Detective Agency Business Plan (Advertising)
Licensing and Market Exclusivity
Service Overview and Market Considerations
Strengths and Weaknesses of Service Offered
Advertising
The advertising budget for Barr Detective Agency is small compared to some other service businesses for a good reason. Investigative clients are clients of opportunity. Normal retail advertising is not a solid approach, because most clients are gotten through word-of-mouth and only when they have a problem. Similar to the legal profession, the best cases are derived through the referral system. There are a couple of exceptions to this rule, and those exceptions are legal and insurance clientele. Insurance companies and law firms have a pressing need for investigative services on a regular basis. In fact, they are the only groups of commercial clients in the business. Therefore, any advertising strategy has to incorporate this factor as the main principle for advertising. Targeting law firms and insurance companies through trade publications provides an inherent advantage in strategic advertising because it allows the focus to be on two select groups and nowhere else. All other investigative accounts can have minimal advertising efforts directed at them without a significant impact on revenue.
Notes on Financial Information Presented
