The barrier to entry for starting a social media company is so low that thousands of new companies are springing up each year. All you essentially need to get started is a laptop, an internet connection, and the right attitude. But with so many agencies setting up every month, how can you grow your social media company?
1. Positioning is Essential
How you position your agency is the most important factor in your prosperity.
Positioning, this includes the likes of:
- Your brand
- Your pitch decks
- The services you sell
- Your pricing
- How you approach businesses
- The content you produce
- Your own social profiles
- Your website
- Your personal brand
These are all important factors, across which you need uniformity. The most successful agencies price their services relatively aggressively. Also, they shy away from cold calling . And they stay separate from the battle for low value clients.
By positioning your agency as experts, and backing it up with high quality, consistent creative assets and social profiles, you can charge more, have clients come to them, and see more success.
Another area to consider is how you can appear different. Is there a slant you can put on the services you offer. Or should you just be servicing one niche of clients to help you differentiate? It’s different for each company, but it’s worth thinking through before going too far.
2. Treat Your Brand as a Client
With social media agencies, proving return on investment for clients can be challenging, particularly if you’re focussed on the content side. As such, clients are going to be looking at your social profiles and how you conduct yourself, rather than for specific revenue-based case studies a lot of the time.
Given this, you need to also ensure that you treat yourself like a client. It’s all too easy to not work on your agency, and just work on client projects (especially if you have a few projects on), but you must develop your social media profiles, and dedicate time to building your brand, just as you would for a client.
If you’re a social media agency, one of the best places to start is by signing up as a contributor on sites like this very one (author sign up is available here) so you can share your knowledge with the wider business community, and then sharing that socially.
It doesn’t have to take a lot of time, it just needs to be prioritized so that it happens, and so you look legit to potential clients.
3. Be Smart With Your Lead Generation Efforts
A lot of social media agencies fall by the wayside because they don’t get their lead generation efforts working for them in a profitable way.