Business plan for Edgelot Digital Agency

Industry Overview

What is Growth Marketing

Growth marketing in its simplest term is the process of leveraging on human intelligence and data driven digital technology to market goods or services.

When the classic ways of digital marketing are no longer sufficient. Standing still is like going backwards in the marketing industry, hence the need for the evolution of new ways of dealing with marketing.

Growth marketing is the new norm for the marketing industry. It is marketing viewed and executed in a different way. Less input, more output. More targeted communication and making things that seem impossible, possible.

With a combination of a creative mindset and digital tools, a growth marketing strategy can project your business to the next level. Traditionally, marketing efforts have been separated from the product, with the marketing department isolated from other aspects of the business. Today, growth marketing is integrated seamlessly within product development.

Growth marketers must dig in and immerse themselves in the growth metrics that matter.

The Growth Marketing Industry is indeed a very large and innovative industry and pretty much thriving in all parts of the world especially in developed countries.

Over and above, Growth marketing has become an important tool for promoting businesses as it relates to products and services all over the world, not only to sell to customers, but also to engage them. It is now easier for organization to expand their market from local level to national and even international markets with minimum capital investment.

Today, its a common goal of every modern business to have the seeds of growth marketing planted in every process of their customer discovery.

Growth marketing activities are:

  1. Search engine optimization (SEO)
  2. Search engine marketing (SEM)
  3. Customer Experience Modelling
  4. Content marketing
  5. Content automation
  6. UX/UI Design
  7. e-commerce Development
  8. Social media marketing
  9. Display advertising

It also extends to non-Internet channels that provide digital media, such as mobile phones (SMS MARKETING, callback and on-hold mobile ring tones et al.

Executive Summary

Edgelot Digitial LTD is a Nigeria based growth marketing agency built to serve the needs of founders, business owners, entrepreneurs and organisations . We are the growth partner that every Nigerian business needs to scale on the strength of mass appeal. 

Having growth as our very own sign of nature (signature), we are sprouting to compete, disrupt and champion the highly competitive marketing industry in Nigeria.  Our client base will not be restricted to just businesses and organizations in Nigeria only, we will leverage on the strength of the digital cyber space to spread our services across the corners of the world. 

We will offer services such as search engine optimization (SEO) | banner advertising | video advertising | rich media advertising | sponsorship advertising | classifieds/directories | lead generation | mobile messaging | email Marketing | digital display advertising | mobile advertising | social media management | Customer Experience Modeling  and other related consulting and advisory services.

We’d also integrate a growth marketing academy into our services.

Our business goal is to become one of the leading marketing agencies in Nigeria with high profile corporate and individual clients scattered all around the world. Our workers are going to be selected from a pool of talented and highly creative digital experts.

We will make sure that we take all the members of our workforce through the required training that will position them to meet the expectation of the company and to compete with leading Agencies in Nigeria and throughout the globe.

At Edgelot Growth Agency LTD,  We are putting our clients experience first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Edgelot Digital LTD, is founded by Ejumah Daniel Eleojo. He graduated from Tansian University, Umunya Anambra with BSc in Computer Science and he has a combined experience that navigates around market researching, Copywriting, web designing ( Html, php, WordPress, Joomla, Magento & shopify) , graphic designing, Web scrapping, corporate branding and advertising and business management et al.

Our Product and Services

EdgeLot Digital LTD, was established with the aim of maximizing profits in the Growth Marketing industry. We want to compete favorably with the leading marketing agencies in Nigeria and the world.

 Our products and services are listed below;

  • Search engine optimization (SEO)
  • Digital Advertising
  • Online Reputation Management.
  • Social Media Management
  • Classifieds/directories
  • Customer Experience Modeling
  • Web Designing
  • Other related digital marketing advisory and consulting services

Our Mission and Vision Statement

  • Our vision is to establish a standard growth opportunity for every creative venture.
  • Our mission is to provide professional and highly creative result oriented growth marketing services while delivering the most compelling experience possible.

