Sherri Studios Business Plan by tionnesherri

CONTENTS Executive Summary 2 Who we are 6 What We Do 19 Market Analysis 29 S.W.O.T Analysis 39 Marketing 45 Operations 65 Financial ANALYSIS 71 BIBLIOGRAPHY 76

It is our responsibility as Women to educate ourselves and each other, enabling us all to lead our lives and the world with intention and purpose.

EXECUTIVE SUMMARY

Who We Are

The Market

Sherri Studios is a creative services agency dedicated to the empowerment and advancement of women. Our mission is to t is our mission to provide women all around the world with the tools, platform, and community to shatter glass ceilings one business at a time. We

carry

Influence,

out and

this

mission

Impact

with and

the the

three

Iâ&#x20AC;&#x2122;s:

H.E.A.R.T

Our target market is millennial women entrepreneurs. At Sherri Studios, we know first hand what obstacles women face when it comes to starting a business. These to

problems

having

range

difficulties

from

getting

societal

pressures

business

financing.

Intention, Principle.

Although these obstacles can be a detriment to out target market, Sherri Studios has found that women are overcoming these obstacles anyways.

What We Do Our services include:

Brand identity Digital Design & Development Marketing, Market Research Print Design Monthly Press Outreach & Brand Support Monthly Marketing & Content Creation

And with the right guidance and education, we can

aid

women

starting

businesses.

Our competitor analysis consist of three companies that provide similar services as us.

Although these

companies are doing quite well in the market, we believe that Sherri Studios has a strong chance of standing out due to its brand positioning, service quality, and values

Marketing

Operations Location

Sherri word

Studios of

mouth

marketing marketing

strategy and

social

heavily media

based

The sherri Studios office is located in Shoreditch London.

marketing.

Our office layout in clean and minimilistic.Facilities include a kichent ares, board meeting room, lounge area, work

The was we measure our success is through:

desks, and two offices for private client meetings.

Brand Awareness

Technology

Audience Growth

At Sherri Studios, we approach all of our projects from a

Social Share of Voice

digital prospective. This allows us to provide our clients

Average Engagement Rate

with the most realistic product mock-up designs and result

Conversion Rate

driven products. The software that we utilize include:

Marketing efforts include:

Adobe Applications - Product Development Mail Chimp - Email Marketing

A Launch Event Social Media Campaigns Press Kits A Blog Email Marketing

Insightly - CRM

Financial Analysis Our financial analysis suggests that we need ÂŁ300,000.00 to have a successful first year of operations. If we achieve this amount, we will be able to break even before the end of the year.

WHO WE ARE

WE ARE SHERRI STUDIOS

â&#x20AC;&#x153;Behind every successful woman is a tribe of successful women who have her backâ&#x20AC;?

Sherri Studios is a new creative

investors. We also offer free

service agency dedicated to

resources for new businesses

unveiling the power of women

on our website, accompanied

owned businesses. We provide

by our blog. We are shaped by

expertise brand development,

the most creative minds, always

marketing , print design, public

curious, we act as a collective

relations services, and

access

to a community of women

challenge

our

clients,

each other, and the world.

Mission It is our mission to provide women all around the world with the tools, platform, and community to shatter glass ceilings one business at a time.

We carry out this mission with the three Iâ&#x20AC;&#x2122;s: Intention, Influence, and Impact.

Vision Our vision is to reclaim the power of women all around the world creating a society in which the idea of a woman in power is no longer an exception to the rule but, a necessity.

WHO WE ARE

Objectives Have a 100% customer satisfaction rate Use the HEART Principle when interacting with clients and other employees Use social media to gain at 3,000 followers/ potential clients Getting Investors for funding expansion Offering specific tools to help women get started with creating their business

Aims Most renowned client list Help over 1,000 women start their own business Establish Customer Loyalty Established presence in the Industry Have offices in 4 different countries

OUR CORE VALUES ALIGN WITH THE H.E.A.R.T PRINCIPLE Honesty As a company, Sherri Studios keep our promises, our word and our follow through. It is the foundation of our integrity and it makes everything else possible. We expect the same honesty from each of our employees. Establishing this culture of honesty allows us to create consistent workplace behavior and run a create an atmosphere of integrity.

Excellence Operational excellence is based around executing business strategy on a consistent and reliable basis, leading to more revenue and decreases in risk and cost. At Sherri Studios, we show passion for results every day. This means embracing the standards, executing perfectly, attending to the details of every detail, giving the best of ourselves and welcoming opportunities to improve and grow.

WHO WE ARE

Accountability We

put

the

without perspective,

dignity

interrupting, and

people

showing honoring

first.

high the

being

regard individuality

courteous,

for

listening

differences

Our

People.

Respect At Sherri Studios, respect reaches much further than manners and compliance. It also plays a key role in recognition, engagement, and in creating a strong our organizational culture.

Trust Successful businesses are built on relationships. Relationships between employers and

employees,

staff

and

customers,

internal

stakeholders

and

external

stakeholders. At the foundation of all relationships is trust. At Sherri Studios, having total trust in one another allows us to have: increased productivity, improved morale amongst employees and staff, the ability to work more effectively as a team, rather than individuals, reduce the time to make and discuss key issues as each individual trusts in the judgment and expertise of their colleagues.

CORPORATE SOCIAL RESPONSIBILITY Our Corporate Social Responsibility (CSR) company policy refers Minimal Environmental Impact

to our responsibility toward our environment. Our companyâ&#x20AC;&#x2122;s

Our

existence is not lonely. Itâ&#x20AC;&#x2122;s part of a bigger system of people,

trusted

values, other organizations and nature. The social responsibility

our

protect

of our business is to give back to the world just as it gives to us.

products impact

values

the

which

have

help

The

including

environment.

that and

supplier,

reduce

Printed our

Together, minimal our

Word,

desire we

source

environmental

carbon

footprint.

