A few years back Ogilvy & Mather introduced a new framework of marketing in the article titled ‘The 4 Ps are out, and the 4 Es are in’. Though this article was written quite some time ago, it couldn’t stand truer today. In it, they suggest that the traditional teachings of the 4 Ps of marketing – Product, Place, Price & Promotion, are outdated and should be replaced with the more modern framework – Experience, Everyplace, Exchange & Evangelism (also known as the 4 Es).
The concept of the 4 Ps was created in an era where marketers ruled over consumers and products endured long shelf lives before being replaced with the next best thing. It definitely cannot compete in today’s ever-changing digital industry. The Internet has changed the way people find, research, and buy. In order for marketers to truly succeed online, they must adapt to these new buyer behaviors. If you want to be successful in today’s online market, you must shift how you (and your online efforts) approach your consumers.
It is time for you to make the leap from a traditional 4 Ps of marketing approach and replace it with the modern 4 Es, and we are here to tell you how.
What are The Four Es? What Do They Mean for Digital Marketing?
Product to (Website) Experience
Consumers today are more focused on the experience they have with a business rather than the features of the product. The amount of data available to you today makes it easier to see what your customers want. By harnessing your website’s analytics, you’re able to understand your customer’s journey, from initial contact to point of purchase.
To understand your buyer’s experience through your analytics data, start by considering how people view your business on different devices. For example, do your customers have a good experience on their mobile devices as well as desktop?
The goal is to give a consistent and enjoyable experience across all platforms from mobile and social to your website. The experience customers have with your brand should be the same no matter where they find you.
Place to Everyplace (Online)
People spend a large amount of time researching products online before they buy. Positioning your business in everyplace online keeps you front of mind.
Your consumers’ needs will change depending on when in the sales funnel they find you online, and how they access your content. Google makes it so that every page on your website is accessed just like your homepage. The easier it is to find you online, the easier it is for customers to convert. If you are not everyplace your customer looks online, you can be sure your competitors are.
Price to Exchange
What your website offers is not always something tangible. Sometimes, you ask for your website visitor to engage with you on a different level rather than making a purchase. Perhaps your goal is for them to download an online guide or report. Maybe you want them to sign up for your newsletter.
No matter what you’re trying to get them to do, you need to earn their trust. This way, they’ll feel comfortable exchanging their coveted information, such as their credit card number or email address.
Promotion to Evangelism
With social media, you have the opportunity to turn your customers into evangelists. To do this, you need to give them a reason to share what you offer. This means you must promote evangelism over your products.
Start a conversation with your followers and fans and give them a reason to talk about you. The more reasons they have to spread the word about your business, the more evangelists you’ll have on your side.
Don’t hold onto the past, Say hello to modern marketing
Many businesses have had tremendous success just by making these changes. Have you put any of these 4 Es into practice in your marketing? In the fast-paced industry of digital marketing, it is essential to create a strategy that encompasses SEO, mobile and social. This may all seem overwhelming, but our experienced team of digital marketing specialists can help you update your strategy to meet the needs of today’s competitive online market.