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Advertising Agency Business Plan
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Promerit Advertising
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
Promerit Advertising will offer marketing services to companies that are looking to employ email marketing techniques as the cornerstone of their marketing program. It is estimated that in Year 1, over 250 billion emails will travel across cyberspace. Email marketing is quickly becoming a cost-effective method to reach a target audience. According to Jupiter Communication research, email ad-response rates currently averages between five to 15 percent. At the same time, the report noted that only 15 percent of Web users read all email messages in their entirety.
The potential is there but so is the risk that the target customer will completely reject the advertising. Email marketing is a science. There are effective strategies that will assure that the company will reach the greatest number of potential customers.
Promerit Advertising specializes in successful email marketing campaigns. Its owners, Robert Humphrey and Cheryl Littlejohn have over eight years of experience in email marketing campaigns between them. Robert was project leader for the successful Buy.com and Verison email marketing campaign. Cheryl was technical lead of 800.com’s successful email campaign before joining Robert as technical lead of the Verison email campaign.
Promerit Advertising will design, build, test and deploy the email campaign. It will also report the progress of the campaign in real-time to provide our customers maximum flexibility. At the end of the campaign, Promerit will analyze its success in order to improve the company’s future campaigns.
1.1 Mission
Promerit Advertising will offer its customers the best methods and tools in planning and implementing a successful email campaign. Our campaigns will cut through the mumbo jumbo of mass marketing, increase sales, and enhance customer satisfaction with the company. Promerit Advertising email campaigns will grab readers immediately and drive home the right message to the right audience. We will exceed our customers’ expectations for campaign returns.
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Advertising Agency Business Plan Template
Written by Dave Lavinsky
Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their advertising agencies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a advertising agency business plan template step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
What Is a Business Plan?
A business plan provides a snapshot of your advertising agency business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Business Plan
If you’re looking to start a advertising agency, or grow your existing ad agency business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your advertising agency business in order to improve your chances of success. Your advertising agency business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Advertising agencies
With regards to funding, the main sources of funding for a advertising agency business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the advertising agency will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for social media marketing businesses.
How to Write a Business Plan for an Ad Agency
If you want to start an advertising agency business or expand your current one, you need a business plan. Below are links to each section of your advertising agency business plan template:
Executive Summary
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of advertising agency you are operating and the status. For example, are you a startup, do you have a advertising agency that you would like to grow, or are you operating a chain of advertising agencies?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the advertising industry. Discuss the type of advertising agency you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
Company Analysis
In your company analysis, you will detail the type of advertising agency you are operating.
For example, you might operate one of the following types of advertising agencies:
- Full-Service Advertising Agency : this type of ad agency performs a variety of client services including digital, traditional, social media, radio and print advertising campaigns.
- Digital Advertising Agency: this type of ad agency focuses on digital marketing and advertising; social media marketing, email marketing, content marketing, web design, and SEO.
- Traditional Advertising Agency: this type of ad agency specializes in traditional marketing and advertising campaigns in ways such as radio and television commercials, billboards, magazines, and newspapers advertisements.
In addition to explaining the type of advertising agency business you will operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews, revenue generated from advertising campaigns, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
Industry Analysis
In your industry analysis, you need to provide an overview of the advertising agency industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the advertising agency industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy, particularly if your research identifies market trends.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your advertising agency business plan:
- How big is the advertising agency industry (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your advertising agency business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
Customer Analysis
The customer analysis section of your advertising agency business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: start-up companies, large corporations, small businesses and non-profit organizations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of ad agency business you operate. Clearly, a well-established business looking to expand operations would respond to different marketing promotions than a small start-up, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most advertising agencies primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Competitive Analysis
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other advertising agencies.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes marketing agencies, graphic designers and freelancers.
With regards to direct competition, you want to describe the other advertising agencies with which you compete. Most likely, your direct competitors will be house flippers located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What types of advertising do they specialize in?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide a wider variety of advertising services?
- Will you provide more team support?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a advertising agency business plan, your marketing plan should include the following:
Product : In the product section, you should reiterate the type of advertising agency company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to advertising services, will you include public relations and/or social media management services as well?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place : Place refers to the location of your advertising agency company. Document your location and mention how the location will impact your success. For example, is your advertising agency business located in a busy retail district, a business district, a stand-alone building, etc. Discuss how your location might be the ideal location for your customers.
Promotions : The final part of your advertising agency marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local websites
- Social media marketing
- Local radio advertising
Operations Plan
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your advertising agency business, including marketing your services, obtaining new clients and launching new services.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to have X number marketing campaigns completed, or when you hope to reach $X in revenue. It could also be when you expect to expand your business to a new city.
Management Team
To demonstrate your advertising agency business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in managing advertising agencies. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in overseeing advertising campaigns or successfully running their own advertising agency.
Financial Plan
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you obtain two new clients per month or five? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your advertising agency business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a advertising agency business:
- Location build-out including design fees, construction, etc.
- Cost of equipment and supplies
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or sample advertising campaigns.
Putting together a business plan for your advertising agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the advertising agency industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful advertising agency business.
Advertising Agency Business Plan FAQs
What is the easiest way to complete my advertising agency business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Advertising Agency Business Plan.
What is the Goal of a Business Plan's Executive Summary?
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of advertising agency you are operating and the status; for example, are you a startup, do you have an advertising agency that you would like to grow, or are you operating a chain of advertising agencies?
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Creative Agency
BUSINESS PLAN OCEANIA CREATIVE PRINT & INTERACTIVE
1200 Forester Drive Indianapolis, Indiana 46204
Oceania Creative is in the business of providing premium consulting, brand communications, and visual design services. The Oceania mission is to provide consulting and graphic production services to selected prospect clients primarily in the manufacturing industry. Through the application of knowledge, business relationships, and effective service delivery and continued success of Oceania clients, we will become recognized as a premier industry provider of communications services.
EXECUTIVE SUMMARY
Target market, company team, competitive landscape, projected 5-year financials.
Purpose of the document is to provide a high-level, executive overview of Oceania Creative Print and Interactive business plan for the year 2001-2005. This document is to be used as information and business planning purposes in attaining a second round of credit-based capital.
Description of the Business
Oceania Creative is in the business of providing premium consulting, brand communications, and visual design services.
The Oceania mission is simple. Oceania will provide consulting and graphic production services to selected prospect clients primarily in the manufacturing industry.
Through the application of knowledge, business relationships, and effective service delivery and continued success of Oceania clients, we will become recognized as a premier industry provider of communications services.
Business Problem
The manufacturing industry, particularly, old-line heavy equipment, agricultural, and transportation have difficult business issues related to high-end communications services.
In the manufacturing environment, companies are striving to be competitive in all aspects of manufacturing. This means processes and technology must work together harmoniously and must be integrated. Even world-class companies have found many improvement opportunities in communications processes and market perceptions.
Communications services supported by proven concepts, tools, and methodologies by our experienced designers and consultants, our process accommodates the client's needs. Our communications and marketing experts help the client manage operational change and focus on integrated resource management.
We are committed to creative concepts and tangible results, evaluation, and continuous improvement. With the client's leadership, OC's business approach helps them achieve their vision of world-class market communications.
