“Marketing takes a day to learn. Unfortunately, it takes a lifetime to master”.
Yes, it is rightfully stated that marketing is an art that takes a lifetime to master. But in a world where lifetime to learn is not an affordability, individuals are constantly pushed to master the skill. There is no dearth of talent in the world today. Marketers ensure that they are surrounded by individuals who are creative, enthusiastic and reliable. This reliability has to be balanced by the legalities and complexities related to marketing compliance.
Marketing compliance can be simply defined as ensuring that your company’s marketing content is in compliance with the rules set by the Government. Marketing is done by companies to create awareness about their products in the minds of the people. This awareness cannot be created overnight. Creating a strategy requires some level of brainstorming and research. They should ensure that these strategies are in lines with the regulations set by the Government and regulatory bodies.
Marketing compliance are standards set to protect the customers from misleading activities and frauds. The laws also ensure that the customers privacy is maintained and there is no kind of information leak. It is important to keep your customers safe and prevent them from any kind of unforeseen situation. As a marketer, it is a crucial task for you and your team to be aware of the marketing compliance. This will help you to meet with your guidelines and protect your reputation in the market. A company’s integrity is what matters to the public. It will have a positive impact on the minds of their customers. They will not question the quality of their products and hence will buy from them for a long time. Complying with the standards will help the company reduce their costs and prevent them from the marketing mistakes.
Many marketers consider these compliance to act as barriers in their marketing activities. But they do not realize that, not abiding by the compliance will affect their reputation in the market. Any kind of negativity blowing their company’s image would affect them in the long run. Customers will not believe in a company that sells them fraudulent products. Hence, this distrust will result in loss of revenue and hamper their business growth. From a finance point of view, it may also increase the cost of their regulatory audits.
Marketing compliance comes into picture when a company starts with advertising campaigns for its newly launched products. Advertisers should ensure that they do not give out any false information about the product. The marketers should avoid making fake statements about the product features. Wrongly worded statements in the ads are a big no as they mislead the customers. Marketers should also keep in mind that marketing campaigns should not hurt the sentiments of people. Customers should not feel threatened after watching their advertisement.
Audience criticized the Airtel 4g Ad and blamed it to the performance of its lead actor. The advertisers created the ad to make an impact on their customers by using her as the face of Airtel. But viewers somehow did not like the whole idea of labeling her as the Airtel 4g girl and found her “irritating”. In the end, she did find success with this gig, people were talking about her. But the publicity resulted in mixed reviews from the customers, leaving the company skeptical.
Compliance regulations are changing constantly and coping up with those changes is difficult even for the marketers. Marketing team of a company should know the minute specifics of the regulations. They have to brush up their knowledge and update themselves with the changing laws.
Before launching a marketing campaign, marketers should think from the customer’s point of view to understand their behavior. Thus, the chance of customer understanding the campaign increases multifold. They ought to keep the compliance regulations in mind before starting with the marketing activities. Compliance should be the top-most priority for them. Failure in adhering to the standards will affect their reputation among the customers. It is important to have a compliance system in place that tracks the company’s compliance and performance. This system will enable the company to keep a check on their compliance violations and henceforth, make corrections.
Many organizations nowadays appoint compliance officers to monitor the regulations in a company. He ensures that the company is complying with the standards set by the Government on a national as well as an international scale. By having a compliance officer or a compliance team, the work of your sales and marketing team reduces. Compliance team can time-to-time monitor their activities and marketing team can fully focus on their responsibilities. Therefore, the workload reduces. Marketers can develop their campaigns with a single mind while the compliance officer takes care of the rest. Small as well as big marketers tend to follow these standards. There are no exceptions to the fact that every company has to be compliant with its marketing activities. This will aid them in their survival and growth in the long run.Add to favorites