The Printed Word uses PEFC or FSC certified (AnchorPrint. Commercial Printers in Leicester UK, 2019), meaning they are sourced from sustainable forestry, and recyclable materials for product packaging. This allows Sherri Studios to not only reduce our carbon footprint but introduce the brands we work with to eco-friendly packaging.

WHO WE ARE Partnership with Women for Women International; As a part of Sherri Studios effort to increase the global ratio of female entrepreneurs, we are in a partnership with Women for Women International.

This is an organization that

supports the

most marginalized women in countries affected by conflict and war.

Women for Women International has the same belief as Sherri Studios, we believe that in order to make lasting change, women need the skills and resources to build self-confidence, understand their rights, earn an income, and gain the respect of their family and community.

Each of our employees directly sponsors a woman through this organization; a fee of ÂŁ35 per month/ woman, paid for by Sherri Studios (Give.womenforwomen.org, 2019). Our employees are then tasked with staying informed on the progress of the woman they are paired with.

Full Transparency Sherri Studios believe brand transparency is not an option, it is a requirement. According to a study conducted by Label Insight,

of more than 2,000 customers , they found that 94% of

people are more likely to be loyal to brands that are completely transparent (Karapetian, 2016). This means Sherri Studios is able to create a connection to out clients through our transparency.

Efforts will include: publishing out annual reports, making our employee salaries transparent, being honest about our pricing, and creating a platform for open and honest dialogue through social media.

OUR TEAM Chief Executive Officer

Account Manager

Digital Designer

Junior Designer

Tiâ&#x20AC;&#x2122;onne Debnam

Jen Lawery

Sara McLee

Suzanne Matis

The main roles of our

Our

Chief

works

Executive

Officer

Account directly

Manager

Our Digital Designer is

Our

with

responsible for overseeing

has of

responsibility

everyone on the team. Her

all

decisions,

role within Sherri Studios

projects for our clients.

Designer with all client

and

is to oversee projects on a

She

projects that include digital

Sherri

day-to-day basis, ensuring

conceptualization

and

services.

Studios, and being the

that they run smoothly

implementation of design

creating

public face of our agency.

and achieve their potential.

meet

and marketing collateral

She

hands

Daily contact with clients

marketing strategies from

for clients and developing

on role, directly working

is a key part of her job.

concept

social media campaigns.

overall

operations

resources

has

very

with many of our clients .

design

the

Designer

is to make all company managing

digital

Junior

responsible

solutions

that

for

completion.

helping

our

This

Digital

includes

branding,

sales

WHO WE ARE

Marketing Coordinator

Projector Manager

Market Research Analyst

Chloe Paddington

Jade Abimbola

Kate Singleton

Our Marketing Coordinator

Our

oversees all of our marketing

manages key client projects.

consumer

and public relations efforts.

Her responsibilities include

order to help us decide how

This includes the planning

the

and execution of our monthly

completion of projects on

market our clients products

networking events. She also

time within budget and within

and services.

works along with our Digital

scope. Overseeing all aspects

She then interpret the data

Designer

of projects. Set deadlines,

collected and â&#x20AC;&#x2039; organizes the

assign

information

manage

our

agencies social media content.

Project

Manager

coordination

and

responsibilities

monitor

and

progress

and

Our Research Analyst assess

shape,

preferences

advertise,

into

and

statistical

summarize

tables and reports, creating a

projects.

visual of industry trends and of competitors.

WHAT WE DO

SERVICES WE OFFER We believe that brand identity isn’t a cost - it’s an investment. An effective, engaging and meaningful brand can make a good startup great, and make a great startup world-class. Our agency’s branding packages developed specifically for startups and small businesses not only deliver a logo design and visual identity that you can be proud of, but include many other important materials will continue to add value to your business for years to come.

We offer:

Brand identity Digital Design & Development Marketing Market Research Print Design Monthly Press Outreach & Brand Support Monthly Marketing & Content Creation

WHAT WE DO

Brand Identity

campaign, a new website, ongoing marketing management or a plan

We believe in strategic thinking. Because frankly, no other

for social content. We always take a strategic approach that will build

kind of thinking will do. Our approach to brand strategy is

and strengthen brands, as well as achieving immediate tactical goals.

based

reflection,

market

analysis,

self-questioning

and

Results matter to us, because we know they matter to our clients.

refinement of purpose. We offer a deep analysis of businesses

Print Design

Digital Design & Development

Our in-house team of super-talented print designers creates

Design and development allows businesses to tell a story and

everything from high profile brochures and magazines to

create genuine user engagement. Our clients might need a

stationery

straightforward website designed to communicate their brand

experience. Or they may require a complete, integrated campaign

inspirational,

understand

audiences

that incorporates email marketing, optimized landing pages and rich

and

have

how with

to print

effective use to

the benefit

creative

advertising.

special

relationship

our

clients

brands.

Monthly Press Outreach & Brand Support

media HTML5 banners- for example. We design online experiences

Our Press Outreach & Marketing Support Retainer is for great

that audiences love because theyâ&#x20AC;&#x2122;re intuitive and easy to use.

brands with great products. We approach PR in a digital way,

Content Marketing

increasing awareness of your brand by pitching to editors, creating

Content marketing, sometimes known as brand journalism,

targeted press releases and getting your products featured in the

is the process of creating and distributing quality content

worlds best online and print magazines, all for a fraction of the cost.

that need

gives while

clients

target

positioning

audience their

what

business

they as

want

and

Monthly Marketing & Content Creation

trustworthy

Our

experts â&#x20AC;&#x201C; while hopefully building a loyal customer base.

Monthly

content legwork

Marketing

We think big, and we make things happen, whether itâ&#x20AC;&#x2122;s a major 21

Content

strategy out

Package

each our

offers

month, clients

social

a and

comprehensive takes

media

the

planning.

