Social media marketing is taking the world by a storm. The main reason for this is the small amount of investment required for a great ROI.
This has led to a lot of businesses taking an interest in this type of marketing through launching social media marketing agencies.
This piece is meant as a guide to help new businesses launch their marketing agencies successfully. So if you are someone thinking about it, you will hopefully be able to benefit from this.
Let’s get right into it.
Take account of your initial capital
businesses and especially the ones that offer a service, there is no one size fits all. Usually there is more than one correct way of doing things. You just have to find the one that is right for you.
In business, capital and the investment you have at your disposal are basically the factors that will dictate the business model you are going to follow and the one that will work best for you.
For example, the staff you are going to hire, the services you are going to offer, and generally the amount of work you can take on all are directly linked to the capital you have to invest and use for hiring.
If you are starting small, it is perfectly fine to take on lesser work. Maybe don’t offer management for all platforms. If you are the best at Facebook, maybe just stick to what you know.
Overcrowding your plate and biting off more than you can chew can lead you to a tricky spot from where it can prove very hard to claw your way back.
For a startup, reputation and winning the people’s trust is everything. Taking on work you can’t handle can prove to be humiliating and cause too much damage to your reputation. So make sure you are only promising what you can handle.
This will require meticulous calculation on your part, but you can do it!
Get the required licensing
The legal side of things is often overlooked in online startup guides. However, these are very important to legitimize your business and also win the investor’s trust. It proves to them that you are serious about the work and in it for the long run. Not to mention, it can save you a lot of complication in the future.
You will also want to look into what kind of structure your business is going to follow. Do you want to have sole proprietorship or are you looking into launching the business as a partnership between two parties?
All these questions might seem boring but they are incredibly important for clarity. Having answers to these will ensure that you are going in with a clear head and understanding of what your business is going to be like.
There isn’t much we can say about what kind of licensing you will need. It depends on the country you belong to and its legal requirements. This is research that you need to conduct on your own.
Make sure you have all the paperwork covered. Also, another thing to keep in mind here is to have backup in case things don’t go as planned.
By registering your business as a Limited Liability Company, for example, you can separate your personal assets from your business. This means that should things go wrong with your business, your personal property and assets will be safe.
It also means that your business won’t be able to boast great capital, but it is the safer thing to do. However, don’t rely on this article completely for advice on legal matters. Please hire professional help for legal advice and counsel.
Focus on quality
Now we come to the kind of work you should be focusing on in the start.
A lot of new businesses, especially those dealing with social media, advertise too many services. The algorithms beings used by social media platforms are getting more and more sophisticated by the day, audience targeting and post promotion are also becoming more focused.
Facebook and Instagram know when someone will be interested in a post.
They will only show those in the search bar. There are very few ways to make it into the search page on Instagram without knowing who you are targeting and creating content that caters to those people specifically.
This is why we recommend you focus on quality. That is what lasts.
Promising your client original content every day when you know you can’t deliver on that promise and create content that will actually help the business engage its target demographic, will do a lot more harm than good.
Your client is not interested in how much content is being put out. They are looking at what they are getting in return. Is there business page getting more attention and followers? Are there followers engaging with their posts? Are they relevant? And most importantly, are the posts leading to conversions?
These are all the main questions that the client will be asking themselves. Having a new post up on their page when it gets only 1 like and no comment, will not cut it for them. Therefore, the best way for you to retain your clients and build a good name for yourself is to deliver quality. It’s a tedious and long path but it’s the one that will prove the most profitable in the long run.
Test the waters first
While it is exciting to jump all in right from the start and leave a steady source of income for the adventure of starting your own business, it is incredibly risky.
The safest thing you can do to see if your business idea holds value and if you have the skill to make it work is to take on smaller projects as a side hustle first. Keep your 9 to 5, but also start advertising your service and see if you can get any clients.
Social media management is something which, if done at a small and controlled scale, can be done in the evenings or in your free time. It is definitely not as thrilling as launching a complete business, but it is much safer.
As they say, better safe than sorry.
With that we come to the end of this piece. While these tips definitely do not cover all that you need to do in order to launch a business, they will hopefully give you an initial plan of action.
If you are worried about the market being too saturated, don’t be. If there are a lot of services there is also an ever growing demand for digital marketing, especially social media marketing.
This is because more and more people are joining the internet now and there new platforms (such as TikTok) are gaining more traction. Businesses are also looking for creative ways to advertise and marketers are becoming more and more creative. While this makes the environment very competitive, it also makes it more challenging and exciting.
In short, there is always room for those who can think outside the box and who understand what they are doing. That could be you if you play your cards right and take it slow.
Social media marketing is taking the world by a storm. The main reason for this is the small amount of …