Marketing is an indispensable part of running and expanding a business. Over the years, the techniques of promotions have been undergoing innovative changes. However, the advent of the internet has completely revolutionised the way products and services are getting marketed. Traditionally, the marketing mix consisted of only 4 P’s, but now they have expanded to 7 P’s, which include other vital elements into a comprehensive strategy.
The 7 P’s refer to the factors that are considered critical while framing the marketing plan to attract the target buyers and influence their buying decisions. With digital marketing becoming highly prominent in the current scenario, these elements are now utilised for online promotions. It helps to make the marketing strategy efficient and result oriented. So, here is everything you need to know about the 7 P’s of digital marketing.
The product or service offered by the business is the bridge that connects the brand and the customers. It comprises its positioning, quality, design, attributes, packing, variants, availability, warranty, after-sale service, etc. It is essential to understand the needs and wants of the target audience to create a desirable product. Use their feedback to add features to the product that meet the expectations of the buyers.
Communicating the value of the product is vital and must be done with the help of content marketing. Buyers must know how the product can solve their problems and offers what they need. SEO experts in Gold Coast use relevant and valuable content to deliver the message and increase brand awareness. These include informative articles, infographics, blogs, images and videos of product demonstrations to communicate its features, design and other characteristics.
The pricing strategy is a highly crucial part of marketing because it generates profits for the business. The price depends on the positioning of the product. If it is a mass product similar to competitive brands, the price must match market trends. However, if it is a premium category product, it will be highly priced, but you need to make sure that the buyers are willing to pay this price.
In the digital marketing realm, pricing takes a significant role because of the discounts offered by online retailers. Whether it is eBay, Gumtree or Amazon, these sites get millions of visitors every month because of the payment methods and discounts. Black Friday and Cyber Monday sales are known for their low pricing strategy to gain more traffic and exceptional sales.
The location from where the product can be bought by the consumers is the place. Following the digital marketing perspective, the place of buying becomes the business website with e-commerce functionality, social media platforms and third-party e-commerce retail stores like eBay and Woolworths.
As a marketer, you need to determine the place to sell your products online. Many business owners use all the popular digital platforms to increase the availability of their products. However, you must identify the platforms that are used by your target audience to choose the right places of distribution.
Promotions include all the activities undertaken to create awareness, visibility, and loyalty, generate leads and get conversions. Digital marketing offers various methods for the promotion of products and services that have started to surpass traditional advertising because of their affordability, reach, effectiveness, targeted messaging, and performance measurement.
The most common ways of online promotions include website content, email marketing, influencer marketing, affiliate marketing, content marketing, PPC, video advertising, blogging, banner ads, Google Ads, Facebook Ads, Live Videos on social media, Podcasting, etc. Besides the paid methods, SEO experts in Gold Coast make sure high ranking on search engine results pages to get noticed organically.
People are the employees who interact with customers to answer their questions and resolve their grievances. In the digital world, the process has become quite simple and straightforward with the help of chatbots and email communication. Besides these tools of quick exchange, marketers use social media and content marketing to engage customers regularly.
The current generation of buyers is quite active on these platforms and takes part in several brand-related conversations online. Thus, marketers should have dedicated social media teams to handle the profiles and upload witty and informational posts, images and videos. They must promptly reply to all questions and issues posted online and find solutions without any blame game or dispute.
Process is the way of delivering the product to the customers. Digital marketers have to ensure that they offer an immersive browsing experience to their target audience. When they feel satisfied and content using the website and making a purchase online, they will willingly come back for repeat orders.
Thus, marketers have to work on a seamless navigation process, a user-friendly interface, faster loading time, attractive visuals and landing page layout, etc. They must optimise the site for different screen sizes because most buyers use their smartphones for shopping these days. Also, they need to build a robust payment gateway, shopping catalogue and shopping cart to complete the transaction effortlessly.
In traditional marketing terms, physical evidence refers to everything that the buyer notices while purchasing the products. These include the interiors and fit-out of the business, arrangement of products, location, number of customers in the store, etc. In the digital world, the physical evidence is transformed into online ratings and reviews of the products.
Every buyer looks at them before purchasing online because they cannot touch and feel the product. The reviews left by other customers on the website, third-party sites and social media play a vital role in influencing buyer’s decision. Thus, getting testimonials and social media posts from satisfied customers is vital to generate more online sales.
Incorporating these seven elements in your digital marketing strategy helps to cover every aspect of brand promotions. It allows you to improve your offerings and serve your customers in the best possible manner. Buyers get quickly captivated when these elements are included in the plan and help boost awareness and profits.