| The Five P’s of Digital Marketing |
The five P’s of the traditional “Marketing Mix” have shifted in the digital world. What do they stand for today? |
| Product |
The product is less likely to be physical nowadays, certainly initially. The sales process can be far richer and educational before any physical interactions take place. Use of web “to find out more” is the norm. Your offer must still be solid, but your perception building can be built earlier. |
| Price |
By leveraging digital technology devices real benefits can be created that can erode the need for pricing dependency. Think around your product or service, how can you make it easier, faster, smarter, longer using digital information to create greater value? |
| Place |
This has materially changed forever. No longer need you be localised. Distribution, language, sales processes have all been emancipated. The welder in Melbourne can now sell knowledge and expertise to Germany, manufacture in Thailand and deliver to Canada.
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| Promotion |
What a leap! Not only has traditional media taken a dollar hit, they have had to become accountable. While they are not out of the game, disruptive technologies are forcing a serious rethink. Now with digital media your dialogue can be worldwide or to an individual. |
| Participation |
Customer created content, blogs, wikis, interactive web, social media are morphing quickly and they invariably come down to the ‘rise of the consumer’ through devices that entertain engagement and require collaboration. |
With creative thought and good technology any product or service can benefit from this shifting world order. |
