HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2022-02RESOLUTION NO. FWLDC-2022-02
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing an Amendment to the Agreement with Schaefer Advertising Co., Ltd for the
Development of a Messaging Strategy to Promote Economic Development in the City of Fort
Worth to Provide for an Expanded Media Budget, Additional Creative Assets and Associated
Agency Fees, and to Increase the Total Amount of the Contract to $952,500
WHEREAS, the City Council of the City of Fort Worth ("City") adopted the Economic
Development Strategic Plan on December 12, 2017 (the "Strategic Plan") that includes a goal to
"Establish Fort Worth's Competitive Edge", known as "Goal 1", which goal included an initiative
related to "Marketing & Target Industry Recruitment";
WHEREAS, the "Marketing & Target Industry Recruitment" initiative of Goal 1 is to
"attract new investments and businesses into the community, focusing on target industries that
align with Fort Worth's assets";
WHEREAS, the Strategic Plan also made a finding that, "A successful marketing program
requires highly -targeted messaging aimed at specific audiences," and "Generic marketing and
promotional efforts [... ] will not be sufficient to differentiate the city for business recruitment" and
"in addition to using customized messaging, the community's business recruitment efforts will
benefit from a set of bold and creative tactics aimed at generating leads from new sources (both
from within the metro area and from national and international markets.)";
WHEREAS, the Fort Worth Local Development Corporation (the "Corporation") was
created in 1987 to assist the City with, among other things, the creation of jobs and other economic
development activities of the City;
WHEREAS, the Corporation desires to assist the City with the achievement of Goal 1 of
the Strategic Plan by engaging a marketing firm to develop an overarching messaging plan to
promote the City of Fort Worth in its initiative to foster and promote economic development, which
should be specific to ongoing economic development activities, projects, and the goals established
in the City of Fort Worth's Economic Development Strategic Plan;
WHEREAS, on August 18, 2020, the Corporation Board of Trustees ("Board") approved
$102,000 in the Fiscal Year 2021 budget for marketing and research efforts, but several marketing
initiatives were paused or delayed due to ongoing business stabilization efforts due to effects of
the COVID-19 pandemic, which resulted in $50,000 remaining in the Fiscal Year 2021 budget for
marketing and research efforts ("FY21 Marketing Funds");
WHEREAS, on April 6, 2021, a competitive Request for Proposals for marketing services
was issued seeking a firm who would collaborate with the City of Fort Worth Economic
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Development Department to develop a messaging plan with the objectives to (1) support new and
existing business growth by increasing awareness of Fort Worth's benefits as a place to live, work
and do business; (2) highlight and encourage entrepreneurship and innovation throughout Fort
Worth; and (3) leverage opportunities for community revitalization through investments in small
businesses and targeted development opportunities; and in June 2021, Schaefer Advertising
Agency ("Schaefer") was selected as the RFP finalist;
WHEREAS, in July 2021, Schaefer began to perform initial discovery and research related
to a messaging platform and develop formal recommendations based on the initial discovery and
research for the development of a creative brand identity for the City of Fort Worth's economic
development initiative;
WHEREAS, the Board approved a resolution in September 2021 to pay Schaefer $13,000
for preliminary activities and preparation completed from July 1-September 30, 2021, and
requested an additional presentation for further discussion;
WHEREAS, following the presentation on October 19, 2021, the Board approved an
agreement to retain Schaefer ("Agreement") to provide marketing services from October 1, 2021
-- September 30, 2024, for a total cost not to exceed $737,000.00.
WHEREAS, the anticipated costs for the Year 1 Messaging Platform were documented as
$372,070 for the services identified in the scope of work for the Agreement;
WHEREAS, following the presentation of Schaefer's Year 1 Strategic Plan to the Board
on January 25, 2022, the Board now desires to approve an agreement to expand the scope of work,
including an expanded media budget, additional creative assets and associated agency fees and to
add an additional $215,500 to Schaefer's contract for use during Year 1 (October 1, 2021 -- Sept.
30, 2022), with the services to be performed more particularly set forth in Exhibit "A", attached
hereto and made a part hereof for all purposes (the "Expanded Services").
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE FORT WORTH LOCAL DEVELOPMENT CORPORATION:
1. THAT the Board authorizes the execution and delivery of an amendment to the Agreement
providing for the performance of the Expanded Services for Year 1 and an addition of
$215,500, resulting in an increase of the total amount for the Agreement from $737,000 to
$952,470.
2. THAT all other provisions of the Agreement that are not amended as authorized herein
remain in full force and effect.
3. THAT this Resolution takes effect from the date of its adoption.
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Adopted this 22nd day of February, 2022.
By:
Gyna M. FIV ens
President
Attest:
1 �4=�w
J ette S. Goodall
iporate Secretary
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EXHIBIT "A"
EXPANDED SCOPE OF WORK AND COMPENSATION
COMPENSATION
Compensation for Year 1 Expanded Scope of Work:
Project
Budget
Expanded Paid Media
$165,500
Expanded Creative Assets
$20,000
Expanded Market Activation & Media Management
$20,000
Expanded Measurement & Reporting
Included
Expanded Account Management
$10,000
TOTAL
$215,500
The fees paid are inclusive of any usage fees claimed by a third party and Schaefer will
be responsible for paying any such fees.