Examples of our service offerings:
- Communications consulting
- Brand management
- Customized executive sales event specialties
- Traditional graphic design services
- Internet/web-based design and production services
- Benefits of using Oceania Services:
- Increased market responsiveness
- Increased customer retention
- Improved brand management and leveragability
- Improved communications processes and decision making
- Improved market awareness
Target prospect market companies include the following list of companies with primary locations and/or headquarters based in the Midwest. The Midwest is defined as a six-state area including, Michigan, Ohio, Indiana, Illinois, Wisconsin, and northern Kentucky. The states of Minnesota and Missouri will be considered a secondary market due to time, travel, and budgetary requirements in pursuing business in these areas. However, for the right prospect with the right project, with the right level of revenue commitment, we will consider investing in pursuing the business in that geographic area.
Target companies listed below are primary targets:
- Tier one automotive suppliers
- Tier two automotive suppliers
- Diversified chemical and industrial suppliers
- Diversified financial and insurance services providers
- Food and food services companies (over $500 million revenue)
Market Size
The current market size analysis, based on identified prospects and selected categories of current and projected spending, has estimated this market at more than $750 million in current communications spending.
Note: Detailed industry and analysis methodology information available on request.
Revenue Model
Oceania revenue will be based on client needs and market competitive service rates.
Examples of client billing models include:
- Project-based fixed price agreements
- Consulting (one-time and ongoing brand leadership services)
- Design and production services (project and ongoing design maintenance)
Expected margins are estimated at 30-35 percent for graphic production services and 50-65 percent for consulting services. Production services are required to align our companies with client to provide ongoing management and design services to carry projects from concept to delivery.
The Oceania team is comprised of seasoned design, consulting, and management professionals. Experience is our hallmark. The Oceania team has an average of 10 years of experience in communications, marketing, and related disciplines, and 12 years in professional brand and executive communications strategy consulting experience.
Each team member brings industry relationships. Oceania has an expectation of its sales and consulting personnel to leverage these relationships in a meaningful manner and to demonstrate a direct relationship to revenue contributions.
We intend to continue to compensate our entire team with an outstanding package of ongoing salary with individually based bonus and fringe packages. These packages will be based on performance and return to the Oceania enterprise, primarily revenue-based packages for sales professionals and relationship-expansion-based incentives for our consulting professionals.
Note: Professional profiles available on request.
Market Awareness
We plan to achieve industry and client recognition and establish a market reputation by providing superior service delivery and enabling business performance for our clients. Achieving our strategic vision will play a major role in our long-term success and ongoing profitability.
Community Involvement
Oceania Creative will play an active role in community-based organizations to support important arts-based programs as well as continued involvement in business-based professional organizations. Participation in community and business organizations is critical to business success and employee satisfaction. We are actively researching and engaging leading organizations to determine which organizations will best serve the goals of the community at large, our organization, and associated business community partners.
The following is a short list of professional organizations we have sponsored or have participated in.
- American Institute of Graphic Arts
- American Marketing Association
- Direct Marketing Association
- Executive Men's Clubs
- Executive Women's Clubs
- Executive Golf Organizations
Each year competition in this market space gets stronger and stronger. Our competitive advantage will be our superior service delivery and client satisfaction; however, in this environment it may not be enough. Thus our focus on leveraging industry and client relationships will become tantamount to continued revenue growth.
This market has a unique competitive model. Companies we will compete against in our dayto-day operations and sales pursuit will range from 3-person high-level consultant partnerships to established, multimillion-dollar advertising agencies such as Ogilvy and business management consultancies such as Accenture and Deloitte & Touche. However, members of our team will exercise high-level relationships particularly with the business management consultancies. Our leadership team has participated with these organizations within high-level engagements—a true win/win environment for revenue generation.
Success to Date
Oceania has had many successful engagements and client experiences to date. Two of which address attainment of strategic intent.
Tangible Results
Client Acquisition Over the first 16 months of our business operations, Oceania has engaged 35 companies at the Senior Manager through Vice President level with business engagements resulting from 15 percent of those pursued relationships. This has resulted in a 50 percent win rate for sales pursuits. Market Awareness Recently, our company has been asked to participate as speakers at several communications/ marketing/design industry conferences. Attaining speaker-level positioning at these conferences is a preliminary indicator or our success in achieving market-leading (topof-mind) executive perceptions. Organizational results Over the past 18 months we believe we have assembled a team of 18 highly focused, nimble professionals. Our continued success will be predicated on the basis of our ability to work comprehensively as a team with a high degree of individual performance successes.
All financial projections are estimates and further detailed information and individual services-level reporting are outlined in additional documentation. All financial expectations are based on current level of success, sales performance, and a robust economic environment. A five-year expansion in the U.S. economy has contributed to a robust environment for communications services. This economic environment cannot be predicted or expected for years upcoming. All dollars are listed in millions.
Note #1: This table does not represent distribution of partner and investor profit distribution. Nor does
it represent financial impact of financial institution operating capital interest.
All issues related to Note #1 shall be conducted in detail with written approval of officers on the company.
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Advertising Agency Business Plan
Looking for the perfect business plan for your new advertising agency You are at the right place We have created this sample Apex Solution Advertising agency business plan to help you get started with your business plan writing
Entrepreneurs spend months building great products, but imagine what if it does not reach the right audience? Can the startup taste success?
The answer is simple, No.
That makes marketing and advertisement the most important part of the business. But when owners do not have expertise in this domain themselves, they usually hire professional agencies to handle the marketing part of their business.
A marketing agency, advertising agency, creative agency, or ad agency , is a business directed to creating, planning, and executing marketing campaigns and sometimes other forms of promotion activities for its clients.
If you want to start a new advertising agency business, the first thing you will need is a business plan. Use our sample Apex Solution – Advertising Agency Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new advertising agency, spend as much time as you can reading through some examples of service-related business plans .
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Apex Solution – Advertising Agency Business Plan for you to get a good idea about how perfect an advertising agency business plan should look like and what details you will need to include in your stunning business plan.
Advertising Agency Business Plan Outline
This is the standard advertising agency business plan outline which will cover all the important sections that you should include in your business plan.
- Introduction
- Mission Statement
- Vision Statement
- 3 Year profit forecast
- Company Strategy
- Market Analysis
- Business Owners
- Institutions & Organizations
- Online Companies
- Business Target
- Market Trends
- Competitive Analysis
- Sales Forecast
- Sales Yearly
- Detailed Sales Forecast
- Personnel Plan
- Average Salaries
- Important Assumptions
- Brake-even Analysis
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your advertising agency business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.
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Advertising Agency Business Plan Template
Advertising agency business plan.
If you want to start an advertising agency or expand your current ad agency, you need a business plan.
You can download our business plan template (including a full, customizable financial model) to your computer here.
The following advertising agency business plan template gives you the key elements to include in your own advertising agency business plan. It can be used to create a business plan for a full-service digital marketing agency, social media marketing agency, email marketing agency, creative agency, public relations firm, or another type of agency that provides marketing and/or advertising services.
Sample Business Plan Template For Advertising Agencies
Below are links to a sample of each of the key sections of a successful advertising agency business plan:
- Executive Summary
- Company Overview
- Industry Analysis
- Customer Analysis
- Competitive Analysis
- Marketing Plan
- Operations Plan
- Management Team
- Financial Plan
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Advertising Agency Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Advertising Agency Business Plan Sample
APR.12, 2019
Do you want to start advertising agency business?
In these times where people buy benefits instead of products, it has become really significant to advertise the services whether you are a small business or a larger one. To let people know why they should choose your products rather than the same product of another company, you have to advertise in the best way one can. Do you think that you have the mind to advertise in the best way one can? If no, then here we are ‘Albert Advertisers’ with the professional minds to feature your brand. The sample business plan envisaging how Albert Advertisers will be started is given here for anyone who wants to know how to start an advertising agency.
