The internet has changed how we think about marketing forever!
Marketing is one of the most important skills that every entrepreneur and business needs to master if they are going to be successful. In this post, I want to highlight “The 10 P’s of Marketing You Need to Know”, as these are areas that need to be clear in the mind of the entrepreneur, business owner and management to run a successful marketing campaign.
These 10 elements are your marketing formula; see them as if they are10 different musical instruments in an orchestra. No one instrument is more important than the other. Each has a part to play, and when they all come together in a symphony that beautiful and powerful music is made.
Just so, the key to your marketing mix is to remember that no one element of this formula is more important than any other. Each has a different role to play in a dynamic and sustainable marketing synthesis. The 10 P’s of your marketing mix should all work in symphony to establish your brand and its unique selling point and ensure you pitch to the right prospects in the right market.
Get this right, and your product or service will surely be music to their ears. Get it wrong, and your product will have disjointed sounds lost in the market noise.
Welcome the new Ten P’s of Marketing.
1 Performance (Proof)
How are your activities measured against objectives and competitors?
The Internet has shrunk the world but has vastly increased the available number of services and product providers.
How you perform with your digital engagement consigns you to success or failure.
The proof is in the Results you Achieve. Get the results, and all the testimonials, recommendations and guest appearances will come.
Constant monitoring should be provided to ensure that your digital marketing strategy is working effectively.
Unless your website delivers performance, you are wasting your time. This P addresses performance for the customer in terms of online experience and satisfaction; and performance for your business in terms of service delivered and revenue and profit results. As we know, far too many dot.com companies have failed on both counts.
How is yours?
Online, Mobile search, social media. Are you there? Do you look good? Is it working?
A well-designed website is a requirement! And we are not talking about looks. It should work, i.e. it should solve your customers’ problems.
How do your users rate their customer experience with you vs your competitors?
Who does this better than anyone? (If you know that answer, then ‘Be Like Them!’)
Do not settle for second best.
Are you there when your customers need you?
Are you on hand 24/7?
This generation wants it all and wants it now!
Online business is all about connecting with potential customers, so traffic on your website should be high to ensure positive outcomes. Therefore, your digital marketing strategy should ensure that your leads and visitors do not exert unnecessary effort to connect with you. Engaging with your customers is invaluable for your business.
To eliminate unnecessary effort, you should ensure that landing pages do not ask for irrelevant data. Make CTAs clearly visible on the landing page and other pages on the website.
Are you relevant?
Are your marketing and outreach relevant to your customers’ needs now?
Do you know? If you don’t, then go and find out! Ask them; they won’t bite.
How is this working out for your customers?
How you engage is one thing, but the actual process of the delivery is not to be overlooked.
Processes ease the customer experience. You should strive to make the customer’s experience with you and your company as frictionless as possible.
How will you achieve this process? Automate your systems, automate your program, your delivery, your emailing and your follow-up. Automate your content building and posting. Do this, and you will save time and money.
When you communicate with your customers, being email, letters or otherwise digitally, ensure that you use their names.
It makes them smile, and they will like this. That is what we need online. Not Mrs Ryan or dear Sir.
When used in the right way, Personalisation is very powerful.
Also vital to any marketing are You, Your Brand and Your Personality. Be authentic, be true and be congruent!
And if your customers don’t want to go too personal, then provide them with preferences, so you can all learn and get the best from your relationship.
Weirdly, this was not part of the original Four P’s, but it should have been!
Everything you do digitally is measurable, and Return on Investment (ROI) is often a crucial part of this measurement.
Ones and zeros are very useful, but let’s not forget we deal with people! Ignore this at your peril!
Know your buyer persona. Know your client’s problems better than they do, and know what they want and who they are.
Whether you are marketing a product or service, you are still solving a problem for them; what is it?
I cannot stress how vital it is for you to know exactly who you are selling to.
You must deliver the Right Message to the Right Audience at the Right Time in the Right Place.
A lot of work is involved in designing a digital marketing strategy process, but an effective and well-thought-out plan will make it much easier.
The past, the current and the future are and always have been about the customer.
Never losing sight of that fact, regardless of technology, competition, or media, now is the time to engage with customers on their terms. To listen and show that you love them.
And if digital media can help you achieve that, then Digital Marketing is alive and well.
Of course, the Four P’s of Marketing – Product, Price, Place, and Promotion– are still very much valid, but with Digital, the new Ten P’s of marketing are also very much required!
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