Love your market and your market will love you
Friday, August 16, 2013
When the boss of Elite Model Management had the idea of turning his models into celebrities in the early 1970s, the effect it would have on the industry, the press and the fashion industry as a whole was underestimated.
The model agency founded by John Casablancas in Paris in 1972 continues to be one of the fashion industry’s most powerful names to this day.
Casablancas encouraged his models to live in the fast lane, lead the rock and roll lifestyle and keep the press hooked. He had a vision for his company – to cultivate his models as celebrities with potential earnings similar to those of the major actors and actresses of the time.
It is essential for companies to know all there is to know about their marketplace, from its past, to its current position and of course where it is heading. Elite’s vision attracted supermodels such as Heidi Klum, Claudia Schiffer and Naomi Campbell.
Casablancas identified what he perceived to be the weak point of other agencies and capitalised on this. He said: “They didn’t cater to the ego of their models. Ego is the engine to most in life.”
Casablancas recognised what drove his industry and today businesses spend vast sums ensuring that they know what drives theirs.
Similarly, in PR, specialisms are essential. At Admiral we specialise in a combination of traditional and digital PR, supporting clients in the public, private and not-for-profit sectors. Although we work across a broad range of business sectors, we have focused our efforts on higher education, energy and professional services. To check out some of our case studies visit our sector and services section.
In PR, agencies that focus on specific industries have a greater knowledge and understanding of the market place
At the end of the day, it’s not just familiarity with a sector that will drive business growth, understanding markets and audience behaviour are also important factors in driving better results and delivering greater return on investment.