Starting an advertising agency is a lot like starting a firm in any other field. It takes courage, enthusiasm and guts to take the first step while starting any company. So, while it sounds all hunky dory to start a digital marketing agency, it comes with its own set of challenges. Let’s look at some of these obstacles and find a way to tackle them.
1. Taking A Pick
With a plethora of services under its wings, the digital marketing industry has a lot to offer. But which service should the company offer? This is an important consideration. Whether you should start a social media advertising agency or a 360-degree digital marketing agency? Should you focus on branding only or provide branding plus digital services? These questions and more need to be answered before you can start building a foundation for your agency.
To find a solution for this, you need to understand the market. More importantly, you need to understand the demand and supply of various digital marketing services. Study the market, the competitors, and the services thoroughly to be able to decide which kind of agency you want to start. Additionally, talking to industry professionals would also help you make an informed decision.
2. Managing Work With Maximum Focus
More often than not, startup business owners have another job or sometimes, even school, to deal with. Due to this, staying focused becomes another challenge for a new startup. Even the best of marketing strategies will fail if the team is distracted by other obligations.
The best and most effective solution for this challenge is to outsource and use technology. Thankfully, due to the ever-changing world of technology, several tools can help save time and energy. For example, a tool like Hootsuite can help with social media postings as well as ORM.
3. Brushing Up Decision-Making Skills
As a digital marketing startup, you would be extremely motivated to prove yourself, which can sometimes lead to jumping on every potential opportunity. If your team is small, this can turn out to be a big issue as well as a distraction.
The easiest way to tackle this challenge is to consider whether the opportunity adheres to your target market and your brand guidelines or not. These kinds of decisions at the start of your venture can either make or break your team.
4. Working On A Budget
Startups, digital or otherwise, work on a tight budget. Every penny spent is reported to the investors. This is usually deemed as a challenge by a lot many startup owners because marketing costs money. How can you overcome this?
The most effective way to tackle this issue is by focusing on free resources for marketing or cost effective marketing tools. Businesses today have the advantage of having free information at their fingertips. If you have any questions about digital marketing, you can spend a little time on Google or any other online portal to find out information.
If you don’t have time to do it yourself, get a laser focus on your target market or hire a freelancer to take on some marketing tasks.
If you have an apt decision making skill, the right team in place to take opportunities head-on, and the fortitude to make it through the tough times, your startup can overcome all challenges and become successful.
Do you know any startups, who have reached the heights of success while overcoming all the obstacles? Let us know in the comment section below!