Executive Summary
2.1 the business.
Albert Advertisers will be a registered and licensed advertisement company located in Austin, owned by Albert Finney. The business will be based on advertising and marketing small and large businesses in Austin by traditional means of making billboards and by using digital and social platforms.
2.2 Management
If you have decided to start an advertising agency, you should then make a detailed advertising agency business plan with a special focus on how you will be managing your business. Albert Advertisers will be managed by Albert himself. He will hire the perfect minds after rigorous testing to ensure the best and unique ideas for advertisement. Besides, he will hire IT Experts, Painters, and Web Developers to convert your dream of attracting a large audience into reality.
2.3 Customers
Our customers will be the owners of online companies and entrepreneurs of large and small startups based in Austin. Besides new startups, we also expect previously running businesses to avail our services whenever they have to market their new products.
2.4 Business Target
Enlisting the targets, you want to achieve in your marketing agency business plan, will help you in making a defined strategic plan to achieve them. Our target is to be the most popular advertisement agency in Austin and to earn a profit margin of $10k per month by the end of the first year.
Company Summary
3.1 company owner.
Albert Finney will be the owner of Albert Advertisers. Albert is a Bachelor in Advertising and Digital Media Design from the University of Oregon and has a two-year experience of working as Advertising Manager. By the mix of both his ideas and management skills, Albert is confident that soon he will be able to be prominent and distinct in the market he is going to serve.
3.2 Why the Business is being started
Albert has always been passionate about starting his own business. His degree and his interests toward digital marketing persuaded him to start a marketing company. This will be a source of earning a profit while using his dedication and skills in this profession.
3.3 How the Business will be started
Due to his prior experience as an Advertising manager, Albert knew well how to start a marketing agency. If you are new to this business and want to know about how to start a marketing company, you can take help from this sample business plan. Albert will hire a team of experienced web developers, painters, artists, billboard designers, and general assistants to advertise others’ business. A place will be taken on rent and necessary equipment like computers, advertising flags, banners, paint, brushes, boards, and accessories will be bought. Albert has decided to provide a comfortable and learning environment for his team and also to make a complacent place for the customers to sit and see our advertising projects. The startup summary is as follows:
Before deciding the services Albert analyzed what others are lacking in this domain. To adopt additional paths for advertisement besides traditional means Albert has decided to start a digital marketing agency. The overall services Albert Advertisers will provide are given here:
- Printing innovative flyers and brochures
- Designing appealing and unique billboards
- Making related banners and flags
- Making business cards and invitation cards
- Advertising through social media sites, websites, and emails
- Advertising using the technique of search engine optimization
Marketing Analysis of Marketing Agency
The next important step you have to take if you are looking for how to start your own advertising agency marketing plan is to do an accurate market analysis. You need to figure out what others in the same business are doing and what additional services you’ll have to provide to take a lead upon them. Albert has decided to start an advertising agency marketing plan not just for the sake of opening his own business but to introduce new ways of advertising and getting introduced to people. He has decided to follow both the traditional means of advertisements and the latest digital trends. So, you can have guidance from this sample business plan even if you are looking for how to start advertising agency marketing plan .
5.1 Market Trends
The entrepreneurs when they are taking a startup, can’t focus on each and everything by themselves and they want the services of some professional and trustee organization to do marketing work for their marketing plan . According to a report by IBISWorld, stats have shown a noticeable growth rate of 4.2% of the advertising industry in the United States over the past five years, generating a revenue of $54.5 billion annually. In the US alone there are more than 120 thousand advertising agencies running successfully. So the business can prove extremely beneficial for you provided that you plan it effectively.
5.2 Marketing Segmentation
To know and focus on the demands of its customers, Albert Advertisers has divided its customers in the following target groups. The detailed marketing segmentation of our target audience is as follows:
5.2.1 Business Owners: The biggest category of our customers will be the owners of small and large businesses based in Austin. They will avail our services of designing billboards and printing brochures for them as well as the services of our experts to make their website SEO friendly.
5.2.2 Institutions & Organizations : Our second target group comprises of various institutions and organizations located in Austin including public-sector organizations, schools, colleges and universities, political parties, sports organizations, and non-profit organizations. They will need our services to promote their ideas and services.
5.2.3 Online Companies : Our third target group will be the online companies not just restricted to Austin but to anywhere in the United States. They will avail just our services of social media marketing , developing websites and SEO their content.
5.3 Business Target
We aim at extending our services to several cities through our online servicing. Our financial goals to be achieved over the course of three years are:
- To balance the initial cost of the startup with earned profits by the end of the first year
- To achieve the net profit margin of $10k per month by the end of the first year and $15k per month by the end of the second year
5.4 Product Pricing
After considering the market demands, we have priced our services in the range similar to our competitors. However, we’ll be offering several discounts to introduce us to the market.
If you are going to start a social media marketing agency or even a traditional advertising agency marketing plan you must have an excellent sales strategy plan for yourself. To present your work to your target customers you have to prove that you can help them in gaining customers through advertisements, and that is only possible if your own advertisement plan for your company is extraordinary. If you are looking for how to start a digital marketing agency pdf format, you can take help from this freely available business plan on how to start marketing agency mainly focused on digital marketing.
6.1 Competitive Analysis
Our biggest competitive advantage is that our company will not only be making billboards and banners but in addition to these, we will be hiring IT Experts and Web Developers to advertise through digital media. Our skilled and experienced employees will make your website SEO friendly. Secondly, our staff especially web developers are highly experienced and despite their prior experience they will be given continuous learning programs. Moreover, we will be servicing online, thus enabling our customers to facilitate online orders. Lastly, we will be offering discounts to our customers to help us in getting introduced to a large audience.
6.2 Sales Strategy
- We’ll ensure a 25% increase in our website traffic every month and a gradual increase in our means to convert that traffic to our customers
- We’ll SEO our website to give our customers an example of how we work
- We’ll advertise us through posting appealing billboards and banners on public places and on social media
- We’ll display our works to our customers by sending them introductory letters and by exhibiting them in the waiting area for them
- We will offer a 20% discount on our services for the first five months of our launch
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan
If you are starting a marketing agency especially a digital marketing agency you will need to hire highly trained staff to prove that you are the best among your competitors. In this sample digital marketing agency business plan, we are enlisting the employees Albert will hire with a little job description.
7.1 Company Staff
Albert will manage the business himself, the staff he’ll hire is as follows:
- 1 Accountant to maintain financial and other records
- 1 Receptionist to attend to customers
- 4 Graphic Artists and Painters to design billboards, banners, and brochures
- 2 SEO Specialists to do search engine optimization
- 4 Web Developers to develop websites and to do social media marketing
- 2 Technicians to operate the machines
- 2 General Assistants to carry day to day tasks and to bring required materials
- 1 Cleaner to clean the facility
- 1 Driver to provide transport
7.2 Average Salary of Employees
Financial plan.
The success of a business heavily depends on the accuracy of its financial plan. A financial plan is important because it demonstrates what will be your startup expenses including the salaries of your employees. Your financial plan will help you in devising the way to balance your startup costs with the earned profits. While making your marketing agency business plan, you must hire a financial expert to make an accurate financial plan for your business. As you will have to do large scale advertisement and will have to hire experienced and highly paid staff, so it is very important to have an idea of the expenses you will have to meet and the investments you will have to do. For a rough estimate, we are providing the sample financial plan of Albert Advertisers, but still, it is advisable to seek the services of a financial expert for this task if you entering this venture.
