How To Start A Social Media Marketing Agency

Social media started as an easy and fun way to connect with family and friends. Now, it has become a profitable marketing channel. Seeing the opportunity this presents, many marketers and entrepreneurs want to dive into the fray and establish their agency. Much like any business, there are plenty of pros and cons of starting one. However, there are some essential steps to establishing a social media marketing agency you can take to ensure a smooth takeoff. 

Here are five steps to building your social media marketing agency from the ground up

Step 1: Pick Your Niche

Picking a niche will determine where you’ll initially be focusing your efforts in the first few months or years of your agency. It will help you determine what platforms and industries you’re fully comfortable and competent in working with.

• Platform Niche

Each platform has different audiences, reaches, content, and posting rules. That’s why while starting, it’s best to focus on one or a few platforms. This way, you can thoroughly understand each platform’s nuance and give your first clients the best that you can. After gaining a little bit more experienced, you can branch out. 

• Industry Niche

Different industries have different needs. When you’re starting, it’s best to focus on industries that you’re familiar with or those that aren’t too technical. 

• Scope of Services

Clearly define what you’re offering your clients to avoid dealing with tasks you’re not equipped to deal with. Also, don’t start with a wide scope to avoid overwhelming yourself and branch out only after you’ve mastered what you already have.

Step 2: Create a Business Plan and Structure

One of the most important steps on how to start a social media marketing agency is to decide on a business structure. This will provide a solid base for your agency. First, choose what type of business you want to have (sole proprietorship, partnership, limited liability company). Second, you have to decide on a suitable name that is unique and easy to remember. Next, you have to go over the legal aspects of your business and make sure that you’re complying with your country’s laws. Lastly, get yourself the needed social media tools that will help make your job more efficient.

Step 3: Determine Your Pricing

In running your agency, you’ll have to consider taxes, salaries, overheads, and setup costs into your pricing. At the same time, you can’t charge too high. A great way to figure this out is to decide between two pricing models. 

• Packages

Packages clearly state what services you offer and what you don’t. However, it is a little more expensive which might make clients hesitate. 

• Hourly Rate

Charging for an hourly rate allows you to be paid fairly for the actual work you do. You can also charge additional depending on how difficult the client’s task is. If you opt to use this though, invest in a time tracking tool to accurately track your projects.

Step 4: Build Credibility and Gather Social Proof

Prospective clients will check you out before picking you for the job. They’ll be looking at your social media and your website. So establish yourself on social media and build a credible website with client testimonials. Given that you’re still starting out, getting these testimonials might be tricky but you can get them from previous jobs like non-profit jobs, unpaid jobs, and passion projects. It also helps to showcase your expertise on social media by sharing non-ad and creative posts related to what you can do. Don’t forget to build your portfolio as well. Start out simple and honest and expand as you grow and gain more clients.

Step 5: Get Your First Clients

One of the hardest steps on how to start a social media marketing agency is getting your first clients. When starting out, clients won’t be coming to you. You’ll have to go to them. One of the first things you should look at is your existing connections. Since these people already know you, they’d be more willing to give you a shot. Once you’ve completed a job for them, you can ask them to leave reviews to boost up your credibility. 

You can also turn to online platforms like LinkedIn or freelancer websites. There, you’ll be able to find people looking for the services you offer and you only have to sell it to them. 

Starting out your own social media marketing agency can be daunting. With the right strategies and enough preparation though, you’ll be able to build a solid foundation for a competitive business.