Embracing the digital transformation of business
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Digital marketing is in. But this does not mean that conventional marketing methods have become defunct. As most marketing experts have pointed out, a hybrid effort by using both traditional and digital media is highly recommended. This article looks at the need for expanding the 4p concept of marketing to understand other dimensions of digital marketing that the business ecosystem needs to know.
Jerome Mc Carthy introduced to us the 4Ps of marketing. Since then a lot has changed. Services marketing introduced additional 3Ps - Process, Physical Evidence, and People. Let us now list the 11 Ps for Digital Marketing.
- Performance: As digital marketing efforts are amenable to measurement of ROI, it is important to measure performance against goals set.
- Presence: For success in digital marketing efforts, the marketers must be accessible to the customer when the latter needs them - be it on social media, search engines, on smartphones. 24 x 7 is in; 9 to 5 is out.
- Pleasure: Services are experiential in nature; so how do you, as a digital marketer, influence the customer's experience is important as much as the tools.
- Proximity: Though it deceptively looks similar to the 2nd P (Presence), proximity is more about being available to the customer when he needs you the most. Gen Y and Gen Z - are restless with a divided attention span and so agility in responses to customers is most valued.
- Pertinent: How relevant is your content? Are your messages relevant to the customer? Are you just spamming the customers flooding them with messages that bear no relevance to them?
- Process: Customer experience depends on how seamless the process is.
Are the delivery processes fine-tuned to make it easy for the customer?
- Personal: Personalisation is powerful when used in the right way. Dulux paints achieved phenomenal success with its digital marketing strategy using an app that allowed customers to personalize their choices.
- Preferences: Learn about customer's preferences acknowledging the fact that today's consumer is informed as well as empowered.
- Profit: If you cannot measure the ROI on your investment in digital marketing, you may as well excuse yourself away. Without making profits, sustainability can, at best, be a mirage.
- People - Digital marketing is more about people and less about technology; the latter acting as an effective conduit between people and marketing; People includes not only customers but also employees.
- Physical evidence - A website that is easy to navigate, is user-friendly and refrains from subjecting the customer to a cognitive load is definitely a plus for the business. Unless your claims are substantiated by the processes and an attractive website, digital marketing efforts can come to a cropper.
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