Sector: Creative Agency: Photography
Client: Indian subsidiary of a British creative agency, specializing in high-end commercial photography and catalogs.
Promoter's Dream: To grow sales by 400% within five years, with 50% of sales from abroad, and a future of sustained, profitable, growth.
The Avenues of Opportunity Recommended by OPENMIND
Tap Demand in the Region: Even without any sales effort, the client has acquired customers in the U.S., Dubai, and Pakistan. As the South Asia and MENA regions have a severe shortage of skilled photographers, OPENMIND MD, Mr. Richard Rothman, recommended that the client hire a dedicated marketing and sales team to create new customer relationships in the region, to uncover an enourmous source of sustained, profitable growth.
From Outsourcing to Insourcing: The client's British operation has successfully outsourced catalog work to its dedicated Indian unit. OPENMIND recommended that this operation be expanded to accept outside clients. By marketing these outsourcing services to other British companies as well as to Indian companies in that country's emerging booming e-commerce space, the client can discover significant opportunities for sustained, profitable growth.
Focus on Imaging: High quality imaging is a great, fast growing market with huge margins. Yet 50% of the client's photographer capacity is unused, due to inadequate sales effort and management capacity. OPENMIND MD, Mr. Richard Rothman recommended that the client hire a new COO responsible for management, marketing and sales, and appoint sales reps in Mumbai, Delhi and Bangalore to reach new potential cutomers. By restructuring management and focusing on sales, the client can recover an enormous opportunity for sustained, profitable growth.
Actions Taken: The client appreciated and accepted the OPENMIND recommendations and is now moving to restructue its management team. There was promoter and top management participation and involvement throughout the entire process and decision-making.
The OPENMIND Advantage
Industry: The creative agency industry is projected to grow at a Compounded Annual Growth Rate of 12-14% over the next five years.