As the world has evolved technologically, so too have the ways in which we market our businesses and communicate to audiences. Social media has quickly proved itself to be an effective channel for marketing products and services, and ultimately, converting customers. This being the case, social media marketing has become a ripe field for those interested in marketing effectively.
Social media marketing agencies are becoming a staple in today’s marketing landscape, and as such, those interested in creating marketing agencies are beginning to focus more on social media channels. If you’re interested in starting your own social media marketing agency, then having some guidance can make it easier to navigate the process and get your business up and running.
Why Social Media?
Before creating your own social media marketing agency, it’s important to understand why social media is such a powerful marketing channel.
One significant reason that social media is becoming a popular marketing channel is the staggering number of users on various platforms. In 2019, it was reported that over 3 billion people actively used social media, and this number is only increasing with time. As such, social media provides an opportunity to market to a vast array of individuals.
In addition, studies have found that the typical social media user is spending approximately two hours a day on the platform. The breadth of social media users combined with the time spent on social media platforms makes it clear why it is such a powerful space to market products and services.
Another important factor that makes social media such a powerful marketing channel is the fact that studies have shown that approximately nine out of ten social media users connect or engage with the brands that they see on social media platforms.
Since the users on various social media platforms are highly likely to engage with brands that they see on these platforms, this makes them more likely to be converted when coming into contact with marketing efforts while using social media.
Tips to Get Started
Once you’ve decided to start your own social media marketing agency, having some guidance can make the process a lot easier. Though this process and journey will look a little different for each individual, there are some tips that everyone can apply to help make the process of creating a social media marketing agency easier.
Decide Your Agency’s Concentration and Niche
The world of social media is vast and there are many platforms to choose from. When starting your social media marketing agency, it’s important to be clear about the platforms that you’ll be focusing on.
Different social media platforms require different types of marketing efforts. While short, quirky videos may perform well on TikTok, artistic photographs may perform better on Instagram. As such, it’s important to know which social media platforms your agency will concentrate on.
Though it is possible to be an agency that provides marketing services on every popular social media platform, this could result in spreading your resources too thin — especially when just getting started. This being the case, it can be enormously helpful to narrow your concentration and focus on one or two social media platforms to start with.
In addition to deciding which social media platforms to focus on, it can also be helpful to find a niche to make your services more unique and specialized. Finding your niche can take many different forms and depends on where you decide to focus your energies.
You may have an interest that you’d like to explore, such as coffee, and as a result, aim to specialize your services in coffee shops and roasteries. Exploring your personal interests and expertise is a great way to land on a niche that aligns with your values.
Another way to explore niches is by doing market research and looking for whitespace in the marketing landscape. By finding a marketing niche that hasn’t yet been explored, your agency could have an easier time becoming a force within the industry.
Whatever concentrations and niches that you decide to explore, it’s important that you have clarity about these aspects of your agency from the outset. Being clear about these parts of your agency will make it easier to grow and develop into a successful agency.
Craft a Thorough Business Plan
As an entrepreneur, it’s more than likely that you’re excited to rush into creating your new agency to bring your vision to life as quickly as possible. Unfortunately — in most cases — this can be a recipe for disaster. Before launching, you’ll need to craft a thorough business plan that outlines the trajectory of your social media marketing agency.
Business plans act as a map of how your business should function and grow. Without crafting a business plan, your agency will likely have more difficulty navigating the launch and growth of the company.
In addition to a lack of clarity about the trajectory of your company, not having a business plan will make it close to impossible for you to generate outside investments in your business. A business plan will lay out the why and how of your business’s success. If investors are unable to see how your business will be profitable, they won’t be likely to invest in your social media marketing agency.
If you’ve never had experience crafting business plans, it may be a good idea to elicit some help. Professionals with experience writing business plans can help you craft a document that will both act as a blueprint or map for your agency’s success and as a persuasive argument for investors to invest in your idea.
Finance Your Agency
Though some entrepreneurs may have some money saved for entrepreneurial ventures, many will likely need the help of outside investors to help bring their agency to life. This being the case, it’s important that you secure enough funding before embarking on your journey of starting a social media marketing agency.
As has been mentioned, a business plan can be extremely valuable when it comes to securing funding for a business idea. Though you may be enthusiastic about your idea’s ability to have an impact in interesting and novel ways, it’s important to remember that investors are primarily interested in making their money back and then some.
Though it can sometimes be difficult to put oneself out there and ask for help, it may be what you need to do to secure funding for your social media marketing agency. Whether it’s friends, family members, colleagues, or classmates, you can greatly increase your chances of securing funding for your agency by asking around. Chances are, someone that you know is connected in some way to someone who could potentially fund your social media marketing agency.
Though you may feel like you’re capable of building a social media marketing agency all on your own, eventually, you’ll need the help of others. As such, it’s important to recruit talented individuals who can help you bring your vision to life.
Though the exact types of individuals your agency will require will vary depending on your concentration and niche, it’s safe to assume that you’ll need a mix of creatively and technically talented people. Finding individuals with experience in similar industries and positions can give your social media marketing agency a better chance of succeeding and running smoothly.
One of the most important parts of running a successful social media marketing company is finding clients. You could have the most effective marketing agency in the world, but if you have no clients, then this won’t matter.
Having strategies in place for outreach can make a huge difference. In addition, once clients are found, it’s important to maintain a good relationship with them so that they continue to utilize your marketing services. This can come in many different forms, but typically it will involve keeping clients in the loop about projects and communicating clearly about goals and processes.
Getting clients can be difficult at first, but it’s important to remember that the process will become easier with time. The more work that you have to show, the easier it will be to get new clients to place their trust in your agency and hire you for campaigns.
Bring Your Vision to Life
Though it can sometimes be scary to try something new, starting a social media marketing agency can be a fulfilling and valuable experience. The more challenges you face during your journey of creating a new marketing agency, the more capable you’ll be of being a great social media marketer.
Rather than mull over the obstacles that you might face, take action and watch your dreams of starting a social media marketing agency become a reality.
About the Author
Ryan Ayers is a researcher and consultant within multiple industries including information technology, blockchain and business development. Always up for a challenge, Ayers enjoys working with startups as well as Fortune 500 companies. When not at work, Ayers loves reading science fiction novels and watching the LA Clippers.