Where Does Social Media Fit Into The Traditional Marketing Mix?
2018 March 13
In the 1950s, the Four P’s of Marketing (the “Marketing Mix”) - Product, Price, Place, Promotion - became popular in business classes worldwide. These four pillars have withstood the test of time, even as new technology has modified them slightly. But has Denver digital marketing and social media disrupted this Marketing Mix and sent it into oblivion? We’d like to suggest that it’s bumped up the mix and super-powered it.
Where Does Social Media Fit Into The Marketing Mix?
Product (or Service)
Your product isn’t affected at all by the social media marketing strategy you’re utilizing for your organization. The function, appearance, quality, and other physical attributes are not changed in the slightest with utilizing social media.
While the internet has, of course, changed shopping habits for consumers, including making them more savvy when it comes to pricing, it does not directly affect the price of your product or service.
This is the true physical process and location of where your supply chain is and your point(s) of distribution. While eCommerce has changed the distribution model slightly, it hasn’t greatly changed the logistics of needing to ship your product out.
Small disclaimer: One way social media HAS changed the Placement quadrant slightly is that companies can network or “do business” on social media - no matter the time of day or needing to dress up. Customer questions can be answered in pajamas. Complaints can be responded to without having to run a comb through your hair. You are in the same spot as your customers, 24 hours a day, 7 days a week.
When you boil down Promotion, it’s essentially about communication. This is 100% of what social media is about. And this is the “P” that social media has most affected.
With social media marketing, you can take advantage of reaching a much larger audience, connecting more directly with your core customers, and providing timely responses to customer concerns and complaints. You can also utilize social media testimonials and referrals to gain new business.
Added bonus of adding social media into your traditional marketing mix: Promoting your brand on social media can be done for a fraction of the price of print or traditional marketing!
If you’re looking for a creative and professional Denver Digital Marketing firm, let Denver Media Group help you create a digital marketing strategy that’s customized to your business or organization!
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Posted In: Social Media and Digital Marketing