What is Digital Marketing?
‘Putting the right product in the right place, at the right price, at the right time.’
It sounds easy right? Yes it does, it is always easier to say than do.
Digital marketing requires lots of hard work and research.
And digital marketing is about building a funnel, a marketing funnel to drive your target audience to be your customers and eventually to be your loyal customers.
However, if 1 element is off the mark, a promising product or service will fail completely and end up costing the company substantially.
Is it that serious? Yes, it is and Pounce Digital is a group of serious marketers. On top of that, we are Growth Hackers who delivery marketing strategy with engineering approach.
How does growth hacker deliver marketing return to the business?
We use the marketing mix.
Marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering. The marketing mix is most commonly executed through the 4 Ps of marketing: Price, Product, Place and Promotion.
The product is either a tangible good or an intangible service that meets a specific customer need and/or want.
Every product has its own product life cycle. It is important for businesses to understand what the product is attempting to solve. The benefits offered by the product and all its features need to be understood and the unique selling proposition of the product need to be studied. In addition, the potential buyers of the product need to be identified and understood.
Price covers the actual amount the end user is expected to pay for a product. How a product is priced will directly affect how it sells.
This is linked to what the perceived value of the product is to the customer rather than an objective costing of the product on offer.
Place refers to how the product or service is brought to the consumer.
Traditional, it is about the geographic location. Nowadays, it is about the platforms you are using. It can be Amazon, eBay or your own websites.
The channels you use to get the product or service to the consumer add to or lessen the final cost.
On top of that, the easier the payment process is, the high the conversion rate is.
The marketing communication strategies and techniques all fall under the promotion heading.
These may include advertising, sales promotions, special offers and public relations.
No matter what channel you are using, the most important thing is to drive traffic to your platforms and let people know you are in the market.
You may ask, “Can I focus on one and do the rest later?”
We recommend to focus on them as a whole in your business strategy. Building a business is like making a chair. The 4Ps are like the legs of a chair.
If one of the legs is missing, too long or too short, the chair is not stable.
Similarly, if you are very good in promotion but you don’t have a promising product, you customers will leave.
If you have a good product but don’t have the right platform to sell it, you will have inventory issue, product stacking up without any sale.
It is about how to balance the growth.
Pounce Digital helps businesses to identify the 4Ps and help them to grow healthy and substantially.