THE PROCESS

Sherri Studios development process is a combination

investigation,

strategic

thinking, project management and creativity.

This may be incredibly complex, and for some brands, a very in-depth process is required, however there are many levels on which successful outcomes can be created.

WHAT WE DO Research

Strategy Clarification

The research stage is essential in examining the brands current position

In our brand strategy development stage, we take a combination of

and figure out which direction the brand should go in to maximize its

rational thinking and creative imagination that works for the company

potential. Our first priority is to understand our client’s company mission,

internally and for its customers externally.

vision, objectives, target markets, brand values, personality, strengths, weaknesses and its USP. This comes from asking management and

Our brand strategies clarify the following:

stakeholders a plethora of questions to get a broad overview of the brand. •

Vision

Along with the brand audit, we conduct a competitive audit for the brand’s

•

Target markets

competitors. This gives us a better understanding of how the brand is

•

Competitive advantage

positioned in the market.

•

Brand values

•

Brand personality

After the research phase is done, we create a report to inform the

•

Brand promise

development of the brand moving forward.

•

Brand proposition Design

Research allows us to do the following:

•

Clarify the vision, strategies, goals and values of the company

•

Ask key management their vision for the brand

•

Research stakeholders’ needs and perceptions

•

Conduct a brand audit

•

Conduct a competitive audit

Having studied the research analysis and strategy report, our creative team then works to develop the brand’s design. When designing a brand identity, we look in detail at a number of key areas and whether they accurately represent the values and personality set out in the strategy. The design process begins by figuring out what colors, fonts, shapes and icons would be eye-catching and illustrative of the brand.

These designs are then trialled on real documents such as business cards,

values determined in the strategy. The final look needs to work online and

letterhead, website, leaflet, folder etc. From these, it can be established

off-line, at large and small scales, and in targeting all potential markets.

whether it will work on different scales, on different materials, and on

In essence, it is creating a unique visual language that will express itself

screen or in print. This will also give us physical examples to present to the

across all applications. It is at this point in the process that the identity will

client.

be tested in real applications, as opposed to the hypothetical ones in the previous stage.

Touch-points

Managing Assets

In the event that the clients approve of our concept, we move forward with the finalized products.

If the client has decided to continue with one of our monthly plans, we will These touch-points may include:

•

Website

•

Business cards

•

Letterheads

•

Brochures

•

Leaflets

•

Signage

•

Product design/packaging design

•

Advertising

work in partnership to manage their brand’s assets.

This would include:

The key part of this stage of the branding process is to create a consistent, yet flexible look across all touch-points, which fully represent all of the

•

The internal and external brand launch

•

Creating brad guidelines

•

Designating roles as to who looks after which part of the brand

WHAT WE DO

Research •

• • • •

Asset Management

Design

Clarify the vision, strategies, goals and values of the company Ask key management their vision for the brand Research stakeholders’ needs and perceptions Conduct a brand audit Conduct a competitive audit

•

• • • •

• • • • • • •

• •

• • • • • • •

Vision Target markets Competitive advantage Brand values Brand personality Brand promise Brand proposition

•

Strategy

An internal and external brand launch Communicating the new brand identity to employees and customers Creating branding guidelines Designate roles – who looks after specific parts of the brand?

Website Business cards Letterheads Brochures Leaflets Signage Product design/ packaging design Advertising

Touch-points

WHAT MAKES US DIFFERENT We donâ&#x20AC;&#x2122;t do mediocre At Sherri Studios, we strive for excellence. Every project is approached with the intent to strive for the best we can possibly do. Meaning we are open to criticism, fixing our mistakes, and learning every single day.

We are brave We stand up for what we believe in and do not settle for anything We

also

less; find

take

bravery

risks in

and

the

achieve

ability

the

impossible.

vulnerable.

We are creative Sherri Studios hires not only experts in their fields but, people who have room to grow and a real passion for what they do. We break boundaries .

We do whatâ&#x20AC;&#x2122;s right We take our social responsibility very serious. It is our responsibility to not only take care of our planet but the people who inhabit it.

WHAT WE DO

We believe every brand should be: Meaningful

Even the best brand strategy isn’t worth the paper it’s

A brand has greater impact when it has a strong emotional

printed on unless you act on it. Brands are brought to life

connection to individual people – when it has meaning. A

by behavior. What you say. The way you look. In the realm

brand that’s meaningful is more compelling and more

of consistency, details count. Big things count, little things

valuable than a brand that isn’t.

count and everything in between counts.

Empathetic

Authentic

Empathy is understanding people at a level of emotional

Authenticity is the defining quality of a brand. It comes

truth. Figuring out what matters most to them. For a brand

naturally when you know who you are. When a brand rings

that wants to matter to people, there is no substitute for

true, people can not only tell the difference, they can feel it.

empathy. Emotive Purpose-led

A brand that’s emotive triggers feelings, inspires action,

When people see that a brand stands for a higher purpose,

earns loyalty and lifts peoples’ spirits. These brands reach

they pay attention. A purpose-led brand simply means more

a deeper level in people’s hearts and a higher level in their

to people, and when a brand lives up to its purpose, it can

minds. In the pressure-packed business world, it’s important

make a world of difference.

to remember that your brand needs to connect rationally and emotionally. Never overlook the mind, but always aim

Consistent

for the heart. 27

MARKET ANALYSIS

TARGET MARKET The average millennial spends 18 hours a day connected to some form of media (Taylor, 2014). All this connectivity means that we are looking at an expanding advertising world like never before. As we settle in to consume hours of media each day, thereâ&#x20AC;&#x2122;s even more opportunities for brands to push their content into our lives. But in a world where people are smarter than ever before about the content they consume, it is crucial for companies to integrate strategic planning with creativity.

