One of the most basic combinations of approaches often seen in marketing plans is referred to as “The 4 P’s”.
- Product/service: Is the product/service right for your target customer/audience?
- Price: Is it at the right price point?
- Place: Is it in the right place to be purchased or found.
- Promotion: How will you let customers know the product or service is available, how much it is, and where they can find it?
It’s the right product, in the right place, and at the right price.
Imagine you’re selling gallons of 2% milk…
Do you try to sell a gallon to people searching for new cars on Google?
Do you sell them for $50 a gallon?
If a customer shows interest in your milk, do you try to sell them a garden hose instead?
No, no, and no!
It’s not always so obvious, but I’m sure you get the point. The same goes in online marketing. The more accurate you can be in your targeting, the more efficient your campaign will be and the less money you’ll be leaving on the table. Instead of wasting time, energy and bandwidth trying to cram every possible bit of information on to your web page, figure out which elements are most important to your audience. What 20% of your content is contributing to 80% of your sales?