Advertising Strategy A1 1500 words proof reading(Cloud: 22/08/2021) - Business & Finance
The a-s-s-e-s-s-m-e-n-t will be 1500 words long. Please see the questions shown in the screenshot. I will send you all info after being hired, eg PPTs, student access etc. Please send a draft in 12hrs-1 day time, day 2, and day 3 as well. + Will need to to draft some questions to ask the teacher and revise base on feedback (Send bk ard in 1 day max) 1 Career strategy AMB339 ASSESSMENT 1: Prepared by: Table of Contents 1.0 Research into the discipline and employment opportunities 3 1.1 Current State of the Advertising Industry 3 1.2 The Future of my Discipline 4 1.3 Industry Trends 5 2.0 Audit of Career Competencies 5 2.1 Graduate Capabilities 6 2.2 Personal values and employment preferences 7 2.3 Individual employment preferences 7 2.4 SWOT analysis of career competencies 8 3.0 Employment strategy 8 4.0 Recommendations 9 5.0 References 10 Appendix 1 11 1.0 Research into the discipline and employment opportunities 1.1 Current State of the Advertising Industry My dream of becoming a junior creative specialist started to shape when I enrolled for business advertising majors at QUT. Ever since I have had the opportunity to learn several forms of media in the advertising industry, I have never been so optimistic about my expectations in the industry. Besides, I have been assigned several roles in my coursework, including being a planner, exposing me to wide advertising knowledge. Moreover, with a bigger focus on digital advertising, new technology opens new opportunities to satisfy clients. Notably, the industry has evolved from the quintessentially conventional print ads to novel advertising strategies, including co-branding, content marketing and online advertising. The Australian advertising industry is worth $3billion, employing over 17,770 people. Online and mobile advertising takes a huge junk of the advertising services, which stands at 49% of the total segments (Allday, 2020). Additionally, the shift towards online media has led to increased integrated marketing, which has led to Through-the-Line advertising, a combination of both Above-the-Line (ATL) and Below-the-Line (BTL) advertising approaches (Furman, 2017). As a result, the industry has shown steady growth in profits, with an annual growth of 3% (Allday, 2020).) in a period of 5 years (2016-2021). Based on employment prospects, the industry has shown annual average growth of 1% (2016-2021). In addition, the industry has shown a positive change in terms of wages, with a yearly growth of 2.3% (2016-2022). The industry has high barriers to entry which means that it is comprised of well-established and mid-sized agencies. These players have acquired other complementary businesses such as market research, web development and public relations. This diversification increases job and career development opportunities in the industry (Allday, 2020). 1.2 The Future of my Discipline Demand for online advertising is expected to proliferate over the next five years as more and businesses develop online platforms and channels to reach out to consumers. In this regard, the advertising entities are expected to re-invent their advertising strategies because of the shift towards media segmentation and reliance on digital and content advertising (McGruer, 2020). Allday (2020) projects the industry's value-added (a metric that measures the industry's contribution to the country's economy) to increase at an annual percentage of 5% in the next ten years (2021-2031) which outperforms the country's projected GDP growth of 1.9% over the same period. Additionally, the projected annual and average growth in the industry's wages stand at 1.9% and 4.8% by 2026, respectively. Digital communication is opening up ways to increase interaction with clients and learn more about client’s expectations. Moreover, there is a growing need to deliver a customised experience that resonates to both the individual and collective levels (Davis, 2019). This aspect increased the demand for getting skills on customer personas to shape the creativity capability as a creative specialist. By knowing the various customer profiles, one can determine what advertising appeals to use, the budget and what advertising trends to employ in the advertising plan. 1.3 Industry Trends Three key trends can be identified in the advertising industry, which also impacts my discipline and employment opportunities. The first trend is the emergence of TTL advertising, a strategy that uses both BTL and ATL as an integrated approach to advertising to both mass and focused markets altogether (Furman, 2017). This trend has seen many businesses restructuring their operations to create an integrated model for varied services. This diversification also increases the scope of services, which will increase the enterprise numbers, therefore increasing employment opportunities in the future. Another trend is the integration of BTL and ATL marketing services such as market research and digital advertising to increase revenue streams among advertising agencies (Allday, 2020). This trend also creates more employment opportunities for job seekers and a chance to meet various needs in the market. Another trend is the increased awareness of targeted advertising among consumers and the need for a results-based metric approach. Targeted advertising is based on customer personas which entails specific interests and preferences. In this regard, consumers are becoming more knowledgeable of advertising effectiveness, and advertising agencies need to consider measurable services to meet this new trend (Chaffey & Ellis-Chadwick, 2019). This trend impacts the employment opportunities by increasing demand for refined skills set including Search Engine Optimisation, paid search and content marketing (Stokes, 2011). 2.0 Audit of Career Competencies 2.1 Graduate Capabilities Table one Auditing career abilities Graduate competencies Experience/Knowledge Benefit to the employer Rating Teamwork I have successfully managed to work with diverse groups, especially in my class assignments. The diversity in a group setting exposed me to working alongside others for the achievement of better results. besides, my Big Five personality traits show that I possess agreeable ness, openness and extraversion which are great qualities in a team (see appendix 1) Teamwork benefits the employer by fostering creativity and learning to achieve the best results. 