Our Business Structure

Edgelot Digital LTD, is a growth marketing agency that intend starting small in Nigeria, but hope to grow big in order to compete favorably with leading agencies in the industry both in Nigeria and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to hiring only the best hands within our area of operations.

At Edgelot Digital LTD, we will ensure that we hire people that are qualified, hardworking, creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the Owner, Investors, Workforce, and Customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of three years or more as agreed by the board of trustees of the company. In view of the above, we have considered hiring qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Creative Director
  • Digital Marketing Specialist
  • Sales and Marketing Executive
  • Accountant
  • Web Designer cum Graphic Artist
  • Content Creator / Online Traffic Generator
  • Client Service Executive

Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Creative Director:

  • Serves as project manager of the organization; works directly with employees
  • Responsible for designing concepts and winning business proposals for the organization
  • In charge of copy writing and laying out chronological advertisement plans
  • Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
  • Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
  • Maintains quality service by establishing and enforcing organization standards.
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Makes certain that operations and marketing department perform efficiently, coordinate employee efforts, and facilitate communications between management and employees
  • Ensures that the organization work in line with  best practices.

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Creates new markets cum businesses for the organization
  • Empowers and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Edgelot Digital LTD.
  • Serves as internal auditor for Edgelot Digital LTD.

Web Designer cum Graphic Designers

  • Liaises with clients to determine their requirement and budget
  • Responsible for Optimizing Website Functionality for owners of existing websites
  • Responsible for Search Engine Optimization Services
  • Responsible for developing concepts, graphics and layouts for product illustrations, company logos, and websites
  • Responsible for managing client proposals from typesetting through to design, print and production
  • Responsible for preparing drafts or material based on an agreement brief.
  • Researches and advices the organization on style, genre and other trendy info as it relates to social media marketing.

Content Creator / Traffic Generator

  • Responsible for creating content / buzz words that will help attract traffics
  • Responsible for Search Engine Optimization (SEO)
  • Responsible for engaging internet users to get help statistics and leads
  • Liaises and works effectively With other staff members to generate sales for our clients

Client Service Executive

  • Welcomes clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the creative director in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns, etc; to ensure accurate and helpful information is supplied to clients when they make enquiries.

SWOT ANALYSIS

Here is a summary of our SWOT analysis

  • Strength:

Our core strength lies in the power of our team; our workforce. We will be having a team of creative, result driven and highly proficient digital marketing expert, a team with excellent qualifications and experience in various niche areas in the industry and other related industry.

Aside from the synergy that exists in the structure of our business, we are going to harness the power of aggressive and focused marketing with clear goals & strategies.

  • Weakness:

As a new Growth marketing agency, it might take some time for us to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive industry; that is perhaps our major weakness.

Another weakness is that we may not have the required resources to pump into promoting our business especially via main stream media the way we would want to.

  • Opportunities:

No doubt, the opportunities available in the growth marketing agencies industry is massive considering the number of individuals and corporate organizations with active presence on the internet and of course the pretty large numbers of people who visit the internet / social media platforms on a daily basis and own mobile phones / smart phones and other related gadgets.

As a standard and world class marketing agency, we are ready to take advantage of any opportunity that is available in the industry.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects the growth of startups and even existing businesses. Another threat that may likely confront us is the arrival of a new marketing agency or even an existing marketing company in our geographic area who may want to adopt same Business model  like us.


MARKET ANALYSIS [GROWTH MARKETING]

  • Market Trends

No doubt, the Digital Growth Marketing industry has benefited from the rapid switch from traditional print advertising to digital marketing, this switch in market is currently fueled by the change in human tradition as a result of the global pandemic ” COVID 19″. 

More and more people are gradually adapting to the habit of making transactions on the internet, hence the need for business owners to adopt a digital approach for business growth and sustainability.

There is a current surge as most brand consumers now use the digital medium to make transactions, businesses have purchased website traffic digital advertising services to build brand awareness across multiple screens and platforms.

This has indeed changed the ways that organizations approach to interact with customers, as a substantial percentage of consumer interactions and profiling are now being carried out over online and social media platforms with much higher visibility.