8.1 Important Assumptions
8.2 brake-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
Download Advertising Agency Business Plan Sample in pdf
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Hello there. I write to express my gratitude over this sample of business plan. For quite a long time I had wanted to write down a business plan but did not where and how I could start. However, having stumbled over this sample, I can now Kickstart my own business.
Thank you so very much.
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Peter Levitan & Co.
The New Business of Advertising
The Basics: An Advertising Agency New Business Plan
Peter · April 20, 2020 · 2 Comments
Your 2020 Advertising Agency New Business Plan
Wha? Agencies do not have a solid plan? According to ad world research, most do not. I’ve seen stats that say only 40% of advertising agencies have solid active business development plans.
While repeating some of the core tenets of sales, I’ll add some new thinking based on my working with agencies in the USA and around the globe.
Be Unignorable.
That said, the bottom-line for building a productive advertising agency new business plan is to do the sales plan actions that are tried and true – with the objective of standing way out. That means having the goal of being unignorable. Not easy, but a ripe goal to pursue.
Start Here.
These actions are general sales actions that are modified for selling a highly competitive service like your advertising agency. By the way, congrats if you’ve gone beyond just offering a service to having a tool or system that you can resell. Give me a shout and I’ll show you examples of what I mean.
You have to break out of the competitive pack. I don’t care if you’re a two-person or a multi-national. You need to say something to a prospective client that stands out and makes them want to make direct contact or say yes when you ask to speak with them.
The agencies that win today deliver messaging that is: well-targeted, succinct and competitive.
Because of this starting point, distinctive agency positionings help clients to quickly recognize the agency’s expertise and value.
I’ve put “winner” agencies into three messaging buckets. They tell prospective clients: ‘what we do’, ‘how we do it’ and ‘who we do it for’ to illustrate the strength of their individual positioning strategy.
The Start Here is without question your agency’s positioning.
There are essentially 6 positionings for an advertising agency. Whatever you choose…. please look like an expert.
- You are a digital agency. Yes, the market wants a digital specialist. However, in 2020 virtually every advertising agency is digital. So, when you day “digital” a potential client might need a bit more meat on that bone. Is there an area of digital that you can point to? Data analysis? Influencer marketing? Te worlds TikTok specialist?
- You are a full-service agency. This is a tough one. Selling in full-service means that when I visit your website you have a list that includes service offers that include: strategy, branding, advertising, content, data management, media buying, mobile, podcasting and on and on. You do it all. Frankly, your agency might do it all. But, today a large percentage of clients simply do not believe that one agency can be an expert in both high-level design and content development, TikTok and Instagram and programming. Or, mobile and video and TV commercial production. To get this jack-of-all-trades right, you’ll need some savvy copy and some serious proof.
- You specialize in a geographic location. Agencies that do this tell prospects that they are a Boise agency or all about Adelaide or just want to work with big-city clients in L.A. or NYC.
- You specialize in being strategic or have a specific media expertise. I love it when I hear that an agency can say something as specific as… “we are a mobile advertising specialist”. or, that the agency is the ultimate purpose-driven agency.
- You specialize in a demographic. Some agencies tell clients that they are woman’s marketing or Gen X or Hispanic or LGBT specialists.
- You tell the world that you are Creative. This can be a tough one to sell. The definition of “Creative” is in the eye of a beholder. Just saying it isn’t good enough. Yup, some agencies can get away with this. But, you better have a “Work” section on your website that can prove this point – unquestionably. If you are in fact Creative, you better have an award plan that delivers third-party adulation. Clients need to see that industry experts agree with the fact that you are in fact Creative.
Have A Sales Plan (Or, If You Prefer: The Advertising Agency New Business Plan).
Business Development . Sounds cool. But, to get to the point, it is good old fashioned sales that you are going after. Both terms work. But, I highly suggest that in today’s tough branding/advertising/digital/content, etc. market that you have to be a good salesperson = a company with a robust sales plan to grow sales.
To get a qualified lead and then a sale you need to sell. Frankly, most advertising agencies do not have a great deal of experience in sales. Repeat: To sell, you need a sales plan. This plan must include:
- Hunger. Always be hungry.
- Business objectives. That means… how are you gonna make moolah?
- Sales objectives. What types of clients do you want and will they want you?
- The right positioning. What will make that client want to take notice of you?
- Powerful, hard (actually impossible ) to ignore targeted messaging. Deep insights work here. Aim at being unignorable.
- An inbound strategy. This means being both efficient and smart. Example. I named this post “The 2020 New Business Plan For Your Advertising Agency“. I used “Advertising Agency” vs. “Ad Agency” because Google Trends tells me that people search on the word “Advertising” more than “Ad”. You can see the chart at the top of this page.
- An outbound strategy. Better yet, an Account Based Marketing plan. Know who you want to get and then have a smart outbound plan to make them love you.
- Cold-calling. Nope, go for warm-calling.
- Be where clients are looking for agencies. Read this.
- Use a CRM system and have a biz dev calendar. Oh, and make new business everyone’s business.
- Study your website and email stats and analytics. Do more of what works. That means, continuously optimize.
Oh, and have a true dedication at the CEO, CEO and ECD level to doing what’s right to drive growth. Does your agency management act as hungry as Jeff Bezos?
Your Website.
I am signaling out your website as a marketing tool because agencies spend an inordinate amount of time adjusting and rebuilding their website. Get it right the first (or probably fifth time).
Major point. Your website is about sales. Not beauty. Beauty is nice. But, add the goal of beauty after you nail your sales objectives.
Please demonstrate some humanity and charisma. Even chutzpah.
Content amplification. If you have a blog post — use Twitter and Facebook and Instagram and a zine and whatever to amplify the message and/ or insights. Once you have something tasty… share it broadly.
Another point. Your prospects will give you 6 to 9 seconds to determine if they should spend time on your website. Give them a reason to stick around.
OK, some good news. You probably can’t do any worse than these agencies.
RFI’s and RFP’s.
I owned my own agency. In the case of RFI’s and RFP’s, I made sure that we did not respond to the wrong ones: the ones that were not a good fit or didn’t have the right budget. Have a litmus test for deciding which RFI’s and RFP’s are worth the big effort. Do not say yes to every request for a date. Know what – read my book on pitching . It includes how to manage these, occasionally, time-suck client fishing expeditions.
If you respond to an RFI or RFP… read them hard and respond according to the request, which means, follow their format to a T . No client or agency consultant that has asked 10 agencies to respond (a nightmare in itself) wants to figure out your very own creative way of responding.
But (there is always a but), figure out within the client’s request… how to stand out based on your read of their needs and your agency’s brand proposition and, importantly, personality. This is a date. Act accordingly.
Follow this link for my blog posts on the art of pitching. Or buy my book on pitching.
Last Point.
The business of advertising and marketing communications services has gotten unbelievably difficult. The current playing field:
There are too many agencies. Your competitors often bend over deeper than you. Getting priced out is a daily issue.Lower gross margins. Client spending in decline. Clients, especially procurement departments, are better at negotiating than you. Clients are bringing work in-house. The dominace of Google, Facebook, Instagram and Amazon. To make matters worse: many agencies have not created strong hard to ignore value based on their competitive positioning. And, finally… most agencies do not have, even ones that have a sales plan, do not run it on a continuous and super smart basis. No plan + a start & stop program + no C-suite dedication + no hard to ignore messaging + looking me-too = no new business.