This expanding industry allows Sherri Studios to focus in on a niche market. Our target market consist of millennial women entrepreneurs. We believe many women around the world have the ambition to start successful businesses but do not have the tools or guidance. At Sherri Studios, we understand the societal pressures that women face and how difficult it can be for them to start their own business. This is why our services are dedicated and tailor-made for them.

Market Analysis

Evel yn

Traits

Pe te r

Self Motivated Multitasking Tech-savvy

en om W s es

Creative

Ambitious

Leader

Evelyn Peters is a 24 year old newly graduate living in London, with

undergraduate

degree

Fashion

Management.

She

has interned for a few fashion magazined such as Dazed and Cosmopolitan, and is ready to start her own business. Currently

The Inde

p e n d en t B us

â&#x20AC;&#x153;Build your business success around something that you love â&#x20AC;&#x201D; something that is inherently and endlessly interesting to you.â&#x20AC;?

she

works

for

Buffalo

Zine,

independent

fashion

magazine.

When she is not at her day job, she is freelance writing for other fashion publications, reading biographies, or partying with friends.

She is hoping to quit her day job soon to pursue her dream and dedicate Age: 24

her full attention to her business. However, she is not quite sure that

Gender: Female

she has all of the tools and access to the necessary information to fully

Location: London, UK Occupation: Freelance Writer

commit. She is looking for a branding agency that will not only aid her in developing her personal and business brand but, that is dedicated to helping her learn what goes into starting a successful business and understands the obstacles that women face in the industry. 31

THE GROWTH OF WOMEN ENTREPRENEURS In the past 30 years, the amount of women

owned

businesses

have

for Business & Professional Women, 2019).

grown

exponentially. According to the National

Although there are many odds against

Association of Women Owned Businesses,

women,

they

are

in the United States, women are majority

succeed

and

stand

owners of roughly 11.6 million businesses,

odds.

generating

Entrepreneurship Report from SCORE, the

$1.7

trillion

sales

and

employing nearly 9 people (Nawbo.org, 2019).

number

According

finding

against

the

women-owned

ways

to the

Women’s

businesses

increased by 45% from 2007 to 2016 (THE Simultaneously, there are still many obstacles

MEGAPHONE OF MAIN STREET: WOMEN’S

that women face as entrepreneurs. Existing

ENTREPRENEURSHIP,

data indicates that a lack of access to finance,

Studios, this means that as the number of

disproportionate representation in sectors

women entrepreneurs continue to increase,

with lower returns, and a disproportionate

in theory, the size of our customer base will

burden of household responsibilities all

increase as well. This will allow us to find

influence women’s tendency to run smaller

success in the empowerment of women.

and less profitable firms (Long Island Center 32

2018).

Sherri

Market Analysis

The

chart

depicted

indicates

the

amount

Business, p.7-8 2018). This sample ranges from about

businesses owned by women in each region based

one in two female entrepreneurs in North America to

on a study conducted by the Future of Business.

one in four in Asia. This study suggests that more than

Nearly 32,000 workers at small and medium enterprises

half of entrepreneurs in the world are men, meaning

in 42 countries responded to the survey in December

there is room for improvement and Sherri Studios is

2017 - January 2018, including 24,300 business owners

taking on the responsibility of increasing these numbers.

and partners, of which 8,500 were women (Future of

1. Social Expectation Societal discrimination still dictates that certain businesses or tasks are better handled by men: e. g. auto mechanic, commercial bus driver, plumber, etc. Women are often assumed to be generally incompetent in certain fields, and people would rather do business with men because it’s believed that they are ‘born to do it’. As a result of this societal view, some women fear that they will not being taken seriously and that their opinions and advice will not always viewed as ‘expert’.

2. Limited access to funds Raising capital is even more difficult for women-owned firms. A 2014 Babson College report found that less than 3 percent of venturecapital-funded companies had a female CEO. Additionally, loan approval rates for female entrepreneurs is 15 to 20 percent less than it is for men (Brush, 2014).

3. Coping with fear of failure Fear of the known and the unknown is a major issue for women. They dread failing, especially if the people surrounding them were skeptical of their capability in business. This fear is toxic and perilous, because women may end up operating from a place of fear instead of confidence. As a result, they will fail in business even when they were meant to succeed.

Market Analysis

OBSTACLES FACED BY WOMEN ENTREPRENEURS 4. Gender Inequality Laws, cultures, religion, and politics are built upon a patriarchal foundation. Women must work their way up in the masculine world while facing stigma and discrimination. Although laws and policies have attempted to create a favorable business environment for everyone, the actual changes have not yet been implemented.

5. Balancing family and life A large number of women are not just entrepreneurs or career peopleâ&#x20AC;&#x201D;they have families, spouses, and other responsibilities. Demands from personal and professional commitments can pressure a woman to abandon either her business or family. The family expects her to be a mother and wife, while the business requires her to be the leader and show commitment.

6. Building a Network Having a robust support network is essential for entrepreneurial success, so itâ&#x20AC;&#x2122;s no surprise that 48 percent of female founders report that a lack of available advisers and mentors limits their professional growth, according to Long Island Center for Business & Professional Women (Long Island Center for Business & Professional Women, 2019).

COMPETITORS ANALYSIS

Company Info:

NAME: Sum Designs

NAME: Pollen London

LOCATION: London, UK

LOCATION: London, Barcelona, Paris

LOCATION: London, UK

COMPANY SIZE: Unknown

COMPANY SIZE: 40

COMPANY Less than 10

Description:

Services:

Sum Designs an integrated creative agency that provides services for globally recognized brands in the luxury, lifestyle and fashion sectors.

Pollen London is a branding and digital agency from London. They're passionate about design and deliver outstanding results. Has 14 years of experience.

Cult Ldn. is a creative agency. Specializes in Social strategy & execution, Online talent management, Online & social advertising, and Trend reports & training. Has 7 years of experience.

