I recently attended a small business startup workshop and one of the keynote speakers talked about the formula for traditional marketing and its classical 4 “P’s”, being Product, Price, Placement, and Promotion. We have all heard that in some class dealing with business through the years so it is nothing new. I was to be the keynote for the following day and present the ideas of using social media for business. Most of the participants in the room were not “millennials” or even “Gen Y or X”; a large number were baby boomers. I began my address with an apology to the marketing instructor I followed as I told the room and then explained why. To meet the demand of those users, (a whopping 72% of people), who turn to the internet for information and purchase of goods and services that rules had to changed. There was now a fifth “P” to marketing called Participation.
Today, the consumer is no longer subjected to or will even accept a marketing engine that talks at them not to them. Brands are offering more goods and services and even sampling their wares to the public now more than ever. Consumers are now in control as Web 2.0 has started making them the voice to be heard and obeyed. Providers of goods and services are now engaged in social media marketing for business promotion. The days of buying shelf space are over. As a company seeking market share and desiring to keep buyers loyal to your products, transparency is the key. To be seen on the Internet, the word on the street marketing tactic is a powerful weapon used by businesses. Enter the fifth “P” or Participation it allows your and the customers to converse, cooperate, and collaborate as you build your brand, together. This in turn develops a concept I learned working in retail sales as creating a “Lifer” relationship. I wanted to be perceived as the expert that my clients knew and trusted, and would return to buy from in the future.
So now I said of all of that how about something useful, like how will my business execute the fifth “P” of marketing or Participation? There are four steps that need to be completed to insure one’s ability to maximize the Participation factors in promoting your goods and services.
1. The first step is to discover what people are saying if anything at all about who you are and what you do. In order to do this you will need to use a few tools that are easily implemented from the web. I personally like Google Alerts. It is a service offered by Google which notifies me by email or as a feed about the latest web and news. It lets me know if new web pages appear in the top twenty results for my Google web search.
2. The second step is to create awareness about your brand and you can do this by using social media tools to your advantage. Blogs, Facebook, even Twitter can be used to promote brand awareness among both current and perspective clients.
3. The third step is to analyze the impact and activity of your brand. What gets measured will get used. Look at your blog visits, search for yourself online, and see if there is any “buzz” about you. 4. After you have completed the first three, you now need to Participate. You need to get off the wall and mingle! Comment or post to blogs, send e-mails, set up and be involved in forums on your website where customers can talk to you about their challenges, and even go so far as to allow clients to post testimonials about your brand and company.
In short, participation means giving the customer permission to criticize as well as praise the goods and services of your company, ensure you are being inclusive in the entire process of creating brand loyalty. Make the path to these actions clear and assure your clients that you are genuine in your interest in them and hold their loyalty to you in the highest esteem.
If all of this seems like a lot to get your arms around, well maybe someone like Technology Workgroup can help. We are getting pretty good at helping both business and individuals successfully employ social media and empower their clients some of which are now raving fans!
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Michael Mock
Technology Workgroup
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