How Two Founders Grew a Startup into a 100-Strong Agency in London
Who is Kate Ross?π
Kate Ross and Amy McCulloch, the co-founders of Eight & Four, met during a graduate scheme at Reed Elsevier in 2006 and launched their agency in 2008 at the age of 24, building on their expertise in digital marketing from their early careers. They are based in London and have grown the company into a prominent digital marketing agency.
What problem does Eight & Four solve?π
Eight & Four solves the overwhelming complexity of digital marketing by providing nimble, AI-driven solutions tailored to clients' specific needs, which makes their campaigns efficient and effective.
How did Kate come up with the idea for Eight & Four?π
Kate Ross and Amy McCulloch, co-founders of Eight & Four, began their journey during the economic downturn of 2008. With their background in digital marketing from a graduate scheme, they saw the recession as an opportunity to leverage their skills directly for clients. Their idea was sparked by the gap they perceived in traditional marketing approaches and the rising potential of digital platforms.
Having little experience in running an agency, they faced the challenge of building client relationships without prior contacts. Despite these initial struggles, they focused on solving their clients' problems innovatively by closely observing market trends and client needs. They continuously refined their approach through feedback and the lessons learned from early projects.
Their key takeaway was the importance of adaptability and client-centric solutions, which led them to develop their AI-driven platform, Platform12. This inclination to innovate based on evolving industry demands and technological advancements became a cornerstone in defining their agency's direction.
How did Kate build the initial version of Eight & Four?π
Eight & Four was built from the ground up by focusing on digital marketing innovations and leveraging AI-driven technology to create cutting-edge solutions for their clients. The company's tech stack includes Platform12, a suite of AI tools developed to drive efficiencies and enable rapid responses to client needs. This platform was carefully crafted to integrate tools like GPT and Stable Diffusion-based image generation, ensuring secure and brand-focused outputs. The process of building such AI tools required rigorous testing and iterations, confronting challenges related to the fast-paced evolution of AI technologies and internal team dynamics. In developing their proprietary software, Eight & Four ensured continuous feedback loops and staff engagement, fostering a culture of innovation and adaptability that proved critical in successfully realizing their technology roadmap.
How did Kate launch Eight & Four and get initial traction?π
Networking with Women SME Ownersπ
Kate Ross and Amy McCulloch, the co-founders of Eight & Four, leveraged their personal networks to reach out to potential clients, particularly women who owned small and medium enterprises (SMEs). In the early days, they focused on these connections to generate their first wave of clients.
Why it worked: This approach worked because personal connections often come with a higher level of trust and willingness to support. These initial clients likely empathized with the founders' entrepreneurial spirit and were more willing to give them a chance, thus providing Eight & Four with their foundational client base.
Applying for Government Contractsπ
Eight & Four applied for government contracts early in their business journey. An example of this was their application for a tender from Wandsworth Council to rebuild Balham.com, which was a significant project for them, valued at Β£5,000. Winning this project boosted their credibility considerably.
Why it worked: Securing a government contract lent Eight & Four instant credibility, making it easier for them to attract more clients in the future. It acted as a validation of their capabilities to other potential clients who might be on the fence about working with a new agency.
Metricsπ
Although the exact number of initial customers isn't provided, securing a Β£5,000 project from a government body like Wandsworth Council was a significant early milestone, likely contributing to early revenue growth and paving the way for larger projects.
What was the growth strategy for Eight & Four and how did they scale?π
New Business Intermediariesπ
Eight & Four strategically utilizes new business intermediaries to find and acquire new clients. They collaborate with these intermediaries, a sales consultancy, and a PR agency to reach potential customers and secure business deals. This method helps them access a broader network of potential clients who engage through formal procurement processes.
Why it worked: This approach allows Eight & Four to leverage external expertise and networks to win new business, which is crucial in a competitive industry like marketing. By focusing on formal procurement processes, they connect with clients looking for assured and credible partners, fostering credibility and trust.
LinkedIn Marketingπ
The company actively uses LinkedIn as a marketing tool to establish their presence and attract clients. They have a content series and engage in marketing activities specifically targeting LinkedIn users, which helps them maintain visibility in the professional sphere.
Why it worked: LinkedIn is a powerful platform for B2B marketing, allowing Eight & Four to reach decision-makers and business leaders who are active on the platform. This approach ensures that their brand messaging and expertise are well-positioned in front of an audience that is relevant and interested in digital marketing solutions.
TikTok and Podcast Contentπ
Eight & Four develops content for platforms like TikTok and podcasts to engage with audiences and showcase their expertise. They produce a TikTok series and host a podcast which contribute to their overall content marketing strategy.
Why it worked: These platforms allow Eight & Four to demonstrate their understanding of the latest digital trends and tools, showcasing their innovative approach to marketing. Engaging content helps them connect with potential clients and industry peers, tech-savvy individuals who value fresh, relevant, and interactive content.
What's the pricing strategy for Eight & Four?π
Eight & Four uses a customized pricing strategy for digital marketing solutions without publicly available pricing details, focusing on bespoke services through AI-driven innovation rather than standard pricing tiers or free offerings.
What were the biggest lessons learned from building Eight & Four?π
- Embrace Adaptability: Eight & Four thrived by staying nimble and responsive to industry changes. They consistently adapted to new technologies like Gen AI, demonstrating that embracing change can lead to innovation and client trust.
- Cultivate a Caring Culture: They've found success in creating a work environment where team members genuinely care about the company's mission, their colleagues, and their clients. This dedication fosters high performance and job satisfaction.
- Leverage Team Involvement: Engaging the whole team in decision-making and problem-solving processes has proven beneficial. When everyone understands and contributes to the company's goals, it enhances ownership and motivation across the board.
- Transparent Leadership: Open communication about company goals and performance keeps the team motivated and aligned. Sharing commercial results and company vision regularly creates clarity and purpose for all employees.
- Continuous Learning and Innovation: By prioritizing development and innovation, Eight & Four ensures that their team remains inspired and equipped to tackle new challenges, ultimately maintaining a competitive edge in the industry.
Eight & Four Acquisition: How much did Eight & Four sell for and what was the acquisition price?π
Eight & Four was acquired by Qubo Group around 2014, then reacquired by its co-founders in 2022, now operating with 120 employees.
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More about Eight & Four:π
Who is the owner of Eight & Four?π
Kate Ross is the founder of Eight & Four.
When did Kate Ross start Eight & Four?π
2008
What is Kate Ross's net worth?π
Kate Ross's business makes an average of $/month.
How much money has Kate Ross made from Eight & Four?π
Kate Ross started the business in 2008, and currently makes an average of .
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