Marketing is the activities a company does to reach out with its offerings to customers and potential customers.
What is marketing?
Marketing is strategic activities that companies carry out in order to capture new customers and retain existing ones. It is about arousing interest, giving the company an external face and creating good customer relationships with the help of everything from various events to advertising and digital presence.
What are the types of marketing?
There are several different types of marketing. Mass marketing is a classic type of marketing and can be, for example, advertisements in newspapers, TV or radio.
Digital marketing is another type of marketing that one does online.
1. The website
The website – The expression you do not see exists you do not weigh heavily when it comes to entrepreneurship. All customers google before making a decision, so make sure you have an updated website.
Try to understand the questions your customers have before making a purchase decision and answer them simply and clearly on the website.
2. SEO or search engine optimization
SEO or search engine optimization is about getting high up in the rankings of organic searches. The goal of SEO is to appear as high as possible in the search results at Google when googling relevant to your company.
To end up high, you should write texts that contain the words that customers Google on, as Google wants to give its users as relevant an experience as possible.
Mobile-friendly websites with SSL certificates are awarded by Google.
SEM is about advertising on words that customers search for. Google’s advertising service is called Google AdWords. Working with SEO is more long-term, as you compete with other websites for organic searches.
When you work with SEM, you pay to be seen on the googled words.
4. Social Media
Social media has increased the possibility of reaching out, but it is important to think about to reach through the noise. To arouse interest in your target group, it is important to offer knowledge and inspiration instead of just posting offers.
In this way, you build trust and brand awareness about your company. Facebook and Instagram have long been popular channels, but in recent times LinkedIn is emerging as a challenger for entrepreneurs who want to reach out.
Newsletter – Sending out newsletters is a popular way to build and maintain the relationship with existing and future customers.
The first thing you need to do to get started is start building a directory of addresses. This is something you should work on continuously.
To reach out with your message and not be perceived as a spammer, you should offer knowledge, tips and information.
Of course, you can send with offers for products or services, but if the newsletter only contains advertising, it often ends up in the trash or you risk the recipients unsubscribing.
Other important factors for success are continuity, daring to test different kinds of content and be careful that the subject line attracts reading.
Why should you market your business?
Customers and sales are a prerequisite for a company to go around. And for your business to get customers, people need to know about it.
Therefore, you need to spread the word about the company and what products or services it offers – that is, market it.
It is a long-term job to both acquire new customers and remind existing customers so that they shop again.
Some form of marketing is basically a must to establish a business, keep it in the market and make it grow.
Who should the marketing be aimed at?
A basic rule for successful and effective marketing is that it is aimed at the right people. Therefore, it is important to do a thorough preparation and as carefully as possible specify the target group for your product or service.
That knowledge is what should form the basis for how, where and when you do your marketing.
The clearer the image of the target group, the greater the chance of doing good and accurate marketing.
When should you market your business?
Marketing is a fresh product and something you need to do continuously. But at certain times it is extra important and then more and / or greater efforts may be required.
This can be, for example, when the company is newly started, in connection with campaigns and the release of new products or before the high season.
How to create good marketing?
The starting point for creating good marketing is to know your product, your market and your target group. You need to understand what the customers are asking for and in which channels you reach them.
When you know that, you can then adapt your marketing so that it falls within that framework and creates value for your customers.
Furthermore, it is also important to have a clear goal and know what you want to achieve with your marketing.
Also, do not forget to always follow up on your various efforts and evaluate what actually works and what does not.
What is good marketing?
Good marketing catches the target group’s attention.
And it generates some kind of profit for the company – financially or in the form of interest, trust and good reputation.
The marketing of the future
There is no doubt that it is on the Internet that a larger part of the marketing of the future will take place.
At the same time, interest in print media is declining. Digital marketing is therefore the marketing of the future.
Being visible online through various channels will be a necessity for most companies to be able to compete.
This can mean, among other things, that:
- Increase traffic to the website
- Write a blog
- Advertise online
- Release videos on YouTube
- Be active on social media
- Use affiliate marketing
- Make use of newsletters
- Here are some examples of how important it is to market yourself online:
- Over 78,000 searches are made on Google per second.
- 75 percent use social media daily.
