Samsung is best known for their quality electronic products, but wasn’t always a technology company. When the company was originally founded in 1938, it was a trading company with a small amount of employees. They dealt in groceries and had produced their own noodles, until the Korean War broke out, which forced the company to head into a different direction. By 1982, they had finally introduced their first personal computer to the Korean market, and have since grown at an incredible rate. They could not have been as successful as they are without their fantastic marketing efforts, so let’s take a look at some of their marketing strategies and see how they might be able to be implemented in our own businesses.
More than Just Electronics
Samsung doesn’t just focus on one product at a time, even though lately it seems like all you hear is about their smart phones. They have invested in or acquired multiple different company types, from clothing lines, Swiss watches, to even aircraft companies and many more. By doing this, they expand their overall markets and have a much larger chance of being able to be successful. Their marketing effort for each product type also reflects back on the rest of their products because if one Samsung product is good, it gives the impression that they all are.
While most of us won’t have anywhere near the same type of budget that Samsung has, we can implement this particular strategy by understanding that having more than just one or two products will expand our businesses and will give us more chances to thrive in different markets. If we only just focus all our efforts on one product, then we run the risk of losing everything if it doesn’t go as planned. If you find yourself in a situation where you only have one product or service, look to see if there is any option to get a new project going in the same field. It is usually easiest to make your first few products or services within the same industry.
Fight Your Competitors
I’m sure most of you have seen some type smart phone advertisement from Samsung, and you also have probably seen some from Apple. This is a perfect example when it comes to two companies fighting for their customers, each company tries to continue to outperform the other, and they even went to court about their phones. In any industry, there will always be other companies out there that offer similar products and services that will try to out market you and steal your market share, but you never see large companies just back down. By fighting, Samsung was able to get a lot of attention brought upon their company and they were able to convert that attention into sales.
We will eventually all run into this type of situation if our companies continue to see growth. There is a large list of ways companies can take over another company’s market share, but the key is to know what will hurt you the most. If you sit down and understand your major weaknesses, you will be much more prepared to take on your competitors. Don’t get caught off guard and have everything you have worked for taken from you, make sure to have plans ready just in case. If you are properly prepared, you could end up with your competitors’ market share, increasing your overall revenue by an excellent amount.
Samsung has used many different videos and articles to attract new customers and keep current customers interested. Content marketing really is one of the best and easiest ways to reach out to your target audience to have them explore with what exactly you are offering. It doesn’t cost much money, it can actually be completely free if you wanted to handle every aspect of the work yourself, but if you have a small budget you will go much further much faster.
If you are new to content marketing, you should try blogging to get started. It is a great introduction to content marketing and will give you the lay of the land. Starting a blog only takes a matter of minutes and if you choose a free hosting site, you won’t have to pay a dime, although it is much better to have a blog attached to your official business site.
If blogging isn’t really catching your attention then try to make some videos and post them up on free video sharing sites such as YouTube. Videos are a great way to increase your exposure and get people interested in whatever it is you are offering.
One thing you can expect when you purchase a Samsung product is its beauty. The product’s design is great, but also the packaging that it comes in is also amazing. The first thing your customers will notice when looking to purchase your products is the packaging, and first impressions are very important. Make sure you take the time and make your designs the best they possibly can, because the last thing you want is to have an excellent product, but then no one is interested because it has an ugly presentation.
Even cyber products or services can have a great design to introduce them to your potential customers. For example, if you have an E-book you are trying to sell, making a “cover” for it would help convince your customers to purchase the book because they have something they can actually see, not just words. If you are not the designer type, that is not a problem because there are companies that will be able to help you with any type of designs you are looking for. They might be a little expensive, but it is worth it in the long run.
Karl writes for Make-a-website.com, the number one resource for people who want to learn to start a blog online.