A social media agency is a social media service business and company that offers social media services like:
On behalf of the company, the agency is giving services to.
According to Statista’s international report about Global Social Media Advertising Spend, Ad spending in the Social Media Advertising segment is projected to reach US$98,984m in 2020. Ad spending is expected to show an annual growth rate of 6.5% (2020-2025), resulting in a market volume of US$135,384 million by 2025.
Above mentioned stats reveals the business potential for social media marketing agencies. You can use your social media skills and earn a lot of money from this huge market.
Passion is your inner voice and love. Passion is something that you love to do like a hobby. If something is your passion, you will not feel exhausted doing that even for sixteen to eighteen hours. Before you decide to start your social media marketing agency you must know – what is your passion? What do you love to do? This way you will never get bored. You will enjoy your entrepreneurial journey.
Without the required skills and knowledge you can not achieve your full potential. Since you have identified your passion as a social media marketer, now it’s time to acquire the required skills knowledge for running a social media marketing agency. Here are some videos that can help you (hyperlink Dankash social media skills videos).
”A goal without a plan is just wish”. Before doing anything take your notepad and write your complete business plan to build a social media marketing agency. Launch your business on paper, before you launch it in the market. Read the following guidelines and create your plan.
Ask yourself the very first and most important question – what problems you want to solve as a social media marketing agency. Identify gaps in the market where you can enter with your services.
S – Strengths (I’m expert of social media campaigns, I’m a good creative writer).
W – Weaknesses (I cannot handle business communication with the public).
O – Opportunities (Pakistan’s business are adapting digital business models. New startups are appearing in Pakistan that can be my target audience. New startups need economical social media services). Rates of existing marketing agencies are bit high.
T – Threats (There are a lot of experienced social media agencies in the market). I have very low investment. I have no investment.
Before you jump into the market do your SWOT analysis. Examples are mentioned above. Now, strategize your plan accordingly. For example, if your competitors’ rates are high, you can keep a bit low to attract new customers.
Remember, until you know your competitor, you cannot devise a strategy for your business. Since you know your services and target audience, enlist your competitor accordingly. Analyze their services, their pricing strategy, their packages etc, and set your pricing accordingly. Keep in mind, setting your price is just playing with the first. So, be vigilant and realistic while setting the price.
Since you know the gaps and problems in the market. Now, offer the solution accordingly so it can relieve the pain of your customers. Don’t try to offer the misfit solutions. First diagnose pain of the customers, then offer the remedy in the form of services.
“You can’t hit a target you cannot see, and you cannot see a target you do not have.” _Zig Ziglar
All your efforts will go wrong if you don’t know your target audience. You must know to whom you will offer your services for example startups, schools, colleges and food business etc etc.
When we say “Social media marketing services” it’s a wide range of services that you can’t handle from a single platform being a small business owner. You must define the scope of your services for example your ABC Social Media Marketing agency will be offering “facebook marketing services. Or you will be offering content-writing services too etc.
Name is the face of your business. The easier and catchier is your business name, the more attention you will gain. Choose a short, simple, decent and catchy name for your business. While thinking of your business name, keep in mind you have to acquire a domain also. Since .com domain is a challenge nowadays, so try to create a blended name by combining two words/adjectives. So that you find a .com domain against it easily.
Since you are going to build a social media marketing agency, a domain is must for you. Don’t think of a business in today’s digital age without a domain.
Think of a gorgeous girl who is wearing beautiful Jewellery. Digital and marketing assets are like jewellery for your business brand. It includes, Logo, Business Card, Facebook Cover Page, LinkeIn Cover Page, YouTube Channel Art, Website Logo etc etc. Anything that will represent your business brand physically or digital is your digital and marketing assets.
Presence of your agency on all social media is must. Create your agency’s pages on all famous social media platform line facebook, instagram, Twitter, Snapchat, YouTube, LinkedIn etc.
Use social media management tools (hyperlink article – social media management tools)
To best manage your social media marketing agency, use social media marketing management tools to automate your things and save your precious time that you can use on your business development and expansion. Read our latest article (Social Media Marketing Management Tools)-Hyperlink
To build the worth of your startup, register your company as:
As per your business plan and long term strategy. You can consult with your mentor and do it yourself or take services of a lawyer.
Open bank account of your business. It will strengthen your authenticity.
Get your national tax number. In future, when you will scale your business, all your documents and tax things will strengthen your business.
Intellectual property of your business like business name and logo etc are your property just like your own home registered with the government. Get your intellectual property registered with IPO Pakistan(Hyperlink).
A startup or a new business is just like a baby which needs a lot of care and consultation. If you are new to the business world, engage a mentor or advisor with you. You request your senior friend or a professional from your acquaintances. They can guide you on your important decisions.
“Together everyone achieves more”. Most of the successful companies are successful because they have great teams. And many of the companies fail because they failed to build a team. You can be the sole owner of your company but take a co-founder for a long and adventurous business journey.
Your business kit is ready, create your business launch plan. Schedule a launch party with a minimum budget. Invite your family, friends and social circle to spread the word and tell them about your social media marketing services.
Initially, you can run your social media marketing agency alone with a couple of virtual assistants but later you have to hire a team to expand your business. Keep your approach wider and think big. Don’t try to take all the money and credit alone. ”An individual wins a game but a team wins the championships”.
It’s time to take action. Dankash wishes you best of luck for your business. Share your feedback or as for further help at firstname.lastname@example.org
You can also watch the complete Video on “How to start a Social Media Agency”
Dankash wishes you the best of luck with your venture!