In order to further increase awareness of NORMA Group’s products all over the world, boost product sales, strengthen customer relationships and thereby contribute to the Group’s growth, NORMA Group’s long-term marketing strategy is based on the following objectives:
• Building a strong NORMA Group brand image
• Focusing on digital marketing strategy
• Focusing on marketing activities
• Optimizing the brand portfolio
• Optimizing the marketing tools used
• Achieving a better understanding of market needs
In order to be able to focus on its end markets and customers as much as possible, NORMA Group aligns all of its marketing activities to address local market conditions and consumer habits in its respective regions and markets. The regional marketing units are responsible for executing the various activities and synchronizing them with NORMA Group’s operational objectives.
Marketing focus in 2022
The main marketing activities in fiscal year 2022 included the following:
•Development of a target picture of the future brand strategy and brand architecture
•Further development of the Digital Commerce Strategy 2025 focused on NORMA Group's presence on marketplaces. This contains product and application information for customers on the NORMA websites as well as measures to support and facilitate customers in expanding their digital activities
•Preparatory work on the implementation of NORMA Group’s new global digital ecosystem
•Global alignment and optimization of marketing tools and suppliers
•Further expansion, standardization, and enrichment of the Product Information Management (PIM) platform and Digital Assets Management (DAM) platform as a basis for further digitalization activities
•Expansion of the digital communication channels with relevant tailor-made content to customers and launch of awareness and lead generation campaigns
•Optimization of the product portfolio and new product launches to offer a complete portfolio to cover its customers’ needs
•Development of specific marketing initiatives targeted to new business areas and high-potential markets
•Participation in events, trade shows, and TechDays to reinforce the Company’s relationships with its current customers and create new business opportunities
After two years with a low level of activity with regard to trade fairs, exhibitions, TechDays and events with customers due to the pandemic restrictions in most of the countries, NORMA Group was able to participate in events again around the world in 2022, as part of our traditional marketing activities to promote NORMA Group’s product solutions to their target markets.
Marketing expenses in 2022
Marketing expenses amounted to a total of EUR 4.8 million in fiscal year 2022 and were thus above the level of the previous year (2021: EUR 4.1 million). Marketing expenses as a percentage of sales amounted to 0.4% in fiscal year 2022 and remained stable compared to the previous year (2021: 0.4%).
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.