4Ps – Process, People, Platform, and Performance
The new 4Ps of digital—process, people, platform, and performance.
Focusing on price, product, promotion, and place still makes perfect sense. It was a successful marketing strategy for over 50 years.
However, marketers must also focus on using technology to foster personalized experiences.
Studies show that:
- 81% of shoppers have done their research online before ever stepping inside a store.
- 74% get frustrated when messages and offers have nothing to do with their interests.
- for marketers looking to create meaningful connections with audiences across digital channels, customer relationship management (CRM) is an essential.
- new 4Ps offer new ways to meet consumers’ needs.
The head of any marketing department must contain:
- internal processes,
- and personnel while coordinating technologies to profitably execute and prove ROI.
Process – marketing leaders have increasingly come under pressure to deliver on organizational strategy and brand engagement.
People – the key is personalisation. Consumers demand more personalization.
Platforms – choosing the most effective platform for your business is critical.
Performance – Some of the essential key performance indicators (KPIs) for measuring the success of your CRM are customer service, engagement, response time, conversion, loyalty, and advocacy.