How much does it cost to start a digital marketing agency
When we say Digital marketing Startup I would think that you are referring to Digital Marketing Consultancy Company.
What will be the work of this company? To Establish and maintain Digital Marketing for the clients.
What do you need for that?
- Expertise in Digital Marketing – Knowledge – Need highly skilled people
- Website Development Tools (With a computer each, this shouldn’t be a challenge)
- Creative Design Softwares (This is also skill based, so only you would require couple of designers with necessary tools)
To run a full fledged company, you would need people, high-end computers, servers and an office space.
Since most entrepreneurs start small and rely on their own capacity, all that you would need is a computer, you can work from home over and above digital marketing expertise.
Roughly 10-15 K (for computer, tools and other Expenses) is what you need to start, during growth you need to hire people and buy Digital Infrastructure for them, the cost depends on your dream and team.
We Digitallydiv Agency( Started in 2016), began our Journey with just 2 Macbook , some tools and Internet Of course. My partner & I started working from Home as we started small.
Business plan in the key! You can start with smaller Budget
For a startup where cost is a very important factor, you can start with a very small budget and then revise it as per your requirement.
How much you required depends on your business plan.
If you want that you require at-least 2-3 Employees/ freelancers (If you already have number of project in your hand because of some good contacts) and a big office and you purchase good number of paid tools then you required a big amount of around $50-70 K.
And if you want that as of now you want to start with yourself only with single project and a your own website from your home without purchasing any paid tools (No Paid tools might slow down your business growth) initially then you can start with 10k to 15k (website development cost , ads costs, SEO costs and so on)
How to Start Your Own Digital Marketing Agency in 2021.
It’s best to start with One Or Two services
Many new agencies make the mistake of trying to be a full-service firm or “one-stop-shop” from day one , where anyone can get anything.
The problem is unless you have significant financial backing and a big team you are going to spread your resources and capital too thin trying to sell and then deliver all of these different services.
We started off our Journey in Digital marketing with Social Media Marketing and FB Ads Management.
Now our Business goes beyond and we offer many more services such as conversion Ready WordPress New Website Builds, Local SEO, Copywriting, Social MediaAds and Content Management, and many more Marketing services for service-based Industries.
Define Your Niche:
There are countless advantages to focusing your services on a clearly defined niche. Here are a few of the most notable: It makes on-boarding easier, It strengthens your skillset exponentially, and It gives you a competitive advantage.
At Digitallydiv Agency, we only work with Professional Service-based Industries.
Manny & I have turned down few E-commerce businesses that came along because that is not our expertise and we won’t be doing good there.
So, be an expert in one niche or two at the maximum. Don’t be Jack of all , master of None!!
We are passionate about helping the service industries grow especially businesses like Vets, Dentists, Law Firms, Luxury Realtors, Business Finance, Property Finance, Interior Decorators, Life/Business coach, puppy-school, Dance Schools, Accounting & Bookkeeping and many more service based Industries, you name it!!
Know your numbers-Google Analytics should be your Bestie..
To be successful, you need to have an extreme amount of clarity around what you want and what it’s going to take to get it.
While you aren’t going to see the entire path to your goal, you do need to know exactly how much of your product or service you need to sell, what it’s going to cost you to sell that much and exactly what it’s going to cost to deliver.
SEO: Get Your Website SEO Sorted , because SEO is one of the most vital stuff to rank on google and most businesses ignore it during the initial days.
So, get it right from the beginning. Get to know Google Analytics and Google Search Console these are the tools that Google offer free of charge to know many things about your website performance.
Create process behind everything
An agency can’t scale without systems and procedures in place for every aspect of the operation.
It is not enough to hire talented people and expect them to just know what to do with minimal guidance.
Processes: DivDigital Agency Web Design Process.
This is an incredibly important aspect of business since procedures explain in detail how tasks are done.
A constant emphasis on making them better and more effective will dictate how good the results will be.
If you focus on the right processes, you will make your way to success in the right way.So far so fine, but what is the intention of the process?
Can’t we just work it out each other and, as long as the result is close, call it good? You may, of course, but we would strongly advise against that.
One of the key goals of the implementation of the mechanism is to ensure continuity.
A successful process is like a checklist that guarantees that the right people do the right things at the right time. Processes dramatically minimise the risk both from the point of view of your company and your customer.
Sales trump everything
No matter how big your team becomes, you will always be in sales. Even once you have a room full of salespeople selling for you, you will still be your best salesperson, and make no mistake about it, you will always be selling Everywhere You Go.
Always have a sales mindset.Sales is Everything
Over and over I see a pattern repeat itself in startups relating to sales. Do they have the skill or not?
Yes, selling is a learned skill. It is euphemistically referred to as “business development” or “customer acquisition” or “customer relationship” but Bottom Line is it’s sales. Without sales and net profit from it, you don’t have a business.
Make sure that you carry out all Kinds of Marketing Startegies to get more Sales be it Traditional and Digital.
Grab every opportunity to network
Don’t forget to promote and brand yourself
We brand Ourselves and our Business like nothing else, we even tell our clients branding is so significant just to keep up with it.
Treat yourself as one of your own clients. Your business can’t grow if people don’t know who you are.
You must be branding yourself, networking, Running FB and LinkedIn groups and making a case study out of your own success.
Many times we are spending so much time working on our clients’ brands that we neglect our own. Always make time for building your own brand. In the long run, it pays major dividends.
Many small businesses make the mistake of overlooking branding efforts because they think of themselves as a business and not a brand.
Brands, they think, are the big fish in the pond with huge budgets and national recognition.
Resigned to their supposed small-fish status, small businesses do little more than come up with a fun logo and some flashy business cards.
But branding is important for businesses of all sizes because it increases their value, gives employees direction and motivation, and makes acquiring new customers easier.
Here are 5 reasons why branding is important for your small business.
1.Branding Improves Recognition
2.Branding Creates Trust
3.Branding Supports Your Marketing Efforts
4.Branding Motivates Employees
5.Branding Generates New Revenue
Know your Customers:
Get a deeper understanding of your customers. Google Analytics gives you the free tools you need to analyse data for your business in one place.
Get your self knowledgable with google analytics and learn to read the various stats and analytics.
Get insights only Google can give. Access Google’s unique insights and machine learning capabilities to help get the most out of your data.
Connect your insights to results.Google Analytics is built to work with Google’s advertising and publisher products so you can use your analytics insights to reach the right customers.
Make your data work for you. Process and share your data quickly with an easy-to-use interface and shareable reports.
Use Psychology principles for your website
Website optimisation isn’t just about tricks and hacks! Agree, there are many tactical ways to improve your conversion rate: test your CTA button copy, test a shorter page, change this picture, make that button bigger…and so on…
However, if you don’t understand the more strategic side of things – The Psychological Process That Goes Into A Winning Website – then your website optimisation efforts are just a theory/Speculation.
Here are Seven psychological principles that will help you make your offer more persuasive – and turn your Conversion into a conversion Gen Machine!!
Over to You..It’s your Decision
If you’re reading this Article, you’ve either already ventured out on your own or you’re thinking about it.
My key recommendation is to make a decision and stick to it.
Managing your own Service Business has a lot of ups and downs to it and you’re going to have to be able to weather the storm to reap the rewards.
It’s a dramatic life case, and you’ve got to handle it like that. If you feel early like you’re not cut out for it then don’t drag yourself any longer than you have to.