The four Ps of online marketing are probably the most important factors involved with the success of any product or service. They include the product itself, promotion, price, and place. Often referred to as the “four P’s”, the four Ps are often constrained by external and internal factors within the marketing environment, and they often interact very significantly… if at all. When marketing online, the primary Ps have to be addressed, while those that pertain to product and promotion must be carefully considered.
Promotion is the key to online marketing success, and is also perhaps the most important element. Many businesses and marketers believe that it is the only price that matters. However, it is really the combination of both that is very important, as well as how it is presented. As a rule, if your product is priced well, you will most likely generate a substantial amount of traffic through search engine optimization, pay per click advertising, article marketing, blog marketing, email marketing, etc. If your product is priced too high or is too poorly priced, you are more likely to lose traffic, in addition to having a very low conversion rate.
Place is the process of presenting the product to the market. A good place to start would be by having a website with a website description and product/service description that are unique and informative. This will create an identity for the product, as well as increase the chances of the customer contacting you. While this is important, it must also be given a high ranking on search engines, which will result in customers clicking through to your site.
Price is also very important in order to generate sales. When pricing the products and services of any online business, whether it is a large corporation or a small online business, it is critical to set a price that is fair, as well as competitively priced. If the prices are too high, there will inevitably be less sales, even if it was a popular product or service sold at the lower price. Conversely, setting a reasonable price can also result in increased revenue and new customers, while also creating more customers who are interested in buying at a higher price.
Promotion is also an important aspect of the promotion of any online business. It must be clearly defined as to the kind of promotion strategy that is to be used, whether it is direct email marketing, article marketing, PPC, pay per click, social media marketing, etc. In other words, the promotion must be clearly defined to match the product and the type of promotion. This is also the place where many mistakes are made, such as placing too many banners on one page or too many ads on one page.
It is also important to remember that when online marketing, it is very difficult to predict what is going to work and what is not going to work. As long as you understand and plan for your market and what works, you will achieve success. It is also important to understand what your competitors are doing, as well as the competition in your niche, as well as their strategies in order to be successful.