Let’s talk about growing your business. You are in a hurry, right?
Contact me now and take me up on my impossible to refuse 15-minute talk-to-me vito corleone offer. , subscribe to the advertising stories podcast.
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Starting an Advertising Agency?
How to write an advertising agency business plan (fast), step by step (actionable) case study.
If you’re looking for a sample of an Advertising Agency Business Plan, then look no further! We have produced this plan to give you ideas and inspiration.
To be successful in any business you need to consider a lot of factors, and marketing is definitely one of them. That’s why advertising can be seen as one of the most lucrative, recession-proof businesses you could wish to venture into.
So without further ado…
Let’s look at this example of an Advertising Agency Business Plan.
#1 Executive Summary for an Advertising Agency Business Plan
The Executive Summary section of your business plan outlines exactly what your business does.
It’s an overview of your business and summarizes all its key points, as well as being an introduction for the rest of your plan.
The main goal of this advertising agency business plan is to convince either the bank or an investor to invest in the business by providing start-up capital. It’s vital that you provide a solid case for your business idea, which is why your executive summary is so important.
In our Advertising Agency Business Plan sample, the executive summary is composed of:
- The Company
- The Investment Offer
- The Exit Strategy
Management Team
- Background of the Company
- Mission Statement
Check it out and feel free to lift any of it that you want.
The #Executive #Summary outlines what your business does, summarizes your key points, and prepares investors for the rest of your #businessplan. It’s vital you provide a solid case for your business idea, which is why your #executive #summary is so important! Tweet
Executive Summary
Established in March 2012, Advertising Agency is a specialist public consultation, PR, political liaison, and creative agency which operates across the USA. We currently work in the housing, property, regeneration, education and retail sectors. We are expanding into the energy, transport, and health sectors.
We are experts in creating and managing corporate communication campaigns, public affairs, media relations, copywriting, public consultation, and providing strategic counseling and social and digital communications.
Our objective has been to create a communications agency that is fit for the modern age.
Advertising Agency
We were named Best New Agency in 2013 and best Public Affairs Agency of the Year 2013. We are very ambitious and we have already promoted and defended the reputation of major national brands including AllMart and New York Bank. Based in Manhattan, we also work with a growing list of regional clients including ABC Homes and One Manhattan. We offer a fully integrated service for the likes of national architects XYZ, contractor United States and Manhattan law firm Manhattan LLP.
We’re looking to secure funding to enable Advertising Agency to open offices in California and New York – to take advantage of the many opportunities offered in the US and the growing market in the eastern region of the US. Our agency has three distinct offers: Agency Consult, providing intelligent, creative, award-winning public affairs; Agency PR, serving the property, construction and professional services sectors with media relations and social media management; and Agency Create, delivering all aspects of branding, digital design, print services, video production and animation. Each team stands up in its own right as a leader in its field – no other US agency delivers these disciplines like we do.
We’re really proud of our achievements to date and we’re very excited at what the future holds.
Welcome to Advertising Agency.
Investment Offer
2016 is a key year for Advertising Agency. Our aspiration is to grow into a >$1million turnover company by 2017 and hit $3million by 2021. To achieve this aim, we have identified the need to open an office in California in 2016 to help service the California region, open an office in New York to take advantage of the housing, renewables and infrastructure investment in the US, and also to invest in our creative and digital team which operates out of our Manhattan office. By opening up California and New York offices, we believe we will be able to secure some major contracts in a regional housing, regeneration, transport and renewable market that is continuing to grow at pace. Our California office in particular would allow us to expand into the infrastructure and transport sectors.
To help with our growth plans and to achieve our 2017 and 2021 aspirations, we are seeking $230,000 in return for 23% of our business.
The investment will help Advertising Agency to:
- Grow our California and New York presence
- Secure start-up office space in California and New York
- Expand into the transport and renewable sectors
- Be positioned and marketed specifically to a California market
- Be at the pitch table to support the consultation for major housing, regeneration, transport, and renewable projects
- Service the volume housebuilders and other developers in a growing regional southern market
- Work alongside some of the biggest California based planning agencies including EFG, NBO and Crimson Planning (all known to Advertising Agency) and their clients – airport, infrastructure, etc.
- Significantly grow our digital and creative marketing services
- Provide a comprehensive nationwide offer to support clients who work across the US.
Exit Strategy
Our Exit Strategy needs to be further confirmed at the next Board Meeting, but we would like the company sold within eight to 10 years.
#2 Advertising Agency Business Plan Company Profile Section
The Company Profile in your Advertising Agency Business Plan is also known as the Company Description.
If it’s well written, your potential investors will find easy to understand your business model, your mission and goals, and how it’s going to meet the needs of your target market.
For the purpose of this business plan, we’ve included the following:
- The Management Team
Jack is a versatile communicator and has had almost 25 years’ experience of working with some of the biggest names in the US.
Previous to setting up Advertising Agency, Jack was a non-shareholding director at a Manhattan based public affairs agency for five years. Jack helped to transform that agency into a $1.5 million t/o company and win and service major blue chip clients.
Jack has been instrumental in turning Advertising Agency, a $6,000 start-up company into a $500,000 t/o profitable business in less than four years.
He is excellent at motivating and inspiring his team to deliver. Nicknamed ‘The Rainmaker’, Jack has been responsible for bringing 90% of the new business into Advertising Agency.
Jack is both a visionary and able to see the potential for major growth as well as grounded and able to manage the business to successfully deliver. He is innovative and has been able to shape Advertising Agency into an agency that has brought in the right skills to meet the ever-changing communications and marketing demands which clients now expect.
He is particularly skilled at managing media issues and crises. Jack gets on with people and is an expert at capturing hearts and minds. His work in reinventing consultation to help developers achieve planning consents has won awards.
He is as comfortable presenting to a board of directors, briefing the national press, discussing policy or planning applications with politicians as he is working with local people at grass roots level.
Jack has worked on numerous contentious planning applications, including mobile phone masts and supermarkets and wind farms, and he has an excellent understanding of the planning process as well as how to identify and work with supporters.
As an ex-journalist, Jenny has honed her skills as a writer and has the ability to write about a range of subjects to fit perfectly with the audience.
PR and writing is in her blood. She cut her teeth in PR in Manhattan, where she has worked for the last 14 years. Jenny has a natural ability to ‘sell’ stories to the media and handle press enquiries, having helped run the press office for one of the largest councils in the US.
Feature writing, blogging, opinion pieces, website copy and the good old, solid press release are her specialties. Jenny is brilliant at creating and placing content where it is guaranteed to reach the right audiences. A creative thinker, she helped bring brands to life through clever use of storytelling and media relations.
David is a communications expert with 10 years’ experience of working in public affairs, community consultation and PR. He is adept at understanding audiences and engaging in effective and creative ways.
From Facebook campaigns to viral films, from media releases to community meetings, Pete has a track record of delivering results for clients across the country.
A veteran of over 50 housing, supermarket, infrastructure and energy planning applications, Pete has been entrusted to manage community and stakeholder engagement by some of the UK’s leading names in housing, retail, energy, and regeneration.
His work has been recognized with PR industry awards for his innovative and committed approach to community consultation on complex and controversial planning proposals. As well as his effective approach to building relationships with communities, David has the skills required to decipher complicated planning proposals into plain language, with the help of a creative approach to visual communication.
An attention to detail and commitment to shared goals means David continues to enjoy excellent relationships with the clients, colleagues, and communities he has worked with.
