How to Start a Marketing Business
Marketing businesses help other business owners promote their goods or services. A marketer understands branding and marketing principles, and uses them to assist both for profit and nonprofit businesses. Starting a successful marketing business requires determining the legal requirements, creating a business plan, finding a niche, analyzing your competition and marketing your own business.
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Determine what paperwork you must file to start your business. Some local governments require a license for marketing. The Society for Marketing Professional Services offers a Certified Professional Services Marketer (CPSM) certificate to lend credibility to your business. You will also need tax identification numbers, especially if you plan to have employees. Some states also require business owners to register their business name. You may also be required to apply for a zoning variance if you plan to work from your home office.
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Write your business plan. As part of the planning process, you will create a road map for your marketing business. You will determine your target market (who your customers will be). You will also choose a business structure. A limited liability corporation (LLC) is the most common kind, but you could also practice as a sole proprietor (your tax adviser or business lawyer can help you pick which setup is best for you). You should also select a business name. Many marketing business owners use their last names and the words "communication" or "marketing firm."
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Determine your niche. Many marketing firms provide general marketing services, but specialization allows you to concentrate your own marketing efforts and focus on your area of expertise. An easy way to choose a niche market is to study your marketplace for a need that isn't being filled. Marketing specialties include event marketing (publicity for one-time events), online marketing (Internet-based campaigns) and direct marketing (material delivered directly to consumers).
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Analyze your competition. Look at where and how they market their services. Determine what you can do to win over their current customers. You can also join trade associations to meet your colleagues and exchange valuable marketing industry information. The American Marketing Association and Business Marketing Association offer a variety of networking opportunities and marketing resources.
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Market your marketing business. Once you have established your business, you need to use the same marketing skills you give your clients. Choose media that reaches your target market (trade journals work well for business-to-business marketers, while direct mail brochures help to reach individual customers). Consider having an event to showcase your marketing capabilities and meet new potential clients.
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