Start A Social Media Marketing Business
About
Starting a social media marketing business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell social media marketing, or selling social media marketing online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a social media marketing business ➜
Key stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
| Office Space Expenses | $35 | $3,250 |
| Employee & Freelancer Expenses | $0 | $5,500 |
| Equipment & Supply Expenses | $550 | $6,000 |
| Website Costs | $232 | $6,500 |
| Business Formation Fees | $5,600 | $20,400 |
| Software Expenses | $150 | $3,044 |
| Advertising & Marketing Costs | $0 | $2,750 |
| Other Expenses | $0 | $800 |
| Total Startup Costs | $6,567 | $48,244 |
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
Rapid boost marketing | rapidboostmarketing.com | #31,859 |
|
Cereal Entrepreneur Logo | cerealentrepreneur.academy | #103,997 |
|
Dragon Social | dragonsocial.net | #313,675 |
|
Smarcomms | smarcomms.com | #376,084 |
|
Egochi | egochi.com | #410,586 |
|
Kexino | kexino.com | #513,190 |
|
Fistbump Media | fistbumpmedia.com | #861,438 |
|
SocialMedia.org | socialmedia.org | #981,477 |
|
Video Marketing for Business | cenpostmedia.com | #1,028,005 |
|
Hiilite Web Design + Marketing + SEO | hiilite.com | #1,255,900 |
|
Social Media Results Driven Marketing | social-media.co.uk | #1,376,328 |
Pros & Cons
| Pros | Description |
|---|---|
| Flexibility | You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
| Ability to start your business from home | It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
| Traffic to your website | A social media marketing business gives people a reason to visit your website and to keep coming back to you! |
| Meaningful business connections | You never know who you will meet or get to work with for your social media marketing business. This could be the start of an incredible business opportunity! |
| High customer retention rates | Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your social media marketing business becomes an integral piece of their every day lives. |
| Pick & choose the clients you work with | Social Media Marketing Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients! |
| Cons | Description |
|---|---|
| Motivation of employees | If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees. |
| Low margins | The gross margins for your social media marketing business are typically around 23%, which can make it more challenging to incur new expenses and maintain profitability. |
| Stressful work | This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments. |
| Niche Market | A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience. |
| Work can be repetitive | You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting! |
| Customer churn | With a social media marketing business, people can cancel their subscription - which can make income unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible. |
Marketing Ideas
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1
Advertising on social media
Social media advertising is one of the leading ways to get the word out when it comes to social media marketing business.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.
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2
Facebook Community
Building a community is a great way to grow your network and your business. There are several different ways of building a community, one of the most effective (and simplest) ways is to build a Facebook group.
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3
Email marketing
The more engaged list of emails, the more engaged customers, which ultimately leads to more sales. One of the best ways to start growing your list is by providing your customer with something free (or discounted) in return.
