Please indulge me here for a second while I deviate a little from the topic. You see, the three keys we talk about in the headline – and which we will get into in a little while, I promise – are pretty much the “how” of running a successful agency. What we need to establish first, however, is the “why.” Or, more specifically, your “why.”
There could be any number of reasons why you want to run a digital marketing agency:
- Are you a new entrepreneur looking for the ideal business opportunity?
- Are you an experienced entrepreneur who wants to take advantage of a big money-making trend?
- Or are you an existing business owner who wants to skyrocket the growth of your own business?
- Perhaps you’re a stay at home parent looking to make some money in your spare time?
Here’s the thing:
On some level, all entrepreneurs start businesses for the same reason: Freedom. Freedom from the constraints of finances, time and location.
One of the biggest breakthroughs you will ever experience in your life is when you suddenly realise there’s no longer a relationship between how much you work and how much you earn. And, because we live in an increasingly connected, global community, you’ll also realise there doesn’t have to be a relationship between where you live and where you work either.
But perhaps the most meaningful freedom that comes with running your own business is the freedom to make a positive impact in the lives of your clients. By running your own digital marketing agency, you’re not just making a difference in your own life, but in other people’s too. And that’s a powerful and truly awesome feeling.
I Know What You’re Thinking
I’m hoping that by now, you’re a little excited about where all this might be going, but I know you’re also more than a little nervous because it all sounds like Greek to you, and you don’t actually know what digital marketing is, never mind how to run an entire agency devoted to it.
But guess what? You can learn!
Anyone, and I do mean anyone, can run a profitable digital marketing agency. Even if you don’t know the first thing about digital marketing, even if you don’t have any real technical skills, and even if you think you’re just too old to learn something new!
Think about this for a minute:
When you were born, you hardly knew how to do anything! And look at you now! Virtually everything you know how to do today you had to learn. You can learn this too. You just need someone to teach you.
Running a profitable digital marketing agency isn’t just a case of “if you build it, they will come.” You can’t just set up your office, or establish a virtual space in which to work, and then sit back, hoping work somehow just comes to you. It would be great if that’s how things worked, but in the real world of roll up your sleeves and do something, it’s not like that.
So, what do you need to do?
You see? I promised you we’d get back to the “How.” There are three keys to success if you want to run a profitable digital marketing agency, and here they are:
Target The Right Niche
No matter what anyone tells you, everyone is NOT your client. Finding the right niche is vital to the ultimate success of your agency. Think of industries that are demand, rather than sales driven. Dentists, for example. Everyone needs a dentist! Dentists also have repeat clients – one visit leads to a booking for the next one. This means each client has a high lifetime value, which significantly reduces their cost of acquisition.
Whatever niche you decide to focus on, make sure the potential targets are separated by geography. You don’t want to have four dentists all working within 10 kilometres of each other, because then they’re all fishing from the same client pond! There are literally thousands of dentists in the world, so target ones who are far apart.
Create A High ROI Funnel
A sales funnel is exactly what it says on the tin – a system that takes leads (potential customers) and funnels them through each stage of the conversion process until they buy from you. There are four key characteristics of a high performing sales funnel:
- Lots of high quality leads at the top of the funnel.
- Automated processes to guide cold prospects and turn them into engaged ones by the time they reach the middle of the funnel – all without a lot of effort on your part!
- Consistent performance – a constant flow of qualified leads through the funnel at any given time.
- Converts quality customers at low cost.
Attract High Value Clients
Marketing people the world over will tell you that high-end clients don’t trust cheap products or services. They want quality and they don’t mind paying for it. At the end of the day, if you’re making lots of money for your client, they’ll be happy to keep paying you whatever you charge! Make money for them and they’ll make money for you!
Obviously, we’ve only scratched the tip of the iceberg here, and there’s a lot more you need to know before you can run a successful, six-figure digital marketing agency. So here’s what you can do right now. Register for my FREE upcoming live webinar where I chat to you in a lot more detail about how you CAN run a profitable digital marketing agency from scratch! I have literally hundreds of past students who’ve done exactly this. So, here’s the link for the webinar.
Sign up today! I look forward to seeing you there.