Authors :
Boby Roynaldo; Larso, D
Volume/Issue :
Volume 7 - 2022, Issue 4 - April
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3v8DOJO
DOI :
https://doi.org/10.5281/zenodo.6480787
Abstract :
Modeling agencies all across the world have a
low level of market share concentration, accounting for
less than 20% of total industry income according to IBIS
World. While one of the Talent Agencies in Indonesia also
had a considerable decline in overall sales income after one
year of operation. Providing young and fresh models with
special interests does not grow attractively for the
customers.
The business’s internal condition reveals a low
attractiveness in value offers, despite the business’s great
authenticity. As a result of the present value offers in the
talent agency competition, the business is still lagging
behind the other agencies. Various components in
advertising and promotion assistance are demanded by the
past customers, thus according to interviews. A qualitative
technique was used to get these facts, which comprised a
structured interview, actual observation, and a literature
review.
The analysis of this research shows that Lifestyle
SMEs require assistance in advertising and promotion
services, instead of only modeling services. Through the
business model innovation process, there are three possible
prototypes for a Talent Agency, beginning with the
Creative Agency, Modelling Services Platform, and KOL
Agency (Key Opinion Leader). It turns out the integrated
prototype between the Creative Agency and the KOL
Agency is proved to be the best business model for a Talent
Agency, based on market demand for both value offerings.
Eventually, the Talent Agency should consider being
developed into a Creative Agency business model with onestop advertising, promotion, and micro-influencer services.
Angel investors, banks, the government, and personal
funds are all expected to invest in these creative initiatives.
To support such new resources, a new professional’s
recruitment will be required soon.
Keywords :
Business Model Innovation; Small Business Enterprises; Talent Agency; Value Propositions.
Modeling agencies all across the world have a
low level of market share concentration, accounting for
less than 20% of total industry income according to IBIS
World. While one of the Talent Agencies in Indonesia also
had a considerable decline in overall sales income after one
year of operation. Providing young and fresh models with
special interests does not grow attractively for the
customers.
The business’s internal condition reveals a low
attractiveness in value offers, despite the business’s great
authenticity. As a result of the present value offers in the
talent agency competition, the business is still lagging
behind the other agencies. Various components in
advertising and promotion assistance are demanded by the
past customers, thus according to interviews. A qualitative
technique was used to get these facts, which comprised a
structured interview, actual observation, and a literature
review.
The analysis of this research shows that Lifestyle
SMEs require assistance in advertising and promotion
services, instead of only modeling services. Through the
business model innovation process, there are three possible
prototypes for a Talent Agency, beginning with the
Creative Agency, Modelling Services Platform, and KOL
Agency (Key Opinion Leader). It turns out the integrated
prototype between the Creative Agency and the KOL
Agency is proved to be the best business model for a Talent
Agency, based on market demand for both value offerings.
Eventually, the Talent Agency should consider being
developed into a Creative Agency business model with onestop advertising, promotion, and micro-influencer services.
Angel investors, banks, the government, and personal
funds are all expected to invest in these creative initiatives.
To support such new resources, a new professional’s
recruitment will be required soon.
Keywords :
Business Model Innovation; Small Business Enterprises; Talent Agency; Value Propositions.
