When I did my degree in the late 90’s there were 4 Ps of marketing; price, product, place and promotion, otherwise known as the ‘marketing mix’. If I Google the Ps of marketing 20 years on, I see the addition of process, people and principle to make 7 Ps and sometimes even more…
And when Push Start Marketing takes a client through a marketing audit (or even audits the one they’ve already got), I work through my list of 20 Ps that a company should consider when creating a comprehensive marketing strategy.
All are important, all are inter-dependent and all need to work in harmony, supporting each other.
It takes time and effort to go through, dissect and compose all these elements but the long-term benefits are exponential and is what marketing dreams are made of.
1. Product/Service
What’s your product and service. Can it be easily defined and it’s USPs communicated?
2. Positioning
Where in your industry do you want to position your business/product/service (high, low or middle)
3. Personality
You’re going to be communicating with a whole host of people and different audiences. What kind of language will you be using to do so? What is the personality of your brand and how is that going to be sustained, managed and translated across your operations?
4. Price
Are you at the right price point, do you have a clear pricing structure? Does this support your positioning?
5. Promotion
What are you doing to promote your product or service?
6. Profiling
Who is your audience? Do you know who they are and what influences and motivates them? Profiling will help with all aspects of marketing. There’s a Buyer Persona template on our Helpful Stuff page for this.
7. Place
Where can people buy/access your product or service - how are you driving them to the point of purchase?
8. Planning
While new opportunities need to be taken advantage of, forward thinking and planning is crucial. Seasonal planning, content planning, event planning will enable you to utilise the entire marketing mix effectively minimising stress and maximising on known opportunities.
9. POEM
Paid, owned and earned media. Covering all you are doing and could be doing online to create interest and desire and drive clients/customers to the point of purchase. Is your website performing, do you have a clearly defined social strategy, are you converting your paid-for leads?
10. People
Who is in your business and how do they behave? They are all front-line marketeers and ambassadors for your business and need to understand where you want to position the company, the personality, philosophy and principles. Are they being educated on representing the brand correctly through all their interactions, even internally?
11. Process
Have you got a smooth process for your clients/customers? If you are not offering a smooth and clear experience your marketing efforts will be derailed when they engage with you.
12. Payment
Is payment a simple, safe and secure process? Do customers/clients understand what they are paying for and how and when they need to pay. What is your process for non-payers or late payers? What about delivery and refunds?
13. Physical Evidence
Traditionally this is about the tangible, physical elements of the business, the physical environment, signage, atmosphere and the physical experience your customers have of your business. However, with the rise of the internet the environment becomes more about design, messaging and the buyer’s journey and experience online. Physical evidence is also evidence of happy clients/customers = Performance.
14. Performance
Testimonials, videos, reviews and social recommendations – however or wherever you can collect the evidence you are known, used and highly regarded. Use the feedback to strengthen your position in the marketplace and reassure new clients/customers. You can also set key performance indicators (KPIs) on performance to ensure you’re hitting feedback goals.
15. Printed Materials
Print is not dead, it’s just more expensive and has a longer shelf life. It is where all the previous Ps discussed come together to create tangible physical printed evidence of your company. Print needs to be smarter and more effective than ever.
16. Philosophy/Principles
Audiences, more than ever, want relationships with their suppliers/providers and being able to clearly communicate your business’ principles or philosophies is key to connecting with your audience and establishing what your brand ‘stands for’.
17. Promise
Tied in with your principles and philosophy are your promises to your clients. What do you always provide, how do you always treat people what are the things they can rely on that distinguish you from your competitors?
18. Persistence
New strategies may take time to take effect. The marketing rule of 7, although greatly influenced now by social media, still stands. Have patience and persistence with a well thought out marketing strategy and if you’ve aligned all the P’s you’ll achieve your goals.
19. Perfecting
With anything there is an element of trial and error. Measuring, analyzing and modifying is an obvious way to improve performance. With goals set you can monitor your progress towards them, analyzing data and modifying your approach/strategy for the future.
There is another P out there, as David Pearson wrote The 20 Ps of Marketing: A Complete Guide to Marketing Strategy, in Dec 2013 which, now I’ve discovered it, I will be reading but we could include passion, productivity, persuasion, publicity, partnerships all of which have their place in the marketing mix.
But for now, my 20th and final P is Push Start Marketing consultancy days; asking the questions, digging for answers and piecing it all together. If it’s clarity and insight you’re searching for so you can move forward with your marketing strategy, you’ve come to the right place.
Call me on 01993 224522 or 07813 846569 to speak to me about when you can come in for consultancy. What’s the worst that could happen? Coffee…