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The Best of Web Marketing: the 4Ps:
The 4Ps, They Are A-Changin

                By Paul Harris
                    January 16, 2010

                    @paulcharris

Taking time to stop and observe best practices - both within your organization and externally - is one key ingredient to keeping your digital marketing saw sharp.

I will say, though, that attempting to pick a "best-of" list is like standing at a scenic vista and trying to pick the most magnificent mountain. There are so many people and companies setting examples of excellence that we can learn from. All you have to do is pause and take a look around you.

So, how are the 4Ps changing in the digital age?

Product:
New doors are opening every day to advance how digital products and services are presented and delivered. The devices we increasing use going forward will support user experiences that we're just now beginning to envision. But what about tangible goods? Everything you rely on for revenue needs a digital presence that accurately sets up the actual product experience you deliver. Either you create and support your product's digital image, or your critics will.

Price:
Biggest changes are occurring in online products and services, where micropayments are decreasing in transaction value and becoming more prevalent. Very high bandwidth, always-on digital distribution expands the doorway for metered service offerings. Regardless of your product's physical properties, the web experience you provide needs to support your pricing strategy. Long sales cycle, premium-priced solutions need to be supported by elegant, rich-media user experiences. Value offers or impulse buys need to be straightforward to navigate and may likely include free entry-level offers.

Placement:
Speed to market and positioning products and services in the right digital places is critical to success. Effective marketing must respond at warp speed to establish and maintain a competitive edge. The app revolution is a good example. It's like the Application Service Provider (ASP) boom of 1998 all over again, except this time around we design for any screen, and barriers to entry for app developers are miniscule. Place strategically, and measure constantly.

Promotion:
Traditional public relations theory like boundary spanning is more important than ever, as businesses reach out to previously latent market participants and proactively engage people in conversations. Organize communities and adapt your corporate culture and social media aptitude to support them, and the top of your sales funnel increases exponentially.

Hopefully you've found some value in this review. At the very least, I figured out how to use the word “vista” in conjunction with "best-of" and " magnificent." That's got to be worth something.

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