Patrick has over a decade’s experience writing, editing, and designing websites; and as a freelance pop culture and tech journalist has written for a wide range of digital and print outlets including Wired, BBC America, Den of Geek and When Saturday Comes. As web developer, Patrick is responsible for in-house site development on behalf of our clients, tailoring clean, accessible and responsive websites to their specific needs. As a writer, he specializes in informative feature and promotional content, making information accessible and engaging to a wide audience.
Patricia is a qualified chartered accountant with a wealth of experience working as both a business advisor in the accounting profession and as a Finance Director in industry.
Since moving from the accounting profession, Patricia’s experience has been at director level – in both finance and managing director roles. This has led to experience in a wide range of business roles including leadership, operations, human resources, information technology as well as the excellent core knowledge of accountancy. As a commercially aware accountant she has the ability to look at the company’s business as a whole, not just the financials.
Patricia also has a strong IT background and holds a postgraduate diploma in Business Information Technology. Her skills working with both established and start-up businesses will help Advertising Agency’s on-going growth.
In November 2014 we rebranded the agency as Advertising Agency – to reflect our offer of PR, Consultation and Design. The registered business name remains as Advertising Agency Relations Limited.
The company was set-up using $6,000 of director loans in February 2013. Since then we have grown into a profit-making $457,473 turnover company and we remain debt free. Our financial year is 1st November to 31st October.
The company currently employs 11 full-time members of staff including two strong and experienced account directors, account managers, a social media manager, an account executive, a marketing executive, and a creative designer. We already have a strong client list which includes AllMart, Places for People, Manhattan Living, National College for high Speed Rail, and New York Bank. We are currently based in Manhattan but we are a national agency servicing clients across the US.
In May 2016 we pitched and won the Olympic Park account. This is a joint venture between Balfour Beatty and Places for People. The account is our first California office client and will commence in September. We will be announcing our win to coincide with our California office announcement in September. We will be providing our full range of communications services on what has the potential to be a 15-year project.
We have also just won two new accounts.
The first is to support the for High Speed Rail launch. This will be announced in September. We will be supporting the college with PR and creative services to drive the recruitment of students in California to help produce the engineers of the future and attract people into rail industry. This was a major win for us, as we competed against four other agencies. It’s a very significant fee (c.$100,000 pa) and opens the door to High Speed Rail. Furthermore, this is a landmark infrastructure client and the win also establishes us firmly in the education sector.
The second is to support the launch of Heaven – a new retirement village company. We will be providing a full range of services from planning consultation through to PR and sales support. We are also currently in discussions with some very significant names, including two volume house builders.
We have a growing reputation as a successful and reliable agency and this is reflected in the number of awards that Advertising Agency has managed to win within just 3 years of entering the market:
- New Agency of the Year (2013) – winner
- Public Affairs Agency of the Year (2014) – runner up
- Public Affairs Agency of the Year (2015) – winner
- Small agency of the Year (2016) – runner up
A #mission #statement is a short statement of an organization's purpose and shows the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. Tweet
MISSION STATEMENT
At the heart of our business lies our commitment to use an integrated approach across all PR, Public Affairs, Creative and Marketing disciplines at our disposal to address our clients’ needs and problems and provide innovative and effective solutions. We help our clients utilize and take advantage of all the communications channels available to ensure their message is seen, heard, and read in all the right places.
Our core principle is to provide best value for money and generate a reasonable return on investment.
Agency responsibility is central to our company ethos. This is why we donate a percentage of our pre-tax profits to charity and give staff the opportunity to spend two days a year supporting a local charity of their choice.
OUR DIFFERENCE
Advertising Agency is already establishing itself as a creative, personable, intelligent public affairs agency that can engage stakeholders and communities, identify supporters, and mobilize them to help influence the planning decisions being made in their areas. We are setting a new standard in public affairs – one of which focuses more on the communities in which we work, not just on politicians (like so many of our competitors). We have already out-performed agencies in California in securing a number of national PR clients.
#3 Advertising Agency Business Plan Products & Services Section
The Products and Services section needs to be much more than simply a list of what your new business is going to provide. This is especially important if you’re looking to get funding.
Make sure that you showcase the value, the quality, and the benefits of your business.
Ask yoursel f:
- What sets you apart from your competitors?
- How does your pricing compare?
- Why would people buy from you as opposed to your competitors?
Here’s the example.
Products And Services
What we sell.
- Advertising Agency provides a wide array of services. We have three teams of experienced specialists:
Agency Consult
Agency create.
They offer their expertise in the following areas:
Agency Consult – Our team of highly experienced consultants offer their expertise in the following areas:
- Political/stakeholder mapping and engagement;
- Political analysis and briefing;
- Public consultation events;
- Project websites;
- Social media campaigns;
- Supporter activity;
and much more.
Agency PR – Our specialist PR team work for national and regional clients in the housing, construction and professional services:
- Press release writing;
- Crisis and issue management and support;
- Copy writing;
- Social media support;
- Website and blogs management;
- Effective PR support.
Agency Create – Our in-house design studio provides all aspects of graphic design, film production, and animation, including:
- All aspects of graphic design from websites to brochures;
- Film production and animation;
- Social media content writing.
From stakeholder mapping and political briefings to social media campaigns and community events, our expert public affairs team can help deliver the public and local authority support your planning application needs to be successful.
Effective public relations is central to every successful organization. Our experienced team of PR professionals and ex-journalists can raise your profile, shape your reputation and reach and engage new audiences for your business.
Exceptional design is key to getting your message across in the right way – and our in-house creative team can work with you to create the look and style you need for your social media, website, film, brochure, and much more.
Competitors
Advertising Agency has two significant competitors based, among others, in California and Manhattan: Remarkable PR and ABC Communications. These are also public affairs and PR agencies providing similar services from government relations, through to stakeholder engagement, to issues and crisis management.
What makes Advertising Agency stand out is our new approach to public affairs. Instead of focusing primarily on the influencers and politicians – which is what most of our competitors do – we concentrate more on the communities we work for by trying to provide people with factual information and gaining support. The support is then harnessed to influence political decision making.
With a team of experienced professionals onboard and with excellent people skills, we are able to talk to chief executives and members of the community alike. Since the industry as a whole has a reputation of over-promising and under-delivering, we do our upmost to provide best value for money and establish a good name.
Finally, the potential of Advertising Agency graphics production, social media and internal communications function offers further opportunity.
Product And Service Development
Advertising Agency currently services clients in the housing, contractor, retail, education, property, and regeneration sectors. We are constantly monitoring market needs and developing our services. In future, with the right resource and experience, we will be targeting the following sectors:
- Transport and infrastructure
- Renewable and non-renewable Energy (specifically anaerobic digestion, shale gas)
- Retirement Villages
- Health Sectors
- Rural and farming sectors
Intellectual Property
Steps have been taken to protect the property of Advertising Agency, Agency Consult, Agency PR, and Agency Create in a trademark and copyright.
#4 Advertising Agency Business Plan Target Market Section
While conducting research for your business plan, it’s important to identify your potential audience – that is, the people who are going to buy your products.
Basically, you need to define your target market.
This section can include:
- Market Overview
- Market Needs
- Market Trends
- Market Growth
- Industry Analysis
Here’s our example.
Target Market
Market overview.
The Public Affairs and Public Relations markets, both in Manhattan and other parts of the US, are very competitive. We are a dynamic agency delivering campaigns for clients in the property, construction, housing, retail, education, and energy sections, with aspirations to expand into other markets. We combine online expertise, media intelligence, political insight and engaging personalities to get results. We reach new audiences, achieve great media coverage, give communities a voice and help clients successfully deliver their projects.
