Marketing is most simply defined as making your products available to customers at the right price, in the right place, at the right time. While it sounds quite simple, companies invest huge amounts of money in trying to achieve this goal.
Today, the concept of the traditional marketing mix has changed. Not because the idea is wrong, but because marketing itself has changed. The internet has changed our behavior, from how we communicate, to how we consume media, which includes how we consume our marketing.
Additionally, digital marketing costs are much lower than traditional marketing and provide more control over who sees their messaging, and when. All of these changes have affected the traditional marketing mix, including the four P’s of marketing.
The Four P’s of Marketing
The four P’s of marketing is a term that was introduced by Jerome McCarthy in his 1960 book, Basic Marketing: A Managerial Approach. The four P’s refer to the way in which you take a new product or service to market and it helps define your marketing strategy in terms of price, product, promotion, and place..
Product
A product is any good or service that meets a customer’s needs. Good marketers must understand the features of their product and also understand the needs of their customers.
Price
The price of a product is the amount the customer is expected to. Price can be the perceived value to the customer rather than the actual product cost. How customers perceive the value of your products is an important factor in determining price.
Promotion
Promotion is the marketing communication strategies for a product. This can include advertising, sales promotions, special offers and public relations. The promotion should be appropriate for the product, the price as well as the target customer.
Place
Placement is how the product is being provided to the customer. Distribution is a major element in determining a products placement. A placement strategy is helpful in determining the most suitable channel of distribution to be used.
The Four C’s of Content Marketing
So what do the four P’s or marketing have to do with marketing your products online?The internet has changed the way that customers learn about products and services, that’s why understanding the content marketing mix is more important than ever to attract qualified visits to your site.
Create
According to research, 81% of buyers research products online before making a purchase. Content marketing is about creating relevant content that your customers find useful and easy to consume. Try to be a resource for prospects who are doing research on your products as they make their decisions to buy.
Contribute
Don’t just promote your brand or products, contribute to discussions and trends on social media. Aim to build loyalty with your customers and create trust with potential buyers by providing answers to their important questions. Monitor the most relevant social media platforms that your customers use and don’t miss an opportunity to engage.
Convert
Once you begin to promote your content, focus on converting potential leads into loyal customers. Create engaging content that educates your customers, builds trust and makes them more comfortable making a purchase.
Continue
Content marketing is a long term strategy, so continue to offer value to customers through new content. Engaging content with focused keywords will drive traffic, but be patient, it can take months before you begin seeing results.
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