Starting a social media agency business
The road to starting a social media agency is not easy. Like any other business you start, it takes a lot of work to get it right. However, with the right plan and good execution it is definitely possible for you to grow your business.
To do this, you need to use the following steps.
5 steps to start your social media agency
1. Research current companies- It is important to know what other social media companies do to service their own clients. When you how other agencies perform social media marketing for their clients, you can determine the best course of action for your own business.
Create a niche that separates you from your competitors. Determine what things the other companies do not do. Why are they not helping clients with these tasks?
Is it possible for you to do so? What advantages do you have over the other companies that makes you able to succeed where they failed?
Without solid competition research, you cannot know the best course of action for your business.
There is a niche for almost any business. Therefore, spend some time researching the best approach now. It is better than finding out something you missed later on in the process.
2. Create a plan - Most social media agencies already know they need to create a plan. That is not a life alternating statement.
However, you need to make a plan that is not just a dust collector on your shelves. Your business needs to create a living plan that changes with your clients and business growth.
Plans are great when you start your social media agency. They give you direction where you had none previously. They are also never perfect. That is because society and the way business operates changes constantly.
For example, no one would have thought a marketing company could survive helping people use Facebook, Twitter, or LinkedIn more effectively. However, they are some of the best opportunities of the past decade.
Therefore, it is best to keep your options open. Create a plan that can breath and grow with your dreams.
If you want to have a done for your plan, then check out some of the templates that Hootsuite created to help businesses with their social media marketing.
3. Execute the plan- The only way to know which part of your plan works is to execute it. That way, you can determine the best aspects of your plan and modify the parts that do not work.
Executing the plan needs to be a consistent effort to continually bring in more business. If your plan asks you to do something that you are not capable of doing on a regular basis, then it will just hurt your business.
That is because irregular action diminishes the value of your marketing efforts.
Take Doritos annual #crashthesuperbowl ad. Every year, Doritos has a user generated contest to see which fan can create the best Doritos ad. The prize is $1 million dollars and fans everywhere compete to get their ad out there.
The chip maker does this continually year in and year out. It has become an annual tradition that generates a lot of brand awareness for the company.
4. Learn from your mistakes- Next you need to remember that executing and planning are two completely different things.
The fact is that once you start executing your plan, you will make mistakes. It happens to everyone. The key here is to learn from your mistakes.
Take Dominos. They had a video from employees a few years ago showing them doing gross things to the pizza. In response, Dominos CEO made an apology video stating how inappropriate the actions of these employees were, and then proceeding with felony charges against those employees.
While most businesses do not have to worry about that level of problems, if you are running social media for a company you need to be aware that problems arise.
Your ability to say sorry and come up with a better solution is crucial to your job.
5. Expand your reach- Finally, once you successfully completed work for one client, you can start doing this for multiple clients.
That is why many of the best social media agencies have set programs that they know work. Then they expand it to help more clients.
How do you plan on starting your social media agency? Have you completed the research? What type of plan did you put in place? How much time have you spent executing the plan?
Every company is different. The key is to ensure that your social media agency can create value in your niche for your clients. The better you are at separating yourself, the better your chances of succeeding.
Let us know how your social media agency separates themselves in the comments below.