Business Feasibility Plan
· Business Idea Identification
My business concept is virtual marketing endorsement to physical stores and optimizing sales through a virtual marketing agency. The venture will be a website that includes different marketing packages to be purchased including web development, sales optimization, e-store creation, and web content. My main clients are business owners who are in the sales business. Also, start-up ventures and non-profit organizations are potential customers.
What is unique about our products is the marketing optimization. Most people who are in the product development business as product owners lack marketing skills. Our specialty is to optimize and reach the product customers using search engine optimization marketing via Google, Internet Explorer and Google Chrome search engines. We believe that people will have an interest in our modern web designs and marketing skills. For those who are in the sales business, we provide electronic stores creation products that help your customers to view your products via their screen and purchase it instead of going to the store. For all these advantages, we believe in the quality of our products.
· Market Research
According to StartLand newspaper, Kansas City’s home for innovation news: The top ten startup companies generate a revenue of 150 million. Most of these companies are operated by 30-15 employees only which is the same estimate of our agency work structure. This is a great potential market size for marketing firms and partnership opportunity as well. Furthermore, our main competitor is Kansas City SEO company which is the most trusted virtual marketing company that specializes in virtual marketing and search engine optimization services. Our product uniqueness is the lower price compared to the offered services which range between $100- $50. This price range is affordable for startup business owners to promote their products and optimize their sales.
Most business owners lack knowledge of internet marketing and sales promotion using social media platforms. Our Agency products specialize in sales optimization using ad words and social media advertising campaigns. This approves the viability of our product and makes it unique in the market along with the lower prices.
· Management Team
In order to start this business, it requires chief technology officer that can mange our agency website and receive the customers’ orders. Also, we will need expert web developer specializes in WordPress and SEO marketer. This is because our best products are in web development and sales optimization. A CTO and web developer should be in the staff members. Meanwhile, the CEO manages the work structure and hires the right people to enhance our agency productivity. My rule will be the Human Resources Director. My mission is to develop the productivity of the employees and raise awareness of the internet marketing values to start-up businesses owners through events and Ted talks. Also, we have other web designers and graphic designers to market our social media platforms such as Facebook, YouTube, and Instagram.
The potential expertise needed at start-up and through the first year is one year of experience in web development and social media development. These two fields are enough to produce five of our agency products. There will not be many requirements needed at first as our clients’ expectations of the service delivery are at their beginning. Furthermore, the agency will be at the first level of revenue creation.
The business deal will begin with interpersonal communication with the client to observe the product requested and instructions provided to ensure the devilry quality. Also, there will be a customer service number provided for further virtual assistance and business-related inquiries. Once the product is purchased by the customer, the order will be transformed to the web developers or the social media marketers. The process of building a website, electronic store, or social media platform will begin. We will optimize the sales of the store products or increase the ranking of the website on Google search engines to guarantee the best products quality.