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Missing the Mark with Your Marketing Mix?

Hannah Aime
by Hannah Aime on Aug 25, 2017 8:57:13 AM

Online marketing is more than just obtaining higher positions in the SERPs. Say whaaaat?! Yep, we said it.

Over the years, marketing has become so much more than just an ad in the newspaper or a commercial on the tv or radio. With access to what seems like endless technology and  the capabilities we now have in today’s marketing world, as marketers,  it’s important that we utilize all that we have in front of us, both online and offline. Using a variety of marketing tactics to reach your audiences is one of the many puzzle pieces to marketing that many businesses are still missing. Attracting, engaging and converting your target audience is a big task and you can’t depend on one strategy.

Integrating your marketing framework as a whole will benefit your overall performance. Ever heard of the Marketing Mix and the 4Ps Model? If you have taken a course in marketing, this is a concept that is engrained into your brain. (I know my professors referred to it as least once per class period in college!)  Marketing, in general, is having the right product in the right place, for the right price, at the right moment. Some marketing tactics are just naturally “in the right place at the right time,” while others may need some more thought behind them and be pushed to the consumer in a more strategic manner. However, as marketers, it is also our responsibility to make sure we meet the shopper’s needs by offering the right product for the right price. For example, a consumer may be using their smart phone to purposefully look for a product that they need or want in that instant (right place and right time). Our job is to make sure that the product we are promoting, that will solve their problem, is what shows up in their results, and is at a reasonable and competitive price compared to other vendors (right product and right price). The way we position ourselves both on and offline, the content that we develop to answer their questions throughout the buying cycle, activity on social media, wording in online advertisements, and more can all play a role in how you adjust your Marketing Mix in order to be that brand that is there in the right place, at the right time, with the right product, for the right price.

 

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1. Product

The product or service sets the stage for everything else. What are you going to be selling to your customers? What problem is it going to solve for them? Is there any other product similar to yours already on the market? SEO, social media, content on and offline all play a large role in the visibility of your product online and attracting the right customers, but that is only the first step! If you can’t convince your audience that your product is better than others with your website content, online ads, social media posts, etc. you need to readjust elsewhere in your marketing strategy. Consider sending out a survey to consumers that have previously used your product or service to find out how they liked it. Use their feedback as leverage to position yourself ahead of other brands!

2. Price

Find a happy medium and carefully assess what you will charge for your service or product. Refer to the industry you are in. What are your customers willing to spend? What are your competitors pricing similar goods and services at? How low on the price range can you go before you are no longer making a profit?

3. Place

Where can consumers find your product for sale? Are you in the right spot for your target audience? For example, are they online or offline? Consider which social channels your demographic of customers will be on, what devices they will be using, what offline strategies will also play a role such as POP displays, newspapers, direct mail, radio ads etc., and what integrated messaging points you will use to grab their attention across all of your marketing channels.

4. Promotion

What types of marketing strategies are you going to use to rake in your potential customers? Where are your competitors promoting their products? The possibilities are endless! Wherever your customers are, your brand should be. Social media, search engines, online advertising, direct mailings, email blasts, etc. are all strategies that can be leveraged to work together with one another in order to maximize marketing success.

So your product isn’t selling like hotcakes? Step back and look at all of the initiatives in the 4Ps that could be hindering marketing success. Go back to the basics and remember that traditional marketing activities all intertwine with SEO, advertising, social media, and content development. Haven’t tried social media? Give it a whirl. Not sure if you should be sending direct mailings? Try it out and see what kind of response you get. Marketing today is like a strange recipe you see on the Food Network channel. Something that you may not think would work or taste good, could be the secret ingredient! Find the right mix for your brand and capitalize on integration!

You will be surprised what some small tweaks in other efforts can do for your overall marketing success!

Make E-Power Your Online Marketing Partner

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Hannah Aime
Written by Hannah Aime
Hannah Aime is an Online Marketing Specialist at E-Power, working to create meaningful, professional relationships with her clients, so that she is able to truly understand a brand’s goals in order to implement the most effective programs possible. Focused not only on attracting and engaging her clients' target audiences, Hannah goes further for her accounts, working to convert the traffic generated into meaningful fulfillment of her client's goals.

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