8 Analytical ability I have successfully managed to complete research taking the role of an event planner in my coursework. I got a passing grade (QUT, 2021) Analytical skills help the employer in drawing logical conclusions from a wide knowledge. 7 Communication skills Throughout my studies, I have acquired knowledge on communication by undertaking and completing units such as speech communication and professional communication (QUT, 2021). Communication skills are beneficial to an employer because it increases employee engagement thus productivity (Qwikresume, 2021). 7 Discipline-specific capabilities Creativity and innovation The units in my coursework, such as advertising campaigns, have sharpened my creativity and innovation skills, a crucial skill in creative design (QUT, 2021). Creativity and innovation are a crucial skill in the industry because it allows me to create advertising concepts that appeal to consumers. 8 Digital skills In the future, every aspect of my career requires digital media, and I have prepared myself for this experience. This has increased my interest in the digital environment, navigating its platforms, and noting crucial aspects such as paid search and content marketing. Digital skills are becoming mandatory skills for individuals seeking to work in the advertising industry. This is because most people spend most of their time on digital media, and it has become part of people's lifestyles. Therefore, digital skills better marketing communication 7 Planning During my studies, I have engaged myself in developing several advertising campaigns, which have increased my knowledge of planning. This skill benefits the employer because it supports the strategic planning aspect in the advertising process for long-term and measurable results. 9 2.2 Personal values and employment preferences Personal values Less important Most important A strong work Ethic Honesty Self-motivated Responsibility Adaptability 2.3 Individual employment preferences Career Rating in terms of preference (out of 10) Location: · Brisbane · New York · Sydney 9 Company preference: · Small-sized · Medium-sized · Large-sized 8 Type of job · Creative specialist · Graphic designer · Digital marketer 9 Compensation · Satisfying pay 10 2.4 SWOT analysis of career competencies Strengths: · Proficiency in planning skills · Digital skills · Communication skills · Analytical skills · Creative and innovative Weaknesses: · Lack of experience in the work environment · Individual preferences which limit the job opportunities Opportunities: · A growing advertising industry · Companies integrating various industry roles present several career development opportunities Threats: · Competition from a cohort of college and university graduates · Competitors with superior skills and knowledge · Saturated job market 3.0 Employment strategy My unique selling proposition stems from a wide range of skills and abilities in advertising, including a refined skill sets to working with digital content. For instance, skills such as creativity and innovation, digital skills and planning and organisational skills such as teamwork and communication skills will be a plus in the job market (Digital Marketing Institute, 2020). Additionally, I will employ a professional tone and show readiness to learn as I have no prior working experience. My priority with the personal brand character will show a passion in the advertising industry and my drive for achieving better results. In the above employment strategy, I outline my unique selling proposition and my brand personality. This strategy is stout enough to secure employment once I graduate since it aligns with the trends and insights gained from analysing the industry. For instance, the trend of companies integrating different industry roles suits my brand personality well because I possess varied refined skill sets to meet the needs. This aspect, therefore, would appeal to many employers as I have several capabilities in the workforce. Additionally, this unique selling proposition is supported by evidence, as shown in section 2, whereby I gained knowledge by completing various coursework subjects. Because I have not had any chance to work in an actual environment yet, I hope to keep an ambitious and ready-to-learn tone so that I can stand a chance of getting employed. 4.0 Recommendations Given the above analysis and strategy, I have developed three recommendations to strengthen my employment strategy. Recommendation 1: Because I do not have workplace experience, I recommend applying for digitally-focused internships and industrial attachment opportunities to equip me with workplace knowledge, build a professional network, and build a strong resume. Recommendation 2: Because I have above-average digital, creativity, and innovation skills (see table 1), I recommend seeking additional skills outside my university coursework. For instance, clubs such as Anime and Manga, HR connect, and AMPed will equip me with a wide range of skills and knowledge. Recommendation 3: according to research, a creative specialist needs to have a refined set of skills, such as a solid understanding of design, copy and web practices (Qwikresume, 2021). Because these skills are essential, I recommend that I take advantage of the coursework opportunities, including seeking insights from my role supervisor to gain as much knowledge as possible. 5.0 References Allday, A. (2020). Digital Advertising Agencies in Australia . IBISWorld Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson UK. Davis, B. (2019). Digital advertising trends in 2020: What do the experts predict?. Econsultancy. Digital Marketing Institute. (2020). 10 DIGITAL SKILLS THAT CAN MAKE STUDENTS INSTANTLY EMPLOYABLE. Retrieved from: https://digitalmarketinginstitute.com/blog/10-digital-skills-that-can-make-students-instantly-employable Furman, J. (2017). Everything You Need to Know About ATL, BTL and TTL Advertising. Sales and Marketing, 1-3.https://econsultancy.com/digital-advertising-predictions-trends-2020/ McGruer, D. (2020). Dynamic digital marketing: master the world of online and social media marketing to grow your business. John Wiley & Sons. QUT. (2021). Advertising Campaigns AMB339_21se2. Retrieved from https://blackboard.qut.edu.au/webapps/blackboard/content/listContent.jsp?course_id=_156876_1&content_id=_9218268_1 Qwikresume. (2021). Creative Specialist Resume Samples. Qwikresume, 1-3. Stokes, R. (2011). eMarketing: The essential guide to digital marketing (Vol. 563). Quirk eMarketing. Appendix 1 Big five results
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