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The 4P’s in a Digital World: How the Internet has changed Marketing Practices, Forever!

The Internet has been the biggest disruptive innovation in the past decade, affecting the lives of everyone around us. What does it mean for businesses and, more specifically, their marketing departments, to operate in the digital world of today? Effective Digital Marketing and Brand Management have been the vital differentiator of successful and unsuccessful businesses for many decades now. The extensively networked world of today that the Internet has built, is changing the landscape of marketing and brand management like never before. In this scenario, the traditional rules of marketing are being challenged every day. While the why of marketing and brand strategy has remained unchanged over time, how needs to be reinvented in today’s world. The 4 P’s of marketing has been a staple in a brand strategy of all successful businesses since the term “marketing mix” was distilled into its 4 components by E. Jerome McCarthy in the early 1960s. The advent of the Internet, however, has changed consumers like never before. There is no doubt that brands need to rethink the 4 P's of Product, Place, Price and Promotion to stay relevant in the marketplaces of today. Digital Marketing Courses  

Here’s a quick glance at some of the new facets of the 4P’s in the digital world:

  Promotion: Promotion is perhaps the most widely affected pillar of the 4 Ps in marketing. With increased marketing intelligence and insights into consumer behaviour, marketers and brand managers are today able to target their communication with extremely high degrees of precision and accuracy. The ability to accurately target brand communication has changed the way marketers look at Promotion, forever.   Product: In the digital marketplace, the focus on the Product has remained, but has been supplemented by the user experience. While the digital marketplace may sell the same products as a physical store, the customer experience is vastly different because it lacks several components of the buying experience, such as touching the product, talking to an assistant, and so on. This has been replaced by the focus on the digital user experience, like customer base preferences, product comparison, and the onus today is on the UX (user experience)   Place: Places for brand visibility and customer outreach in the virtual world are largely dependent on the positions at which the brands appear in search engine ranking pages, organic as well as paid visibility and the overall brand presence in social media.   Price: While this is among the least changed P in the marketing mix, the increased visibility of competitor pricing has also caused a significant change in the overall brand strategy of a successful business. New trends include price offers, discount offers on continuous purchases and the increasing relevance of competitive pricing as consumers expect better product pricing from digital marketplaces.   The Post Graduate Certification in Marketing and Brand Management from the Mudra Institute of Communication and Advertising offers aspiring marketers and aspiring brand managers the opportunity to earn a certification from one of India’s most respected institutions for advertising and mass communications. Delivered on Talentedge’s next-generation education technology platform, it aims to provide the best of convenience to working professionals who can access the course from any device at any time.  

Some myths about email marketing, Just for your information:

No matter how many marketers have written off emails as an internet marketing tool, the fact is that it remains popular. A study reveals that 72% of people still prefer emails as a medium of communication over other channels. Emails are here to stay and so is the email marketing. (Source: Marketing Dive) If email campaigns handle poorly, it can do more harm than good to brands.  

In order to help you leverage email marketing effectively, we have debunked the following five myths.

 

Myth 1: Customers are quick to mark unwanted emails as the ‘spam’.

Emails are notorious for spamming. However, the fact is that only less than 1 out of 2000 subscribers are known to mark emails as spams. So, you can rest assured that the probability of your emails going to the spam folder is minimal.  

Myth 2: Customers are already overwhelmed with too many emails from brands.

If you think that your email will be lost in the pool of emails that barrage the mailbox of customers, then you don’t need to worry anymore. Statistics reveal that 60% of customers receive less than 6 emails every day from trusted brands and 40% among these received only 3 and fewer emails. So, your email has high chances of delivering the message intended.  

Myth 3: More the number of emails you send, more the customers will ignore you.

This does sound logical. However, it isn’t the case in reality. If you send four emails every month instead of one, then it doubles the number of customers opening at least one of those emails. In fact, some brands have registered a significant increase in revenues with this email strategy.  

Myth 4: Keep your marketing emails short.

Who has the time today to read long texts? So, ideally, the short and sweet mantra should work. The truth is that it can be of varying lengths, depending on your product or message you want to deliver. It is advisable to pen a lengthier email rather than the one that includes incomplete information. If your product is technical or complex in nature, the content need not be restricted to fewer sentences.  

Myth 5: Emails with short subject lines gives better results.

You must have been often receiving advice to limit the subject lines of emails to 25-30 characters either because customers read only a few words or it should fit into the smartphone screen. Studies have revealed that subject lines over 70 characters increases clicks whereas under 60 characters increases open-rate. Do you know that there are several other such myths that you might be not aware of? You can ease your worries by enrolling in a digital marketing course. The right kind of digital marketing training will ensure that you stay abreast with the true facts.   More Information: A Step-by-Step Guide to Digital Marketing Get The Edge With An Online Digital Marketing Course 10 Best Digital Marketing Courses to Advance Your Career Kick-Start Your Career With The Best Digital Marketing Course Benefits of Digital Marketing Courses for Working Professionals

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