Marketing is one of the most important pieces to any business, whether they are just starting out or have been around for years. A marketing strategy can make or break your business, so you want to make sure you are planning all the details.
For years we have talked about the 4 P’s of marketing: Product Price Promotion Place I believe these are still the core to marketing but 3 more P’s are also very important: People Process Physical Evidence
If you are not taking a look at these 7 elements in your marketing on a regular basis than it is time you did. Everything that happens in your business falls into your marketing in some way. If your people do not follow the proper processes and leave your clients upset and unsatisfied all your other marketing efforts impact is diminished. You can have the best price and product out there but if you are not promoting to the right audience your product will not move off the shelf.
A client came to me one day and was very distraught on why his business wasn’t growing. He wanted some suggestions and some ideas. We sat down and talked a great deal about his business and I could tell he was very passionate about his company and product. He was competitively priced but his brand recognition wasn’t growing. I asked him how he was promoting his company and discovered that was the biggest problem along with his physical evidence. He had a wonderful Product, great Price, his Process was right on, and his People were great; but he didn’t have his Promotion figured out. He was promoting to the wrong target audience. Once we researched where his clients were at and promoted there his business grew substantially. This shows how not focusing on just one of the P’s can really affect the growth of your business. He was focusing on all the other P’s and doing a fabulous job but that one P was holding him back. Don’t miss a single P in your marketing.
“True Joy comes when you inspire, encourage, and guide someone else on a path that benefits him or her.” – Zig Ziglar
Tell me your P’s of Marketing story.