In as much as growth marketing is dependent on human intelligence and technology which is ever-evolving and fast-changing, the same changes should be expected in how business growth and development agencies evolve.

Another important factor worthy of mentioning in this industry is that the target market keep expanding, people and organizations are now seeing the need for them to have an official website and also to engage the services of digital growth marketing experts either in branding or packaging their products and services or in helping them directly sell their products and services to their targeted market.

Another common trend in the marketing agencies industry is that, most growth marketing firms no longer settle for clients within the location where their physical office is located but also from any part of the world. The truth is that with the advent of the internet, it is now easier for a digital marketing agency to work for clients in any part of the world.

A digital marketing agency can be located in Nigeria and have their biggest client in United Arab Emirates or in the UK. Many thanks to the power of the internet which has brought the world closer to us. Lastly, the digital marketing agencies industry will continue to evolve due to the advancement of technology.

Our Target Market

Before starting our growth marketing agency, we are certain that there is a wide range of both corporate and individual clients who cannot successfully run their businesses without the services and support of a standard digital marketing agencies; a company that can help them reach out to their target market.

In view of that, we have created strategies that will enable us reach out to various corporate organizations, non – profits, government agencies and individual who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that we meet and surpass the expectations of our clients.

Below is a list of the people and organizations that we will specifically market our services to;

  • Financial Institutions
  • Corporate Organizations
  • Transportation Firms
  • Manufacturers and Distributors
  • Real Estate Owners, Developers, and Contractors
  • Research and Development Companies
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Hotels
  • Celebrities, Politicians, Public Figures and Public Speakers
  • Sport Organizations
  • Religious Organizations
  • Political Parties
  • Health Institutions
  • Photography Creatives
  • Aspiring celebrities
  • Entrepreneurs and Start – Ups

Our competitive advantage

Surviving in the business world as a growth marketing agency requires more than, your expertise, knowing how to conduct your business but also how to network with key people that matter; decision makers that can decide who will get a contract or a business deal.

We are quite aware that to be highly competitive in the growth marketing industry means that you are not only expected to be able to deliver consistent and excellent services, but you must be result driven and able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target sales the organization intends to generate when they hired you.

Our competitive advantage lies in the power of our team; our workforce. We have a team of creative, result driven and highly proficient marketing experts, a team with excellent qualifications and experience in various niche in the marketing industry and other related industry.

Aside from the synergy that exists in our process of selecting digital marketing experts, our services will be measurable, result driven and guided by best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category. This will activate their sense of enthusiasm towards the company.

SALES AND MARKETING STRATEGY

We are mindful of the fact that there is stiffer competition in the global marketing industry; hence we will be using some of the best marketing strategies to handle our sales and marketing.

Our sales and marketing team will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Edgelot Digital.

Edgelot Digital LTD is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our growth marketing agency by sending introductory letters alongside our brochure to individuals, corporate organizations, government agencies, non – profits, religious organizations and key stake holders.
  • Promptness in bidding for digital marketing contracts from the government and other cooperate organizations
  • Advertise our business in relevant business publications, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for categories of clients in order to work with their budgets and still deliver excellent design and services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • organize regular training and digital bootcamps.
  • Encourage word of mouth marketing from loyal and satisfied clients

Publicity and Advertising Strategy

We have been able to map out publicity and advertising strategies that will help us walk our way into the heart of our target market. 

Below are the platforms we intend to leverage on to promote and advertise Edgelot Digital LTD;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations, non – profits and government agencies by calling them up and informing them of Edgelot Digital LTD and the services we offer
  • List our growth marketing agency in local directories / yellow pages
  • Advertise our growth marketing agency in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts.

