There are lots of different ways to approach a marketing agency. How you balance your time between clients, marketing, and business development will dictate how effectively you manage your business. The way you structure your budget and how you bill for the work you do become an important part of how successfully your firm is managed over time as well. A business plan is the key to making sure your company gets all the marketing it needs without straining your budget in the process. As the plan holder of a marketing agency, there are many ways you can keep the agency on track while running it in an efficient manner.
The first way a digital marketing agency can manage its business wisely is to keep a tight focus on the number of clients you have rather than trying to take on too many at one time. While it is possible to make money with a digital marketing agency, the best results come when you have only one or two clients, rather than dozens or hundreds. If you want to get clients, try to limit your initial marketing agency workload to three to four clients at the most. This will give you the chance to build up relationships with these potential clients as well as allow you to concentrate on what it is you do best.
Another smart move to help your digital marketing agency stay on track is to maintain a steady balance between hiring new talents and letting older, more experienced professionals go out of business. Many agencies choose to take on new clients when they show potential in the hope that the new talent will bring in a lot of new business. However, by keeping a strong focus on letting the experts go when they aren't doing their jobs, you can preserve a good balance between the number of clients you have and the skills of each of your staff members. This is especially important if you have a tight budget but need to hire a lot of people in order to keep up with the competition in your niche.
By allowing your SEO, social media, and PPC specialists to go for the kill with their initial clientele, you can make sure that you don't leave any valuable resources on the table. For example, if you're a digital marketing agency that focuses on sports cars, you don't want to leave the website design of one of your blogs for last-minute uploads to the major search engines. You also don't want to leave keywords and links on the landing pages of the websites of your first clients, which are likely to include classified ads in the future.
A final note about marketing agencies: Even if you have a great business plan and a steady base of steady clients, it's important to have an online presence. Today's digital marketing agency doesn't have to have its own website; however, it does need its own blog, which can give you invaluable insight into how you position yourself within the industry as well as provide interesting information for your readers to read. Having a blog makes you look more approachable to your prospects, and it helps to position you as an expert in your field.
Now you know why it is so important to track your analytics, spend time focusing on market trends, and build your online presence. Now it's time to create your business plan and begin building your online presence! If you take these steps now, you can ensure that you will be ready to face your clients when they call. Good luck!