How to Manage an Advertising Agency
Managing an advertising agency can be extremely challenging as it requires knowledge of the industry, creativity, the ability to hire and train the right people, and interaction with client companies. Most people who manage advertising agencies are executives or partners in the business. They often have advanced degrees in marketing or advertising and possess the conceptual skills necessary to oversee all aspects of the business.
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Things You'll Need
- Effective hiring and training system
- Mission Statement
- Procedures for all activities
- Lead system
- Professional organization membership
- Industry publications
- Action plan
Instructions
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Managing Your Advertising Agency
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Hire and train educated and experienced personnel. Keep an active recruiting system running to attract new, creative people. Write a mission statement and key objectives for all personnel. Develop a protocol for handling client billing, developing advertising materials and completing projects. Set high standards for the advertising agency and ensure that all employees meet those standards.
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Develop an effective system for account executives to find and develop leads. Keep business names and addresses updated. Make sure the account executives work all leads. Build the agency by consistently landing new accounts, according to expert advertising professional, David Ogilvy, in the booklet "Confessions of an Advertising Man" at Scribd.com. Make sales calls to potential new clients. Take key creative people along and follow up with all pending accounts.
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Contact existing customers several times per year. Visit them as often as possible and apprise them of any new services, capabilities or information, including adjunct marketing research data or statistics on the optimal advertising mix for their particular business or industry. Invite clients to special events on occasion or develop an incentive plan such as free sports tickets. Strive to maintain and build the patronage of your best clients.
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Stay on top of all new active projects. Run weekly meetings so account executives and production people can keep you updated on the progress of all projects. Offer your help on projects that are falling behind. Communicate any delays that involve TV advertising, print ads or ancillary reports to the clients, especially those that pertain to advertising results and media tracking.
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Motivate employees and offer incentives to bring in more business. Join a professional advertising organization to keep abreast of any new trends or advertising media in the advertising or client's industry. Read advertising publications. Develop strategies for building sales and maximizing profits. Maintain a pool of talented freelancers who can assist the advertising agency during peak periods.
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Tips & Warnings
Do not be afraid to fire employees who do not meet the expectations of the agency. Start out by conducting a review and communicating their shortcomings. Get everything in writing. Put under-performing employees on an action plan and provide them with a time frame for completing it.
Never shortchange or overcharge a client on any service or advertising campaign. It is best to be completely honest and meet all of your contractual agreements.
