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Essay: Digital agency business plan

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  • Subject area(s): Business essays
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  • Published: October 23, 2021*
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  • Words: 2,284 (approx)
  • Number of pages: 10 (approx)
  • Digital agency business plan
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DigitalHand is a digital agency that aims to provide digital solutions for small and medium-sized enterprises (SMEs) that are looking to increase their online presence. We have categorized our services to three major folds – Digital Marketing, Web Development and Graphics Design and plan to expand on to mobile app development in the future. We like to take a strategic approach in delivering the right solutions to all businesses and are very transparent in the process. Our team will ensure that we will devise the right combination of online strategy, marketing service such as Search Engine Optimization (SEO) and Pay Per Click (PPC) to ensure maximum Return on Investment (ROI). In addition, a robust website to reach new customers and amazing graphic designs to help businesses stand out from their competitors.

This company is under 50/50 partnership where my business partner Alan and I will equally share any profit or losses generated from the businesses. To help our company run smoother, we have also hired an intern, Dev. Fig.2 in the appendix shows how we have manage projects from start to finish with our individual responsibility in Section 4.

The PESTEL analysis (Section 7.1.4) also shows that nearly 1.9 million SMEs do not have an operating website. Moreover, my market research (Appendix, 9.1) also shows that 40% of the 15 businesses I surveyed do not currently have a website from which 83% said that they would consider making one. DigitalHand will be targeting those businesses to reach more customers. There is also an obdurate demand for web designing and rebranding as only 3 out of 9 businesses said they are happy with their website and 11 out of 13 businesses said they would be considering redesigning the brand. Furthermore, Fig.1 in the Appendix shows how technical development, creative and marketing which are all in line with my services had the highest percentage in the total fee income. Thus, in conjunction with my market research and analysis with the income statements (Appendix, Fig. 3), I believe this company is highly profitable in few years.

Finally, this business plan aims to see if the business concept for DigitalHand is viable.

2. Service

2.1 Digital Marketing

We believe that digital marketing plays a pivotal role in every business’ marketing strategy. DigitalHand therefore aims to work closely with SMEs to help them determine their best strategy according to their aims and objectives. Using SEO we aim to increase the client’s website rankings in the search engines. As a result, not only will their business generate more traffic and enquires, their brand will also get recognised in the digital space. Likewise, we offer expert PPC to businesses helping brands getting exposure against your chosen search items and increase conversion rate in return.

2.2 Web Development

Our dedicated web development team is able to design and create robust and rapid bespoke websites with interfaces to meet any business goals. We will also provide additional services of email, web hosting and domains. Thus, making the whole process a seamless integration of quality content into the overall fabric of the site.

2.3 Graphic Design

Our graphic design services will include:

• Business Cards

• Books, brochures, flyers, magazine

• Infographics

• Social Media design

• Print advertisement

2.4 Mobile App-development (Future Service)

The Mobile App-development aspect of our service will be divided into the following phases:

Design & Development

o We will analyse the requirements of the client, design the user interface to tailor the end user at every step aiming to create a first-class user experience.

Deploy & Support

o We will work in test driven environments to ensure the application is stable throughout the development.

Once the application is launched, we will continue to monitor and provide support with our in-built analytics to help the application consistently improve in its future phases. Additionally, we take it one step further by helping businesses launch their application on mobile devices keeping businesses at the forefront of their respective market.

3 Market

3.1 The Target Market

The primary target market for DigitalHand are SMEs based in Canterbury. Our services such as web development, social media/email marketing are the top marketing tools used by small businesses today (Ballou, 2018). My company will help small businesses grow on the digital platforms and reach potential customers. We will provide them with all the tools through our services. 73% of businesses are now investing in design to differentiate their brands online (Adobe, 2018) and that is where I want my company to be a forefront in.

My extensive market research (Appendix, 9.1) shows that 83.3% of the businesses that do not have a website are willing to consider having one and those are exactly the businesses I will target.

3.2 Distribution Channels

Once the project is complete with client’s satisfaction, depending on what the services was, it will get distributed as follows:

• Digital Marketing – By the end of the project, we will have a full document laying out the marketing strategies, tailored to the client’s businesses. The documents will then be tested with the client themselves.

• Web Development – Upon completion, the fully functioning website will be deployed in the web server.

• Graphics Design – Digital works will be uploaded to wherever the client wants i.e. website, social media or any other digital platforms. Conversely, non- work, such as printout, will be handed directly to the client.

• Mobile App-development – The client will receive full documentation of the application which includes all the app functions, in-app purchases (if applicable), future updates and all the tests results from start to finish. Throughout this process, continuous emphasis will be places on transparency and client-interaction.

3.3 7 ‘P’s Marketing Mix

3.3.1 Product

Our product aims to help SMEs integrate and thrive in the digital world. Our services accurately facilitate our aim.

Every company would benefit from a website if they are to reach as many potential customers as possible. Websites we develop will help create an online presence for businesses which could potentially increase the revenues as it brings in more customers. For instance, if the client’s business is a hair salon, then the website will contain information such as location, enquiries form, feedbacks, promotional content, opening hours which will really help their business appeal to their customers.

Furthermore, having a website will also add credibility as potential customers would likely to be distrusting any business that does not have an email or a website.

Digital marketing will facilitate interaction with targeted audiences through online channels. Our SEO, CRO and marketing strategy tools will increase traffic to client’s website which means more potential customers are attracted as their company will be the first company that the new customer will see when they are search for a specific product or service online.

