Starting a marketing agency is a rewarding experience, but it is also a very challenging one. There are many steps to operating a successful marketing agency, and they all need finesse, time, and funds. From building a fantastic website, and generating clients to effective SEO strategies to build your brand, the challenges that agencies face can be formidable.
There are many different types of agency challenges that might arise as you do business and try to grow your brand. Thankfully, there are solutions to overcome these challenges that will help you succeed as an agency.
In this article, we will cover the 5 challenges that you will face when starting a marketing agency and what you can do to overcome the 5 challenges that you will face when starting a marketing agency.
This is the number one challenge for digital marketers. Generating traffic and leads seems to get harder and less attainable as more platforms become available. Many business owners spend all their time focused on social media, posting daily and every week without any kind of return.
It can be maddening, especially when it seems to produce for other brands. When it comes to creating content that makes enough traffic and leads, you must take a step back and ask yourself, are you truly creating high-quality content and the type of content people want to see?
Did you know 53% of consumers want to see more videos from marketers in the future, while only 14% want to see more blog posts?
Once you know your audience better, you can begin to take the proper actions that truly speak to them, which leads to an increase in traffic and leads. Knowing your buyer persona is key here.
When done effectively, your website draws in the masses, converts them, and allows you to make sales 24/7. It is no wonder managing websites is one of the biggest hurdles current marketers face. You need your website to attract, nurture, and convert leads.
Issues with website management include a variety of different factors, from website performance and design, from average load time and website security to mobile friendliness and SEO. To help you deal with these challenges and can look to an agency or consultant to guide you through the process.
Get feedback from customers on the problems they may be having in certain areas on the site. Check out your competition as well, see what they are doing, improve on it and make it your own, and of course, investing in the right tools like a CMS to make sure you are maintaining and updating your website will be a necessity and savior.
Hiring full-time marketing professionals may simply be unachievable when starting a marketing agency and you end up hiring the bargain bunch that is within your budget. If you are wondering why it is such a huge undertaking it comes down to what you offer and what expertise your agency requires to provide its clients with products and services.
You may have a skill set and be able to put out finished products and run certain campaigns, but you will need help in many areas. For example, you might need an SEO expert, web designer, etc. These services require a specific skill set, and hiring an expert may burst your budget. You can always look to freelancers but then you may not get what you need at the end of a campaign (there is a flight risk involved and a lack of quality control).
As companies and technologies continue to evolve, training your inhouse-team will become a great challenge for marketers. Whether it is training them on digital tools, taking advanced courses that they will be implementing every day or just making sure they are reaching their fullest potential.
In this case, the answer is simple until you can attain the dream team you want for your own agency, work with one. Outsourcing services to a White Label Agency will help relieve a lot of the stress until you find, train, and can afford your star staff.
A White Label Agency essentially does all the work for you and the client all under your branding you simply resell your clients the products or services. These White Label teams can jump in on any digital marketing campaign at any time. In fact, many organizations use White Label solutions to scale and save money it is a very common practice.
ROI measures the impact of marketing initiatives on profit and revenue growth. Organizations can determine the effectiveness of marketing campaigns by calculating the return on marketing investment. For ongoing and future marketing campaigns and initiatives, marketing ROI is typically used to justify budget allocations and spending.
Tracking and determining your ROI is a particularly hard one. Even if ROI is a significant statistic that shows your campaign's success or progress, tracking the ROI of each and every marketing activity is not always simple, particularly if you do not have communication between both your marketing activities and sales reports.
Did you know only almost 56% of marketers surveyed say they even measure Customer Acquisition costs?
There are numerous tools available to help you do just that, from marketing software to CRM solutions. That way, you can directly see how many leads and customers are generated through your marketing activities.
You can also track the marketing ROI of your competitors. By doing so, you will have a better understanding of how their organization performs within your particular industry. In this way, marketers can keep efforts competitive by estimating the ROI of competitors and adjusting baselines accordingly.
Securing a premium budget is always a pressing challenge. Sometimes it's more difficult to get a bigger budget, especially for smaller businesses without sizable or flexible marketing budgets. It is, however, a death sentence to cut your marketing budget. Simply put, your business can not grow without it.
Did you know 70% of marketers actively increase budgets with inbound marketing?
If you want to justify spending money on marketing, you must demonstrate that it works. When the former no longer produces results, don't be afraid to try new things. Inbound marketing strategies that are well-constructed clearly produce results and inbound marketing also plays a large role in driving higher budgets.
If you can show that the proof is in the pudding of what you are offering, getting investors can be more simplified.
Starting a marketing agency is not easy, it takes a lot of hard work and dedication as well as a learning curve you will need to always ride. As a business owner and entrepreneur, you may feel like the weight of the world is on your shoulders taking it all on your own but there is light at the end of the tunnel. Even with the oversaturation of competition you can reach out and contact people to help grow your business. With the right knowledge and tools you can eventually sit back and watch what you have grown really flourish.
How to Start a Marketing Agency in 2023
SEO vs. SEM: What Is The Difference Between SEM And SEO?