The Missing "P" in Your Marketing Plan
"People are more loyal to their need in the moment than to any particular brand.” – Think with Google
Marketers come from a transactional methodology that derives from the 4 P's: Price, Product, Promotion and Place. Economic and technological evolution has given consumers the option to go anywhere (and competitors to be everywhere), making transactional marketing efforts not enough. So how do we become Beyoncé in a world full of Beckys?
Be transformational. Move from tactical function to a strategic function. Serve a purpose by providing value to people. The missing P, is people.
Re-think why your brand exists, and how it makes people feel. Not how you want to make them feel, but how you actually make them feel. Focus on the satisfaction and effort you provide. As Tom Fishburne, creator of Marketoonist says, "The best marketing shouldn’t feel like marketing.”
Reconsider who your people are. Demographic shifts allow for brands to focus on specific audiences and decide whether to serve the entire journey or just a segment. Say it with me, you cannot be all things to all people. Narrow and prioritize audiences based on objectives and not because you have the targeting capabilities to reach all potential consumers.
Refocus on creating great experiences instead of launching products. Omni-channel marketing creates access, but also abundance of clutter and lack of consistency. Brands struggle with quantity of channels compared to quality of channels. Understand your consumer’s digital preferences and make sure the experience is the same across all channels not just on every channel.
After brands rediscover their purpose, and put the people first, transactional services turn into transformational relationships. Remember, Don Draper is no longer in charge, the people are. Take their lead.
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