Our Startup Budget and Expenditure

As for the detailed cost analysis for starting a growth marketing agency; it might differ in other countries due to the value of their money. However, this is what it would cost us to setup Edgelot Growth Agency in Nigeria;

  • Business incorporating fees with CAC will cost – N40,000
  • The budget for Liability insurance, permits and license will cost – N50,000
  • Acquiring an office space  for one year at least will cost – N300,000.
  • Equipping the office (computers, printers, projectors / internet facility– N300,000
  • Amount required to purchase the needed software applications – N100,000
  • Launching an official Website will cost – N100,000
  • Amount need to pay bills and staff members for at least 3 to 4 months – N250,000
  • Additional Expenditure such as Business cards, envelopes, Letter head, stamp and Signage will cost – 150,000
  • Advertisment budget for 3 months – N150,000
  • Miscellaneous – N100,000

Going by the report from the market research and feasibility studies conducted, we will need about One million, forty hundred and ninety thousand naira (1,540,000) Naira to successfully set – up a medium scale but standard growth marketing agency in Nigeria using a lean startup process.

Why we adopted a Lean Startup Process.

It starts with risk management.

That’s why we are adopting a lean startup methodology for the growth and development of Edgelot Digital LTD —A lean Startup process will help us navigate and minimize risks through minimum viable products (MVP’s), rigorous experimentation, and a commitment to learning.

At its core, adhering to the lean startup methodology will help us create a sustainable business with minimal waste of both time and money.

By employing lean startup principles, we can gauge our customers interest in each of our services and determine how our low converting offers can be refined. This process is called validated leaning and it can be utilized to avoid the unnecessary use of resources.

Financial Projection

  • Sources of Income.

Edgelot Digital LTD will generate income by offering the following digital growth marketing services and other related services;

  • Search engine optimization (SEO)
  • Banner advertising
  • Video advertising
  • Rich media advertising
  • Sponsorship advertising
  • Classifieds/directories
  • Lead generation
  • Sales of digital products
  • Mobile messaging/email
  • Digital display advertising
  • Mobile advertising
  • Social media management
  • Grow marketing training
  • Other related digital marketing advisory and consulting services

Sales Forecast

One thing is certain, there would always be corporate organizations, government agencies, non – profits and individuals who would need the services of growth marketing agencies to help them increase sales or promote their brands.

We are well positioned to take on the available market in the growth marketing industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operations can grow our Edgelot Digital LTD to enviable heights.

We have been able to critically examine the digital marketing space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection are based on information gathered on the field and some assumptions that are peculiar to similar startups in Nigeria.

Below is the profit projection for Edgelot Digital LTD, it is based on the location of our business and of course the wide range of our services and target market;

  • First Fiscal Year-: N2,000,000
  • Second Fiscal Year-: N6,000,000
  • Third Fiscal Year-: N10,000,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same digital marketing services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Generating Funding / Startup Capital for Edgelot Digital LTD

Edgelot Digital is a business that will be owned and managed by Ejumah Daniel Eleojo. The sourcing of the start – up capital for the business will be narrowed to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings.
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from Stocks et angel investors).

N.B: We have been able to generate about N400,000 (Personal savings and soft loan from family members) and planning to get another in December 2020.

Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business will close office.

One of our major goals of starting Edgelot Digital LTD is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our marketing services and other related advisory and consulting services a little bit cheaper than what is obtainable in the market while delivering services that exceeds our customers expectations. We are well prepared to survive on lower profit margin for a while.

Edgelot Digital LTD will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our Investors and management staff and it will be based on their contribution and performance for a period of two years or more as determined by the board of the organization. .

Check List / Milestone

  • Business Name Availability Check: Completed [edgelot Digital]
  • Business Incorporation: In Progress
  • Opening of Corporate Bank Accounts: In Progress
  • Opening Online Payment Platforms: Completed
  • Google My Business Profile Listing: Optimized
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility in a good location: In Progress
  • Application for business license and permit: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: In Progress
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In Progress
  • Creating Official Website for the business: Completed
  • Creating Awareness for the business: In Progress
  • Establishing business relationship with vendors and key players in various industries: In Progress

Digital Resources Purchased

  • over 1350 Premium WordPress Themes From Themeforest Market
  • SERP DIGGER 2020 for  Scrapping Targeted Emails Online.
  • Over 45 Premium Website Plugin From Code Canyon
  • 2 Year Seed4me VPN Subscription
  • incogniton app
  • Jarvee
  • magento siteanalyzer

Below is the link to Edgelot Digital LTD Website.

www.edgelot.com