The Four Ps of marketing encapsulate the essence of a business’s marketing strategy and support its digital strategy. But how do you incorporate them into your own digital marketing strategy? Here are a few ideas:
Product refers to the service a user wants, which can either be physical or abstract. For digital strategy, knowing the function of the product for your customer and branding it as such are essential. Highlight how your product meets consumer’s needs and how it differs from your competitors’.
For price, it is important to know what your customers value; what are they willing to pass up on to have your product? Online, consumers are able to price check other organizations and compare them to your offerings. Knowing what keeps your products competitive while also being perceptive to how your patrons might value those products is the key here.
In this case, promotion refers to how a business lets their customers know about a particular product or service and how those customers then explore the product further. This could include Facebook ads. Understanding the type of content your customers will engage with is key for promotion.
In the past, advertisement might have taken place in newspapers or television ads. Today, however, businesses have the ability to exhibit their services instantly on social media, emails, and on their website. Therefore, it's important for businesses to be easily found and accessible to their customers, especially since they can search for them at any time. Finding out where your patrons are most likely to find your products and when is a necessary aspect to consider when pondering the best place to advertise.
With a deep understanding of your customers, as well as the perceived values of your products, services, and business plan, revolutionizing your marketing plan to its optimum level is extremely attainable.