Starting an advertising agency can be a lucrative and exciting business venture. However, it is important to have a well-thought-out marketing plan in place.
As the owner of an advertising agency, you know that having a good marketing plan is essential to your success. After all, without customers, your business will not survive.
But what goes into a good marketing plan? Below, we will go over some of the key components of a successful marketing plan for an advertising agency.
Key Components of an Advertising Agency Marketing Plan
A great marketing plan has eleven sections as follows:
- Executive Summary
- Target Market Segments
- Unique Selling Proposition (USP)
- Pricing and Positioning Strategy
- Distribution Strategy
- Offers
- Marketing Materials
- Promotions Strategy
- Digital Marketing Plan
- Conversion, Referral, and Retention Strategy
- Financial Projections
We provide more detail for each of these key components below.
Executive Summary
The executive summary is a brief overview of your entire marketing plan. It should include your overview information from each of the other sections, such as your target market, unique selling proposition, key promotions strategies, and financial projections.
Target Market Segments
When it comes to marketing an advertising agency, it is important to identify your target market segments. Who are your most likely customers? Consider factors such as age, gender, income, location, and lifestyle when determining your target market segments.
For example, customers of an advertising agency include small businesses, medium businesses, and large businesses.
Break down each of these segments even further by considering their needs, wants, and pain points. For example, the needs of advertising agency customers may include raising brand awareness, generating leads, or increasing sales.
By understanding your target market segments, you will be better equipped to create marketing messages that resonate with them.
Unique Selling Proposition
Your unique selling proposition (USP) is what sets your advertising agency apart from other advertising agencies. What do you offer that nobody else does?
For example, your USP might be that you are the only full-service advertising agency in your city. Or, you might offer a money-back guarantee if your clients are not happy with your services.
No matter what your USP is, make sure it is clear in your marketing materials. Your clients should be able to see immediately what makes you different from the other business in their area.
Pricing and Positioning Strategy
Your pricing and positioning strategy will be determined by your target market segments and your unique selling proposition.
For example, if your target market is small businesses, you may want to position yourself as a budget-friendly option. Alternatively, if your target market is large businesses, you may want to position yourself as a premium option.
No matter what your positioning strategy is, make sure your pricing strategy is competitive. Consider conducting a market analysis to see what other advertising agencies with which you compete are charging for similar offerings.
Distribution Strategy
Your distribution strategy outlines how you will get your marketing materials into the hands of your target market.
There are many ways to distribute marketing materials, such as direct mail, email marketing, social media marketing, and online advertising.
It is important to consider both online and offline distribution channels when creating your advertising agency marketing plan. By using a mix of both, you will be able to reach the widest possible audience.
Your distribution strategy documents how customers will buy from you. For example, will they buy directly from you in-person? Will they buy online? Will they purchase from your partners, distributors, etc.
Offers
Providing offers through your business is a great way to entice customers to make a purchase. Consider offering discounts for first-time buyers or loyalty rewards for frequent customers. For an advertising agency, you may want to offer a free initial consultation or a discount on your services.
Your offers should be tailored to your target market segments and reflect the overall goals of your marketing plan. For example, if your goal is to increase brand awareness, you may want to offer a free white paper or e-book on effective marketing strategies.
Marketing Materials
Your marketing materials should be based on your unique selling proposition and target market segments. They should be designed to grab attention and generate interest in your business.
Some of the marketing materials you might want to create include product brochures, flyers, and website banners. You will also want to make sure your branding is strong and consistent across all of your marketing materials.
Promotions Strategy
Your promotions strategy includes the methods you will use to attract new customers. It should be designed to generate excitement and encourage customers to try your business.
Advertising agencies should consider the following promotional strategies:
- Host a contest or giveaway on social media.
- Offer a free consultation to potential clients.
- Provide discounts on your services to first-time buyers.
- Run a promotion on your products or services.
- Give away branded merchandise (t-shirts, hats, etc.)
- Hold an event or webinar on a relevant topic.
Your promotional strategy should be based on your target market segments and the overall goals of your marketing plan. By using a mix of promotional strategies, you will be able to reach the widest possible audience.
Digital Marketing Plan
In today’s digital age, it’s important to have a solid digital marketing plan. This will help you reach a wider audience and drive more traffic to your business.
Some of the digital marketing tactics you might want to use include search engine optimization (SEO), pay-per-click advertising, social media marketing, and email marketing. You will also want to make sure your website is mobile-friendly and easy to navigate.
Advertising agencies should consider the following digital marketing strategies:
- Search engine optimization (SEO)
- Pay-per-click advertising (PPC)
- Social media marketing
- Email marketing
- Website optimization (SEO)
- Website design
- Mobile optimization
- App development
- Online video marketing
- Influencer marketing
Your digital marketing plan should be based on your target market segments and the overall goals of your marketing plan. By using a mix of digital marketing tactics, you will be able to reach the widest possible audience.
Conversion, Referral, and Retention Strategy
Your conversion, referral, and retention strategy should be designed to keep customers coming back. Consider offering loyalty rewards, discounts for referrals, and other incentives to encourage customers to continue using your business.
You will also want to make sure your customer service is top-notch. Respond quickly to any complaints or concerns, and always go above and beyond to exceed customer expectations.
Advertising agencies should consider the following conversion, referral and retention strategies:
- Offer loyalty rewards or discounts.
- Give referral discounts to customers.
- Provide incentives for customers to return.
- Offer exclusive deals and promotions.
- Have a strong customer service team.
- Send thank you notes or cards to customers.
- Personalize your service or products.
Financial Projections
Last but not least, you will need to create financial projections for your business. This will help you track your progress and ensure you are on track to meet your goals.
The key information to include in these financial projections are your monthly marketing expenditures and expected sales. Be sure to update your projections on a regular basis to reflect any changes in your business.
Financial projections for a startup advertising agency may include:
- Monthly marketing expenditures
- Expected sales
- Cost of goods sold
- Operating expenses
- Profit and loss
- Cash flow statement
This is just a general outline of what should be included in an advertising agency marketing plan. Be sure to tailor the plan to fit your specific business needs. And, as always, consult with a professional if you need help getting started.
Summary
An advertising agency marketing plan is a critical tool for any business. By outlining your goals, strategies, and budget, you can ensure your agency is on the right track.
By following these steps, you can develop a quality marketing plan that will help you successfully launch and grow your advertising agency. Just remember to be creative, think outside the box, and always put your customers first. With a little hard work and dedication, you will be well on your way to success!