Social Media and the New Four P's of Marketing

Social Media and the New 4 P's of Marketing

presented by Bonsai Interactive Marketing

www.bonsaiinteractive.com

What is Marketing?

Marketing - is the process of performing various forms of market

research, selling products and/or services to customers and promoting them via advertising to further enhance sales.

(Wikipedia)

Forms of Marketing

- Numerous types of Marketing (interactive, direct, mobile, social media, email, SMS, telemarketing, PPC, search engine)

- One Common Goal: BUSINESS

Four P's of Marketing

- Product - Price- Place (distribution)- Promotion

- One Common Goal: BUSINESS

Social Media Marketing and the New Way of Doing

Business

The NEW Four P's of Marketing

- Persuasion- Intent- Traction- Sketchability

(Also known as your marketing is the PITS) ;-)


Persuasion - showing that your ideas are worth listening to

• The unique selling point (USP) of the product or service (you better have one, otherwise just let your competitors continue winning).

• What it means for the end user (ease of use, reliability, the “want factor”, loyalty).

• Manageable logistics (what do I need to do and how will I have to do it).

• Timescales and expectations (gestation period, launch period, return on investment period – and make this information realistic).


Intent - making the move from consider to the buying stage

• A strong call-to-action. This can be replying to a text SMS message for more information or signing up for a newsletter.

• Time-urgent details. Make a close-off date for an offer and stick to it. No-one’s fooled by “this weekend only” anymore.

• The nature of desire. Sex sells. It doesn’t need to be physical sex – turn your customer’s mind on and make them desire you.


Traction - the art of making your product sticky

• Don’t always reinvent the wheel. It takes time, research and money to build from scratch. Can you take an existing product and add something that’s sorely missing?

• Open your gates. One of the most successful video games of all time is Half-Life. Released in 1998, it’s a first-person shooter with a great storyline too. But what set Half-Life apart is the level builder that developers Valve released, allowing gamers to build their own levels and share across the web, leading to a thriving product years after the first shipment. Adaptability is key to any success.

• A solid engine room. The iPod isn’t the success it is because of design or geek love – it’s because of iTunes. No matter what system you have, iTunes just works – allowing it to change with you as your product preference changes too. It’s the iTunes engine room that makes the front-end so sexy.


Sketchability - the ability to create and amend on the fly

• Customer service could offer great insights on frustration factors;

• Distribution on realistic budgets and scale;

• IT on network stability and how your site will handle extra traffic; and so on.

• Give a pencil to all your team members and see what they can draw

Introduction: The Rise of Social Media in Business

- What is social media? A definition.

- Why is it important to business?

- Does size matter? Small business versus medium versus large.

- How do you know your business is ready?

- Defining which team will handle social media.

- Planning your entry into social media.

What is Social Media?

- The new way of doing business?

- The art of conversation?

- The voice of the consumer and the customer?

- A business' best friend?

- The natural evolution of people and the web?

What is Social Media?

- The new way of doing business?

- The art of conversation?

- The voice of the consumer and the customer?

- A business' best friend?

- The natural evolution of people and the web?

Or all of the above and more?

But Isn't Social Media Just Another Way to Sell?

Yes and No

Social media platforms offer a fantastic "in" to people you'd normally have to go through 16 telephone calls, 7 emails and 1 crabby personal

assistant to even make an appointment with.

BUT...

You still need to put in the hard work to create the sale, and have a solid message and understanding of how social media can help your

lead before you even make the connection.

So how do you do this?

The Relationship to the Sale

- Social search

- Friendly stalking

- Competitive analysis

- Social media audits

- AND START TALKING!!!

But Doesn't Social Media Only Benefit the Big Boys?

- "Only big companies have the manpower"

- "Small businesses don't have time"

- "We can't afford the budgets of large corporations

- "All the success stories are about Dell, Best Buy, etc"

If Social Media is All About Size Then What About...

www.beefandhayproducer.com

If Social Media is All About Size Then What About...

www.canadianpetconnection.com

Despite What Cosmopolitan Says About Size

In Social Media It REALLY Doesn't Matter

Being Small Doesn't Matter - Being Ready Does.

Business isn't like summer camp where we gather round the fire and tell each other horror stories.

Businesses hate horror stories, because it means they've usually screwed up.

Social media has its fair share of horror stories and these are the ones that stop companies from entering the space.

Ready for Social Media?

How Can a Business Ready Itself for Social Media?

- Social media brand ambassadors

- Social media education and policy

- Social media audit

- ALWAYS HAVE A PLAN B!

Where You Fit In

- Start defining your digital footprint now

- Bring your expertise and look at ways it can be used with social media

- Create mini-projects that take existing social media campaigns in different directions

- Make connections and ask for mentorship

Questions?

[email protected]

Social Media and the New Four P's of Marketing

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