Five New Ps For Information Marketing
Remember the Four Ps from Marketing class in college, or maybe from marketing-oriented websites online? They are, of course: Product, Price, Promotion and Place. Also called the “marketing mix,” consideration of each factor results in the detailed outline necessary to write and implement a marketing plan.
Well, according to Kamil Tahir at Experian, now there are five new Ps for information marketing, essentially for marketing of any product or service these days. Tahir’s list consists of descriptive words designed to trigger marketing efforts that are sharply focused with cutting edge tools:
Predictive – Use of testing, models and analytics to predict future behavior from past behavior;
- Personalized – Use of personal customer data and preferred communication methods;
- Permission powered – Use of opt-in forms and emails to assure permission to communicate;
- Peer reviewed – Use of customer comments and published reviews to understand customers;
- Proactive – Use of all the previous points in a consistent manner, immediately.
Information marketers have more tools to achieve good results now than ever before. Naturally, the internet is responsible for the fact that there is more information available, as well as the obligation to use it wisely and often. Setting up a grid with the traditional 4 Ps across the top and this list of 5 Ps along the left-hand side would be one way to identify the intersection points.
There’s a good, academic exercise idea if you’re into that sort of thing. It could result in some new ideas, and it could also confirm things you’re already doing right.