Marketing strategies have been around for a long time. The internet however has not. Yet a vast majority of marketing is now done online. So how do the 7P’s of marketing relate to Internet Marketing?
The concept of the 4P’s has been taught in various business classes for a very long time. This traditional line of thought involves 4 main attributes of marketing strategies being Product, Price, Place and Production.
These principles focused on the marketing of goods. With the development of society it was found that the service industry had become a large part of everyday life and so 3 more strategies were added to the marketing mix to produce the 7P’s of marketing. The new principles are Process, People and Proof.
These principles have now become common strategies in the planning of the modern day goods and services industry with both off and online markets.
Our concern today is with the Online Marketing Industry. So let’s have a basic look at how the 7 P’s of Marketing relate to our industry.
Product-What are you selling?
The product range for online marketing is vast and varied. You may be dealing in physical goods you need to ship to customers to information style products which can be downloaded instantly. The world is your oyster when it comes to choosing which products you wish to market online without the restrictions put on physical stores.
Price-How much are you selling for?
A small store in the local shopping centre of the nearest town probably doesn’t have a lot of competition, so their prices may reflect this. As an Internet Marketer, the competition arena is much larger, so prices also need to reflect this. The buyer has multiple sources to choose from right at their finger tips, so ensure your pricing is a suitable range.
Place-Where are you selling?
Most Internet Marketers will be selling from their own websites. Ensure your site is user friendly. Can your customers navigate around easily? Is it interactive? Attracting and retaining customers is every Internet Marketers goal, so make your website is suitable for what you are selling.
Promotion-How are you advertising?
If you have a website, then most of your promotion work will be done through this medium. Directing traffic to your website is the key to successful sales. This can be done through article marketing, ad campaigns, and email lists as a few examples. Once at your site, quality content such as detailed description, images etc are your selling point. Therefore such things as search engine optimization, syndication, and viral marketing are common strategies for Internet Marketing.
Process-How do you provide customer service?
Good customer service is essential to all successful businesses. Do you have a FAQ’s section? How do you handle enquiries? Is your website current with relevant information? How do you track visitors to your site? To turn visitors to your site into customers, you need to engage them and give them the service they are looking for.
People-Who are the people dealing with the customers?
Basically in most cases of Internet Marketing you are probably the sole or chief person dealing with the buyer. Be friendly, honest and reliable in all your dealings with potential clients. Join forums and get to know other internet marketers and learn from them so you can better services your customers.
Physical Evidence-What are your customers getting?
Offline customers have the opportunity to pick and feel the products they are buying. Not usually so online. To combat this issue, offer your customers a trial offer, case studies or testimonials.
The world of Internet Marketing is growing every day, so to stay ahead of the competition you need to be creative and persistent. If one thing does not work for you, try another but always remember the 7 P’s of marketing in your plan. Good luck in your endeavors.