In this day and age, marketing and digital marketing agencies are thriving like never before. According to Statistica, U.S. media advertising revenue reached 228 billion dollars, and they are projected to further grow to 286 billion by 2024. This is also the case in Lebanon. So if you have the right mindset, intense passion, and suitable means for it, starting your marketing agency might sound like a great idea at the moment.
After all, what do digital marketing agencies do? Create ads and hand them over to clients; very easy, right? WRONG! There is much more to the industry than meets the eye. You are likely to face many obstacles while running your agency, offering digital marketing services, and attempting to make a profit as well as decent revenue. We don’t mean to discourage, we’re just being realistic. This is the case with any path you will choose. There’s a lot of time and energy put into every successful venture, and though we can’t advise on every one of them, we can however guide you through planning your marketing future. Here are 8 mistakes most digital marketing agencies make and our tips on how to avoid them:
1. Taking Huge Steps
So, you’re just starting and you notice that your marketing agency is getting a lot of visibility, and hence a lot of new clients. This can be very encouraging, however, always remember quality over quantity! Hiring a high number of employees is often risky for a startup, preventing you from making a profit, and so is taking too many projects with a staff that can’t yet handle the workload. This mistake can result in poor quality work and your business venture can go downhill before you know it.
2. Not Keeping your Clients in the Loop
Is your team doing an exceptional job advertising company A’s services? Good for you, now make it apparent, clear, and visible for the company! You want company A to know that they picked the best agency to do the best work, so keep them updated every step of the way, from the website design to the SEO process and content strategy and most importantly, good results!
3. Poor Management
It is the marketing team’s job to be creative, well-informed, productive, and professional. However, no matter how experienced and educated the people you hired are, you still need to implement good management in every aspect of your company. You want your services to be unique in design, content, and idea but also very effective when it comes to SEO and strategies. Also, it is crucial to use the right online marketing tools to boost your efficiency and thus, boost your profit. You can check our blog for the best YouTube business channel. Marketing/advertising is where art meets efficiency, focus, and good organization.
4. Not Having a Plan
Yes, this is quite different from having in-house management skills. Planning how to price up different services as well as how, when, and where these services/projects should be delivered to your clients makes the process smooth and fruitful.
5. Being a Copy Cat
You have to set yourself apart from your competition. Every other digital marketing agency offers SEO, social media, and marketing services. However, some offer decent services, some only have good results, and others deliver excellent projects. It is important to start with the right mindset, keeping in mind that clients must not only be satisfied and happy but also amazed.
6. Thinking it is Easy
Doing social media and marketing is not an easy business and not everyone can succeed in it. Dedicate your time and resources and go about it wisely.
7. Being Money-Driven
Of course, it is good to make money. Some would also argue that it is great and just the best thing in the world. You should aim for making a profit, but your other priority should be producing great quality projects that will satisfy you, your passion, and your client.
8. Over-Correcting Step 7
You have to find your profit-passion balance. Making an unprofitable pricing plan is also not the best decision to make. Make your client’s social media so profitable for them that they’ll pay more, thus making your business more profitable. It’s a win-win situation. Other errors can happen, and some mistakes are bound to happen. However, it is preferable to know what you might stumble upon, what to avoid, and the best solutions beforehand so you can spend your time pitching ideas instead of fixing problems.
Check our website for digital marketing strategies.