Entrepreneurship has exploded in recent decades, thanks to advancing technologies and a general dislike for being told what to do by a boss all day. So, if you’re sticking it to the man by opening up your own marketing business: good on you! It’s a job you can do remotely in your underpants from a wooden cabin in the sticks (as long as there’s cell signal). Regardless of how you envisage your agency looking, you’ll need to do a few things before taking on your first client and starting to deliver top-notch content:
Source Your Talent
Whether it’s just going to be you in your digital marketing agency to start with, or you have the capital backing to employ a bunch of creative people immediately, your agency is going to need some talent. Graphic designers, copywriters, and other roles are vital in any agency – and it wouldn’t hurt if these creative types are also experienced in account management and customer relations. A good place to scout is on LinkedIn, but approaching recruiters specialising in digital marketing will also yield positive results.
Start Things Small
Wordstream suggests that professionals hoping to start a digital marketing agency should be “contractors before becoming founders”. In other words, you should consider starting your agency as more of a freelance operation and then moving into a full agency environment later. It’s not easy striking it out on your own, and many agency owners started their business while they were still working full-time jobs. Doing things this way minimises your financial risks while you build up your new company.
Build A Model
What is your digital marketing agency’s business model going to look like? A staggering 50% of digital marketing agencies base their operations on a flat-fee/retainer model. This is an ideal situation for most agencies as it ensures a set income at the end of each month. Other digital marketing agencies offer their services per-hour, per-project, and some choose to set their fees as a percentage of spend. However, you want to slice it, make sure you know how you’re billing before going after your first client.