Author: Preslav Baldzhiev
What distinguishes a successful brand owner from an enthusiastic entrepreneur who has embarked on another new challenge? How have brands like Nike, Adidas, Bvlgari, Ferrari, Mercedes-Benz, BMW, and many others become what they are now? Why are many of the recently launched outlets failing to take the next step towards expansion?
These are questions that do not have an unambiguous answer, and such can only be given if all the details of the case are known. Of course, full absolutization is not appropriate, because the identity of a brand or a business is always built through two tools – digital marketing and intellectual property.
What is digital marketing?
Digital marketing is a type of advertising of certain goods or services that takes place on the Internet (this is the reason why it is also called Online Marketing). Unlike offline marketing (broadcasting of advertisements on television programs, distribution of flyers and brochures to passers-by, etc.), in digital marketing, the active actions between customer and merchant are performed by both parties.
In traditional offline placement channels, active actions are performed solely by the merchant, and they are limited to broadcasting a video on television (example). In Digital Marketing, product placement is done in such a way as to make the Customer click on the advertisement on the Internet.
What are the benefits of digital marketing?
In recent years, digital marketing campaigns have proven to be significantly more accessible to merchants than standard offline placement channels. An example of accessibility is the digital marketing tools developed by Google, Yahoo, or Bing, which can be used completely free of charge by users. Such options are available from the comfort of your own home, as long as the merchant has the Internet and a device to use them.
An additional fact in support of online marketing is that more and more people prefer the Internet as the main source of information (no matter what) to television channels, newspapers, and so on.
The third and perhaps most significant advantage (which has already been mentioned) is that active action is on both sides. Digital marketing provides a constant opportunity for contact between the merchant and the customer, which in turn means greater customer engagement.
Last but not least, digital marketing has no working hours – after setting certain criteria, the use of online marketing channels is automated and no human intervention is required.
Types of digital marketing
Digital marketing is a vast space because it offers different ways of advertising. In the following paragraphs, we will focus on the 4 most common methods for online placement of goods and services.
- Social Media Marketing – Given that social networks are free, this is the most affordable and easiest way to do digital marketing. There are several possibilities – advertising on the platforms can be done through paid promotion or sharing various posts from personal profiles. The paid promotion provides even greater opportunities by allowing targeting of a specific group of users. Another important advantage of social networks is the channels for direct communication between the merchant and the customer.
- SEO – Or Search Engine Optimization. At least once in his life, everyone has used one of the search engines (Google, Yahoo, and others). By entering keywords in the search box, the search engine sifts the related posts and sorts them by relevance. Search Engine Optimization helps a publication jump to the forefront of results. To do this, it is recommended that the publication contains keywords that are frequently searched and that accurately identify the goods and services offered, but at the same time are not too obvious and often used. Of course, search engines rank results for a fee on a bidding basis.
- Creating a website – Creating a good-looking and responsive website proves to be a major investment as it involves hiring software professionals and graphic designers. Of course, you can also use free platforms for ready-made websites with the trick that the domain name will also include the name of the platform, аnd this is not something that will attract customers.
- Email subscription – Such a service would be successful if the merchant has a website on which to actively upload new posts. Thus, through the email subscription, customers will receive up-to-date information about new products and services, promotions, or other campaigns. Many digital marketers suggest that such emails be short, concise, and direct the customer back to the website. It is also important not to send too many emails in a short period of time, because the customer’s mail may consider spam and filter.
The importance of digital marketing
Having listed the most popular methods of digital marketing, it is easy to understand why this form of placement is so popular. Smart devices and digital services have become such an integral part of our lives that it is much easier to use your mobile device to check something than to look for it in books, brochures, manuals, or magazines. In other words, digital marketing creates a relatively constant connection between the merchant and the customer, which allows for the engagement of a large number of customers who will eventually benefit from the offered product or service.
Intellectual property for the benefit of business
Digital marketing is a useful tool, but in itself is not a guarantee for successful business development. The expansion of trade relations raises the value of the commercial enterprise, which makes it an increasingly appetizing morsel for ill-wishers. In order to fully protect the interests of the merchant and to create a strong link between him and the customers, the protection of intellectual property is necessary.
Advantages of intellectual property
Intellectual property gives rights that are comparable to those of a monopoly. Upon successful registration of a trademark, which is of the utmost importance for the business, the merchant protects the trademark by which he indicates the goods and services offered by him, and ensures that no third party will be able to use it without his permission. Such registration affirms the authority of the merchant, and customers will perceive the brand with confidence.
Of particular importance is the possibility of licensing the registered object of intellectual property – this will lead to additional revenue, which will vary depending on the reputation of the brand. In addition, such a license provides an opportunity for the merchant to expand not only in different cities but also in other national markets.
Despite the above advantages, it should be borne in mind that the protection of intellectual property is linked to the payment of certain fees (in specific cases, they vary depending on the type of intellectual property).
Importance of intellectual property
The protection of intellectual property is often underestimated and even ignored by merchants – even because of financial aspects. However, given all that has been said so far, the unprotected object of intellectual property can create more headaches for the merchant than the momentary inconvenience associated with its registration.
Conclusion
The establishment of a business model and its placement in the right way on the market is a consequence of a well-prepared strategy, the implementation of which often takes more than a day or two. Successful coordination between the elements of digital marketing and the factors accompanying the registration of an intellectual property object, together with a high work ethic and the right attitude towards customers, are the differences that turn any project into a successful business.
This material prepared by Preslav Baldzhiev aims to provide more information about digital marketing and intellectual property. It does not constitute a legal opinion and cannot be interpreted as individual consultation on any concrete facts or circumstances. The advice of a specialist should be obtained for specific questions and situations. For more information on the above-mentioned issues and individual consultations, please contact the team of the law firm of Krasimira Kadieva at 00359 882 308 670 or make an inquiry using the contact form of the website. Since 2017 Preslav Baldzhiev is a law student at Sofia University “St. Kliment Ohridski “, having previously graduated from the High School of mathematics and natural science “Acad. Nicola Obreshkov” in Burgas. In February 2020 he took a course for industrial property representatives at the Patent Office of the Republic of Bulgaria in the field of trademarks, geographical indications, and industrial designs. He is interested in intellectual property, personal data protection, commercial and law on obligations and contracts and also regularly attends conferences, practical courses, seminars, and webinars.