Introduction
A marketing agency business idea that has little competition. We will take the marketing agency business domain to ideate a business opportunity. Though we are calling it a marketing agency but will work to support third-party companies and organizations on the market communication strategy. In this B2B marketing business model we will see how the opportunity unfolds when the mass is taken into consideration.
Today I shall narrate a well-thought-out business idea for B2B and MARCOM domain which will focus on direct and digital selling. The business idea is on direct selling of signboards to shopkeepers, rework, repair, and installation.
Validation of the marketing agency business idea.
To validate the idea, I have done field research and the result came out to be very promising as a perfect niche where opportunity is huge. People from MARCOM with direct selling experience will find this marketing agency business model interesting.
The research was done on the go by riding on a two-wheeler on a city road with minimal speed. [My city has a bad reputation for low speed due to the narrow road]. I was doing a visual survey on shops and their signboards to find out how many are in the proper shape, their visibility, the message they are giving, and whether they need a replacement or new installation.
Result of the market research done to validate marketing agency business.
The result came out to be 55% need service work, 17% need replacement or new installation, and on visibility and appropriateness, 18% require rework. Another thing I noticed is that 23% of shops have a signboard which is cobranding a product or brand of a different company.
Let’s understand here how this tradeline works currently, as it said above 23% of the shopkeepers get a free installation from a different brand with their shop’s identity. 77% have their standalone brand/name signboard depicting their type, specialty, contact, etc. In the case of own signboard, the shopkeeper spends money on making and installing the signboard.
How the market is getting related services currently?
To get a signboard the shopkeeper generally goes to a graphic artist and print house, and within a week or more gets the installation done, then that becomes the property of the shop, and the shopkeeper is responsible for its maintenance.
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The solution the marketing agency business will bring in.
The business idea here is to take the signboard services to the shopkeepers directly at their shop premises and help them solve a problem like service, rework, replacement, or new installation.
The business will deploy a field salesforce that will work on lead generation. The sales force will be equipped with a few tools that will help them give varied presentations. The tools are,
- Graphic software
- Instantaneous design generator software
- Tag line generator
- Logo generator,
- Distant size measuring device.
While pitching the sales force will present the artwork, tagline, logo, and a complete 3D presentation of the signboard.
Other lines of revenue.
Apart from the direct selling, the second line of revenue of this marketing agency business is to tie up with big FMCG/FMCD/Telecom/Apparel companies and render them the services in bulk.
The third line revenue can be a service to the acquired shopkeepers for regular maintenance.
How will the marketing agency roll on?
To do this business one has to prepare the plan as below.
- Tying up with big PRINT houses or installing own facility for printing.
- Partnering with suppliers for the frame and other installation material.
- Partnering with the national level MARCOM agency to get subcontracts for company merchandise.
- Create a workforce, for sales, graphic work, workers for installation & service, and other functions of the business.
Hope you are clear about the Idea I have shared here. Now it is up to you to decide the size of the business. My suggestion is that please start with a single city. Work with five sales team members, small office, and workshop.
Investment required to start this marketing agency business.
Considering 6 months’ working capital (equivalent to fixed cost) and a few lakhs of rupees for procurement and other operational expenses will come to around 8 to 10 Lakhs.
Hope you have understood the marketing agency business model, if you want to know more, you can write to me.
Best of luck!