Luxury Marketing Creative Direction Brand Strategy Luxury Branding Advertising Digital Design & Development Content Strategy Graphic Design Productin

E-Commerce Web Design Branding & Visual Identity

Strategy and Execution Trend Forecasting Content Production Creative Concepting and & Delivery Report &Analysis Social Talent Management Event Management

Strengths:

Strengths & Weaknesses

NAME: Cult Ldn.

-Relatively large client list -Positioned as a luxury brand -Has an industry news section on website

Strengths:

Strenghts:

-Established Portfolio with big brand companies -Clients all over the world; in 7 countries -3 office locations

-Has a very active online following on their instagram and Linkedin; great social media marketing strategy -Company Transparency -Relatively large staff with two locations

Weaknesses:

-Has a very small team -Could have a better social media presence -Could have a better functioning website

-Offer a very limited amount of services -Could have a better social media presence -Very littler company transparency

Weaknesses -There is room for a better Facebook presence -What part(s) could be improved to strengthen services? -What elements have prompted feedback?

Market Analysis

Compared to our competitors, Sherri Studios

is currently a

UK based brand that works with a combination of small and luxury businesses. As a branding agency, we believe that

our

ability

work

with and understand small business

owners

sets

apart from our competition. 37

MARKET S.W.O.T ANALYSIS Analysis

S.W.O.T ANALYSIS

39 39

STRENGTHS Highly Innovative

of the business and the reason for our success. Not only do we

for new technology and processes to allow us to run our

only hire highly capable people but, we train our staff on a bi-

business more efficiently and creatively. We do this through

monthly basis due to software updates and new industry trends.

working

Sherri

Studios,

small

teams,

are

constantly

to have a staff that is highly skilled. Our staff is the backbone

automating

certain

the

tasks,

and

Team based culture

continuing to value our customer service and their experience.

Effective sales and service culture

We have found that having a team based system is the

most efficient ways to get tasks done within our company. This

Our customers’ experience and satisfaction is one of our top

allows us to take groups of independently talented individuals

priorities at Sherri Studios. We take pride in our service culture which

and create a team in which they are able to merge their talents.

is based on our philosophy ‘to reclaim the power of women all around

Not only does this produce remarkably creative ideas but, their

the world creating a society in which the idea of a woman in power is no

performance,

loyalty,

and

engagement

greatly

increased.

longer an exception to the rule but‭, ‬a necessity’. We hire employees

Clear brand proposition

for our culture, educate and train our staff, continuously measure our performance, motivate our employees, and let go of individuals who

Our brand proposition is the most important aspect of

no longer fit our culture or are no longer dedicated to our philosophy.

our marketing message. ‘We are a company by women, for women’ tells our clients that we understand the obstacles that

Strong staff skills and expertise

they face as women. This proposition also reminds our employees

Being apart of such a fast paced industry, it is a necessity

everyday what their mission is and who they are serving. 40

S.W.O.T Analysis

WEAKNESSES Saturated Market

Revenue based on economic health

A variety of factors, including more competition, lower market need and

In times of economic duress, some companies substantially

obsolescence, contribute to saturated conditions. Our agency will have

reduce

to make strides and take risks to help us stand out from our competition.

economic

Obstacles faced by women Due to our target market being female entrepreneurs, the lack of them in the UK will make it harder for us to find clients. Currently, women only make up 17% of all UK entrepreneurs.

Authenticity Many agency/client relationships, through a mandatory audit as a contractual condition, are compelled to be truthful or risk losing the account. But in the vast majority of other agency/client dealings, bending the truth can occur, and makes clients suspicious, strains business relationships, and weakens the partnership bond over time.

their

advertising

health

expenditures.

declining,

So,

business

if will

the

overall

decrease.

OPPORTUNITIES Position our brand as the market leader

time. Being able to expand globally will bring us closer to that goal.

Becoming a market leader in the branding world will

open more doors of opportunities for Sherri Studios. It will allow

Develop relationships with media outlets

us to be seen as a dependable agency and solid competition

to our competitors. We plan on taking advantage of this

meaningful

opportunity by building our audience, continuing to be innovative,

outlets. These relationships not only affect our brand but the

and staying true to or values, principles, and philosophies.

brands that we work with, represent, and our overall message.

Build Consumer love for our brand

These relationships will also allow us to spread our message.

Consumer love will in turn lead to brand loyalty. We can do this

and

positive

relationships

with

certain

media

The Gig Economy

by creating value for our customer, defining our voice, continuing to

The â&#x20AC;&#x2DC;Gig Economyâ&#x20AC;&#x2122; is a fairly new concept and trend in the job market.

think differently, focusing only on our target customer, and continuing

It is essentially the world of freelancing. Our company can heavily

to show our passion for what we do. This will not only produce consumer

capitalize off this type of economy because instead of having a plethora

love for our brand but, build a community of passionate clients.

of long term employees, we are able to create short term contracts, allowing us to always have fresh ideas being brought to the business

Expand internationally

Being a branding agency, it is imperative that we create

and allowing us to save costs, not having to pay long-term salaries.

Positioning ourselves as a global brand will allow us to reach

a broader audience and help more women around the world. Our mission is to provide women all around the world with the tools, platform, and community to shatter glass ceilings one business at a 42

S.W.O.T Analysis

THREATS Internal marketing departments

can increase our trainings to 3- 4 times a year if we see our

Internal marketing and branding is a possible threat.

employees falling behind. We will have to make strides to employ

This cuts out a whole segment of our market due to them not

needing

external

marketing

branding

highly adaptable employees that understand these changes.

services.

