What are the pros and cons of starting a startup marketing agency?

Starting a marketing agency sounds amazing. Moreover, beginning with a more niche agency i.e. a startup marketing agency sounds even more exciting. However, there is a lot more to it.

Startup marketing agencies are those agencies which support startups with their marketing strategies. If you are thinking to begin your own startup marketing agency, then it is essential that you are familiar with the pros and cons of the same.

Following are some of the merits and demerits that you must know about:

Pros

Flexibility: One of the biggest benefits of running your own marketing agency is flexibility. You can put as much time as you want in running the business. It is completely to the owner’s discretion. If the work is being loved by you, you can spend more time on it. This is very beneficial compared to doing a job in the marketing agency.

Scalability: Businesses and the processes in relation thereto are changing on a regular basis. This essentially means that the demand for new products, features and other services for the businesses will always be there. There are different models of businesses that can be explored and implemented. This means that more customers can be reached and greater profits can be made.

Better rates of customer retention: Once an investment has been made by a customer in your product, they will come back to you if the quality is good. Similarly, if marketing agencies provide good customer service, they will be able to retain customers. The services then become necessary to the customers. It is one of the biggest benefits of having your own marketing agency.

Cons

High competition: The competition in the field of marketing is very high. There are hundreds of agencies doing the same business. Thus, it will require new startup agencies to invest considerable amount of time evaluating the market and understanding how the demand in the market can be leveraged.

The sales processes are longer: Investing in the marketing agency can require a lot of money. This is something which not everyone can afford. It is important to note that the conversion process and funnel can be longer. You may even have to wait for a year or two to make the first profitable transaction. You must only start with a startup marketing agency if you the ability to hold money.

It can be complex: Marketing may seem straightforward but it is not. There are different elements which are complex and complicated in its inherent nature. It is not something which everyone can do. Thus, you must only begin a marketing agency if you have the requisite skills and expertise to get the job done. Otherwise, you must learn before starting anything.

The bottom line

Above are some of the major pros and cons of starting a startup marketing agency. However, once you begin with the business itself, you will come across various realities behind the field of marketing.