I'm in the process of launching a web design agency and I'm having trouble nailing down a workable business model. My strengths are in landing pages, sales funnels and Wordpress websites – All geared to boost growth using a balance of high-end design, user experience and conversion strategy. My clients are techy savvy (not small 'offline' businesses) and don't need a lot of hand holding. So think experts, bloggers, other digital service businesses/agencies, consultants, etc. Models I've thought of so far: #1 – 'Hire a design team for $X,XXX per month' retainer style model. #2 – Break up our services into packages with clear pricing (eg. Wordpress Site - $X,XXX, Landing Page - $X,XXX) #3 – Charge per project a-la-carte and do not publish pricing. #4 – Specialise and only offer one thing (eg. High converting landing pages) My question is: If you were launching a new agency or digital service business, what model would you use?
Start with #4, for 5 reasons: You know conversion rate optimization (CRO); your target market *needs* conversion help; CRO is a high-priced service; you can do the strategy, implementation, and training required to get it done; and CRO lends itself to value-based pricing as you build your track record in the niche.
You'll have an easier time if you become known as a specialist for "bloggers who want to convert traffic to revenue" or "agencies who need to convert website visitors into leads."
You can always add other services in the future, but start with something where you can make a big impact with your existing skillset and where a market need already exists.
Good luck! Glad to do a Clarity call to answer any followup questions; I've advised agencies in 15 countries.