Why the traditional four P’s of marketing are only half the battle

It is only in the last decade or two that the value of connection has truly come to light. Connection isn’t only something that happens within family structures at home, it is an essential element in building friendships. Connection is necessary for learning to take place, which is why we all have good memories of teachers we connected with as children. Those teachers are the ones with the lessons that lasted.

Similarly, connection is the missing key to selling well. We’re seeing that the most effective forms of advertising lie in cultivating relationships that facilitate two-way conversation about our services. People want to be heard and understood and if marketers are to keep up with the world’s expanding knowledge of psychology, they need to see marketing as a conversation starter.

The traditional four P’s cover the following:

  • Product – A product might be a service, but this refers to your offering. Traditionally, you would have come up with a product or service that either meets an existing demand among consumers, or it is such a remarkable concept that it has the power to create new demand.
  • Price – Consider the price of creating your product or delivering your service, remembering that fuel costs are constantly on the rise and may bring about further expenses in the near future. Factor into this the price that you believe consumers would be willing to pay for what you’re offering. Add in your profit and tax amounts. Compare this figure with what your competitors are charging to get an idea of the financial viability of your product. It is worth spending time with an accountant to get some industry projections to measure costs and demand.
  • Place – You will need to define your target market clearly. Outline where you believe they shop, what their needs are, what they dislike and what would simplify their lives. Consider where you are most likely to reach them.  Online or face-to-face interactions. Knowing where to advertise is critical for the success of our sales. Place also refers to the production elements of the business, like the location of factories, shop premises, suppliers, and transport costs.
  • Promotion – This is the actionable aspect of marketing and refers to the advertising work. Your social media posting, video creation, content writing, PR, canvassing, and promotional events all form part of the promotion section.

The three P’s that we need to add to that list cover the human elements that lead to connection and steer brands away from the temptation of simply broadcasting in their approach to marketing. We can break them down as follows:

  • People – Add a sense of humanity to your marketing. People connect with brands that have ‘heart’ and this requires a brand to also show the side of them that is fallible. Consider the happiness in the workplace you’re providing to your teams. Acknowledge the human elements within each of your clients. Aim to improve the lives of everyone that crosses pathways with your brand.
  • Purpose – Connecting with a deeper purpose is where you will build a connection to your potential clients. Connect with the desire to solve one of the problems in the world and make this your purpose, working it so that profit is a side effect of following your purpose.
  • Passion – Passion breeds connection between people because it is contagious. If you feel passionate and inspired in your purpose, your team will echo that excitement. In turn, your clients and potential clients will also connect with that passion and feel drawn to it.

It has become increasingly obvious that the more we discover about the human mind, the further we can build on existing methodologies to sell. Have you incorporated connection into your marketing strategy?