“TFM started as a favour for a friend, and we’ve grown from there, mainly through referrals,” Taylor Fielding, CEO of TFM Digital, told Mediaweek as it celebrated its third anniversary.
In the last financial year, the independent agency has grown 42%. Fielding said that while launching the agency at the height of the pandemic had its challenges, the demand in niche media services for franchises and local area marketing developed.
As the agency marks its third anniversary, Fielding shared reflection on TFM Digital’s journey and changes, leadership style, advice for upcoming talent and the year ahead.
Image supplied: Taylor Fielding presenting at National Franchise Convention 2024 in Cairns
MW: You recently celebrated your 3rd anniversary, what’s been the biggest change over that period?
TF: “I think it was Steve Jobs who spoke about the importance of what you say no to. And we’ve learned from experience it’s one of the hardest things. In the past we’ve set up video or design departments, as we had been asked by one client for these services. But we know we’re better at media planning and buying. And now we’re confident and clear in the vision that this is our area of expertise. We don’t need to be full service for anyone.
“Trust in your people and the process. We started as a specialist, and today even more than when we started we’re living that purpose and vision.
“We’ve got another whole team away weekend planned for September, to ensure we’re revisiting our purpose of building better connections for businesses, and how we realign to ensure we’re on track.
“And then it’s about investing in our people. We have a number of development programs for all levels of staff.
“One which I’m most proud of is our Leadership Pathways where we will offer employee share ownership plans (ESOP) for those people who continually smash targets and without whom our business would not be the same. You need those who will travel through the best and worst of times with you, which is why Warren Buffet has had the same 25 or so people working with him at Berkshire Capital since the 1990’s.”
MW: Where do you draw inspiration from?
Taylor Fielding: Remaining curious. Believe it or not, I used to sail competitively back in the day. I love the strategy, switching tactics to gain the most of the environment you’re all competing in, it’s cut-throat outside of the boat but completely the opposite in it. That us against the world mentally really stood me in good stead when first starting out.
“And I remember I was always fascinated by the sponsorship side of things in sailing which bled into other areas of sport sponsorship given how much our country and society is dominated by it. I wanted to understand the metrics at work that influenced the value within the industry, unpicking it all with a childlike curiosity.”
Image supplied: TFM Digital team celebrating Book Week 2024
MW: What (most) informs your leadership style?
TF: I’d say, appreciating the value of communication.
I’ve worked in and for bigger companies that rule with an iron fist, dictating how things should be done. And by the time the news of a new process filters down to you, there’s no context for the why. If one approach has been dropped in favour of another, it could have been that one was unsustainable, or there were financial pressures, but people don’t like being told to do something unless they understand why.
I aim to make everything a little more open at TFM. We have an open plan office, where I can base myself within the team to be aware of what’s happening, and get the chance to celebrate wins as well as help with any potential bottlenecks – especially if I’m one of them!
We aim to have clear lines of communication, with a more horizontal structure where decisions are made at the most appropriate level. It’s a two way dialogue as well. We ensure that big decisions are made as a group, as the team’s input is vital to our collective success and the journey of how successful new ideas/initiatives will be. One example is our monthly and quarterly planning cycles to develop personal and biz dev goals.
Through intentional process design, we’ve built a psychological safety net for people to ask questions and to make mistakes. All of which is not possible without awareness of how you and others can potentially impact the lines of communication, sometimes even unintentionally.”
MW: What are not enough people talking about?
TF: Without a doubt, it has to be Local Area Marketing.
And it’s for good reason, a lot of it is unsexy, and it’s hard. There are no quick fixes. I feel we often gravitate to the easier stuff, but you need to roll your sleeves up, test and iterate.
The evolution of automated tools allows us to become more productive within brand marketing. Yet the application of marketing intelligence is often not filtering down to other areas like store fronts of our Local Area Marketing (LAM). Research shows that 75% of current budgets, without a view on attention metrics, are going to waste. Much like the letterbox marketing campaigns of old, now Meta and Google have created digital skip bins of wastage.
We are measuring more, but are we more measured in our approach? Are we applying the learnings from these insights?
Ultimately it’s an untapped beast which can deliver, but right now many continue to shovel money wastefully, as they don’t have the necessary guidance on how to be more effective.”
MW: Advice for the next generation of talent coming through?
TF: Don’t settle too early. I’d say expose yourself to as many different disciplines as possible. Our industry is fragmented, and we need to make sure we become fragmented in our skillset.
I’m probably biassed, but you should work in an agency to gain the most exposure to different ways of working. Moving in-house for slightly more money early on, will leave you without access to a wider range of experience. I’ve known friends who moved into one channel early, and ultimately regretted it, as they’re finding out that specialising (when it comes to channels) is becoming harder in media.
You need that holistic viewpoint, as the marketers and brands you deal with will not be compartmentalising. Make sure you excel in any role by adding value, becoming unsackable, and the quickest way for me is by being multi-disciplinary.”
MW: What’s in store for the next 6-12 months?
TF: Exciting times I feel. For us it’s looking at expansion. We’ve bolstered our Brisbane team with the hire of Tim, our new GM, so I will have more time to dedicate to the Sydney and Melbourne markets.
We’ve been saying it since we started, but getting closer to our niche/category is paramount. So spending the time ingraining ourselves further into franchising, which means going to more events, speaking with people. I’m going to be hosting a panel at Franchise Council Australia’s Victoria state conference next month, looking at Marketing in a Digital Age.
At an industry level, I hope there’s going to be a greater focus on Local Area Marketing, as I know it can really change a brand. If you’re able to empower and offer agency at store / franchise level with that invaluable local knowledge, honouring the brand voice/pillars etc, I think you’re on course for fantastic results. It can really deliver against your bottom line – you heard it here first.”
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Top image: Taylor Fielding