If you wanted to create a marketing Agency more than 25 years ago, the barrier to entering this market was very high. With a primitive digital landscape, the overall cost of creating such a business was not easy and almost impossible without an initial investment. In addition to the launch costs, you were limited by physical and traditional media, and consequently with headaches associated with their production and placement, which was not always profitable for your customers due to the individual nature of their requests for such things.
Therefore, it was inevitable to be “in the red” for a very, very long time.
A lot has changed since then. Especially when it comes to technologies for delivering information to the target audience and opportunities for international service delivery.
Nowadays, it is possible that even one qualified specialist or a small team can create a full-fledged international marketing Agency from scratch within a limited period of time.
Stage 1: Develop the necessary skills
If you are a narcissist with grandiose plans to conquer the marketing world and have just graduated, you will most likely fail miserably.
You can be as creative and smart as any other participant in the game, but if you are not mentally prepared for hard, painstaking work and are not experienced enough to handle the many nuances of managing accounts and customer relationships, then you will most likely need a second try.
It is a pity that this attempt is not always possible.
Stage 2: Become a product supplier before becoming a founder
A job that pays well and allows you to earn a lot without long years of life is either a crime or a gift of fate. However, many of us who have high-paying jobs take this for granted.
Anyone who would like to plunge into the world of self-employment has a huge list of risks that can immediately arise.
The skills that allow you to remove or mitigate most of these risks come with experience and, in fact, create the basis for an independent business.
Stage 3: Develop the only correct business model
There are many different ways to create a digital marketing Agency. The services you provide and how you pay for your work become an important part of managing your business effectively over time.
Many consultants prefer to issue invoices to their clients on an hourly basis. This is due to the fact that most of the time they spend with clients one-on-one, on the phone or in person. This payment model becomes burdensome due to longer and more complex service negotiations.
Fluctuations in the hours spent on digital marketing for a particular customer can vary widely. There are several factors affected; creating and launching brand new campaigns or promotions, restructuring accounts, time spent on calls, and maintaining what works well for them.
It is gradually becoming difficult to say that I have spent “X” hours this week, so here is your bill. This can also make the customer cautious if they start to doubt how much time certain actions take per week. If you do not offer one-on-one advice as part of your service offer, we would advise you to opt-out of the hourly billing model.