SCOPE OF WORK EXPANDED YEAR 1
March 1, 2022 — December 31, 2022
OVERVIEW
The City of Fort Worth Economic Development team, alongside Fort Worth Local Development
Corporation, has undertaken a three-year initiative to successfully brand and market the city and
further our economic development initiatives. Overall the initiative is concentrated in three focal
areas:
1) Establishing Fort Worth's competitive edge
2) Becoming a hub for creative business
3) Ensuring community vitality
In support of the broader vision, the RFP outlined specific marketing goals:
1) Support new and existing business growth by increasing awareness of Fort Worth's
benefits as a place to live, work and do business.
2) Highlight and encourage entrepreneurship and innovation throughout Fort Worth.
3) Leverage opportunities for community revitalization through investments in small
businesses and targeted development opportunities.
4) Reflect the authentic, multicultural nature of Fort Worth within the campaign strategy and
messaging
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Key Target Sector
• Mobility
• Aerospace & Defense
• Energy
• Culture
• Anchors & Innovators
o Healthcare/Life Sciences,
o Advanced Manufacturing
o Corporate/Regional HQs
Prioritized Outer Markets:
Based on budget and placement opportunities to fully saturate each market.
• Southern CA
• Phoenix
• Atlanta
• OKC
• Denver
• Austin
• Raleigh/Durham
• Chicago + Midwest
Local Market:
• DFW
Key Considerations
Within this Expanded Scope the agency has mapped out a more robust media budget and
associated agency fees. This increased media budget will allow for a much stronger outer market
presence, necessary to drive home the message that Fort Worth offers opportunity, innovation,
prosperity and growth. This expanded plan also amplify marketing efforts to a more diverse
community and create additional messaging and creative to reach our multiple target audiences
more effectively. This expanded scope SOW includes the following budget:
• Expanded Paid Media Budget
• Expanded Associated Agency Fees
o Expanded Creative Assets
o Market Activation & Media Management
o Measurement & Analytics
o Account Management
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Expanded Paid Media Budget
• Additional placements in display, retargeting, search, paid social
• as expanded Additional Strategic publisher placements, specifically targeting the economic
development Audiences
• DFW Airport — negotiated a significant discount for a premium inventory program
• Streaming Video program
Expanded Media Investment $165,500 for Year 1
Expanded Creative Assets
With additional media platforms the agency will need to develop a broader set of creative assets
than planned for originally. This includes the opportunity to be more specific in tailored messaging
and visuals along with a wider variety of assets. For example, digital placements within DFW
airport and Video to support video streaming media.
Expanded Creative Assets Investment $20,000
Expanded Associated A14ency Fees: Market Activation & Media Management
Schaefer will launch the new brand and creative campaign into the market. The agency handles
all final negotiations and placements based on the approved media plan. The agency will manage
tagging and trafficking responsibilities across all digital platforms and within digital assets. The
agency has a strict quality control process in place to ensure flawless activation of integrated
campaigns.
Equally as important after the launch is Schaefer's attention to ongoing media management and
optimization. Schaefer will perform daily review and optimization of our digital placements.
Many of these efforts are managed in-house leveraging Schaefer's media management platform.
Schaefer will also regularly monitor other campaign activities and opportunities to enhance and
grow the efforts on behalf of the economic development team and bring this forward to the
client.
Expanded Market Activation Investment (10 months) $2,000 per month/$20,000
Expanded Agency Fees: Measurement & Analytics
The measurement for success of any marketing campaign is in the results. Schaefer will develop
a unique Measurement Plan to outline key audiences, objectives, KPIs and performance metrics
for this campaign.
Schaefer will work in close partnership with the client to establish, enable, and manage key
tracking mechanisms for comprehensive reporting, including: Google Analytics, Google Tag
Manager, Google Search Console, Pixel Implementation, and more.
The approved Measurement Plan is used to guide the design and development of a custom live
reporting dashboard that integrates all key data sources. Reports are presented on a monthly
and/or quarterly basis with strategic analysis and recommendations.
Investment included in Expanded Media Management Fee above
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Expanded Af4ency Fees: Account Management
The Schaefer account management team serves as a critical hub of communications between
Schaefer's various teams within the agency and the client. The Schaefer account team will serve
as the client's primary point of contact from strategic development to campaign execution and
beyond. Schaefer is relationship -driven and high touch but strive to be as judicious as possible
with client time and resources in an effort to maximize the client's marketing investment.
In the initial planning stages, the Schaefer account team will lead all facets of plan development,
presentation and approvals. As campaigns are being readied for market, the Schaefer team is
responsible for adhering to strategy, deliverables, timelines and budgets, alongside its digital and
creative counterparts. Schaefer's ultimate goal is to make this process as fluid and seamless for
the client.
Once campaigns are live, the Schaefer account team stays abreast of opportunities and
performance - always with an eye towards making the initiative as efficient and effective as
possible.
Schaefer will be available for and, at the request of the client, schedule a status meeting I per
week with the Schaefer team and the client during peak campaign times. Schaefer will provide a
formal status report for review and discussion in those meetings, as well as in the event no
meeting occurs.
Expanded Investment (10 months) $1,000 per month / $10,000