Uncertain market conditions

Lack of woman owned companies

In todayâ&#x20AC;&#x2122;s society, there are still many obstacles that women

Due to various political changes and social movements, our

economies are changing rapidly. Being unable to predict these

face when starting businesses. Since, women entrepreneurs are

changes will be a very big threat to branding agencies due to

our target market, this can be a threat. However, we are countering

the changes in company budgets; normally companies cut their

this threat by making strides to encourage women to create

marketing budgets first when cutting costs, and unemployment rates.

businesses and offering them the tools to do so through our blog. Highly financed competitors being able to grow faster

Since we are still a relatively small company, our competitors who have an array of investors are able to grow faster than we do. However, we do not measure our success by our growth but, our effectiveness. Rapid technological change

Although we do hold two annual trainings, technology

today is advancing rapidly. In order to counter this threat, we 43

Marketing

MARKETING

P.E.S.T.L.E Economic

This P.E.S.T.L.E Analysis focuses on the main forces that will directly affect Sherri Studios.

When the overall economic health is decreased, companies start to cut down on spendings, advertising seems to be the easiest and first to be reduced by the financial departments. Although this may have seemed like a wise move, it instead can cause drops in sales as this creates a gap between the consumer and brand. Thus, reducing the costs of advertising may also cause a reduction in sales and potential new consumers. This causes a strain to the advertising industry as companies tend to demand more for cheaper and when advertising agencies fail to deliver companies turn to in house advertising where the company produces their own advertisement at a lower budget.

Technology Technology factors have had a huge impact in society, whether socially, academically or professionally. It has become part of our everyday lives. However, technology has its perks and flaws. Starting with its advantages would be that it is ten times more likely to reach consumers than it did ten years ago. Having technology increases the chances of targeting a wide range of audience as there are plenty of platforms and media to choose from. As well as the ability to track and analyze those who are watching and engaging with brands. However, this is not always a good thing, because the more technology, the more competitive it gets to grab an audience’s attention, it’s no longer an AIDA Model case, it’s much more complex than that.

Socio-cultural Due to the rise of constant use of social media, it is found that companies turn to social media to advertise their content alternatively to traditional advertising such as TV, out of home (OOH) print press etc. due to its major impact and very little cost. Social media has become the most powerful tool and the most powerful platform used by many to speak their opinion freely. Companies do not only gain recognition through the content they provide on social networking sites to interact with consumers but also gain consumers via word of mouth, which in my opinion is the most powerful advertising tool.

Legal In terms of legal, as we are now in a post-privacy era, consumers are more concerned about their online activities than they were a few years back. This is due to cookies and big data, regulations were put in place to prevent concerns online users may have. Websites are now obliged to inform online users that they are using cookies for data collecting purposes. This may cause further issues due to consumers feeling unsafe online preventing them from purchasing online and companies missing out on important data that may help improve consumer’s shopping experience online.

Marketing

MARKETING MIX

BRAND AESTHETIC

Brand Tone Logo

The

Sherri

Studios

brand

is inspired by minimalism , elegance, and empowerment. Our tones are very minimal soft colors with bold powerful images, drawings, and words.

Marketing Colors

Website Design -

Color Name: Sand

Color Name: Lilac

#: c9b99b

#: 9d8b95

CMYK: 22.2, 23.6, 40.7, 0

CMYK: 40.84, 43.88, 32.41, 1.47

Color Name:

Color Name: Black #: 000000 CMYK: 0, 0, 0, 100

RGB CMYK:

Color Name: White #: ffffff CMYK: 100, 0, 0, 0

MARKETING STRATEGY

At Sherri Studios our marketing strategy is almost completely based on social media marketing and word of mouth marketing. We rely heavily on our instagram and Twitter presence

and client referrals.

Marketing

Success Measurements

Objectives

Brand Awareness

•

Increased Conversion Rate

Having a higher brand awareness fosters trust, creates an association

•

Higher Brand Awareness

with our audience, and builds the Sherri Studios brand equity.

•

Security & Risk Mitigation

•

Capture Market by 5%-10% within the next 3 years

Audience Growth This will allow Sherri Studios to reach a larger group of women entrepreneurs.

Social Share of Voice

Goals

Having a larger social share of voice compared to our competitors will

allow us to directly measure our brand awareness.

•

Drive 30 email sign-ups per month

•

Boost social shares of voice by 10% by the end of quarter

Average Engagement Rate

•

Average response time of 1 hour on social media by Sept.1

Having a high engagement rate means that our community is

•

Increase detection speed of potential social media Public

resonating with the content we are posting.

Relations crisis by 20% by the end of year

Conversion Rate This measures the amount of people that click onto our blog or our web-page. This allows us to measure how our marketing efforts directly affects sales

LAUNCH EVENT As a part of our marketing strategy, we plan on hosting an exclusive, invite only launch event in the Sherri Studios office in order to introduce Sherri Studios to the industry and media in a fun, empowering, and sophisticated way. This event will give

potential clients a feel of our brand identity and how our company

operates. This event will also serve our first Sherri Studios networking event, allowing female entrepreneurs to make connections and network with each other.

Marketing

Entertainment Workshops

Reid , the Co-Founder of Wah Nails. She will

At this event, we will be hosting two workshops;

speak about her journey as a young women

‘Why your personal brand matters’ and

starting her one business integrating beauty

‘Self-care for women entrepreneurs’ . These

and technology.

workshops will allow us to position ourselves as not just a business but, educators in the

Music

industry

Up and coming DJ , Emily Rawson, will be in charge of music for the night. Her urban vibe

Talks Founder of Sherri Studios will give an exclusive talk about what she went through when starting the company and how her up bringing led her to where she is today. She will

will be a great pair with Sherri Studios overall brand and atmosphere.

Location The location of this event will be the Sherri Studios newly renovated office in

Invitation Design

share her experiences of being her own boss

Shoreditch, London. We chose this location

The invitations will be delivered by mail to

and the hurdles and rewards she has faced.

because, it will give our guests a more

the guest-list which will include; bloggers,

personal experience of our agency culture.

influencers, and women entrepreneurs.