MARKET NEEDS
We understand the planning process and we work on a range of planning applications from small housing developments, major housing-led regeneration projects, sports stadia, and new supermarkets to renewable energy schemes, as well as major infrastructure projects.
Unlike our competitors, we do not focus mainly on reaching to the most influential person as or politicians. We take a new approach and work on stablishing good relations within the community we are operating in, gain support for projects and make sure the people involved are presented with factual information.
To achieve this, we concentrate on the online activity, like the social media channels, starting a dedicated Facebook page, setting up a website, etc. We confront the opponents and clear out the misinformation. It is our job to give the community access to facts to get people drawn to the idea. We also organize consultations, where people can voice their opinions.
We all keep abreast with all the changes in the market by regularly reading and engaging with the relevant trade publications, e.g. Planning and Place making; Inside Housing; Estates Gazette and Property Week. Furthermore, we hold team meetings every morning to read the national papers and then share and brainstorm relevant insights and stories.
In addition to all that, we regularly attend relevant trade conferences, and we regularly meet with journalists and have very good relationships with our key media contacts who are often a good source of information. We are good networkers and often attend regular breakfast seminars and briefings.
MARKET TRENDS
California’s recovery from the 2008 recession continues. The property, regeneration and development sectors have strengthened over the past two years. Several major developments are continuing with a healthy pipeline of projects large and small are at various stages of planning.
The house-building program continues across California with varying levels of urgency.
MARKET GROWTH
When it comes to the housing industry, we are experiencing a significant growth where there is a huge concentration of large infrastructure projects. By opening a new office in California, we are planning to maximize on that.
Since we have significant experience working with businesses and individuals across the US, and the word of mouth is our most powerful tool, we are hoping that developers will be turning to our organization to help them with the planning process, consultation and PR.
INDUSTRY ANALYSIS
The California PR and communications sector is very competitive. The larger, established PR companies had made a significant number of staff redundant as client budgets tightened since 2008. This has resulted in an increase in the number of smaller niche PR businesses starting up.
Since 2011 a lot of these smaller companies have been acquired by more established industry stalwarts as they seek to expand client lists and recoup talent. While this has resulted in a lot of consolidation it has also meant there is a lot of opportunity as potential clients review their PR and communications servicing. It is a highly competitive but very active market.
The market is also very diverse. As developers, construction companies, public sector regeneration bodies, property companies, architects, retail companies and housing associations seek to take advantage of the increasingly positive policy statements by both central and local government – as well as an increasingly attractive economic environment – there are opportunities for those service companies that can prove themselves to be valuable in terms of short term commercial growth and sound additional benefit to attract buyers and investors. In the housing sector, for example, the reduction in grants from central government means they have a requirement to distinguish themselves, work more closely with developers and attract private sector investment as well as establishing a demonstrable record of commercial self-sufficiency.
We believe that what is needed to operate successfully in the industry, is the right approach to the business. At Advertising Agency, we add a different dimension to the industry by offering a truly extensive range of services and focusing more on the community, and various ways to win over the potential opponents, rather than just directly engaging the politicians.
Key Customers
Our current sectors.
Advertising Agency currently services clients within the housing, contractor, retail, property, education and regeneration.
TARGETED SECTORS
With the right resource and experience, we will be targeting the following sectors:
- Transport and Infrastructure
- Energy (specifically anaerobic digestion and shale gas)
- Retirement villages
OUR CLIENTS
We work with a growing number of clients across property, retail, energy and construction – proudly promoting, defending and developing brands across the country.
In future, we are planning to target the following sectors: transport and infrastructure, energy, retirement villages, leisure, health, education and rural and farming sectors.
The vast majority of our customer base are retainers. We believe that clients keep coming back to us, as they value our first class service. We have full communications skills in-house from design, social media and film production to traditional PR, marketing and copywriting. We are highly dependable when it comes to meeting deadlines: we deliver when we say we are going to and we get results. We make sure to cater to our clients’ needs and suggestions and not only that – we often go beyond what is required and come up with extra ideas and solutions. And last, but not least, we keep abreast with all the the regulations and policies. We know the sectors our clients operate it, and are always able to offer sound advice.
#5 Advertising Agency Business Plan Marketing Strategy Section
The marketing strategy section of your business plan describes who your customers are going to be and how you plan to communicate to them the services or goods you are offering.
If your potential customers are not made aware of your business, you are not going to stay in business for very long!
Defining a marketing strategy in your business plan highlights your understanding and knowledge and emphasizes what makes your business concept compelling. It also outlines how you plan to attract and maintain a customer/client base.
Ask yourself:
- How are you planning to advertise to your market?
- What is your competitive edge?
- What is your sales strategy?
Let’s look at the following example.
Strategy And Implementation
As far as marketing is concerned, Advertising Agency has not done any advertising or marketing, other than some low level engagement on social media (Facebook, Twitter, Pinterest, Tumblrt, LinkedIn and Instagram). Our success to date has largely been down to our team’s contacts books and especially word of mouth. This has been our most powerful and important tool from both our and the clients’ point of view.
To launch California, New York and to celebrate the announcement of the new Group structure we will be a having a drinks evening in both locations. Existing clients, prospective clients and our network of contacts will be invited. Apart from that, we will also have a launch communications plan to include press releases to the relevant media, and website banner ads taken out on targeted websites.
Our California MD will be joining a number of California property clubs and will be creating a separate communications strategy aimed specifically at the rail industry.
We will be introducing the Advertising Agency marketing plan which will include a regular HTML newsletter update to our database, a more considered and high profile push across all social media, and creating speaking opportunities at conferences.
Our Manhattan office will be moving from south Manhattan to the Manhattan City Centre in February – that will make a statement and will provide easier access to business, clients and potential clients.
Our services are provided on a monthly retainer basis (all PR, some public affairs clients) or for an agreed one-off fee (design work, most public affairs projects). Our strategy has been to build the business around clients paying a monthly retainer, with the more lucrative – but shorter term – project work adding to this. We continue to add services to our agency to create new revenue streams, the most recent example being to invest in an in-house video production offer which we promote to both existing and potentially new clients.
We have identified a California office because we are already servicing clients in California and the SE. What is more, we believe that the opportunities to grow are significant. The California office has the potential to see our turnover significantly increase over two years. The California office is opening on 5th September. We are planning to coincide the office announcement with the announcement of our Balfour Beatty JV win – our first California office client.
We are confident of securing some early business for the New York office via our planning consultant contacts. These consultants are working with a number of developers who all often require consultation and public affairs support.
With our connection to High Speed Rail and the rail industry via Jim Mann our California lead, we are confident of securing work in this sector. We anticipate there will be a permanent team of at least three based in New York by the end of 2017.
The opening of the New York office will also be followed by promotional activity: we are going to promote the team, including our associate director.
Your #Market #Analysis section of a business plan is one of the most important aspects of your marketing plan. It defines where you are currently in terms of your market, product, customer and competition. Check out this example in our #Advertising Agency #BusinessPlan! Tweet
Swot Analysis
We are a niche agency which is now established and recognized in its peer group. The company directors have had offers of buy-outs from other, larger agencies lacking in public consultation experience. Just 9 months after starting, the agency was awarded Best New Agency at the PRCA industry awards.
