DEVELOPMENT OF DIGITAL MARKETING AGENCY BUSINESS

Abstract

Nowadays, digitization has shifted the way businesses and its consumers interact. Information and communication technologies, especially social media which is now widely used by consumers on a daily basis, has also been a platform for businesses to market and advertise their products and services. Due to the increasing demand and as a growing industry, digital marketing is a market that has a high potential especially in media placement and influencer marketing. In developing the business plan of this project, the strategic plan was formulated by assessing the external and internal environment of the firm beforehand and then the strategic plan is generated by using Internal-External (IE) Matrix and Strength - Weakness - Opportunity - Threat (SWOT) Matrix and the result is that the project is recommended to focus on market penetration and product development strategies. In terms of developing the marketing strategy, the Segmentation, Targeting, and Positioning (STP) framework is used to analyze the market and then the 4Ps Marketing Mix is used to develop the marketing strategy. The feasibility of this project is assessed by using the calculation of ROI, PBP, NPV, and IRR. Based on the assessment, the project will reach its PBP in one year and six months; the NPV of this project is Rp5,770,723,740; the IRR of this project is 73%; and the ROI is 54%, therefore, based on those parameters, this project is feasible.