Industry
Analysis and Trends – Currently in the marketing and
design business more and more companies are becoming familiar with the idea
that great marketing will lead to a greater success with their target
audiences. In the last five years that I
have been working in the design & graphics business I personally have seen
the change from hearing clients say I want the best I can get for the least
amount of money to I want the best designs and marketing items possible. Business owners have become very aware that
competition that have better graphics and promotional items that their target
audiences actually relate with are more successful than those who have just
basic items for marketing.
- Industry Overview – Currently in the marketing and design business we are seeing a huge growth in transmedia marketing. Customer bases want to buy from businesses that are interested and current in the things that they are interested and participating in. Social media marketing has enabled customers to be more connected to the world as a whole and to view real world views on all kinds of topics and businesses are taking advantage of this unique type of marketing. Another great tool is having your audience be familiar with your brand and logos. For example the NIKE swoosh has been around for years and wherever a customer sees that symbol they immediately know that whatever they are looking at is a NIKE item.
- Market Opportunity – My business has great potential. After some research I found that most media strategist are working for a particular corporation or business. There were none that I could find that were independent strategist. Another opportunity that arose for FH D&S is that most graphic designers are only graphic designers and do not offer a full media marketing strategy along with brand and logo development.
- Barriers to Entry – Getting clients to fully understand what exactly they are getting from having a media strategist and graphic design company. Even though a business knows they need to market to their clients they may not truly understand how to be successful at marketing and how having someone give them a plan of action will benefit them. Another challenge that has recently been faced by our company is the type of clients that are the ones who want results before they agree that they need that type of service. You cannot guarantee a specific number before the plan is executed.
- Long-Term Opportunities The long-term opportunities that are currently projected are that it is clear consumers want to feel connected to whatever company they choose to buy from and we have not seen a change in that trend at all. Another change that has become a reality is just how evolved consumers are in social media. Knowing these two items it is clear a company or business that does not know or have a true course of action to market in these areas with a truly recognizable brand will not get the results or business that they are seeking.
Target
Market – Our target market are business that range from small
scale to large international conglomerates.
Any business or firm that utilizes marketing and branding is a potential
client. Even business that already have
a logo but does not have an effective marketing plan are in need of a true
strategy to reach their customer base.
- Market Description –Marketing, and design is the field we are targeting. Clients that we are seeking are the ones who have grown tired of just a cheap logo or flier design. We want clients that have a clear idea of where they want they business to be but are unsure of how to truly reach their goals.
- Market Size and Trends – According to IBIS World, there are 108,577 graphic design businesses. Also IBIS World states on their report that there are so many graphic design businesses that no particular firm accounts for more than 5% of the business. They also state in their report that 92% of the graphic design businesses only employ one employee. The positives that they report are that the business demand are growing in the graphics design business. A trend that was noted on howdesign.com was that more and more design firms are investing in their clients small businesses to earn revenue in addition to selling their designs and design time.
- Target Customers – FH Design & Strategy’s ideal client is a business or corporation that is ready to execute and effective marketing strategy and campaign with a brand identity that sets them completely apart from their completion. An excellent candidate would be a business or corporation that has had misguided marketing or a very weak brand identity and are struggling to reach their target audiences.
- Market Readiness – The industry of marketing and design is growing rapidly because businesses and corporations have become very aware of the importance to not only reach the customer bases but to continue to have a strong presence with those audiences.
- Strategic Opportunities – Our biggest advantage is that we offer both design and marketing strategy. Our clients will not be left with just a design and no way of how to market their companies. Most design firms only design, but our company offers a plan of action and tools to market successfully to each client’s specific audiences. We research their target audiences and the best ways to reach them. When our clients plan and design development have completed they will be able to successfully market themselves with much greater success than just having a logo and design elements.
The
Competition – Based on research that has been done
there are many design firms in our local area but media strategist are mostly
employed by larger companies and do not offer services to any other
businesses. Even though there is
completion in the design field their clients still need guidance on how to
market and what items will be the most effective for their business.
- Competitors – Since there is not another business that offers the type of service we do I can only list three design and print shops in our area they are, Fastsigns, Quicksigns, and Signarama.
- Advantages – Each one of the competitors listed offer the same service, they each offer design, printed products such as fliers, banners, and vehicle graphics. Our advantage over these shops is that again they only offer the design and products but not a way for their clients to truly be effective in marketing.
- Barriers to Entry – At this time other than our company being very unknown in the business we do not have very many disadvantages in our current market since we are the only company that offers the exact service that we offer which is design and marketing strategy.
- Strategic Opportunities – Our company offers a way for our clients to market to their target audiences. We give our clients the tools and plan to execute a successful marketing strategy. None of the completion offers anything similar to this for our clients. Currently we can collaborate with print firms to offer printed-paper marketing items that will work hand in hand with the strategies we offer our clients.
Resources:
Ibis World (August, 2015). Graphic designers in the U.S.:
market research report. NAICS 54143. Retrieved from
Sherwin, David (July 13, 2015). 9 ways to increase profits for your creative
business. Howdesign.com. Retrieved
from
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