What is more, the company has a good team (consultation, former youth worker, journalists, PR and design) with the right blend of experience to service current clients and bring in new business. MD Jack Black has a wealth of contacts and is well known and well respected across the industry and in sectors in which Social operates. Director Jenny Lowe is a former journalist with 15 years PR experience, and is able to manage the day-to-day running of the business with skills to manage the staff. Furthermore, although we are currently Manhattan-based, our staff are already working across schemes in California and know the California market well. The company is not tied to one region and has ambitions to branch out to other key areas.
On top of all that, our accounts are solid and turnover and gross profit is as we predicted for year 3 in our original business plan. We have secured the services of a freelance finance director.
Although we are a $500,000 t/o company, our current weakness is that we do not have the cashflow to enable us to grow.
OPPORTUNITIES
We are starting to see significant opportunities with housebuilders and retailers bringing sites forward for consultation.
What is more, opening a California office is another major opportunity for us. We are already working on projects in the South. Our niche offer and the way we deliver planning application consultation will secure some major new contracts.
Thanks to a number of successful campaigns and our good reputation, people are keen to work for Agency – and there are a number of high quality, high earning staff speculatively sending their CVs. This gives us an opportunity to create a network of regional offices, starting in California. Building a stronger team to take the business forward.
Moreover, Jim Mann, our California office managing director is well connected in our markets and will bring an additional market – transport – into the agency. The company has the skills and ability to grow into new sectors such as retirement villages.
One of our biggest threats is the fact that there are clients who do not renew their contracts and the work dries up. In future, we are planning to implement a reliable CRM system to prevent that.
Another possible threat is that we might have trouble finding the right people to staff our California office, or that we win new business but cannot service it due to cashflow and not being able to grow our core team. California office could also not perform as well as we have planned.
We may also experience cashflow problems and lack of funding to further grow the business.
It may also happen, that our competitor will copy our business model and start delivering their services our way.
COMPETITIVE EDGE
Advertising Agency is already establishing itself as a creative, personable, intelligent public affairs agency that can engage stakeholders and communities, identify supporters and mobilise them to help influence the planning decisions being made in their areas. We are setting a new standard in public affairs, one which focuses more on the communities in which we work, not just at politicians (like so many of our competitors). Although based in the north, we have already out- performed agencies in California in securing a number of national PR clients.
By building relationships with national brands such as WallMart and Places for People, we have the opportunity to gain an insight into what they require from an agency – and therefore how we can stay ahead of the competition.
PROMOTIONAL ACTIVITY
Our main source of advertising our services is through our website: www.advertising agency.com. We also promote our business across social media channels: Facebook, Twitter, Tumblr, Instagram, Linkedin, etc.,
Our reputation is everything and we also rely heavily on the word of mouth.
We are planning to implement a reliable CRM system to have contact with our clients and manage our extensive database of business contacts. We are also working towards a regular newsletter. For the time being, we do a lot of engagement through the LinkedIn page as well.
STRATEGIC ALIANCES
We might establish strategic alliances and partnerships in the future.
INVESTMENT INFORMATION
2016 is a key year in for Advertising Agency. Our aspiration is to grow into a >$1million turnover company by 2017 and hit $3million by 2021. To achieve this aim, we have identified the need to open an office in California in 2016 to help service the Greater California and open an office in New York to take advantage of the housing, renewables and infrastructure investment and also to invest in our creative and digital team which operates out of our Manhattan office.
Advertising Agency is currently valued at $1million
USE OF FUNDS
The funds would be used to open a California and New York office as well as grow our digital offer. We would hire the right team to secure and deliver new business in these areas. Including:
Expanding into the transport and renewable sectors
Be at the pitch table to support the consultation for major housing and regeneration projects
Service the volume housebuilders and other developers in growing regional southern and eastern markets.
Work alongside some of the biggest California based planning agencies.
We have identified office space in California which is at one of our clients, Places for People’s offices. We are planning to start with two desks. There would be a one year license agreement for the office space. The office will be located at: West Street California .
The California office will require a small team with senior leadership in order to successfully service existing clients and to exploit new business opportunities.
We have identified Jim Mann to lead the California office. Jim has just left the media team for USA Media and has been known to Jack Black since 1997.
In the first 12 months it is likely that Jim will require the support of at least two other permanent members of staff that would include a deputy (account director) and an account manager / senior account executive. Other resource would be pulled in from a bank of freelance contacts, as and when required.
Jim has worked in the PR industry for 20 years. He has worked in the public sector and for some of the best known major PR agencies. He has experience of leading PR campaigns for some of the largest FMCG clients (including Nike), he has held Board level positions and has set up and sold two agencies of his own.
He has worked with several developers, housing agencies, planners and architects.
In 2011 Jim set up Mann PR, a specialist PR company focused on the property, regeneration and development sectors in California. In 2013, this was sold.
PROJECTED INCOME
In its first year of trading, we forecast that we could earn in the region of $75,000 per annum from one volume housebuilder alone –providing consultation and public affairs support.
Additional revenue would be generated via project work coming from the retail and transport sectors. We forecast that individual project work would generate $100,0000
We would seek to secure at least two retained clients, generating c.$75,000
The office costs will be $7,200 for a desk in a serviced office.
NEW YORK OPERATING ENVIRONMENT
- Agency is already working with a number of clients in New York
- Wide range of contacts already established
- Existing key clients have offices/projects based here
- New York office – Senior Consultant identified to run and help drive new business
- Huge potential growth in this city
- Identified a strong candidate to run the New York operation
The New York office will be headed up by group director Gary Johns. Gary is already leading on projects in New York for WallMart. Gary will be supported by agency MD Jack Black. Jack is very well connected with the New York leadership and this year attended MIM with the New York Local Enterprise Partnership.
#6 Advertising Agency Business Plan Financial Section
Ensuring that you have a COMPLETE financial plan within your business plan will DOUBLE your chances of investment as well as the future growth of your business.
A lot of small businesses don’t have a financial plan and it’s essential to your long-term success and business growth.
We’ve listed here the key elements you need to have in a successful financial section:
- Initial Start Up Expenses – Especially if this is a start-up idea, it’s essential that you have a description of what you need for investment purposes.
- Sales Forecast – It’s essential to have an estimate of your monthly sales revenue as well as annual. This helps you understand your business and plan out any marketing and growth strategies.
- Direct cost of sales – Measures the amount of cash the company will have to spend to produce the goods or services sold by the company. The direct cost of sales only includes the expenses directly associated to production.
- Profit and Loss Forecast – This is a statement summarizing the revenues, costs and expenses incurred during a specific period.
- Balance Sheet – This is the financial position of the company and states its assets, liabilities and owners’ equity at a particular point in time. It illustrates the business’s net worth.
- Loan Repayment – This shows the lender or potential investor the act of paying back any monies.
So… Are you ready to look at some figures?
Projected Income
Our predicted fee income from the New York office in year one is $100k, rising to $450k in year two and $650k in year three.
Gross Profit
Budget (with Monthly Detail)
Balance Sheet
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Additional Resources:
- 40 Common Business Plan Mistakes to Avoid when Writing your Plan
- What is a Business plan and why do you need one?
- How to Write a Business Proposal in 5 Easy Steps
- 10 FREE Business Name Generator Tools to find your perfect business name
Now, over to you...
Now I’d love to hear from you:
Are you going to start up your own advertising agency, or have you recently written a business plan?
We’d love to know what you thought about our advertising agency business plan sample.
Feel free to leave any comments below and I will be sure to answer them as soon as they come in.
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