THE CHALLENGES CREATIVE AGENCIES FACE, AND HOW BEST TO TACKLE THEM.
Creative thinking may be front of your mind but to be competitive there are a number of challenges you need to face head on.
Focus on new business as well as service
Clients love smaller agencies because they know due to their size they will likely be given special attention. The issue, however, is that while pandering to the whims of a star client an agency can risk taking its eye off the ball when it comes to attracting or retaining business.
That’s not to say service isn’t important. Nurturing long-term client relationships is the mainstay of what makes smaller agencies attractive to clients across the long term.
Proof of success
Larger agencies don’t always have the upper hand in demonstrating profitability and success. Bottom line results matter. So you need to talk figures, showing proven ROI, leads, conversions and increased customers.
Being ready to grow
Investing for growth is a key consideration in preparation for the future. For instance, if your client grows, you need to be agile enough to grow with them, otherwise, they may be tempted to move to a bigger, more capable agency.
Separating your agency from the pack
You no doubt want to be seen as a big player that can compete on the same level as larger agencies. As a smaller agency, it’s natural to compare yourself with bigger agencies. You may feel intimidated by the bigger agencies and that you have insufficient experience or resources to compete for big business. However, the fact is being smaller and not generalist you are able to gain insightful knowledge of specialised services or sectors. Size is no longer an issue; it’s the specialised expertise that really counts. Specialising in one or more fields will help separate your agency from others that are simply jacks of all trades.
Delivering added value
Brands look for resourcefulness in bringing added value benefits. If you are able to uncover new lines of business from your client’s brief, then more power to you.
Build your reputation through branding
With a crowded market of me-too agencies, you should see your branding as your platform to set yourself apart from the rest. To drum up interest and excitement in your service your image and messaging needs to be distinctive and highly tuned to companies.
Adopting new technology
Remain at the cutting edge and the pace of innovation is essential too. This can be a real challenge with day to day work life taking priority. But it is crucial as tapping into the best continually evolving ways to reach out to target consumers, as well as measure and analyse customer metrics and hit rates.