HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2023-05RESOLUTION NO. FWLDC-2023-05
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing a Third Amendment to the Agreement with
Schaefer Advertising Co., Ltd. for the Expansion of the Scope of Work
and Additional Fees
WHEREAS, the City Council of the City of Fort Worth ("City") adopted the Economic
Development Strategic Plan on December 12, 2017 ("Strategic Plan") that includes a goal to
"Establish Fort Worth's Competitive Edge", known as "Goal I", which goal included an
initiative related to "Marketing & Target Industry Recruitment";
WHEREAS, the Marketing & Target Industry Recruitment initiative of Goal I 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 ("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 I 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
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,
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RESOLUTION NO. FWLI)C-2023-05
PAGE 2
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 Co., Ltd. ("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 I - 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 I Messaging Platform were documented
as $372,070 for the services identified in the scope of work for the Agreement;
WHEREAS, the Board approved an expanded 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 I (October 1, 2021 - Sept. 30, 2022); and
WHEREAS, following the presentation of Schaefer's Year 2 Strategic Plan to the Board
the Board desires to approve an amendment to the Agreement to expand the scope of work,
including an expanded media budget, additional creative assets and associated agency fees and to
add an additional $290,600 to the Agreement.
WHEREAS, following the presentation of Schaefer's Year 3 Strategic Plan to the Board,
the Board desires to approve an amendment to the Agreement to expand the scope of work,
including an expanded media budget, updated creative assets and associated agency fees and to
add an additional $127,500 to the Agreement with the services to be performed more particularly
set forth in Exhibit "A", attached hereto and made a part hereof for all purposes ("Expanded
Services — Year 3").
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE FORT WORTH LOCAL DEVELOPMENT CORPORATION:
1. The Corporation is hereby authorized to execute an amendment to the Agreement
providing for the performance of the Expanded Services for Year 3 as shown on Exhibit "A" and
an addition of $127,500 in compensation, resulting in an increase of the total compensation
amount for the Agreement from $1,243,070 to $1,370,570.
2. All other provisions of the Agreement that are not amended as authorized herein
remain in full force and effect.
3. This Resolution takes effect from the date of its adoption.
RESOLUTION NO. FWLDC-2023-05
PAGE 3
Adopted this September 26, 2023.
By:
—A-lajylllaylock
Vice President
Attest:
Jannette S. Goodall
Corporate Secretary
RESOLUTION NO. FWLDC-2023-05
PAGE 4
EXHIBIT "A"
EXPANDED SCOPE OF WORK
SCOPE OF WORK EXPANDED YEAR 3
October 1, 2023 — September 30, 2024
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 for business attraction 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
Key Target Sectors
• Mobility
® Aerospace & Defense
® Energy
® Culture
® Anchors & Innovators
0 Healthcare/Life Sciences,
0 Advanced Manufacturing
0 Corporate/Regional HQs
Prioritized Outer Markets:
Based on budget and placement opportunities tofidly saturate each market
® Southern California
0 Chicago
0 BostordNew Jersey
0 Pittsburg
® Seattle/Tacoma
RESOLUTION NO. FWLDC-2023-05
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Kev Considerations
Within this Expanded Scope, the agency has mapped out a more robust media budget and
associated agency fees to enhance several of the campaign's well -performing fundamental tools,
and further showcase Fort Worth in our key strategic markets through promotional placements in
notable publications to further drive home the message that Fort Worth offers opportunity,
innovation business prosperity and growth. This expanded scope SOW includes the following
budget:
Expanded Paid Media Budget
Expanded Strategic Planning
Creative Assets Refresh
Website Enhancements
Media Management, Analytics and Reporting
Expanded Account Management
Expanded Paid Media
The agency has mapped out a more robust media budget and associated agency fees to
use the expanded budget to enhance several of the campaign's well -performing fundamental
tools, and further showcase Fort Worth in our key strategic markets through promotional
placements in notable publications.
® Fundamentals: Additional placements in programmatic display, retargeting, search, paid
social and expanded strategic publisher placements, specifically targeting audiences in
both outer and local markets.
® Fzindcnnentuls.- Monthly email deployments to outer markets and database nurturing to
drive interested customers further down the marketing funnel and facilitate deeper levels
of engagement.
® Fundcinienlcils.- Programmatic video program in outer markets
• Publisher: Sponsored articles in the Boston Business Journal, L.A. Business News, and
the Chicago Business Journal.
0 Publisher: A silver sponsorship with Dallas Inriovates
Expanded Paid Media: $167,000 for Year 3
Expanded Strategic Planning
The agency will develop a strategically -sound, integrated plan to meet the business and
marketing objectives for FY24 to keep the City of Fort Worth in market and in front of target
audiences. This plan will consider all paid media opportunities across digital and traditional
tactics. This plan will include the presentation to the core team and ultimately to the Fort Worth
Local Development Corporation (LDC) outlining recommended strategies and tactics for Year 3.
Expanded Strategic Planning Investment: $9,000 for Year 3
Creative Assets Refresh
Over the two-year history of the campaign, a healthy bank of creative assets has been
developed which will be leveraged in Year 3. With the limited budget available for Year 3, the
creative asset refresh will be focused exclusively on minor updates and resizes.
RESOLUTION NO. FWLI)C-2023-05
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Expanded Creative Assets Investment: $5,000 for Year 3
Website Enhancements
Based on learnings and priorities of the ItBeginsInFortWortli.com website, the agency
will develop a list of recommendations in conjunction with the client to evolve and maximize the
primary digital destination within the campaign.
Expanded Website Enhancements: $5,000 for Year 3
Media Management. Analytics and Reporting
Once media is approved, the agency will facilitate the launch of all assets into market
based on the approved plan. The agency handles all final negotiations and placements based on
the approved media plan, including tagging and trafficking responses across all digital platforms
and within digital assets. The agency has a strict quality control process in place to ensure
flawless activation of the integrated campaigns. Equally as important after the launch is
Schaefer's attention to ongoing media management and optimization. None of the agency's
campaigns are "set it and forget it"; rather, their team is dedicated to daily review and
optimization of digital placements. Many of these efforts are managed leveraging Schaefer's
media management platform. The agency will also regularly monitor other campaign activities
and opportunities to enhance and grow efforts on behalf of the Economic Development team,
and bring these forward to the client.
The measurement for success of any marketing campaign is in the results. The agency
will report against a unique Measurement Plan to outline key audiences, objectives, 1"'-Pls and
performance metrics for the campaign. Schaefer will work in close partnership 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 quarterly
basis with strategic analysis and recommendations.
Expanded Media Management, Analytics and Reporting Investment: $32,000 for Year 3
Expanded 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.
The Schaefer account team will continue to 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.
RESOLUTION NO. FWLDC-2023-05
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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
bi-weekly 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 Account Management Investment: $32,000 for Year 3