Marketing – The New 5 Ps For Marketing
You likely already know the 5 original “Ps” to marketing – product, placement, packaging, promotion and price. However, in today’s business environment there are 5 new marketing “Ps” to consider to transform your business.
Personality – People want to see the personality behind the brand and they want that personality to be honest and congruent with the way the person is “off stage” too. For example, Sir Richard Branson shows his fun-loving, adventuresome side of his personal life while the Virgin brands are also fun-loving and adventuresome. Even if the personality behind the brand are the employees they need to be congruent with the personality of the brand. No grumpy people working at Disneyland; only tender dental hygienists working at the “tender dentist” etc.
What is your brand’s personality and are you including it in your marketing?
Purpose – Every business has a purpose — to make money. There are other purposes to consider though. Purposes larger than the business or product itself. For example, the purpose of our business is to reinvent lives globally and the best way to do this is to help business leaders to transform their business to become S.T.A.R.S.™ – Sagacious | Transformational | Attractive | Resourceful | Sustainable.
What is the purpose for your business and/or brands? Are you sharing your purpose with your customers, employees, prospects and supporters?
Passion – People want to connect with people who share their passion – whether it’s reinventing lives, transforming businesses and communities, living off the grid, living a healthy and happy life, driving race cars, travelling the world, leaving a legacy, paying it forward or denouncing ways we are being manipulated by big business.
Do you show where your passion lies in your marketing?
Platform – Your platform is what you are known for. My platform is reinvention. My friend Sohail Khan’s platform is joint ventures. My friend Karen’s platform is the mind/body connection.
Ideally you want your name / brand to become synonymous with your platform – think of shoes and you think of Zappos. Think about books and you think of Amazon. Think about a magical vacation with small children and you likely think of Disney.
By becoming clear and focussed you will be able to hang out your “platform shingle” which helps you expand your reach through strategic partnerships and your marketing.
What is your platform? What do you stand for? What are you known for?
People – Your people make or break your business. People * Power * Profit so how do you ensure you are marketing to the right people so they become your employees, your customers, your vendors, and your strategic partners etc? You do it by being very clear what your mission, vision, purpose, passion and ideal customers are. You take a stand. You invite those who you want in your circle, your tribe and your community to join you. You ensure that those who you do not want to associate with don’t are kept on the other side of the “red velvet rope”.
Are you attracting the right people to your business?