They say its an IT boom in the world and out of all countries, most definitely India. Every other day, a new Digital Marketing company starts in India and every other day a company shuts down as well. Why is that the case?
The world’s best business is one which is one of the hardest to get in. For instance, Coca-Cola, you may beat the taste of their drink, but you can’t beat their price. If you may beat the price, you can’t beat their transportation network. Even if you do beat that, you can’t beat their Brand Value.
The biggest problem with Digital Marketing Business in India is the ease of getting in that business. Every other person with a computer and a little knowledge of Digital Marketing wants to open their Digital Marketing Agency. The next thing you know is that they have their own payment gateway with hopes of getting all the business in the world and conquering it.
The next thing that happens is that they struggle to survive in the market due to many reasons and then end up shutting their business down incurring little losses and wasting a lot of time.
I am sure no one reading this blog, would wanna go that route right?
4 Methods to Create a Digital Marketing Business
Just like any business there are many methods to achieve the desired result. The type of Agency you want to have, defines the way you get the results as well. Now what do I mean by that? Let’s have a look.
A Hyper Targeted Agency
Most Agencies in the US are Hyper Targeted Agencies. What I mean by that is they have a very specific niche of specialization for Marketing. Their team is just experienced in a very specific industry or domain and they wish to take business of just that niche. They refuse any other industry that knocks their door.
Their team is usually a size of 30-40 people and have a very personalized touch to all their work. The price that this Agency charges for its work is the highest comparing it to the other Agencies in the list. However its justified to an extent considering the specialization their team has. This Agency type works on very few clients and charges a big amount from each client for a very personalized feel to the work.
The primary method for this Agency type is their own business Marketing using SEO, Social Media, Pay Per Click etc and Referrals.
Monthly Cost to Client – $1500+
1. Hardest to get Business as an Agency. 2. One of the most expensive options for Clients. 3. Top Notch Quality for clients. 4. Usually Local 5. Client retention rate is usually high
A Rainbow Agency
Unlike Hyper Targeted Agencies, this Agency keeps every business coming its way. Most Agencies in South East Asian countries targeting Europe And America are Rainbow Agencies. These Agencies specialize in no industry but have one team which does generic work for all industries.
This Agency provides one of the cheapest solutions to clients and targets particularly small businesses. Their approach is to target more Quantity of clients rather than targeting a better Quality of clients. Usually these agencies don’t have any marketing done for their own website and use email marketing and calling as the main way to get business.
The clients which cannot afford a hyper targeted marketing Agency usually opt for these Rainbow Agencies. The clients getting the results they were expecting have a 50% chance as the work is generalized and Quality is not a major focus. They have a huge number of employees.
Monthly Cost To Clients – $250+
1. Cheapest Marketing Solution to Clients 2. Not that great Quality 3. Easier to gain business 4. Hard to retain clients 5. Usually working from a third world Country
So now, when you have decided which Agency you wanna go for. The first steps would be very different. If you are going for a Hyper Targeted Agency, start by marketing your own website and brand name online. For a Rainbow Agency, start by hiring Email Marketers.
The rest shall be covered in another blog. Hang Tight!