The 7 P’s of marketing (also known as the fundamentals of marketing) existed long before social media shook the marketing landscape.
Social networks may be the new norm for marketing online, but these foundational concepts still apply in today’s ever-changing marketing environment.
Updating and communicating with your customers, no matter where they are in the world, can be accomplished through social sharing.
The 7 P’s of marketing in social media are:
1. Product
Social media makes product promotion easier than ever, functioning as a free advertising forum to relay product information and capabilities to customers. It’s also used as a means to receive feedback on your product or service through questionnaires, surveys, and polls, allowing for continuous improvement and helping your team to solidify product perception and performance.
2. Place
Online marketplaces make it possible to sell your products virtually and expand your geographic region beyond brick and mortar. Ensure that your company’s site is accessible on all devices and adaptable to mobile and provide a mobile app for customers if appropriate. Social media is also a means of expanding your customer base through networking and advertising. Updating and communicating with your customers, no matter where they are in the world, can be accomplished through social sharing.
3. Price
In terms of product value, we know that the cheapest choice is hardly ever the best choice. Social media can be used to communicate product value and capability, therefore justifying the price to customers. Furthermore, demographics allow your company’s ads to target higher-earning individuals at a premium price and lower-earning individuals at a lower price.
4. Promotion
Promote all aspects of your business on all of your social media outlets. Identify where your target audience spends time online and connect with them. Don’t limit your content to your products and services; feel free to share company and employee news, thought leadership, industry happenings, resources and anything that promotes your company’s values and differentiators.
5. People
Use social media to reach your customers, stakeholders, and potential employees. Tailor content and messaging to address each target audience as well as your different buyer personas. Encourage customer engagement via social platforms and respond quickly and professionally to any comments, complaints or praise. Make sure to pass along relevant feedback to your team as well.
6. Processes
Programs like HubSpot and Hootsuite allow you to automate social sharing and schedule your posts in bulk, saving time and boosting efficiency. Designating clear intentions for each social network and developing a calendar to map out social posts in advance keeps your social sharing focused and organized.
7. Physical Environment
Your customers’ day-to-day physical environment has evolved to include technology, devices and daily engagement on social media. Social media has become more personal, with a heightened focus on interactive features such as video, animation and real-time updates. Honing in on the customer, their user experience and how to better it should always be a focus for your company.
The 7 P’s of Marketing transcend the traditional marketing methodology. These fundamentals can help you further engage and retain your customer base while building a meaningful social presence for your brand.
Schedule a consultation with us today. We’ll evaluate your marketing challenges and help you vet the option of adding content marketing into your mix. Our chat will even produce a free Marketing Plan Summary that will help accelerate your success.
Are you interested in working with a B2B marketing agency? Contact Sagefrog Marketing Group today.
