability of a skilled workforce as Very Important or Important. Site selectors say, “If a site does not have good infrastructure access for suppliers, customers, and employees, it will be eliminated from consideration.” Thirty-five percent of Connecticut residents hold a bachelor’s degree or higher, which proves we can satisfy the workforce requirement, and even though we missed out on the recent distribution of federal transportation funds this go round, there are still signs of positive redevelopment activity. My personal favorite is the rebuild of the I-91 and I-95 interchange in New Haven. Here’s the question: Given there is a positive correlation between investment in transportation infrastructure, and economic recovery and sustainability, what transportation project would you invest in first?
- Erron Smith, Economic Development Specialist, CERC
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Monday, February 15, 2010
Social media. You can't escape it. It has become part of our daily lives and its popularity and impact continues to grow and evolve. So what does it mean for economic developers? Well, it's not dissimilar from what it means for businesses - make it a priority to get engaged, otherwise you're missing a huge opportunity to not only communicate with your target audiences, but just as important - hear what they're saying about you. If you're not already socializing at work (I mean as part of your communications strategy), log on and listen to what businesses and site selectors are saying about your community and begin a dialogue. Blogging and tweeting are a few of the trendy, low-cost ways to reach a lot of people, but you need to choose the right social network, develop a strategy and be committed to communicating. Whether you use Google or Bing, there are countless articles and webinars out there to educate you about social media - including an economic development-focused webinar sponsored by IEDC on March 18 entitled Leveraging Social Media for Low-Cost, Targeted Marketing.
- MaryAnn Simkewicz, Marketing Account Supervisor, CERC
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