In today’s competitive world, businesses need to understand the importance and application of 7 Ps of digital marketing with the aspect of traditional business model. One must understand every element of digital marketing to create the better brand visibility, highly functioning and profitable business. In this overview, let’s explore the significance of digital marketing for your business growth and how it can enhance the overall effectiveness of your business strategy. Digital Marketing has proven to be an essential tool for businesses to expand their reach beyond their physical presence. So it has become crucial for businesses today that they benefit from the best digital marketing training and align their strategies accordingly.
The 7 Ps (Product, Price, Place, Promotion, People, Process, Physical evidence) of digital marketing, adapted from the traditional 4 Ps (Product, Price, Place, Promotion), have been formed specially for the digital age. We have broken down each of the 7 Ps of digital marketing in simple terms in the sections that follow.
1. Product: What You’re Offering?
Focus on the physical goods and services offered by you to meet customer requirements. You need to comprehensively research the various aspects of your audience as to who they are and what they really need. It also includes customer feedback for product improvement, which also helps in improving the product’s online visibility. The product should be of high quality with easy-to-access features, available in the market, and also meet customer needs.
2. Price: What Does It Cost?
It includes concern about the strategies and decisions related to setting the price for the product and services. You need to set a right price for your product and consider what your customers are willing to pay and what your competitors are charging.
Provide online payment mode options and offer membership plans for customer benefit. Provide customer centric payment options like EMI or Pay Later options to give a sense of satisfaction of not getting overburdened due to the cost of the product while making the purchase. This can also be done through best offers and discount coupons. Pricing should be transparent and worth the product. Also keep adjusting the price based on market trends and customer feedback.
3. Place: Where You Sell?
Place refers to where your product is available. You need to identify the right customers who need your product. Make your own e-commerce platform to enhance online presence and allow customers to purchase directly from your website. Additionally, use other platforms like Amazon, Flipkart to list your product to widen your reach and increase the sales. Make efficient use of Social Platforms to promote and sell your products where your audience hangs out.
4. Promotion: Getting the Word Out
You need to promote your product and plan the strategy to make people aware of your brand and product. It’s all about branding and creating awareness and interest through online platforms. Create a website for your business and optimize it to rank higher on search engines. Share valuable information through blogs, videos and other online activities. Also, use advertising campaigns (Google Ads or Meta Ads) to promote your brand awareness and generate leads.
5. People: Your Team and Customers
People are increasingly engaging with social media these days, and the market is also expanding digitally. Businesses need to expand their team for future growth and stay updated with the latest trends. Digital marketing is rapidly growing, and people play a crucial role in it, from the team behind your campaigns to the customers you serve. People want quick responses to their queries, so businesses need to build trust and strong relationships by fulfilling their customers’ needs.
6. Process: How Things Get Done
Process refers to how things get done; it involves all the steps required to deliver your product to the customer easily. It builds customer trust and provides a great customer experience. Product should be delivered on time and meet the customer’s requirement. Satisfy your customer to build loyalty and ensure they can purchase goods and services in future. Get feedback from your customers and improve your workflow effectively and efficiently. Use CRM (Customer Relationship Management) tools to keep track of your customer interactions.
7. Physical Evidence: Proof of Quality
Also in the Digital world, physical evidence plays a vital role. This refers to the need for proof that your product and brand is trustworthy. You need to maintain a website for your business that is user friendly. Display Testimonials or feedback from happy buyers and also share the articles, videos, and images that reflect your brand’s value.
In Conclusion, Understanding the 7 Ps of digital Marketing helps you create a framework for developing a successful online marketing plan. By considering the 7 Ps, you can develop your business and create an effective marketing strategy that will help you reach your target audience and achieve your organizational goal. Whether you run a small start-up or a large established business, understanding the 7 Ps of digital marketing is essential for success in the digital age. To learn more in detail, you can gain knowledge through a digital marketing course and learn the implementation of Digital Marketing strategies in a better way.
Also Read: https://tafrishaala.com/blog/what-is-digital-marketing/