- It is around 129 times as expensive to reach 1000 people via print media compared to Facebook Ads.
- Small and medium-sized companies that have a blog get almost 129 percent more leads than those that do not have a blog.
- 82 percent of Internet users trust what they read in blogs.
- 7 out of 10 people state that they prefer watching video online compared to watching TV.
- The market for digital advertising is worth around $24,9 billion per year.
- The digital advertising market in Europe has more than doubled in seven and a half years, and is growing exponentially.
Be clear in your marketing
All your marketing must comply with the Marketing Act and you must design it so that it is clear that it is precisely marketing and not information, facts or anything else.
It must also be clear who is responsible for the marketing and it must not be misleading. The purpose of the Marketing Act is to counter misleading and aggressive marketing.
What is misleading marketing?
Marketing is misleading if it does not contain important information, provides incorrect information or if the information is unclear.
It can also be a matter of misleading marketing if the important information has been provided in a vague, incomprehensible, ambiguous or other inappropriate way.
What information do you need in your marketing?
The Marketing Act contains requirements on what marketing may look like and what information it must contain.
The information requirement means that you must provide information in your marketing that may be of particular importance to a consumer, such as information about the product’s content, properties and price.
The law does not contain a complete list, but it is up to you to make your own assessment.
Prohibited marketing methods in the Black List
The Marketing Act contains a so-called black list of 31 prohibited marketing methods.
Anyone who violates any of the 31 bans risks having to pay a market disruption fee of between $500 and $1 million.
In summary, it can be said that clarity is recurring in the law – you must not use misleading and aggressive marketing to influence consumers’ ability to make an informed business decision.
When do you need to market?
If you sell goods or services, always keep communication with the market open so that you do not miss new customers and business. Or rather: so that they do not miss you.
There are also some occasions when it is especially important to think about how you communicate with the market.
Here are some examples:
- You start a completely new company (a new store, a new café, a new website where you can buy goods / services).
- You have developed a new product.
- Your company launches a new service.
- You have a few large customers, and your company’s survival depends entirely on them staying.
- Your market seems to be shrinking. Example: A previously loyal target group begins to grow away from your goods / services in terms of age.
- You have too many small customers and it takes a lot of time “between” those for whom it is difficult to charge.
- You’ve lost customers.
- You have a new partner. The new collaboration can be interesting for your customers, or attract a new target group.
- New partners in the company. For your customers, it may improve your image.
How should you market?
How you do it depends mostly on:
- The offer – what goods / services you sell
- The customers – where the customers are and who they are
- Budget – how much money and / or how much of your time you want to invest
- The goal of marketing – that you want to sell more of course, but you may also want to take the opportunity to profile the business as an environmentally friendly company or as a young, fresh company with a cool attitude? Or maybe as a traditional family business dating back to the turn of the century?
Then? Say you succeed in your marketing, what happens then?
Then you can start selling and then it is important that your goods and services live up to what you promised in your marketing.
It also applies that customers like your range, your service and your prices.
Brand positioning, corporate image and such?
Yes, it is also important. If the company is well established, you may have started to think about your brand’s position in the market and in relation to your competitors.
How your company’s image is perceived and how your customer relationships work.
Then it can be good to bring in some outside help to discuss the situation and get ideas on how you can move forward.
Marketing – more than just advertising
Now that you’ve made your marketing strategy and set the marketing plan, you must not forget under any circumstances that marketing does not only consist of advertising campaigns, trade fairs and advertising – but it is part of everything the company does.
Good and well-thought-out marketing permeates the entire company.
Your external marketing quickly but surely loses credibility if other aspects of the company do not maintain at least the same quality.
Specifically, this means everything from having a nice website and logo, professional invoices to it being clean and tidy in the premises and in the customer toilet.
Customers and staff – your most important marketers
Your most important marketers are the customers and the staff. One of the biggest reasons why a customer does not return is dissatisfaction – it can be that they have been treated badly or run into bureaucratic hassles.
Their dissatisfaction usually does not stop there, but spreads to family, friends and acquaintances. And God forbid: Social media and the internet.
I save the most important thing in the end – the staff. Take care of your staff and include them in the company’s vision and brand promises.
Namely, they are very much involved in the company’s marketing.