Daisy Kent
Daisy Kent 18 May 2017
Categories Data & Analytics

The New '4Ps of Marketing'

Neil H. Borden, in 1964, gifted the world with the 4Ps of the Marketing Mix: Product, Price, Place and Promotion. This concept has been a cornerstone of business marketing. However, there are new 4Ps of Marketing – just as powerful and just as game changing as Neil Borden’s.

We are experiencing a fundamental shift in the method of marketing, including,

  • the continued decline in digital marketing response rates even with an exponential growth in digital marketing spend;
  • a privacy revolution led by savvy customers who understand how their data is collected, used and benefits the brands and businesses they interact with;
  • how profiling and resultant attempts at personalization have failed to meet customers’ requirements.

At autoGraph, we have been working with the customer centric CMOs, CIOs and brands and we have demonstrated the need for a new approach with customers that address their fundamental data, profiling and privacy needs. 

We have summarized our learning into The New 4Ps of Marketing

The New 4Ps of Marketing: PERMISSION

Permissions are the binary decisions about customers’ data collection and use. GDPR will affect permissions and there is guidance from the ICO regarding explicit consent for a specific purpose and how permission data is stored and reported in case a customer complains to the ICO. 

Our advice for dealing with Permissions is two fold. First, build a RACI matrix before beginning your work on Permissions and mark Legal as “Consulted”. Marketing need to be “Responsible” and usability testing of plain English and clarity of customer actions is critical to have a robust permissions structure.

Second, brands must ask for permission at the right time. By using autoGraph and asking for permission after a “moment of trust” has been established, autoGraph delivers 93.4% OPT IN rates.

The New 4Ps of Marketing: PREFERENCES

Preferences let the customer control their marketing channel and cadence. We suggest having a “global opt in” and a “granular opt out”. By that we mean consider the following:

  • Allow customers to “take a holiday” from a channel instead of opting out
  • Be respectful of the personal nature of specific communication channels and use them appropriately (e.g. SMS versus email). 
  • Change the cadence on specific channels based on customer preferences. If your customer is a Foodie and you are a grocer, the customer might actually want to receive a recipe idea from you every day. Too many brands are missing opportunities to personalize their communications in exchange for “rules” and operational simplicity.

The New 4Ps of Marketing: PROFILE

How many stories do we have of brands getting profiling wrong? Charities fined by the ICO for their profiling practices; Target and teenage pregnancyMy TiVo thinks I’m Gay. The list goes on and on.

Profiling today is generally rubbish. Brands do not have a complete picture of the customer so they profile using just their slice of data or sniff the customer’s digital exhaust.

Our solution is simple: ASK THE CUSTOMER. Simply ask them. Do you like Ford? BMW? Mercedes?  What about Pizza Hut, Pizza Express and Papa Johns? Ask in a fun, engaging and easy interface. Add a dollop of AI fuelled by billions of transactions and customer engagement points and that is autoGraph.

But customers won’t participate, I hear you say. WRONG! 

Customers are desperate to tell you more about themselves!  Over 90.4% of customers who have been presented with an autoGraph experience, go on to create an autoGraph profile. Plus, the autoGraph profile is a holistic view of the customer comprising of their brand affinities, behavioural demographics, interests and attitudes.

The New 4Ps of Marketing: PERSONA

A Persona is who the customer tells you they are

Imagine a world where a customer comes to your e-commerce site and hands you a token.  The customer will tell you “Use My Fashionista Persona”. The Persona allows the customer to tell you directly “I have three children, I’m female and 44 but when I come to your site, I want you to market to me as if I am a 20 year old fashionista. I have a small disposable income but will splurge for the right accessory – especially a handbag or pair of shoes. I value convenience over discount because I am time sensitive. My fashion icons are Olivia Palermo and Solange Knowles.”

This isn’t science fiction: at autoGraph, we enable this today. Imagine how your marketing would change if every customer gave you a Persona!

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more
These 5 Changes Are Coming For Your Site in 2018. Are You Ready?

These 5 Changes Are Coming For Your Site in 2018. Are You Ready?

Let's face it, the Internet is ever-changing. Some changes you can’t predict: at the start of 2011, no one realized that responsive would practically be a requirement by the end of the year. But some changes are known and scheduled. Let’s look at some of the biggest changes that may affect the way your company communicates through digital channels.

Mike Norman
Mike Norman 13 October 2017
Read more
Collection Of The Best Email Testing Tools Online

Collection Of The Best Email Testing Tools Online

Don’t be afraid of email testing. There are many free or freemium tools online that can help you with testing your SPAM score, deliverability and even the rendering of your email. We feature 30 email testing tools in this article. Check out the complete list!

Roland Pokornyik
Roland Pokornyik 31 October 2016
Read more
Are virtual reality and augmented reality the next step for CMS?

Are virtual reality and augmented reality the next step for CMS?

In a fitting conclusion to a year many hailed as the “year of virtual reality” (VR), in December 2016, WordPress made it possible for users to create and publish VR content on any WordPress site. The change meant that users could publish 360-degree photos on their sites, and regular photos and panoramas could be viewed in VR.

Leonie Mercedes
Leonie Mercedes 16 October 2017
Read more