Economic development professionals face a unique set of challenges as they navigate the complexities of constant change and stakeholder dynamics. In a recent webinar provided by Denise Dahl of Epiphany Planning & Development LLC,  the Great Lakes EDC explored the importance of effective communication, innovative engagement strategies, and personal branding in driving long-term success.

Key Highlights: Understanding Your Dynamic

Economic developers operate in environments where leadership and stakeholder roles vary widely. Questions like "Are you mentoring someone?" or "Do you have a mentor?" reflect the diverse dynamics within organizations. Understanding these roles is critical in shaping effective communication and engagement strategies.

The Importance of Communication in Times of Change

Change is a constant in economic development, making communication a fundamental tool for guiding stakeholders through transitions. However, startling statistics reveal that communication often misses the mark:

• 75% of communication is misinterpreted.
• Verbal communication accounts for only 7% of effective interaction, with 93% being nonverbal.
• Readers retain just 20% of information, while listeners retain a mere 10%.

These figures highlight the need for innovative approaches to ensure messages resonate with target audiences.

The Information Overload Problem

The webinar also addressed the rise of information overload, with 80% of participants reporting they feel overwhelmed—a significant increase from 60% in 2020. This challenge emphasizes the importance of quality over quantity in communication efforts.

Innovative Engagement Strategies

Economic developers were encouraged to adopt creative engagement tactics to build relationships and lighten their workload. Notable strategies included:

• Website Design & Digital Marketing Groups: Partnering with professionals to enhance online presence and messaging.
• Mentorship Programs: Connecting seasoned professionals with emerging leaders to foster growth.
• Business-to-Business (B2B) Matchmaking: Facilitating connections between companies to strengthen local supply chains.
• Housing Development Initiatives: Collaborating with builders to address community needs.
• Networking Opportunities: Organizing events to build relationships and foster collaboration.
• Workforce Development Resources: Leveraging existing resources to connect businesses and talent effectively.

Relationships Over Projects

The webinar underscored that success in economic development relies heavily on relationships rather than transactions. Professionals were encouraged to reflect on their personal brand and ensure it aligns with their goals. Building a reputation as a connector rather than a controller can foster trust and collaboration.

Next Steps for Professionals

To implement these insights, participants were urged to:

1. Evaluate Their Brand: Consider how stakeholders would describe them and align their actions to reflect their desired image.
2. Audit Communication Channels: Focus on impactful methods and reduce efforts on platforms that yield little engagement.

As economic developers continue to navigate a world of constant change, these strategies provide a roadmap for building stronger communities and driving lasting success.