We will also have a talk from Sharmadean

Entrepreneurs

GUEST LIST Our guest list is composed of a variety of female fashion and lifestyle bloggers, Instagram

Salimatu Amabebe

Camilla Marcus

Francesca Chaney

influencers, and entrepreneurs that will receive

‘Bliss House’

‘West~Bourne’

‘Sol Sips’

Ali Kaminetsky

Karina Ramos

Kelsey Cole

‘Modern Picnic’

‘The Voyage Society’

‘Multivitamin Media’

a personal invitation from Sherri Studios.

Also included on our guest list will be various fashion and beauty brands that can send representatives of the brand to our event.

Marketing

Bloggers

Freddie Harrel

Juliet Angus

Ashley Schuberg

Hannah Donker

‘Freddie Harrel’

‘Juliet Angus’

‘Miss Gunner’

‘Fashion&Style’

Lee Litumbe

Erika Boldrin

Asiyami Gold

Evangelie Smyrniotaki

@SPIRITEDEPURSUIT

@ERIKA_BOLDRIN

@ASIYAMI_GOLD

@STYLEHEROINE

Instagram Influencers

SOCIAL MEDIA MARKETING On our social media platforms, Sherri Studios is aiming to not only target female entrepreneurs but, females aspiring to be entrepreneurs. Our content will be a means of inspiration and education for them. The platforms that we will be focusing on will be Instagram, Twitter, and Pinterest and out blog: SherriStudios.

Objectives

Strategy Our social media approach is not only using our platform as an opportunity to increase our

1. Develop brand awareness. 2. Increase social media community. 3. Strengthen engagement and loyalty. 4. Increased conversion rates. 5. Higher SEO Ranking

sales and ROI but, as a channel for education and means for connection with our customers. Through all of our channels, we create suitable content for our audience and engage with them as much as possible.

As most social media networks use some form of algorithm to filter the results they give people, we will use a content calendar to determine the best times to post and to schedule our post. This content calendar is created by our social media coordinator and is given to everyone who deals with social media marketing.

To track our goals, we conduct a monthly analysis of our social media platforms. This enables us to keep a constant eye on how our metrics are progressing and make changes when certain types of content are not doing well. 56

Marketing The social media platforms we decided to use was based on their main demographic. According to a Hoot suit study conducted by Todd Clarke:

Instagram: 600 million active users, Used by 38% of online women and 28% online men Most popular for 18-29-year-olds

Twitter: 335 million monthly active users, Even split between men/women, Most popular for 18-29-year-olds.

Pinterest: 175 million monthly active users,

Instagram In 12

Twitter In 12

Pinterest In 12

Months

+ 6,334 Followers 527 avg. per month

+ 4,722 Followers 527 avg. per month

+ 6,334 Followers 527 avg. per month

+13,837 Likes 82 avg. per post

+ 276k impressions 82 avg. per post

+13,837 Likes 82 avg. per post

+1,40 Comments 9 avg. per media

+348 mentions Comments 9 avg. per media

+1,40 Comments 9 avg. per media

Used by 45% of online women, 17% of online men Popular with 18-49-year-olds (Clarke, 2019) 57

CONTENT

Marketing

Feed Instagram Sherri Studios Instagram feed is a combination of inspirational post, blog promotion, and our finished client projects.

Pinterest Our Pinterest feed serves to directly promote and drive traffic to our blog.

Twitter: Twitter is a point of direct contact with out community of women. We can also use Twitter as a vessel for all of our research, marketing, branding, and customer service efforts.

PUBLIC RELATIONS Our Media Kit

Our media kit is a very important marketing tactic for Sherri Studios. It will allow us to communicate our brand and message with the press and independent journalist. Our kit can also be sent to potential customers who want more information about

our

agency

before

joining

our

team.

Included will be :

Employee Bios Information about our services Information about our mission Press releases, explaining details of our monthly event Testimonials from past clients Frequently asked questions and answers Lists of notable clients 60

Marketing

Potential Benifit

Purpose

According to Lyfemarketing.com, having a blog for our business

Just like our social media accounts,

has

industry

the Sherri Studios blog aims to inspire,

expert , create value for out customers, increase our SEO, grow

empower, and educate women all over

our

the world. We post a variety of content

the

potential

list,

and

position

generate

Sherri

lead

Studios

conversions

(Patel,

2013).

from tips on starting a business to the importance of sustainability.

The Blog Our Blog will also be a second source of revenue through affiliate marketing and sponsored posts.

Monetization Through affiliate marketing, we will provide links to the products that we are promoting on the blog. Through these links, we have the opportunity to make a commission for every person who buys via the link.

Email Marketing Along with our blog, we will run a

weekly

campaign

called

â&#x20AC;&#x2DC;Weekly Doseâ&#x20AC;&#x2122;. This campaign is a weekly email sent to our subscribes packed with inspiration; everything from our companies favorite podcast to our favorite books and blogs

Marketing

Operations

OPERATIONS

Operations

Sherri Studios location is in Shoreditch, London. We chose this location due to the vibrancy of the area and easy access to other businesses.

Depicted is the layout of our office.

(Images created with Rook Sketcher) 67

TECHNOLOGY Technology is a crucial part of the daily operations at Sherri Studios. It allows us to have effective communication with our customers, execute our ideas with perfection, secure our assets, and much more.

The mains systems that we use to operate is adobe and insightly

Operations

Adobe applications will allow us to execute our product

Inightly is a leading small business CRM that has over

development with precision and ease. Every employee is required

500,000 users worldwide. Its key features include task

to be certified in applications corresponding to their expertise.

management,

pipeline

management,

and

contact

management that help users to track deliverables to their customers, get clear visibility and overview of

Applications That We Utilize Include:

our business, boost customer communication as well Photoshop

as collaboration within the company, and enhance

efficiency

-graphics, photos, and art

and

productivity.

