“Nothing is more efficient than creative advertising. Creative advertising is more memorable, longer lasting, works with less media spending, and building fan community… faster.” Stephan Vogel, Chief Creative Officer of Ogilvy & Mather Germany.
If you give a question to the professional in the business, about what is the key to success in advertising, maybe you will hear most of them replied with an answer that similar to the above expression.
Obviously, creativity is one of the initial and the primary capital in a creative industry, as well as the digital advertising industry. However, in addition to creativity, to start an online digital advertising must also consider the other factors. For instance, type of advertising agency that you wish to run, and services that you will offer. Larger advertising agency may offer a number of services, while smaller agency may specialize in particular service.
Research on market share and competitors also need to be done, so you do not need to be awkward. By knowing the market and competitors, you will be able to determine the next strategy and find the gaps that may be entered for developing your digital advertising business.
Besides the aspects mentioned above, when starting digital advertising business, you also need to pick up to what is known as principles of digital advertising. Charles R. Taylor, in his 2009 editorial for International Journal of Advertising, The Six Principles of Digital Advertising, stated that the principles are:
- marketers must be sensitive to consumer concerns about privacy and spam,
- consumer are more likely to be receptive to digital ads from marketers they trust,
- consumers are more likely to be receptive to digital ads for products that are relevant to them,
- digital approaches that incorporate interactivity are more likely to be effective,
- advertising messages that are entertaining have a higher chance of success in digital context, and
- in the long run, new media messages need to build the brand to be effective.
As might be expected, there are many more indicators that you have to consider when starting a digital advertising business. For instance, start up costs, promotion, business permit, etc., just like when you build a business in general. Some of the things above are just the most basic and primary capital to explore the digital advertising industry.
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