4 Ps of Online Marketing

Online Marketing has changed the marketing practices and methodologies for many industries. From Customer profiling to Customer Acquisition, Customer Servicing to Customized Offers, marketers have used internet and data to the best of utility. But the fundamentals still remain the same. The old marketing processes and concepts are still the same but they do lay emphasis on and encourage reconstructing them to accept the new forms of communication.

Product

Internet can be the medium for purchase (e.g. typical online retailers) or the medium for the product itself (social media, cloud storage, etc.).

The different steps required for migrating the products display from offline stores to online will be:

  1. Make up for the loss of the offline stores experience: touching the product, speaking to the shop assistant and trying it on/out. We have to ensure that we have enough images or video and a forum for clarifications.
  2. Put up options for cross selling and up selling with the help of recommendation engines, predictive analytics and prospects’ social behavior. The technology can be built in such a way that they provide an assistive interface.
  3. The best case scenario is that if the product is itself internet-based. It’s easy to offer trial versions and demos.

But whatever product we are trying to market, we can’t ignore the search engines! The best presentations are worthless if customers cannot find the product during search and this requires to work on SEO, which we will see in next P.

Price

It is a good practice to put prices of goods and services on the online channels or any promotional material being used in ads. It is found that promotional content with information about price gets higher response and conversion rate. Price is usually the defining criterion for customers in making the decision for selecting a product while browsing through the list of products.

Place

In the context of Online Marketing, Place refers to positioning / page rankings in the major search engines. Online businesses must actively invest in SEO, either in-house or outsourced. This should be one of the biggest factor when we are planning our online marketing strategy. Promotion through using media advertising, advertising display and banners as promotional material can be extremely effective if they are well prepared and implemented.

Promotion

Search-engine optimization (SEO) is a must-have for online businesses and pay-per-click (PPC) ads are also very cost-effective. Social Media and Emails are great ways to disseminate information regarding your products. An online marketing guy must have knowledge of all sort of social media channels. Tapping into every channel can be rewarding. The key is to let the network members do the promotion activity for the products. Create profiles in all relevant social media resources and become involved in their activities.

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