Our services also include graphics design which means any promotional materials can be designed by us which will be modern and carefully catered to the targeted audience. This service will help build company’s identity and brand recognition through every aspect of business communication. Our graphic design will offer visual consistency, be it presentation templates, ads, brochures, flyers, cards or magazine.

DigitalHand also aims to develop robost applications that are test driven, carefully strategized and create the best user experience possible. Our mobile apps will help businesses establish and attain a brand value, improve customers service and stand out from the competition. Businesses in this day and age, no matter how big they are, they need mobile applications to quickly adapt with the latest technological developments. People on average are online 24 hours a week with young people check their phones every 8.6 minutes (Hymas, 2018). With mobile application, it will help the client’s business be visible to its customer at all time.

3.3.2 Place

Since this is a family owned business by my brother and I and our profession allows for remote working, we can often work from home. This will save us time as well as money since we do not have to commute. We can do online marketing, graphics design and web development at home and can our works can be distributed digitally. In circumstances where we would need to meet our clients, we can do it at their work place or ours as long as there are machines available with stable internet connection.

In the next two years, when the business grows and needs more manpower and infrastructure, we will be relocating to a studio space where we will be paying rent and utility bills.

3.3.3 Price

I have taken three main factors to influence my pricing decisions. They are:

1. Competition- I have taken into consideration that if my price rates are higher than that of my competitors, they have a competitive advantage. Also, in some cases, location and personal recommendations are factors that could play a bigger role in client’s purchasing decision. Accordingly, I have set my price rates of my services to be reasonably competitive.

2. Costs- For web services the prices varies depending on the purpose and features of the website. For SEO, I have two pay monthly pricing models – Basic which is suitable for smaller websites and Premium which is for businesses that have a lot of online competition. For any graphic designs, there is a fixed project price as oppose to hourly rate. This could also attract more clients since they do not have to pay extra for overtime and delays in the project.

3. Value- Value-based Pricing (VBP) allows me to set a price on value added services. An example is if I have developed a website for a client and in addition to that I offer web hosting and domains for a reasonable price. This way I bring value to my potential clients since all the services are provided by one company which saves time and money for my client.

Additional Costs

Type of site Features Suitable for Cost Domain Hosting

Basic 1 to 5 responsive pages including a contact page Self-employed, someone who does not need their content to be updated on a regular basis. £100 – £300 £3 to £15 per year £3 to 40 per year

Enterprise Basic + social media integration, google maps and analytics someone who needs their content to be updated on a regular basis.

Start-ups and small businesses £300 – £500 £3 to £15 per year £3 to £40 per year

Ecommerce Basic + Enterprise + features such as live chat, delivery tracking and order management system integrated Businesses that sell goods online £500 – £700 £3 to £100 per year £3 to £120 per year

Bespoke Website will be driven by databases, unlimited pages Businesses that needs complex functionality such as real estate or architects £700 – £1000 £3 to £100 per year £3 to £120 per year

Table 1.1 Prices for Web Development

SEO Type Features Price

Basic Content marketing

References resources

Marketing plan for the next 3 months £150 per month

Premium Marketing plan for the next 6 months

PPC

CRO

Social Media £500 per month

Table 1.2 Prices for SEO

Service What’s included Cost

Branding logos £100

Stationery Business cards, company letterheads £130

Packaging Package labels/design £150

Email Company email £100

Brochure magazines £250

Poster Adverts £200

Table 1.3 Prices for Graphics Design

3.3.4 Promotion

Since we are our business is new to the market, I understand that we may face some challenge in attracting and retaining new customers. To promote DigitalHand we will be executing the following promotional activities:

• Advertising: We will advertise our company’s through effective mediums like local newspapers, outdoor signage (e.g. posters) and online ads on websites and blogs.

• Short-term sales promotions: We will distribute coupons and special price prizes (mostly online) to attract new customers at a reasonable rate. So, for example, one of our promotional coupons that gives costumers 10% off on their first purchases, is likely to catch the public eye and potentially attract more clients for DigitalHand.

• Direct marketing and personal selling: Although time-consuming, during the first few months of our business, we will physical hand out pamphlets, flyers, and brochures to potential clients and businesses which will be followed by personal selling or telemarketing. In addition, I will also upload DigitalHand’s portfolio to popular freelance search engine websites such as Designcrowd and Toptal. The portfolio will contain our projects so far, testimonials from clients and recent case studies. This will give potential clients a better picture of the quality of the work and services we provide.

3.3.5 People

We will be promoting ourselves on our company’s website as well as our personal website. On the website there will be a section ‘Meet Team DigitalHand’ where Alan, Dev and I will have page to introduce ourselves, our expertise, experience and display the work we have done in the past.

3.3.6 Processes

During the first phase, I will take time to discuss and fully understand the client’s requirement before proceeding with the design stage. During the design stage, we will ensure that we tailor this process with the client’s need with a bespoke solution. If its graphic work, the client can examine visually. If its code, then Alan and I will test it to make sure everything works. We follow test-driven development process which means that we will write tests and follow up with set of operation. We will only proceed if those operation are fully functional and meet the customers’ requirements.

Once the project will be completed, our team will still remain on hand to manage and support any queries that the client may have which will also help customer retention.

3.3.7 Physical Evidence

All our services will include some physical evidence. In addition, bespoke features will also have guides for client to access the Content Management System (CMS).

Digital Marketing – full reports of CRO, SEO, PPC. (daily/weekly/monthly/yearly reports also available)

Web Development – full documentation outline features and content of the website.

Graphics Design – physical copy of the work such as flyers, brochures, promotional posters and business cards.

16.1.2019

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