This document outlines the author's perspective on the marketing "P's" in the context of social media. It begins by discussing the traditional 4 P's of marketing (Product, Price, Place, Promotion). It then examines various attempts to expand on these, including additional P's for services marketing, and alternative frameworks proposed by other experts. The author argues that for social media marketing, the key P's are: People, Participation, Personalization, Presence. Effective social media marketing involves engaging in conversations with customers, personalizing messages, and being present and responsive on social platforms.
1. The 8P’s of Marketing in
Social Media
Mr. N. RAMAKRISHNA
Assistant Professor
Department of Management Studies,
St. Peter’s Engineering College,
Hyderabad, India.
Mobile: +91 9849139070
E-mail: rk.brecw@gmail.com
2. Who am I? Why should You care?
Who?
Sales and marketing experience since 1989
Degrees in Sales, Marketing and IT
Internet sales and marketing experience since mid-90s
Social Media experience since 2004 (1999, actually)
Done all the mistakes, now telling You what NOT to do
Why?
Only takes minutes to read this, but may well help you do
extraordinary things for times to come…
… and even help you save money and effort.
Okay, just read the rest of the slides and move on if not interesting
enough!
3. The 4P’s of Marketing
We all know Neil Borden’s 4 big ones, don’t we?
Product
Price
Place
Promotion
With flaws especially in relation to marketing Services…
that wasn’t relevant in the 1960s!
4. The 5th P… and then
some
And the there were 5…
Packaging, or perhaps
Process, or perhaps
People, or… hey, there’s at least 7P’s now!
(someone even added ’Physical Evidence’ and ’Performance’)
And then came the alternate 5P’s
Positioning, Packaging, Promotion, Persuasion & Performance
How many P’s do we have now altogether?
5. The not-so-new P’s
At some point the top Idea dude Idris Mootee came up with
4 New P’s
Personalization - no, not as deep as we now know
Participation - related to crowdsourcing type of activity really
Peer-to-Peer - now we’re getting somewhere… a 2-way street!
Predictive Modeling - algorithms actually
I can almost relate to these!
6. The 5P’s of B2B SoMe marketing
Joan Damico recently came up with a new set of P’s that actually
triggered this train of thoughts of mine. She says…
Policy – is just what it sounds like, who can do what and how
Plan – plan your strategy. Hmmm… Which company doesn’t? I know I do!
People – this time meaning internal resources… And off we go, to the
woods, says I!
Persona – What do we want to say, how do we want to look? Isn’t that
Policy & Planning?
Patience – takes time to see results, she says. And I say 3rd and out!
And I just don’t get it! ’People’ I understood in previous conversations…
7. The REAL 8P’s of Marketing in Social
Media
You can’t argue with the 4 Big ones, Social Media or not…
Product, Price, Place and Promotion still matter, no matter what you’re
marketing!
But the new ones! Hold your breath!
People! Clients, remember?! Same goes for Partners, Suppliers, etc.
Basically anyone you engage in conversation with in the web! In Social
Media, they rule! There’s a conversation 24/7 whether you’re there ornot.
It’s a 2-way street, no more shooting with a shotgun at anything that
moves, but targeted, Personalized conversations, where you
Participate in interaction with the crowds! When you’re using Social
Media for marketing, you need to be Present, get involved, reply when
asked and that sort of ’stuff’!
8. The REAL 8P’s of Marketing in Social
Media
So the next time someone asks you what that-Social-Media-thing means for
you, just say;
In Social Media, we market ourselves by Participating in
conversations with People, we give our company the face by
Personalizing our messages and we’re Present whenever they
want to talk with us!
If you wonder what Personalization means here, it’s all about
understanding your client, talking to them in language that they
understand, replying when asked, and taking advantage of the
huge amount of data that is out there for you to use. Personalize
your message, target the niches rather than use shotgun.