Linda asks…
Advertising Agency?
Which advertising agency listed its shares in the year it was celebrating its 100th anniversary? It is considered to be the largest advertising agency brand in the world.
Jon answers:
Omni corp
Lizzie asks…
How does an advertising agency get paid?
I worked at a radio station selling advertising. When I would ask my supervisor and boss how a marketing / advertising agency works, the answer I would get is…it’s not worth your time or hard work. I have since quit my job due to, well, my boss was a tyrant, but that’s irrelevant. I have run into a couple of my old clients that have asked me to handle their advertising, but I have no idea how to charge them or how I get paid by the advertising avenues. Can someone please tell me, how does an advertising agency get paid? Please be specific…thank you!
Jon answers:
They charge a fee for creative work, and make a 15% commission on media. This means if they place media buys, such as television or radio air time, or print media space, such as newspapers, magazines, or billboards, they add the standard 15% commission on the costs of the media.
If they produce print work, they add a commission on to that as well.
Or they may charge a flat monthly rate for creative work and sign a long term contract with a client guaranteeing X amount of work for X amount of money. (A one to three year contract is normal.)
There may be fees for additional work requested by the client such as producing original market research–polling potential clients with taste tests of a product for instance.
(And you may be able to tie in bonuses for proof of pre-determined levels of effectiveness. Say the client is opening a new store location, and you get 500 people to show up and get a spot on the local evening news.)
Go to the business section of your local library. The librarian will be able to help you find shelves of books that explain this all in detail.
Richard asks…
How can I start an advertising agency?
I’m wondering if I can start an advertising and/or marketing agency. For the last couple of years I’ve developed good relations with several people in radio/newspapers/online/TV, etc. So I’m at this stage in which I would like to get something started along the lines of advertising and marketing. I am more into P.R. work than advertising, but I’m being very broad and general with the question, so advertising pretty much covers the entire scope of what I would like to do.
I’m pretty creative, net-savvy, and the only thing I’m not aware of is how to get started. Or if there is any specific set of “expectations” from an agency.
I’ve been thinking about getting some referrals by helping some of the lonely booth people in the middle of malls and the like. And a few unsuccessful-yet-potential-cash-cow restaurants.
Where do I go from here?
Jon answers:
The first thing — for marketing — you’ll need is a successful campaign. Do you have a local non-profit that you could volunteer to help? Maybe you could offer to write promotional material if they’ll provide the materials — printing, ad costs — you’ll provide the labor. If you do something that looks nice and works well, use it as a sample and go around to businesses. If what you did for the np doesn’t include advertising, mention your knowledge and contacts. Many businesses (sad to say as I’m in this field) are looking for contract work in marketing so are willing to consider freelance when their current contracts are up. Good luck.
Joseph asks…
My advertising agency started using banner ads on mobile phones. How can I connect that to mobile alerts?
My advertising agency started using banner ads on mobile phones is it possible for me to set it up so after someone clicks on the banner ad they can sign up for mobile messaging alerts. Is it possible to broadcast picture messaging?
Jon answers:
I use a site called Cellyspace for my business (real estate). Cellyspace has a broadcast feature that lets me create broadcast alerts with pictures and text of new listings. It’s really amazing once you get the hang of it. I’d say try it out.
Lisa asks…
An advertising agency is hired to introduce a new product. The agency claims that after its campaign 54% of al?
An advertising agency is hired to introduce a new product. The agency claims that after its campaign 54% of all consumers are familiar with the product. We ask 7 randomly selected customers whether or not they are familiar with the product.
(a) Is this a binomial experiment? Explain how you know.
(b) Use the correct formula to find the probability that, out of 7 customers, exactly 5 are familiar with the product. Show your calculations or explain how you found the probability.
Jon answers:
qa
yes.
see the 4 conditions given in
http://www.stat.yale.edu/Courses/1997–98/101/binom.htm
qb
P[5] = 7c5 *.54^5 *.46^2 = (7*6/2) *.54^5 *.46^2
= .2040
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