If you've had any success with digital marketing, you may have considered creating your own agency. This could mean bigger projects, higher profits, and better clients. It also means generating more revenue than you can on your own, and leveraging the efforts of others to increase profits without corresponding workload growth. But is there a demand for the type of digital marketing agency you want to create?It's not always easy to determine if there is a demand for the services you offer.
For example, you could focus on a channel that Gartner identifies as an “Innovation Trigger” (e.g., SEO). When we launched our agency, we did so because the specific SEO and digital marketing practices we used were different from what others were doing in the space and were producing results. This gave us confidence that we could deliver on the promises we made to customers and do so thanks to our innovative approaches. Simply wanting to earn more money than you can on your own isn't a convincing differentiator. Fortunately, there are many ways to differentiate your agency.
You could specialize in applying a particular digital marketing channel to a specific industry, or leverage existing digital marketing techniques in new ways. Your team could be your differentiator, or the size of the companies you decide to work with. Regardless of how you decide to specialize, make sure you can back up any claims you make with real results. If your competitive differentiator is hypothetical, try it before you start selling it. When creating an agency, it's important to remember that growing a team comes with its own set of requirements.
You'll need to navigate legal employment structures, develop internal hierarchies, recruit team members, train them, and dictate discipline as needed. If you've developed your career in digital marketing, shifting your approach to hiring and managing can mean learning a whole new skill set. Sure, if you're a strong enough seller, you can get some smaller contracts right away. But getting the big names whose logos you'll be proud to put on your agency's website can take years of committed effort. What was once an acquisition just for a strategic competitor has become a breeding ground for everyone outside the digital marketing space vying for a piece of the pie. Since your digital marketing business has the unique ability to offer multiple digital marketing services, there is a good chance that you can benefit from those multiple services.
For example, when our agency launched new digital marketing offerings, we were able to extend our services beyond our community and introduce new solutions to our existing customers. By employing social media marketing, we were able to spark interest in our books which were then available in digital formats as well as engaging in conversations with old and new fans about upcoming stories. With our Google Premiere partnership and expanded search engine marketing offerings, we were able to increase our quarterly investment in Google ads across our customer base. Your reasons for selling your digital agency are never judged but they are important for understanding how things should be evaluated and considered as a proper buying channel. From comprehensive growth assessments to strategic positioning and personalized market intelligence, there are many factors that need to be taken into account. The Digital Marketing Training Group training program is NOT a get-rich-quick program and making money doesn't happen overnight with little or no effort. This particular result can be exceptional and the variables that impact results are so numerous and sometimes uncontrollable that Digital Marketing Training Group LLC does not guarantee your income or profits of any kind at any time. As digital agencies began to become more sophisticated and established, buyers realized that the industry was here to stay and this changed the buying and selling dynamics of digital agencies dramatically.
Inbound marketing was all the rage and if done correctly it created an endless flow of leads for customers. Compared to other companies of the same size and risk portfolio, digital agencies are excelling when it comes to profits. Understanding whether or not there is demand for the type of digital marketing agency you want to create is not always clear cut but I suggest checking out a YouTube video on How To Make Money With Digital Marketing from our experts to get started.