We all have studied the four P’s of marketing are the components of the marketing mix, a popular marketing and product promotion theory proposed by marketer Edmund Jerome McCarthy. The 4 P’s are Product, Price, Place & Promotion. These factors are the major ones to be considered while creating a marketing strategy for a product or service.
How to apply the marketing mix while promoting a Digital Marketing Agency?
A digital marketing agency provides online marketing and promoting solutions like blogging, social media management, online reputation management, email marketing, PPC campaigns, and other digital services to its clients. In this scenario, the services offered by the agency are its products.
Before you read further, if you’re just starting do check out our blog on how to start a digital marketing agency without any money.
Let’s look at how to apply the 4 P’s of Marketing to your digital marketing agency.
Product
The product, in the marketing mix, is the commodity that is being sold by the business. It can be a physical object or an intangible service that a business is offering. When promoting its services, your digital marketing agency should consider all the relevant factors that make those services distinctive and better from its competitors, and how those services can provide solutions for buyers to fix their business pain points. Showcase USPs and craft your content in a way that captures your prospect’s attention and compels them to consider hiring your digital marketing services.
Price
It is the value that your customers are willing to pay for your products or services. Price is determined by several factors such as your target market, prevailing market rates, competitor’s pricing strategy, and profit-making for your agency. You can think of offering services at discounted prices for a limited period to attract more customers or add some offers with your services to make it more lucrative for the buyers. The mode of payment also affects the pricing factor. Some customers might prefer one-time payment for the services, and some might opt for monthly payments as per their convenience and budget. The end goal should be maximizing profits while keeping the price affordable for the customers.
Place
It refers to the location where customers can have access to your services. In a digital marketing world, that location is the Internet. A digital marketing agency offers online services to its clients, and therefore, for customers to access your services, you have to target the online channels for service distribution. Your agency should exist on every relevant online platform so that your buyers can find you easily. This can be done through writing SEO friendly company blogs, setting Google ads campaigns, creating a strong social media presence, emailing your leads, and other online promotional methods. The easier your B2B prospects can find you, the more are your chances of getting service contracts.
Promotion
Unless you are not promoting what you are creating, how will you sell it? Promotion is the essence of marketing, and being a digital marketing agency, it is crucial to show off your online promotion tactics to impress your prospective buyers. Of course, you can put ads in newspapers and flyers, but why do that when you can connect to a maximum number of customers online? What’s the better place to reach out to your buyers other than digital media itself. Advertising your services on digital platforms will help you to make your brand visible to your prospects.
In the highly dynamic digital world, you have to constantly upgrade your tactics and execute these 4 P’s to meet the demands of your buyers. The product, price, place, and promotion create a strong base for your overall marketing strategy. Make sure the quality of what you are offering is superior to that of your contenders. Be informed while deciding the price for your services to not lose out to your competitors. And finally, make sure your services are within the customer’s reach, both online as well as offline. If executed opportunely, these strategies can result in escalated revenues for your digital marketing agency.
