Tips to Open a Marketing Agency

If you have a background in marketing, starting your own marketing agency is a great opportunity to have the freedom to work from home, and to make more money than you do working for someone else.
This is particularly true if you specialize in digital advertising, which is a rapidly growing industry. 

The first step to opening your own marketing agency is to learn about launching a business. Here we will offer some tips to help you get your new marketing agency off the ground.

Get Certified

When you’re just starting out, you’re going to need to prove your credibility. If you have a degree in marketing, you’re ahead of the game. You can also get certifications that show that you’ve continued your education and are up to date on current marketing trends and techniques. You can get a certification in digital marketing, for example,  from the Digital Marketing Institute in about 6 weeks for around $1,600.

You can also take other inexpensive courses on sites like Udemy to brush up on various skills. If you’re not already knowledgeable about SEO strategies, for example, that’s a valuable skill to have as a digital marketer. 

Understand the Market

First, you need to know your competition. Examine their services and prices, and then determine what you can offer and where you might be able to gain an advantage based on your skills. Perhaps your experience gives you an opportunity to specialize in certain marketing techniques and strategies. You’re looking for a way to stand out in the market.

Then, you need to understand your target market. Based on your specialization, what types of companies are most likely to need your services? You can even start putting together a list of local companies that you can call to offer your services. Of course, you don’t have to limit your customers to local businesses. Digital marketing allows you to work for companies anywhere in the world. 

Know What’s Trending in Marketing

You need to familiarize yourself with what’s happening in the marketing arena. For example, personalized marketing and content using data collection to create user profiles are in huge demand. Also, segmented content targeting different customer segments based on demographics and preferences is increasing.

As you look at what’s trending, you may find areas where you need to brush up on your skills. It’s important to have the right skills to stay current in a rapidly evolving industry. 

Create a Business Plan

Creating a business plan will help you to think through all the aspects of starting and running your business on a day-to-day basis. It will also be your guide as you move through the process. 

Your business plan should include:

• Executive Summary:  This is a brief overview of the entire business plan (write this after you build the rest of the plan.)
• Business Overview: Overview of the company, vision, mission, ownership, and goals.
• Product and Services: Describe your marketing services in detail.
• Market Analysis: Assess market trends as discussed above. 
• Competitive Analysis: Analyze your competitors as mentioned. 
• Sales and Marketing: Develop your own sales and marketing strategies. 
• Management Team: Overview of the management team, skills, and experience.
• Operations Plan: This is a logistical plan of how you will operate the business on a daily basis.
• Financial Plan: Three years of financial planning, including startup costs, break-even analysis, profit and loss estimates, cash flow, and balance sheet.

Market Thyself

This should be the easy part! You know marketing, so now you have to think of yourself as your customer. Start doing what you would do for a client so that you can get your business going. You get your own services for free, so you can be aggressive with your strategies. 

You also need to be a salesperson and make direct calls to potential customers. This is the best way to get clients fast. 

In Closing

Starting a marketing agency is a great way to take control of your future, and it’s not a difficult process. Just follow the tips provided, prepare and educate yourself, and start making money. You’re getting in on a booming industry, so the sky is the limit!

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