Selling cheap is a good marketing strategy

Success factor marketing: this is how you win customers!

Marketing: from the target group to the marketing concept

The starting point for any successful marketing is the target group. It makes the difference between economic success and failure. Marketing therefore always begins with the question of which customers you want to reach with your offer. Marketing can be derived from the English "to market", ie "to sell".

Since the needs of the target group, the characteristics and the buying behavior, as well as the competition can change constantly, you should deal with marketing continuously. Marketing is a process that should be continuously optimized, as the following graphic shows.

Once you have identified the needs of the target group and examined the competitors as part of the competition analysis, you can define clear marketing goals that are very important for efficient marketing. Only if you define goals for marketing can you determine afterwards whether they have been achieved.

The strategy then follows the goals in marketing. The marketing strategy should also be checked regularly, e.g. to adjust the positioning. Once this step in the marketing process has also been mastered, the real heart comes: You determine the most optimal marketing instruments and create a marketing concept.

When it comes to marketing tools, you need to decide which marketing measures are best for your target audience. With the marketing concept, you then define a precise plan of when and which marketing measures are to be taken. Of course, you should always keep an eye on the marketing budget! Once the marketing measures have been implemented, you should check which worked and which did not. This is done through consistent marketing controlling. By controlling marketing, you can continuously adapt and optimize your marketing measures.

Before we introduce the main marketing instruments, here is an overview of the marketing process:

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Classic advertising: tried and tested advertising measures

Although marketing is increasingly shifting to the Internet, many classic advertising measures still have an important raison d'etre. Classic advertising in the sense of advertising in radio & television, radio advertising or even poster advertising are particularly interesting for business models in which a brand has to be built.

Tip: With guerrilla marketing or a pop-up store, you can surprise your customers with just a few resources.

Online marketing: many possibilities, but what works?

The fact that online marketing continues to gain in importance is relatively obvious, as the advantages of marketing on the Internet are quite obvious:

  • Relatively simple target group approach: You can e.g. "filter out" customers via search engine marketing
  • Marketing for a small budget: You can test how the individual marketing measures work with a small budget
  • Marketing is measurable: As a rule, the efficiency of the marketing measure is easier to measure than with traditional forms of advertising

Accordingly, online marketing has now become an integral and important part of marketing for many companies - regardless of whether you have a B2C (you sell directly to the end consumer) or a B2B (you sell to companies) business model.

The question that then remains, however, is which instruments to choose when it comes to online marketing. In addition to the now almost established search engine marketing, social media marketing or e-mail marketing, for example, are also becoming increasingly important. The channels you choose when marketing on the Internet also depend on the target group, the objectives and the respective efficiency.

Public Relations: achieving long-term success

Somewhat more specific marketing measures that, if used correctly, also lead to a higher level of awareness, are e.g. sponsoring and public relations (PR), which especially consumer-oriented companies should examine. Both marketing instruments can also be useful if the target customer is a company. Public relations include press work, for example. Read here how to write a press release and how to create the right press distribution list. In our article on corporate communications, you will learn how you can use a communication strategy to build a good long-term image.

Do you want to grow faster and need advice from a marketing expert? No problem - we will be happy to find the right contact for you free of charge!

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Private customers? Note the 4P's and 7P's!

If you want to address consumers with your offer, you should inform yourself in particular about the famous 4Ps, which are an integral part of marketing and answer the following questions:

  • Do the product and the price match your target group?
  • Which distribution channels (place) would you like to use and how should your offer be advertised (promotion)?

You can answer all of these questions with the famous 4P's. If you would like to sell a service instead of a product, the 4Ps also apply here - however, there are usually additional P’s, since certain peculiarities that are relevant for marketing must be observed with a service. This includes, for example, that the packaging is missing or that the service cannot be touched. Learn more about the 7Ps as marketing tools.

Are your customers a company? Build up direct sales!

Companies that one would like to win as customers usually differ significantly from private target customers. With the so-called B2B business models, not only the buying behavior, but also the buying motivation and the purchase decision are different than with "normal" consumers - this must be taken into account in marketing, the so-called B2B marketing.

Since many companies expect a high value on a personal relationship, good advice and reliable service, as a B2B company there is usually no avoiding the establishment of direct sales.

With a B2C business model, it is usually not advisable to set up your own sales department, unless you only address a few customers who you want to look after personally. This is the case, for example, when it comes to capital goods, such as a block-type thermal power station for the home, or more complex services, such as old-age provision.

The right mix makes it: your efficient marketing concept

Once you have determined the marketing instruments relevant to your target group, it is a matter of defining the individual marketing instruments in detail. In other words, you have to decide how much you want to spend on which marketing measure. In addition, you set a time schedule and determine when which marketing measure should be implemented.

The time component is also relevant in marketing because of marketing controlling, as efficiency can be better measured if not all marketing measures are implemented at the same time.

The marketing concept is therefore a central element in marketing - below we explain how you create a good marketing concept step by step.

Build professional marketing - with experts

In Germany, one would tend to hire a marketing or sales specialist and ten engineers for a new company. In the US, it would probably be the other way around. Which model would work better depends on many factors such as the respective target customers and therefore cannot be answered clearly.

It is clear, however, that good marketing is just as important as the product itself. You can build the most innovative product or offer the best service, but if nobody knows it, nobody will buy it! It is therefore important that you think about the actual goal right from the start - selling (and therefore marketing)!

Since efficient marketing is a central element for a successful start, you should take care of a well-developed concept at an early stage. If topics such as target group analysis, market research, marketing efficiency etc. are rather unfamiliar to you, you should seek advice from a marketing professional.

The costs for marketing consulting are usually amortized quickly through a good marketing strategy and efficient marketing. In some cases, funding for marketing consulting is also possible!

Would you like to set up efficient marketing? Let an expert advise you! We would be happy to find the right contact person for you free of charge!

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Conclusion: Marketing = selling + making customers happy

In particular, founders and self-employed people should think about marketing at an early stage. It is important to find out right from the start what potential customers want and how you can make them happy.

In marketing, the target group analysis is followed by a look at the competition before the goals for marketing can be set. Based on the goals, an optimal positioning is worked out in order to then determine the right marketing instruments that are relevant for the target group. With the marketing concept, all findings flow into a kind of master plan, with the implementation of which one should achieve the actual goal of marketing: to win new customers and make existing customers happy!

Now start your marketing with the first step - the target group!

Author: Für-Grü editors

As editor-in-chief, René Klein has been responsible for the content of the portal and all publications by Für-Grü for over 10 years. He is a regular interlocutor in other media and writes numerous external specialist articles on start-up topics. Before his time as editor-in-chief and co-founder of Für-Grü, he advised listed companies in the field of financial market communication.