2020 was a difficult year for everyone across the globe for a variety of reasons. Being cooped up at home for weeks, forced to stop doing a lot of the things that bring us joy topped with the loss of jobs has really taken a toll. The fact that we can’t visit friends and our favourite hangouts like gyms and restaurants, hasn’t helped matters either.
However, this article is designed to bring you some level of positivity and motivation, so there’s no need to dwell on the past, now is the time to anticipate the future.
It makes a lot of sense to highlight the things that impacted you the most career-wise and financially. Then you can start working on ways to make adjustments so that you’re not only less affected by the new changes brought on by the pandemic but actually use them to your advantage.
The coronavirus has greatly influenced buyer habits, has increased online purchasing by 33%, shifted our psychology towards spending, and changed people’s opinions towards digital and remote working.
Presently, the ease, global reach, as well as pandemic-proof nature of eCommerce is encouraging lots of people to launch their own online businesses. Likewise, the cost-effectiveness of working from home has led to many companies now preferring to outsource jobs like marketing and content creation.
These newest trends have made a career in social media marketing even more viable as a business opportunity, which makes NOW the best time to start your own social media marketing agency (SMMA).
So why is now the perfect time to start?
The surge in New Online Start-ups
According to the statistics released by the United States Census Bureau, about 3.3 million new business applications were filed this year alone. Compared to the 2.6 million filed last year, that’s a whopping 27% increase.
An investigation by The Guardian revealed that most of these businesses started during the pandemic era, were launched by corporate white-collar employees. This surge naturally creates an increase in demand for experienced digital marketers… enter SMMA owners. 2020 has made people much more aware of the overall importance of having a strong digital presence, making pitching your service to these businesses much easier.
Opportunity to Work from Home or Anywhere
Before the outbreak, there was widespread awareness about the benefits of starting an online business. However, the pandemic, together with the resulting lockdown highlighted the importance of having a business or job that isn’t tied to specific physical locations.
One of the many benefits of running an SMMA is that they’re fully based online, this allows you the opportunity to work from almost anywhere in the world. The only two requirements a location needs to have is electricity and a reliable internet connection.
More Companies Are Outsourcing To Improve Efficiency
These days, most companies want to operate a lean business. They want fewer in-house staff than ever before.
Now we have noticed that in-house teams tend to be tasked with focusing on the company’s core business functions, and other tasks are outsourced to external professionals or freelancers. In a survey, many businesses explained that besides giving regular staff time to concentrate on their major business activities, they opt for outsourcing to save costs and improve efficiency.
In case you are wondering how large the outsourcing industry is, due to this new shift, here is the answer:
A recent statistic showed that the market size of the outsourcing market is projected to get to $405.6 billion by 2027. Furthermore, roughly 82% of companies (mostly in the pharmaceutical, financial, retail, and transportation industries) outsource their services.
Another stat revealed that of ALL outsourced jobs, digital marketing makes up 34%
Now you see why opening an online marketing agency is a highly lucrative idea.
Older Companies Ramping Up Their Marketing Efforts
The rise in new online businesses has encouraged eCommerce companies to ramp up their marketing efforts. With this, businesses now know, that to keep up with competitors and remain at the forefront of their customers, they can’t afford to not have a solid marketing strategy and a strong team behind it.
It’s not so hard to see why starting an SMMA venture to start in 2021. Aside from the fact that the work helps aid financial freedom and allows you the ability to set up shop anywhere and anytime you want; digital marketing is innovative, allows you to be creative, and is highly motivating.
The daily task of thinking up creative ways to increase clients’ leads and sales is great for someone who loves a challenge and strives for results.
If you’ve been thinking about starting a digital agency, there’s no better time to start than NOW. If you’re looking for the best online business to start, the current economic climate makes SMMA a very good way to go.
Let’s not forget that although, opening an SMMA can be very lucrative, without the latest know-how to jumpstart your success, the possibility of failing is also high.
To learn from the very beginning, visit the Affluent Academy page, where you can watch stories from some of our many students who have had incredible success within their agencies, some of them making upwards of £10,000 a month within three months of launching.