Online marketing is becoming increasingly important, and start-up online marketing is crucial for success. Customers are increasingly informing themselves about offers in the WWW and the sales generated online are also steadily increasing.
Entrepreneurs in particular should therefore also deal with the topic of online marketing. Basically, the well-known 4P’s also apply here. Which products you use through which sales channels (Place) at what price and how (Promotion) ultimately depends on your online marketing strategy.
Growing thanks to online marketing
Users inform themselves about products and offers online, making the Internet one of the most important information media.
The fact that online marketing has thus also become an important success factor for most start-ups should be clear from the above-mentioned facts. The crucial question, however, is which online marketing activities you should consider directly when starting a business. The answer depends in particular on your business model. You should ask yourself two questions when developing your online marketing strategy:
- Is my target customer informed on the Internet?
If your target customers are informed on the Internet, the question about the HOW follows directly: How does your customer do when searching for information, does he or she use Google or is a specific website visited directly? How does your target customers know which websites and/or portals (e.g. comparison portals) could be relevant to your business model?
- Does my customer also buy online?
If you also want to use the Internet as a sales channel, it is important to know where to buy. You have to decide whether you want to list your offer on large e-commerce platforms, whether you want to offer your products at an auction house or distribute your products through your own webshop.
The 4P’s in online marketing
If online marketing is relevant to your business model, the development of an online marketing concept follows. This is essentially about the famous 4P’s, as in offline marketing. In the business plan, under the chapter Online Marketing, describe which online activities you planned during the start-up phase. You can orientate yourself to the 4P’s:
For your online marketing strategy, you need to think about what products you want to offer online. If necessary, it makes sense to add an additional or different function to your product so that it differs from the products you offer offline (e.g. you can only offer a special variant or color online).
You may also need to adapt your pricing policy to the online environment. On the positive side, you don’t have to rent a sales room for online offers and can thus save costs. On the other hand, however, are the shipping costs, which are usually borne by the supplier. Note that prices on the Internet often differ from offline offers and that payment usually takes place after delivery (is relevant for liquidity!).
Where you offer which products on the Internet is a decisive factor in online marketing. For more information on this section of online marketing, please visit our page.
Offering products on the Internet is not self-sufficient. You have to decide how to publicise your products and which online marketing tools you want to use for them. This “P” is also described in more detail on our fPromotion page.
When also making online marketing, make sure that the respective P’s are coordinated with each other. The basis of a successful online marketing strategy often starts with your own, appealing website.
Online marketing in detail
For a more detailed insight into the different channels in online marketing, we have provided you with some key tools from Internet marketing additionally prepared:
- Social Media Marketing
- Advertising on Facebook or Youtube
- Email Marketing
The goal is …
… that you explain in your business plan whether and why online marketing is relevant to your target group. Demonstrate whether you want to use the Internet as an information and advertising platform and/or as a sales channel.