Do you wish to start an advertising agency, but don’t know how to go with it? Are you interested in capitalising on advertising agency? If you nod in affirmation, here is what you need to put in place to get started.
An advertising company earns a steady income in various ways, so it’s important you decide the type of advertising agency you want to venture into as an entrepreneur.
You can kick start this business with a small capital since it’s a virtual not a material business. And you can start an elaborate advertising firm depending on the capital you have.
Be informed that this advertising business involves patience, dedication and perseverance. If you have those three elements, you have the potential to thrive well in the business.
1. Spell out Your Advert Agency Goal While starting an advert agency business, it’s required of you to spell out the goals of your propose business. This is so important because it will in the long run be the propelling force of your advert company.
You need to reach a conclusion in mind if you are going to build the next big advert firm or you will just run it as a side or part-time business.
So therefore, your business goal will determine the way and manner you will run the business in its entirety.
2. Define Your Advert Agency Niche If you are with me you should recall I said that advertising company makes income in several ways. For instance, the traditional or old advert agencies create advert like radio jingles, TV advert, billboard etc.
While the modern advertising company focus fully on web advertising campaign which includes social media advert services, Search engine marketing, keywords research tactics to mention but few.
So, it’s very vital you have a specific niche of advertisement you will be running and map out your services. Albeit, some big advertising firm offer numerous adverts services while other run two to three varieties of adverts campaign.
Specialising on a particular niche will guide you in what aspect you need to focus and put in more efforts. So, what are you waiting for?
3. Business Plan Another important aspect to focus on while starting an advertising agency is the issue of the business plan. A well detailed business plan is needed for your advertising firm to thrive well in the future unknown.
Also, the business plan is very essential if you plan to secure loans from financial institutions or getting investors to fund the agency.
However, an efficient advertising agency business plan should contain;
The Business Executive Summary
The firm sales projection.
Expected capital, etc.
With an ideal business plan, you will have knocks and direction of sticking firmly with the business goals.
4. Obtain Business License One of the important feature that gives a new business the rest of mind of dealing peacefully without fear is the acquisition of working permit and business license.
So, before you start your advertising firm, visit the right government body saddle with such responsibility to acquire your advertising firm license and working permits.
Failure to obtain these documents, your advertising business will be victimised and disturbed hence, no brands will want to partner with you with the intention that your firm is not legally recognised.
5. Get an Office Location
Immediately your agency is approved to operate legitimately, the next thing in line is to find a serene location where you can set up your advertising company.
It’s advisable you set up your advertising company in a commercial area so that your potential clients will easily notice.
Let your office be furnished with office instruments like computers, printer, fax machine, business phone and the likes.
However, if you don’t have the fund to secure an office, you can start small by running the business from home, but nevertheless, you’ll still need to get the office equipment ready.
6. Build up a Portfolio This aspect is very crucial for your seasonal and potential prospects or clients to believe your skills and work with your agency. So, gather all of your previous work in the advertising realm together to form a portfolio.
In fact, the majority of people that own an advertising agency has previously worked as an employee before in the advertising industry. Therefore, if you have no experience in the field before, start searching for small advertising campaign from small clients so as to enable you to build up an interesting portfolio.
A business that doesn’t have any online presence will be difficult to reach. Get a website for your advertising business so as to serve as a business card for your clients.
Ensure that your website is designed in such a way that it’s user-friendly and very attractive. Let your website has a well detailed information about your company, testimonials from various clients etc.
8. Create Awareness of Your Advert Agency
That you are starting an advertising agency doesn’t mean you shouldn’t advertise your brand existence in the competitive market. Approach the advertising media platforms you want to use and strike some deals with them.
Similarly, embrace social media marketing and publicize your arrival to your target audience on Facebook, Twitter, Google+, Instagram etc.
Since you’re starting an advertising agency, you should know the importance of advertising in reaching out to potential clients.
Having put all the above discussed into place, you are too good to go. But…
The ‘but’ here is that you should Offer Your First Business Deal as a Bait.
Offer your first advert campaigns as a promotion for your clients. It is one of the fastest ways to gain your customer’s heart so that they will come visit you again.
Most businesses don’t trust new advertising firm because they believe they have little experience to run an effective advert campaign.
So, offering a free business deal to them as first timer will let them know the kind of stuff your agency is made up.
End Note If you patiently follow the above steps with passion, dedication and perseverance, you will definitely take advertising agency to the next level.
IKOI ABODE IKENNA (Pharmabode) is a pharmacist, Motivational speaker and an Entrepreneur that is happy to work while others are out partying. Have a Business idea to discuss? Join: www.westentrepreneur.com