Greetings, intrepid entrepreneurs and marketing mavericks! I am thrilled to announce the official launch of The Launch Pad, your one-stop shop for all things marketing. This blog will serve as a platform for insights into the marketing world and all things related to starting a new marketing agency. This is a first for me so no doubt there are numerous challenges and lessons that lay ahead.

So, where do I start? Seems like asking a Large Language Model (LLM) like BARD (now called Gemini which is Googles version of ChatGPT) might be a good option considering it is the biggest talk of the town at the moment. So, here goes….

When I asked Gemini about the biggest challenges faced by new marketing agencies here’s the reply:

  • Establishing credibility: Building trust and proving your worth can be tough when you're new and haven't had the chance to showcase a proven track record.
  • Standing out from the crowd: The marketing space is saturated with established agencies, so it's crucial to develop a unique value proposition that sets you apart.
  • Limited resources: Building a brand and attracting clients requires investment in marketing itself. This can be especially challenging for startups with limited financial resources.
  • Staying ahead of the curve: The marketing landscape is constantly evolving, so staying informed about the latest trends and technologies is crucial for success.

To be fair, its pretty accurate bar a few key lessons I’ve learnt:

  • Identifying a particular niche to target: As said above, the market is flooded with marketing agencies and often the mistake that is made by new agencies/marketers is a shotgun approach as to who to target. I’ve personally applied this to other businesses and have failed miserably. Having a more targeted niche enables you to hone in on certain shortfalls and opportunities that others might not be aware of. I’ve found that by concentrating on a particular niche, I have a far more strategic and targeted approach which has lead to far greater results.
  • Using the amazing technology available: It has never been easier to be a creator. There is a software programme for just about anything these days. The value of knowing how to use these technologies is so underrated and undervalued. The best part is that there are hundred of tools that are free making it ideal for low budget/capital restricted marketers.
  • Understanding what mediums you intend to use: There so many ways to market products/services and I’ve often got caught up on trying to do everything right off the bat. BIG MISTAKE. This will cost you dearly, whether it be by not being able to fulfil the service due to your lack of skills or needing to spend money on assistance in the immediate term to mitigate losing a customer. If you understand the basics of the services you offer and how they work, you put yourself in a position to avoid any potential issues and risks in the future.
  • Spending money on unnecessary tools: Whilst there are a multitude of free tools, I often found that I fell into the trap of spending money for extra services for which I did not need. It is critical to understand what is needed vs what you can afford. I found that by creating a realistic financial plan, it enabled me to understand the limits to which I could spend for the business monthly. Not only did this reduce unnecessary spending but it increased my profitability.

Now, I am sure there are many other topics that can be highlighted but these are the top lessons I have learnt time and time again. Unfortunately, or fortunately, these are lessons that all will face in some way shape or form. 

Remember, the path to a successful business is fraught with challenges but it is how you choose to overcome them that will be the maker or breaker of that success.

So thats my 2 cents for the day! Peace out fellow explorers!