The UK’s advertising revenue is projected to hit £24 billion in 2020, with an annual sector growth of almost 7%.
There are around 10,000 advertising agencies and more than 25,000 marketing companies operating across the country. As more businesses use an agency to boost brand awareness, the industry continues to grow, with fierce competition spurring creativity and innovation.
Relationship with clients
Every client will have different requirements, some may need you to come up with a great ad campaign, while others seek assistance for their marketing materials. Working with clients to effectively promote their product in the most effective places is your goal as an agency.
Determining a fair price for clients can be tricky, you need to define the extent of work required before completing the remuneration agreement. You also need to establish what payment structure will suit your needs, whether it be commission-based or a fee system.
In the initial discussions with your client, you need to set out what each party intends to achieve and identify any potential concerns. You should brainstorm what solutions will help you achieve the most desired results and encourage a regular review of your remuneration.
The relationship you have with your clients should be more than strictly business; try to establish a personal connection and trust. Arrange in-person meetings when possible and, when you take on new clients, assign a go-to contact at your agency to handle any queries.
Showcase your work
The best way to sell yourself to a potential client is to present your best ads and campaigns. Show examples of work where you’ve had a successful impact on the same audience your potential client hopes to attract; use data and stats to show how effective the campaign was.
Embrace social media to build up brand awareness for your company; the pure nature of the business you’re in means you should be great at effectively promoting your company and services. Share your previous campaigns and communicate with your followers regularly.
Your website is the main tool to showcase your abilities and attract new custom. Be bold, simple and
user-friendly; you want to create a site that has a lasting impression. Make sure you regularly analyse your web traffic; this is very important if you operate entirely online.
Ask your previous clients for referrals to attract new business. Remember, their ads will also showcase your work in a different location. Ask your clients to include a link to your website and list your company name beneath any ads you’ve created to promote your services.
Manage a team
To be a successful entrepreneur you need to manage and train your employees to develop their skills and work effectively. Recruiting and coaching a skilled team takes time; to keep your staff engaged, try to offer incentives, challenges and a positive work environment.
You should have a dynamic team with a range of talents; list the strengths and weaknesses for each employee and identify any skills gaps. Offer extra training incentives and make sure you have the necessary tools – such as great software and tech equipment – to succeed.
If you’re a sole operator you may contract employees on a freelance basis; maintain a good relationship with your freelancers to build up a wealth of contacts in the sector. You ideally want a group of creatives who you can choose from depending on the type of work involved.
You should view freelancers as short-term employees as opposed to a resource; invite them to the office and establish a more personal connection. Make sure they can log onto the system and have adequate desk space at your offices so they can hit the ground running.