This week, I’m having a little trouble coming up with a topic I think is really quality when thinking about the best way to run a successful marketing/advertising/public relations firm. So I want to cover a few small topics quickly; sort of like a review.
1. Be Premium
A lot of people, when starting their own business, try to sell as much of their service or product as quickly as possible, meaning that their main concern is revenue. This is not, I repeat, not the right idea. As a start up agency, you shouldn’t try to compete with other well established firms by lowering your price for your service. You need to establish your product as the PREMIUM product. Don’t go to customers and say, “we can offer you what (insert competitors name here) can offer you for less.” I promise, no one wants to hear that. Instead, walk into that client meeting and say, “Listen, we will offer you the best service, results, and anything you else you can think of, we’ll give you the best of it.” Remember, you are a start up, probably with a small team of creatives, technologists, and developers, so you can’t handle as many clients as your competitors, but, you can guarantee them a much more driven and personal service. Further, you shouldn’t be afraid to charge a premium price for this premium service, just deliver the results you promised. Trust me on this one.
2. Be First
This is a key factor, especially for firms that are on the start up. the CMO’s and CEO and Chief Creative Officers need to up to date on the most popular and successful trends in the marketing field. Yes, right now, social media websites are driving sales and customer participation for marketing firms around the world. However, a truly driven CMO and Chief Marketing Strategist will already be looking ahead, you need to be thinking about what the next hit in the marketing industry will be. They need to be thinking about what the most effective content is, how to portray their clients in the right light, to the right people, through the right mediums, at the right time. Further, as a small firm, the most important thing, is that you know how to do that first.
3. Don’t Let Anyone Else’s Kid Bully Yours on the Playground
This tip might seem like it’s coming out of nowhere, to be honest, I didn’t really realize I was thinking it until it appeared on my screen. However, this might be one of the most important messages I ever deliver to young firms and young entrepreneurs. Heres why: the business world is not a nice place. You should not play nice. Everyday another firm is trying to take whatever clients you have as their own, everyday a competitor is thinking of ways to be better than your firm, everyday new competitors are emerging, and trust me, not one of them are thinking about your feelings. I like to think of the business world as a battlefield, everyday you meet with your team, and come up with the strategy to outsmart your enemies. In war, strategies mean coming up with where to put your tanks, where to send the calvary, when to use special ops, and when to bring the full army. In the meeting room, strategizing means coming up with the best ideas and pitches to deliver to clients, who you need to be meeting with, when you need to be meeting them, deciding what conferences to attend, deciding how to tell your client you have the best ideas for them, and figuring out how to convince them why they need to be working with you instead of them. You should be approaching these tasks with a warriors mentality, this firm is your livelihood, your dream, your baby. Protect it, feed it, let it grow, and don’t let anyone else’s kid bully yours on the play ground.