There are many online businesses that have been thriving in recent years. Drop servicing is one of these. Drop servicing refers to the practice of selling a Digital Marketing Services to a client for a certain price, for example, $100. After getting the project from the client, you then hire someone else (such as a freelancer) to provide the service for the client at a lower price, for example, $50. The difference between the two – that is, $50 will be your profit.
Drop servicing is sometimes also known as service arbitrage, as you can arbitrage the difference in price between what the client is paying you for the project and what you are paying to your freelancer for rendering the service.
The most crucial part of launching your drop service business is the niche you choose. There are several niches you can choose from, including writing, audio, and music, blogging, backlinking, and others. One of the top drop servicing ideas for 2020, though, has been digital marketing.
Let’s take a look at the lucrative field of digital marketing services and how you can benefit by choosing this as your drop servicing niche.
Digital Marketing as a Drop Service Business
Well, first things first – what is digital marketing? We already know that we are today very much living in an online world. To keep up with the rapid pace of this online world, businesses need to shift their marketing tactics to adapt to the online strategy. Simply put, digital marketing means utilizing digital media platforms for selling your products or services.
Digital marketing services is all about the use of a variety of customized digital media channels to grow your business, improve your brand awareness, create and add value, and to promote your products and services.
Some people tend to get confused between digital marketing and social media management. The important thing to realize here is that digital marketing is an umbrella term that includes all types of marketing activities that a company or brand carries out digitally for the promotion of their services or products. Social media marketing or management, on the other hand, is just one of the channels of digital marketing. Social media only focuses on marketing on social media platforms such as Instagram, Twitter, Facebook, etc.
At the same time, the key difference between the two is that digital marketing also involves the use of paid advertisements on the various marketing channels. A good example of this is Google Adwords, Facebook paid ads, LinkedIn paid ads, etc. With more and more businesses moving online and wanting to create magic for their brand name, digital marketing has become one of the top drop servicing ideas of 2020. It is something you can consider starting right away.
Digital marketing also has a lot of potential under it, and you can decide to choose some or all of the following services under this niche:
- Google Ads
- LinkedIn Ads
- Social media marketing such as Facebook campaigns or LinkedIn campaigns
- Video marketing
- Instagram Ads
- Lead generation
- YouTube marketing
- Search Engine Optimization
- Content marketing
- Email marketing
- Paid social media marketing
- Website analytics
- Content creation Affiliate marketing
- Display retargeting
- Video hosting
- Content curation
Pros and Cons of Choosing Digital Marketing
Just like any other field of work, there are certain advantages and disadvantages to choosing digital marketing as your drop servicing niche. Here are some of the clear benefits of adopting digital marketing.
- You can offer a bouquet of services: The digital marketing niche is massive and contains so many services that you can decide to offer a wide variety of services. You also have the opportunity to provide service bundles and other lucrative offers to club together with some services such as Facebook and LinkedIn campaigns together. This allows you to get more clients and increase your earnings.
- Longer partnership with clients: Since the field of digital marketing is such that often the same ad campaign is run on multiple social media platforms, many businesses prefer to have one agency or one person handling their digital marketing profiles. This gives you the opportunity to get longer duration projects that are spread over several social media platforms. This can help you build long-term partnerships with your clients.
A potential drawback of selecting digital marketing as your drop servicing niche may include:
- Working within a tight budget and yet delivering results: Digital marketing typically focuses a lot on paid ad campaigns across various social media platforms such as Facebook, Instagram, LinkedIn, etc. Often, clients are unwilling to spend too much for their ad budget, and it can become difficult to run campaigns and deliver results while staying inside a tight budget. This is why it is always better that you discuss this with your freelancer and your client beforehand. You should also have it clearly written out in the contract about what the client budget is and what you shall deliver within that budget.
Platforms for Outsourcing your Drop Service Business
If you have decided to go ahead with digital marketing as your drop service niche, then the next step would be to find the right freelancer. As digital marketing is a fast upcoming field, it is relatively easy to find freelancers who are experts of this field. It is also an extremely competitive field, so you are bound to find someone in your budget easily.
Here are some good freelancing sites where you can find digital marketing experts:
- Upwwww.upwork.comork: One of the most popular freelancing platforms of today, you can easily find digital marketing freelancers on this site. Upwork has several tools for employers that allow you to shortlist candidates and review their proposals.
- Fiverr: Another award-winning freelancing platform, the Fiverr marketplace, helps you find the best digital marketing talent. You also get complete access to a freelancer’s professional history, including previous feedback and rating.
- Toptal: Toptal is a relatively new freelancing platform, but it is already a hit with businesses that are looking for digital marketing specialists. Freelancers on this site are fluent in English.
Summing Up
The world is becoming increasingly social, and you want to be in a niche that can place your business right in front of people to help you expand your reach globally. For such a purpose, selecting the digital marketing – the top drop servicing idea of 2020 as your niche is a must for your drop servicing business.