Tips for Starting a Marketing Business
Finding your niche will make your marketing business have a clear roadmap to successThere are marketing firms that do it all—from event marketing to search engine marketing. Chances are once you’ve found your niche, you will gain loyal customers who want more marketing services than your niche requires. They key is to create your niche first and then broaden your approach to serve existing clients. Otherwise as a startup company that offers a huge menu of services, it may be hard to sell yourself as an expert in any of them. The other side of the coin however, is if you are starting a small business as an outsourced marketing department for a small to medium-sized client who needs a whole suite of marketing services. It all depends on your target market. The primary steps to starting your marketing services company include:
1. Marketing your company effectively, by starting with top-notch marketing materials that show your expertise in marketing to businesses.
2. Scouting the marketplace to see what services are lacking or in-great demand in your area, (geographically or in your specialty).
3. Setting up business relationships with good printers, list brokers, graphic designers, video production companies and event planners.
Find a niche for your marketing business
Study the habits of other marketing businessesBy joining industry associations, you can keep up-to-date with the latest marketing trends and events.
Subscribe to trade journalsTrade magazines provide information on suppliers for specific marketing niches and news for the industry.
Hang a shingleIf you don’t have a big client to start up with, bid on small marketing projects through listing services.
Write a business plan for your marketing businessYour roadmap to success should include a great business plan, clear and concise objectives and goals and possible obstacles that you might find along the way.
business plan software at Business.com.
- When starting a new business, there is always a juggling act of time spent on existing customers’ accounts and time spent acquiring new accounts. Plan how you will balance the two, before you hand out your first business card.
- Always ask clients for referrals to other clients. Their suppliers, business relationships and clients are the best word-of-mouth clients you can find, if your client can give a great referral.
- Don’t give ideas away for free. Many times a company will request a full-fledged RFP so that you show your hand before they’ve chosen the company. Make sure you include past results in your proposal and past case studies, but only include the goals and objectives and general information of how you will accomplish it. This way you ensure your time spent on the proposal doesn’t go to the person who bid the lowest on the project without your work receiving a cent.
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