The 8 P's of Digital Marketing: What are they?

[subornaakter20]

Every marketer must know the 4 P's that form the basis of the marketing mix.

The 4 Ps concept, promoted by authors Jerome McCarthy and Philip Kotler, explains marketing actions based on the product (offering to the consumer), price (how much it costs), place (where they can buy it) and promotion (how they will know about its existence).

With the technological advances of the food and beverage email list digital world, other Ps complement this approach to marketing. Now, there are 8 Ps ; namely:

Product
What are you going to sell? Here you must define what you will give to your consumers that will be useful to them . It can be a tangible good, a service, an information product, an intangible…

Therefore, you must know what the concept of your product will be, its name, functions, benefits, etc.

Price
Price refers to what customers will pay for what you offer. While it's important to know how much it costs to produce, sell, and deliver your product, its price will be determined by what your audience is willing to pay you.

Are you targeting a segment that seeks economy or one that likes prestige? Answers to questions like these will help you get your pricing strategy right.

Plaza or Point of Sale
This is where your customer will find your brand or product , so it is essential to know where your consumers are and how they shop. Find out which stores they visit or if they prefer to buy online.

Promotion
It's about how the information will reach your audience and how you will engage with them.

What relevant message can you give them? Through what medium?
People
It's about learning about people's behavior, especially your target audience. What interests them? What inspires them? How do they behave?

Likewise, it will be of no use to your customers to buy your products if they are not well served, so treating them in the right way is crucial.

Processes
Every company has procedures to promote the brand it represents. These processes include administration, production, marketing, storage, etc.

Presence
It is built through interaction . It is the way brands interact with their communities and the way they are perceived.

Productivity
This is all about quality and performance , and the best way to track this is to set up certain key performance indicators or KPIs.

These should be updated periodically, and should not only be financial. They should also be used to measure how you are doing with the other Ps of this mix.

Types of Digital Marketing You Should Know
The success of online sales has led to the emergence of different types of digital marketing, which we show you below:

Inbound Marketing and Content Marketing
Although some authors clearly differentiate these two elements, giving inbound marketing a more comprehensive sense of business management and content marketing a communicational emphasis, it is very difficult to demarcate the limits of these concepts.

Since 2006, inbound marketing has been the most effective method to promote your business online, generating leads and decreasing conversion time.

Inbound marketing is about having the customer seek you out, not the other way around. It revolutionised the old outbound marketing methods that acted intrusively with unsolicited messages and advertisements.

An inbound strategy focuses on creating quality content that attracts people to your company and product by delivering relevant information where and when they need it.

By aligning the content you publish with your customer's interests, you naturally attract traffic that you can then convert into customers.

If you create content tailored to your customers' needs, they will look to you for answers and enter your sales funnel .

The best part about inbound marketing is that it is not a form of paid advertising, but the content will be hosted on your site for as long as you want.

Conversational Marketing
Conversational marketing is a personalized approach to marketing that companies use to shorten their sales cycle, get to know their customers, and create a more human shopping experience.

Unlike traditional marketing, conversational marketing uses real-time, targeted messages and intelligent chatbots instead of lead capture forms.

This way, potential customers rarely have to wait for follow-ups and can engage with your business when it's convenient for them.

Social Media Marketing
Social media marketing uses social media websites as promotion and sales channels.

Its goal is to get users to share its messages, thereby increasing brand exposure and broadening its audience reach.