Content creation involves making things like images, blogs, and other pieces for clients, and one of the things that makes the job interesting is the fact that you will work on so many different things. In this article we discuss Starting Your Content Marketing Company.
If you have a passion for content creation, you might want to go into content marketing. But there is more to beginning a successful company than registering a business name in your area. You’ll need to do a bit of preparation to ensure you are ready to be successful.
Create a Business Plan
Having a solid plan will help you become successful, no matter your field of entrepreneurship. It lets you decide on specific aspects of the business, helping you learn about the unknowns.
For instance, you’ll want to think about the costs the endeavor requires. If you’re willing to perform many tasks, it might not take that much of a financial investment.
Perhaps you can create videos, write blogs, and take care of social media.
Of course, you might need to rent an office space, hire a couple of employees or freelancers, and purchase equipment. Make a list of all the expenses and ensure you factor in the ongoing items.
It might be a while before you can turn a profit, so you’ll want to ensure your personal finances are in order. If you have large expenses, such as past-due debt or other costs, consider getting a personal loan.
You can pay back in monthly installments, making a large expense more manageable when you are just starting out with the business.
Consider Your Target Market
When managing your content marketing agency, you’ll work with many clients, including businesses and individuals. Still, no matter the niche, the best client is one that has frequent, open communication with you.
Since you need to give the client what they want, you’ll want ones that are upfront about what they need and will take feedback from you.
Setting prices is often challenging for new businesses. And for content marketing agencies, the variety of services offered means the price charged can vary.
For example, if you are optimizing something a client has, you could charge anywhere from $75 to $200 an hour, depending on your experience level and the job. On the other hand, if you are managing social media, you could charge $100 an hour.
And for some projects, you might charge based on the work completed, not your time spent. Consider spending some time putting together some information about the different projects offered and what your price range is.
Then you can put that data on your website for potential clients to view.
Ensuring You Make a Profit
Once you have the company up and running, you’ll want to try to get at least a 20 percent profit margin. The profit you make depends on what you charge and how many clients you have.
Many agencies have monthly retainer fees, and you might agree to complete specific work in exchange. While you do not want to undervalue your work, you’ll also want to price your services competitively to attract new clients.
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Also published on Medium.