As everything changes, things in marketing could not be different. The famous 4Ps of marketing are giving way to the 4E’s and today you are going to discover everything about this new strategic vision.
Also known as the Marketing Mix , the 4Ps represent the four basic pillars of any traditional marketing strategy , which are Product, Price, Place and Promotion.
The success of any traditional marketing campaign is based on the balance between these 4Ps.
With the emergence of digital marketing , these 4Ps gave way to the 4E’s, which we will see below.
What are the 4 E’s of marketing ?
With the evolution of marketing the mix changed in this way:
The Product gave way to the Experience .
The Price is now Exchange .
The Plaza , which would be the point of sale business owner data, gives way to “any place” which in English is E veryplace.
And finally, Promotion gives space to Evangelization or Engagement .
From product to experience
Nowadays there are no unique products, the variety is so great that for a product we have an infinite number of varieties and options that can satisfy the basic need for which they were designed. That is why the product is no longer essential.
Nowadays, what is considered and valued most is the experience that this product brings . This experience can be sensorial and even subjective. Many times we buy a product simply because of the image we have of the brand, without considering other factors.
Digital marketing no longer sells products, but rather experiences. A unique experience is irreplaceable, but a product is not.
The end of price
Price has always been a word with a negative weight. So much so that many sales professionals have, for some time now, replaced this word with others, such as value, investment and various synonyms that give the word a lighter appearance.
Well, this transformation also occurred in marketing , but at a broader level.
The price has given way to exchange, what does this mean exactly? Let’s understand it a little better.
The price calculation used to be based on the raw materials and the production and marketing costs of a product. Today, as experience is added to the product, the emotional factor must also be added to the price.
A transaction is not limited to just paying a value for a product. Nowadays, money is not made by selling products, it is made by selling experiences.
An experience is not just an object, it is an object that, in addition to fulfilling the needs for which it was designed, brings other benefits, which may be free delivery, satisfaction or reimbursement, etc. and in exchange for this experience we not only expect a monetary value, but other things are also expected, a positive evaluation, customer loyalty, etc.
What was once a simple product-for-price transaction now goes much further, offering more to the customer and expecting more from them as well.
The square is no longer a point of sale
Before, when we wanted to consume something alessandra bollero marketing specialist , be it a product or a service, we had to go to a physical location to acquire what we wanted.
Nowadays, with the Internet, everything is very different. We can consume from our home or from any other place where we have access, all we need is a connected device and an online payment method . We have everything just a click away.
Physical stores still have their place, but technology has changed everything. How many times have we done an internet search before buying something in a physical store? And how many times has something we’ve found made us change our purchasing criteria?
The square is no longer a point of sale, it is any place where we have access to the internet that works 24 hours a day. There is no longer a time or place to buy.
And the promotion?
Today’s advertising and communication cannot be limited to the media promotion that was done in the past; today it is much more than that .
New concepts were created and Inbound Marketing emerged, which seeks to create this engagement in customers. Through Inbound we educate the public to consume our products. It is a strategy that requires more work and dedication but in the end brings excellent results.
Every brand expects its customers to be evangelists for its product and not just consumers; it expects loyal followers and spokespersons who generate content in its favor . And influencers play a major role in this regard .
Influencers are people who have the public’s credibility on a certain subject. But within a community, anyone can be an influencer . By captivating a client to the point that they become an evangelist for your brand, you will have an influencer within their community.
Social media plays a key role here. When you manage to generate engagement with your customers, they can share your content and even generate new content about your brand. This content has more promotional value for this person’s circle of friends than any paid advertising.
The way we do marketing accompanies the jpb directory development of our society. It adapts to changes in order to attract a greater number of users and consequently increase the growth of a brand. This is what digital marketing does : improve the communication of a company with its customers through the most used media today.
As you can see, all of this is quite broad, but it can bring you excellent results. If you want to enter this world full of possibilities for your company, download this free e-book with everything you need to start a successful digital marketing strategy .