Business plan to set up a digital marketing agency
Digital marketing is booming, and digital media account for the highest growth in advertising investment.
Social media management, content marketing, web development, SEO, graphic design or video editing for online advertising are the most demanded jobs from marketing agencies and freelancers. On the other hand, there is a real demand and a broad market: SMEs and multinationals from different sectors, businesses, public bodies, entrepreneurs, professionals, etc. They need to a greater or lesser extent the services of a digital marketing agency.
Keys and challenges of a digital marketing agency
Without a doubt, we are facing a stimulating, creative and varied activity. However, the beginnings are never easy, especially if you do not have an initial portfolio of clients. Also, competition in this sector is extreme and varied: large and small, specialized or full-service agencies, internal personnel of the companies themselves or the dreaded intrusion that threatens this sector.
There are no entry barriers, and many people and companies believe that they can provide digital marketing services without exemplary professionalism and Training. The result is usually the provision of low-quality services at prices below the average, which harms the sector’s image and prestige.
Most demanded services
Digital marketing encompasses a wide range of services and areas of expertise, which we summarize in the following points:
● Web design and development: management of programming development and usability of corporate, institutional, product web pages, online stores (e-commerce), virtual catalogues, mobile applications
● SEO (Search Engine Optimization): web optimization, indexing and search engine positioning as well as other Inbound Marketing techniques
● SEM (Search Engine Marketing): design and management of ad campaigns and sponsored links in search engines such as Google Ads
● Web analytics: through the use of tools such as Google Analytics.
● E-mail marketing and CRMs: automated campaigns for loyal customers.
● Affiliate plans and campaigns
● Mobile marketing: Strategies for capture and conversion through mobile devices.
Hiring the team
A digital marketing agency must have different professionals who cover all specialities. The challenge is to surround yourself with a trustworthy team, generous in transmitting their knowledge, flexible and willing to continue learning. Correctly using and managing collaborative work tools is essential. Depending on the resources and the type of activity and expected clientele, you can choose your workforce or develop a freelance collaborator network.
The salary range of the sector is between:
7,000 and 12,000 INR for fresher
10,000 to 15000 INR for 1+ year experience
It depends on location, the experience of the candidate.
Regarding freelance work, it is possible to find professionals of all kinds. It is a widespread practice in the sector to stipulate contracts with a specific number of hours of dedication or specific tasks in exchange for a fixed monthly fee.
How to start a digital marketing agency? Step by Step
Starting a business of Digital Marketing Agency is not a matter of everyone. If a person has money to invest but does not know digital marketing, he should not do this business. And in contrast, if a person has digital marketing experience but does not have much money to invest initially, he can start this business on a small scale personally. So anyone who wants to create their own Digital Marketing Agency can follow the steps given below.
1. First of all, Get Training:
You desire to start Digital Marketing Agency knowing about digital marketing because even if you can’t rely on your employee. So unless you do not have a good knowledge of digital marketing, you will be unable to run this business, so if the person wishing to do this kind of business does not know of it, then, first of all, get digital marketing training or course from a digital marketing institute.
2. Job in an already running agency (Get Practical Knowledge):
- After completing a Digital marketing course or Training
- It would help if you found a job agency
- Must try And keep in mind that the person gets less or more salary whatever the job
- To join so that he can work in practice while working in that agency
- Could earn knowledge. And the difficulties challenges faced in this business
- After evaluating, he can make sure that he has to do this kind of business.
3. Evaluate Your During the job
It would help if you also kept evaluating the skills
4. Manage Finance & Arrangement
Now you should arrange finance. The central machinery used in this kind of business, computers, and other essential software will be used as tools, so in the initial phase, if you start with 3-7 computers, then the cost on all these devices will be 2-3 lakhs rupees only. The next main expenditure will be on the salary, office rent and Office Consumables paid to the employees. You will have to arrange the finance, keeping in mind about 8-12 months of expenses, including all the payments according to his plan.
5. Rent Office
The entrepreneur’s next step after arranging finance should be to look at the Office for his digital marketing agency. In the initial stage, you can also rent an old office which is already furnished. Initially, an office where 7-8 employees can sit, the entrepreneur can operate. While renting Office, make a lease agreement so that it can be used as address proof.
6. Search by registering agency name
Once you have finalized the name, you should check that that name is already registered.
7. Initially, you can register under Proprietorship:
Interested person should initially consider their company as proprietorship unit.
Some other point to be considered while you are starting a digital marketing agency
- Legalize your business (get your firm name and book a domain)
- Place your business on Google my business
- GST registration ( not mandatory)
- Issue a pan card on your firm name
- Open current account