So we’ve discussed the original 4 P’s….
By now you can probably name them in your sleep. Heck, if you are a marketing person, I’m sure you’ve even dreamt about them a time or two.
Marketing could not survive without the marketing mix. It is what gets us from point A to point B. But will it always? I’m sure it is something we can truthfully depend on. However, no matter what day in age, will it lead us in the right direction by using just that?
Let’s be clear I am not saying knock out the original marketing mix and use what I am about to tell you instead. Definitely don’t do that. Those 4 P’sare instilled in your brain for a reason.
In other words, consider adding these additional P’s (below), when analyzing your Marketing Mix. Especially when you are looking at digital or social media marketing.
This world is constantly transforming, so much so that a lot of us can barely keep up with it. We finally start getting use to using our new iPhone 6 and then the iPhone 7 comes out.
So if the world of products is constantly changing, then do the 4 P’s have to also?
That can be a matter of a opinion. Though with our ever evolving marketing roles and constantly transforming digital world, these 7 additional P’s are definitely something to consider looking into as well.
Today the customer experience varies across many different interfaces and devices. Whether someone decides to shop online, or in store, both are going to involve something different. Therefore, this is something to keep in mind when coming up with your marketing strategy.
What type of customers prefer to shop online versus in store? Do they usually buy items or just browse? These are the kinds of questions should be asking.
Once you collect your data, find out what appeals to those different target markets the most, and why?
Then we reach the next step…
To please your buyers the most, you can start building tailored customer experiences from the data you collect about different types of demographics. Personalization is so important, and a lot easier nowadays with all of the data we have access to. You want people to feel like they matter and are respected. If they feel important to you, you will be important to them. Simple as that.
Next up we have…
Like we discussed earlier with the portability aspect, proximity matters just as much. Since there are various different ways to shop, you want to pay attention to where you are reaching your customers on their customer journey.
With that said, what part of their journey is their presence meeting your company?
So we mentioned you have online buyers, and ones who prefer to shop in person. What about the ones who do both?
It is also important to consider the different age groups of your customers as well. Some may have no recollection of digital shopping and can be reached by traditional advertising. Others are the complete opposite. Now how do you get their full attention?
One popular technique that advertisers are trying to do more is combining the two (traditional and digital), in order to reach as much people as possible.
Which brings us to..
One thing I learned recently that Amazon does is have an empty chair at every meeting in order to symbolize their customers. Sometimes we get so caught up into our great ideas, we may forget to take a step back and think, are my customers going to like this as much as I do?
Not only your customers but your employees as well. In order for your company to be successful, you need to be sure to have the right people in place.
People make the world go round, so it is vital to always put them into consideration when developing your marketing goals, even building/enhancing your company, and perfecting the perfect process.
The process is all about getting your product or service in the hands of your customers. Who is behind the scenes making this happen? How many steps does it take to get to stores, or point of purchase? These are all things you need to constantly be evaluating and researching in order to improve your business and better please your customers.
Learn how to perfect your process, and use data to help you get there.
Also known as…
- Physical Evidence
This means a lot of things. From proof that your product has been delivered, to stats on how your business is being perceived. This can include documents such as testimonials, case studies, focus groups, any type of feedback that comes from your viewers/users, as well as workers.
What is the physical evidence that shows you exist, and what does that say about you? Then, how you can use it to better yourselves?
If you have done your own research on this subject, I am sure you have found many “new P’s,” to use. I believe all can be beneficial, it just matters what business you’re in, what you are trying to accomplish, and who you are trying to reach.
Best of luck to finding the perfect mix. Let us know if you find anything interesting.