Seminar: Assessing the new 4P model

Topic Number:7

Principles of Business: Stage 2 Marketing

Overview

With digital tipped to be the major growth area of the future it isworth considering how it influences and shape the marketinglandscape.

We have seen a host of implications that will impact digitalmarketing in the future such that culminate into a recentlydeveloped new 4P model for the digital future. Today’s seminarwe will look at this model and assess each new ‘P’ to determinethe viability of the model.

We will start by looking at the role of permission and the right toonly be contacted if prior consent was given. Secondly, we willassess whether we need to subtly persuade customers topurchase from an organisation. Thirdly, we will look at the needto adapt and personalise communications to the target audienceand finally the need to be present and represented across allchannels in a seamless way.

3

• Critically assess an upcoming digital framework highlighting its pros and cons

• Determine and discuss the extent to which the new 4P framework holds true in marketing activities in the future

• Assess the extent to which some aspects of the framework may take precedence over the others

Learning outcomes of this seminar

Agenda for this seminar

Permission: The importance of providing consent to be contacted

Personalisation: The need to speak to every customer as an individual

Presence: Being represented across all channels from bricks andmortar to social media

Persuasion: The art of subtly getting people to buy your products

Permission: The

importance of providing

consent to be contacted

Consider your own experience

You visit a website or log-in to an account

You inadvertently signed-up to their newsletter

daily

How do you normally feel and react to this?

What are anti-spam laws?

Anti-spam law restricts the sending of unsolicited marketing emails

(‘spam’) to individual subscribers. Unsolicited emails can still be sent to

corporate subscribers if they are relevant to their work.

Anti-spam law is enforced by the Information Commissioner and

breaches can lead to a fine of up to £500,000. There is also civil liability to anyone who suffers damage as a

result of the breach.

The rules are in the Privacy and Electronic Communications (EC

Directive) Regulations.

Impact of clicking on the spam button

Some studies estimate that 30% of recipients click “this is spam” button to email marketing campaigns (Mail

Chimp, 2014)

What are the consequences?

The recipient’s internet service provider starts to watch your activity and if enough people hit the spam

button all your emails will be blocked.

Complaints can also be forwarded onto the ICO

Data Protection Key Principles

Persuasion: Getting

customers to buy INTO

your company and

products

Re-thinking the sales funnel

Persuading via Digital

Using Social Media to Generate Fans

Influencing non-digital business as well

Personalisation:

Every customer is an

individual

Generic communications less effective

CRM is not new, but has never been more important; as

communication between brands and customers is increasingly a

two way dialogue, CRM has become pivotal to retaining

customers. It has become a case of survival of the fittest. Brands

that do not know what their customers want and deliver

accordingly, demonstrating loyalty in the process, will be forgotten.

CRM is integral to ensuring attainment of these objectives.

Personalisation helps you to…

• Convert,

• Cross-Sell

• Up-Sell

• Nurture

• Build relationships

• Supporters

• Activists

• Superfans

• Referrals

• Attract

• Capture

Making you make better decisions

Presence: Being

represented across all

channels from bricks

and mortar to social

media

Bricks and Mortar Business Enough?

“our resilient brands will strengthentheir market positions and performance as they comprehensively satisfy the preferences of our customers”.

Chairman HMV, 2007

“We are not changing directionwe will continue to move full-steam ahead with our core business, which is Blockbuster stores“

CEO Blockbuster, 2001

Need for omni-channels

Click and Collect: An example from Tesco

End of Seminar

Note: This recording is for your personal use only and not for further distribution or wider review.

© Pearson College 2013