Do You Know Your ABCs? XYZ (Don’t Forget P) DQ!
Understanding your customers can be like trying to solve a puzzle on Wheel of Fortune. You know some of the letters but there are a lot of missing variables. Marketing is all about creating and delivering value for our customers, whether a product, service, or idea. “Marketing” in itself has a lot of different perceptions. There are the in-your-face, spammy, over-hyped marketers…the speed round so to speak. They push those high-pressure marketing programs that arrive fast and end fast. Then there are the other marketers that inspire, delight, and deliver to the customer's needs and wants. Those are the puzzles that typically propel you to the final round.
As in any game of Wheel of Fortune, there are multiple puzzles that lead to the final round…the big prize. For marketers, that big prize is brand equity. The AIDA Model is widely used in marketing to describe the steps that occur from the time when a consumer first becomes aware of a product or brand through to when the consumer makes a purchase decision. The acronym AIDA means to essentially create awareness, interest, desire, and action.
In order to build our model and progress through the wheel, it’s best to start with your ABCs. We, marketers, like to keep it simple and there isn’t much simpler than beginning with ABC.
The 4 A’s framework is a customer-value perspective based on the four distinct roles that customers play in the market: seekers, selectors, payers, and users. Using a blend of marketing and non-marketing resources, the 4 A’s include acceptability, affordability, accessibility, and awareness and must succeed using a blend of marketing and non-marketing resources.
The 4 B’s framework emerges from the digital marketplace and focuses on the online consumer. The 4 Bs take the 4 Ps online and positions for an optimal customer-centered experience. The 4 B’s focus on the brand being bountiful (place), balanced (product offering), bankable (price), and believable (promotion).
The 4 Cs classification was created to address the growing focus of marketing strategists on the consumer and focuses on niche marketing. The 4 Cs focus on customer value, communication, the cost to the customer, and convenience. Extending beyond one of the most well-known concepts, the marketing mix, also known as the 4P's of marketing; product, price, place, and promotion.
Ultimately, you have to know you’re A, B, Cs when executing your marketing strategy, but never forget to P either! If you know you’re A, B, Cs and hold your Ps, you can progress toward the final round having generated demand, qualified prospects. You are now ready to convert.
Interested in other topics or more details on digital marketing strategy? Reach out and let me know! Our goal is to be to help you market more efficiently and effectively! Understanding what are the key topics needed to solve your marketing puzzles can help you with the wheel of fortune! Last week we'll talked video..one of the top trends and likely here to stay. So, spin the wheel, sit back and enjoy the journey!