Running a digital marketing business is exciting but often challenging. You probably have enough knowledge on how to offer your services to clients, but you may run into issues when forming a company culture or through research and development. Let’s look at these 6 mistakes digital marketing businesses make that are avoidable and could save you thousands.
Mistake One: Not Signing a Contract
You must always sign a contract when you’re conducting business. Contracts provide a description of your responsibilities to the client, which means you avoid confusion, but more importantly, it binds parties to their duties. If a business client decides to leave in the middle of the project time frame, a lawyer-approved social media contract template from Bonsai will provide recourse if the professional relationship falters. Contracts can also ensure you receive payment.
Also Read: Hire Social Media Manager | Everything you must know
Mistake Two: Neglecting Company Culture
A digital business may not spend as much time on creating a company culture, but they absolutely should. Your remote employees are still people who have future career goals and specific needs that must be addressed before they move on to another opportunity.
Almost 50% of employees will quit within the first year if they notice the business they are working for has a low company culture. Productivity and happiness are lower in places with weak company culture, as well, as employees are 12% more productive when they’re happy.
Employers can use these tips to help build a positive corporate and company culture,
- Emphasize your employees’ well-being by creating tools and resources they can access if they’re feeling unwell physically, mentally, or emotionally.
- Grow the current culture instead of scraping everything. Too much change can make your employees feel uncomfortable or lost.
- Provide meaning by creating mission statements and core values.
- Encourage positivity by expressing gratitude to your employees.
- Create tangible goals for each individual employee and team project.
Ensure your employees are speaking to one another and listening in for feedback. Empowering everyone in your company will take effort, but it will significantly benefit your business.
Also Read: Culture index survey | A comprehensive guide
Mistake Three: Taking On Too Much Work
At the start of your marketing business, you may take too much work all at once. You’re doing this to expand your company as quickly as possible, but this often leads to burnout and disappointed clients. If someone else can do 80% of what you can do, delegate it. As the owner, you have a vision you want to accomplish, and that can’t happen if you’re drowning in work.
Mistake Four: Not Knowing Your Limits
There are plenty of things you can learn on the job, but that can take days, weeks, or months depending on the task. If you’re positive you can’t do something, accept it and pass the work off to someone else. Hire another employee that can take on that aspect of the job or ask someone in-house. There are people in your company right now that can wear different hats.
Mistake Five: Ignoring the Data
Every business has to look at the data, whether it’s brand awareness from social media or the amount of money you’re making. One is more interesting than the other, but all of your records need to be viewed regularly to understand what is going right or wrong in your company. Be sure to track the following metrics,
- Overall Website Traffic
- Traffic by Source
- New Visitors vs. Returning Visitors
- Sessions
- Average Session Duration
- Page Views
- Exit Rate
- Bounce Rate
- Conversions Rate
For social media specifically, you may also want to look at impressions, social reach, social engagement, email open rate, click-through rate, and overall ROI.
Also Read: Hire Data Analyst | A comprehensive guide for beginners
Mistake Six: Keeping Bad Clients
Avoid bad clients like the plague because they’ll just cause you and your team a massive headache. Even if they’re high paying, it’s still against your best interests to curtail a bully client or keep on a paying customer who doesn’t believe you provide value. Speak to each client beforehand to understand their personality, how they handle criticism, and their overall attitude.
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