10 Essential Tips For Digital Marketing Agency Starters
So you’ve decided to start a digital marketing agency? Starting a business isn’t easy, especially in a constantly changing industry such as digital marketing. Whether you’re a one-person team or a larger operation, here are some essential things you need to know to get started.
Let’s Begin With The Finance Side
Tip #1: Have A Physical Budget Layed Out For The Next 12 Months
Do you think professional football players go out on the field without a game plan? The budget is your agency’s game plan. You need to map out real numbers and know absolutely every one of your expenses. Knowing your costs and average revenue will help you have a clear vision of what you’re going to be striving for.
Tip #2: Keeping Debt & Overhead Low
When you’re starting a business, it’s pretty easy to fall into debt without even realizing it. You probably want to have the latest equipment and the most modern gadgets. In reality, these are just generating unnecessary expenses and building up a debt that can easily drown your agency.
When you keep expenses low, you’ll be able to have your revenue go into your pocket instead of using it to pay bills.
Tip #3: Don’t Hire An Unnecessary Amount Of Employees
Hiring someone else to do what you can creates unnecessary risks and expenses that you can’t afford to have right now. If you do decide to hire someone, set expectations. Set goals. Have them proof that they are a smart investment.
Tip #4: Price Logically & Affordably
The most common mistake beginners make is overpricing their services when they have no material to back up their work.
Set a small goal for the first month and increase it as time goes on. It doesn’t matter if you have only 4 clients and are charging them $200 for service because they’ll eventually become proof of your work.
Let’s Move On To Operations
Tip #5: Stay Accountable By Using A CRM
Entrepreneurs tend to have a lot going on. This is when a CRM comes in handy.
A CRM helps you stay accountable. For your sales process to run smoothly, you need to keep track of leads, organize your calls, and keep your interaction with clients and potential clients organized.
Tip #6: Have A Good Check-Out System
Sitting around waiting for your clients to pay you certainly isn’t a reliable system. You have to prioritize having an effective check-out system that will save you the hassle of sending monthly bills and waiting for the payment to reflect on your bank account.
Tip #7: Don’t Be Afraid To Over Communicate With Your Clients
Communication with clients is one of the most important tasks. Schedule weekly meetings and status calls to let them know how things are going and listen to what they have to say about the results and service. Clients can take your silence as a sign of noncommitment to their brand.
Tip #8: You Have To Invest ALL Your Time
If you want your agency to grow, it’ll take you more than just working a couple of hours a day. Being your boss doesn’t mean that you don’t have to invest all the time you’ve got into running your business and make less effort than others.
Commit yourself to your agency. Work hard, even if it means spending 45 to 50 hours a week making calls to clients. Those calls will pay back as revenue.
Final Tips For Amateur Marketing Agency Owners
Tip #9: Know Your Product
Have you ever been to a computer store and noticed that the salesperson you’re talking to knows absolutely nothing about computers? Would you trust them to help you choose one? You have to know your products to sell them and make clients trust you to do the job. There are free resources online where you can learn PPC, SEO, etc., so there’s no excuse!
Tip #10: It’s Not A Race
Keep in mind that you will depend on this business during your entire life. Aim to build one that has value. Of course, it won’t be easy, but it’ll be worth it. Please don’t make it about hitting a million-dollar revenue at the end of the year but about having month-over-month growth.
Get Started With Your New Agency!
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