Before we start, make sure you’ve checked out our previous article: How to Start your own Digital Marketing Agency Business first.
Business Model Canvas (BMC) was initially proposed in 2005 by Alexander Osterwalder, Thanks to Strategyzer.com who developed the original Business Model Canvas (BMC) Canvas template that I used here. Inspired by this format, I’ve applied it and created a template with the title Digital Marketing Agency Business Model Canvas which consists of 10 building blocks essential for starting a digital marketing agency business.
If you are marketing freelancers or consultants who are thinking about starting your own digital marketing agency, this business model canvas is for you.
- Market Need
The Market Need building block is for the problem niche you’re solving. List down the specific problems your agency will directly address for clients. A short description like “Clients need more digital marketing guide” is not specific enough. Get to the core problems – this can easily be highlighted by talking with potential clients and asking them what their business challenges are when it comes to digital marketing. Although it’s tempting to jump straight to the solution, this building block is all about identifying and empathizing with the client’s problems. Be as specific as possible.
Describe in a summary why you want to start this agency. As you discover more details about your agency, the Mission building block consists of your agency manifesto – a clear declaration of the agency’s purpose and why your client should care and take action. Your agency manifesto is what you and your employees live on by.
Goals must be SMART (Specific, Measurable, Achievable, Relevant, Time-bound).
- Unique Selling Proposition (USP)
An agency’s Unique Selling Proposition (USP) is probably its greatest asset after its people. Your agency positioning will set you apart from the competition after the client has heard pitches from other agencies. Digital Marketing agencies have a high tendency to all sound the same. A sample USP would be a tagline that goes like this: “we are results-driven marketers who focus on bringing you more sales”. Your USP needs to actually be unique!
This will be a simple list of the actual digital marketing services you will offer. List them down – no need to go into any detail.
- Lead Generation
List down the platforms or ways you will look for new clients. You will likely need to follow many lead generation tactics but list the tactics you will focus on initially. These should be activities you can execute yourself at a low cost.
- Client Segments
Similar to your agency’s USP, it’s equally important to define who your ideal target clients are. This building block is key because it’s easy to fall into the trap of working for clients who don’t fit your ideal customer profile and target niche. This can be unavoidable because most agency owners don’t have the luxury of turning down work. However, working with clients clearly outside of your ideal customer profile and target niche can set you up for a bad mutual experience.
List all your big-ticket expenses at their monthly amounts.
- Tools / Software
List down all the tools you plan to use to run your digital marketing agency.
- Key People
List all the key roles in your agency, both current and short-term future hires. You can also specify whether these roles are full-time, part-time, casual, or freelance.
If you want to join our partner program at Emerge. You may visit our partner program and apply at: https://partners.emerge.com.ph/start-your-own-digital-agency-business/