The 4 P’s of marketing, the classic principles of marketing, they’ve been around for a while. A long while, over 60 years!
This framework was first published in 1960 (though its origins can be traced back to the 1940s).
In 1981, researchers extended that model to the seven principles of marketing, or the 7 P’s of marketing.
What are the 7 P’s of marketing?
The seven Ps of marketing (also known as the marketing mix) are product, price, promotion, place, people, process, and physical evidence.
These seven elements comprise the marketing mix.
It is important to pick the right things to sell, to getting your target audience to buy them, to keeping them satisfied and coming back for more.
How to use the 7 P’s in affiliate marketing?
The products or services a business is offering. Consumers need to know what is included, what they can get out of it, what needs or wants it fulfills, and why the product or service you promote is better than the competition.
Choose carefully the company & products you will promote in your online affiliate marketing business.
Ask yourself if it’s a quality product that will lead to customer satisfaction? Market research will help you a lot by answering this question.
Pricing strategy is critical to the success of a business.
The merchant and not by us as affiliate marketers controls the price of the product. When choosing your niche product, ensure that the price is in sync with its value and quality.
As affiliate marketers, we are ahead of the game when compared to our retail counterparts. We use all the digital marketing strategies that are available to us: website blogging, SEO, social media, YouTube, email marketing, displaying ads and even podcasting.
Of course, as affiliate marketers, we do not have a physical “place” for people to come.
If you haven’t already got this marketing principle figured out: it is your website.
Therefor it is important that they easily find your website, easy to navigate and clear to read.
Make sure that you target the right audience to promote and sell to.
Respond to emails, blog comments, and social media posts from your audience. It’s the human touch of your business that signals to your audience that there’s a genuine person on the other side who’s listening and working to give them an enjoyable experience with the brand.
Process is one of the marketing principles that helps to streamline and simplify your operations, which has benefits for virtually every aspect of your business. You’ll find that optimized processes contribute to lower costs and more productivity.
People like to receive something that evokes their senses to confirm that they have gotten a product or service, even if it is just the receipt.
P for Partners
Yet another one added to the mix is partners when it comes to affiliate marketing.
To keep good relation with your audience, only recommend products you know are good and relevant to your niche.
If you know that the products on sale are not a fit for the need, or even scammy and deceptive, surely you wouldn’t want to associate your name and reputation with the company that provides those.
Once you’ve developed your marketing strategy, this “Seven P Formula” you should use to continually evaluate and reevaluate your business activities.
This formula places a business in the market and ensures the target audience is satisfied, value perception is accurate, and to stand out from competitors. Implementing these P’s in the best way you see fit for your online business can become extremely beneficial.
If you’re looking to start a new business online (or offline), take the time to think critically about the seven principles of marketing and how you can apply them to your blooming business model.
All the best,
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