(Insightly.com,

2019)

InDesign

This allows Sherri Studios to improve informational

-publication layouts

organization, enhance communication, improve our

XD CC

customer service, automate our daily tasks, improve

-prototype design

team efficiency, and have more accurate analytical data.

Illustrator

-illustrations and graphics

Premier Pro

-film and video

Light Room

-photo editing

Dimensions CC

-photo-realistic 3D prototypes

Depictided is a demo of the insightly

platform (insightly.com, 2019)

Financial Analysis

FINANCIAL ANALYSIS

SERVICE PACKAGES

In order to create a better experience for our clients, we have packages available fore purchase. These packages include a range of all of the services listed above. The Sapphire and Diamond package include monthly services. These packages have the ability to be customized upon client request.

We also offer individual services that include: press kits, press releases, and influencer packages

Financial Analysis

COST BREAKDOWN One Time Purchase Service

Description

Price *Includes VAT fee*

Consultation

The first hour of all consultations are free. These consultations serve to go over who the potential client and what they are trying to achieve, as well as what troubles they have had.

Press Kit

With a few facts from our clients, we write and design their press kit, and give them the PDF document to send out to press.

£690.00

Press Release

With a few facts from our clients, we write and design a single press release, and give them the PDF document to send out to press.

£340.00

Influencer Package

The package includes a list of 20 brand appropriate influencers and a guide on how to maximize working with them.

£580.00

Logo & Brand Identity Design

We propose 2 brand identity ideas to our clients. They then have the choice to choose from print and digital designs

£1,500.00 +

Digital Design & Development

Our team builds custom responsive websites for our clients to communicate their brand and vision.

£2,500.00 +

Monthly Services

Description

This package includes the set up, PR, and marketing support. The Monthly Press price is the minimum price paid for this services due to the Outreach & Brand client's ability to add services to this package. **The contract Support length is a minimum of 6 months** Monthly Marketing & Content Creation

This package includes weekly content development and marketing efforts to boost brand awareness for clients. The cost reflects 25 hours per month for content creation. Price can increase depending on clients marketing efforts. 73

£190.00/ hour

Price

£3,500+ p/m

£4,600+ p/m

CASH FLOW

The financial analysis depicted in a cash flow prediction for the next year of Sherri Studios operation. Included in this chart is all of our expenses and incoming revenue. Also depicted is a prediction of monthly sales figures.

If Sherri Studios operates at the predicted level of sales, we will be able to break even our first year of operation.

Financial Analysis

Startup 1. Cash on the Premises

1-Jun-2020

1-Jul-2020

1-Aug-2020

1-Sep-2020

1-Oct-2020

1-Nov-2020

1-Dec-2020

1-Jan-2021

1-Feb-2021

1-Mar-2021

1-Apr-2021

1-May-2021

1-Jun-2021

total

£275,500.00

£252,635.36

£234,930.72

£223,626.08

£227,141.44

£238,704.80

£242,370.16

£275,685.52

£301,300.88

£325,508.24

£329,561.80

£322,177.16

£3,491,512.32

Loan

£150,000.00

Partnership Investor (5%)

£150,000.00

2. Income (a) Sales

£5,900.00

£8,600.00

£12,600.00

£20,000.00

£25,000.00

£20,750.00

£15,000.00

£36,000.00

£33,000.00

£32,000.00

£20,899.00

£15,000.00

£18,760.00

£263,509.00

(b) Other Revenu

£500.00

£650.00

£500.00

£1,000.00

£524.00

£650.00

£540.00

£1,500.00

£600.00

£546.00

£460.00

£300.00

£540.00

£8,310.00

3. Total Cash Reciepts

£6,400.00

£9,250.00

£13,100.00

£21,000.00

£25,524.00

£21,400.00

£15,540.00

£37,500.00

£33,600.00

£32,546.00

£21,359.00

£15,300.00

£19,300.00

£271,819.00

£300,000.00

£288,300.00

£271,135.36

£261,130.72

£265,626.08

£278,189.44

£281,504.80

£273,450.16

£317,370.16

£342,885.52

£366,392.88

£368,226.24

£360,161.80

£360,777.16

£4,335,150.32

£8,000.00

£104,000.00

(2a + 2b + 2c =3) 4. Total Cash Available

£0.00

(Before Cash Out) (1+3) 5. Outgoings Marketing Basic Supplies Insurance Web Hosting

£500.00

£2,500.00

£62.00

£806.00

£500.00

£83.33

£1,583.29

£252.82

£3,286.66 £15,000.00

Adobe Subscription Equipment (Computer, Printers)

£500.00

£15,000.00

Bank Fees

£6.50

£84.50

VAT Payment

£1,180.00

£1,720.00

£2,520.00

£4,000.00

£5,000.00

£4,150.00

£3,000.00

£7,200.00

£6,600.00

£6,400.00

£4,179.80

£3,000.00

£3,752.00

£52,701.80 £240,998.29

Wages Office Furniture Rent

£18,538.33

£8,500.00

£3,080.00

£40,040.00

Legal Fees

£50.00

£650.00

CSR Efforts

£245.00

£3,185.00

Loan Repayment 6. Total Cash Paid Out 7. Cash Position

£4,166.66

£54,166.58

£24,500.00

£35,664.64

£36,204.64

£37,504.64

£38,484.64

£39,484.64

£39,134.64

£37,484.64

£41,684.64

£41,584.64

£40,884.64

£38,664.44

£37,984.64

£38,236.64

£527,502.12

£275,500.00

£252,635.36

£234,930.72

£223,626.08

£227,141.44

£238,704.80

£242,370.16

£275,685.52

£301,300.88

£325,508.24

£329,561.80

£322,177.16

£322,540.52

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