How do startups, established companies and even influencers get more traction, to make a deal, and build up buzz? Many work with advertising agencies to help them get their messages across and give them a serious boost. In fact, advertising agencies often play an important role in helping companies profit and scale digitally and offline.
There are thousands of advertising agencies operating online in the United States. And COVID didn’t seem to have much of an impact on the industry. Between 2020 and 2021, growth in advertising agencies soared by more than 13% according to figures from IBISWorld.
With that in mind, you might want to revitalize or start your own advertising agency. However, you cannot afford to just market your business and hope it all goes well. With so much competition, you owe it to the future of your business to focus on your branding efforts.
With a strong corporate brand, you can differentiate yourself from any other advertising agency in the market. At the same time, you can attract stronger, well-coordinated talents for your core team.
Not sure where to start branding your advertising agency? Try these handy tips and steps to cement your brand and bring it to the world.
1. Highlight your team’s superpowers.
Your advertising agency is not like other advertising agencies. So highlight your uniqueness as part of your brand. Instead of presenting itself as one of the herd, is the purple cow, which only appeals to a certain group of customers. The more you focus on your individual strengths and advantages, the easier it will be for you to acquire qualified leads.
Consider the case of the Anidjar & Levine law firms in Florida. After years of paying advertising agencies to handle their marketing, the founding partners decided to take legal advertising into their own hands. Your main superpowers? The team already knew how to do it negotiate and build win-win relationships. As a result, they transferred these legal skills and other resources to the media buying field. As a result, Anidjar & Levine founded his own in-house advertising agency.
2. Identify and target your ideal customers.
It can be tempting to serve all types of customers when you first open your advertising agency or after pandemic economic fluctuations. Resist this temptation. Positioning yourself as an advertising agency for “everyone” dilutes your brand.
Buyers want to feel part of an exclusive group. If you’re willing to take on any customer who has money, you have little power or control. In addition, you end up hurting your agency by restricting it with an “all-rounder, master of none” aura.
Yes, it can be difficult to narrow down your target customer base. It can even feel a little cramping when you do your the addressable market as a whole is smaller than you thought Still, selling a stronger product to a concentrated number of people or businesses can be lucrative. Think of it as the difference between a luxury sports car and an everyday sedan. The high-end vehicle is not for everyone, but its manufacturers can fetch much higher prices. When you are branded as Ferrari the advertising agencies for a smaller audience, you spend less time spinning your wheels. You’ll also spend more time building a solid pipeline.
3. Keep an eye on your competitors.
Interference occurs in all areas, including advertising and marketing. Your closest competitor may not be a company you know. That is why it is important to keep up to date with established and emerging advertising agencies.
You can use tools like social listening software to gauge what’s happening in the race to win ad agency contracts. You can also hire a team member to read agency-related news and stay up to date on industry trends.
How will this help your ad agency with their branding strategy? In all honesty, you will know if the time has come to move up any aspect of your branding in order to stay on top. For example, a competing agency can carry out its own branding push. You can respond by countering with your own branded message. That’s what Wendy’s doing with his on Twitter cheeky replies to competitors. Your agency doesn’t have to be quite as brave, but the principle – and the branding result – remain the same.
4. Rethink your brand and branding strategies regularly.
The best ways to brand or showcase your ad agency and its key skills will change over time. Just a few years ago, TikTok wasn’t on the radar. Now it’s a player for consumer attention, and your ad agency may specialize in creating viral TikToks for customers.
As you keep up with the changes in the media, you keep up with the changes in your brand. One way to do this could be to routinely seek both internal and external feedback. Customer and employee surveys can provide you with a wealth of data to ensure your branding stays up to date. The last thing you want is for your brand to succumb to a feeling of being out of date.
Of course, if you end up merging with another advertising agency or suddenly expanding, you’ll want to rethink your brand. Growth often leads to changes in the values that support your brand or in the way you want to present your brand.
As the head of an advertising agency, you are in a competitive environment. Make sure you’ve positioned your agency to be light years ahead with solid branding efforts.