01/11/2022
Four E’s are the Future of Marketing ✨
The 4 P’s of Marketing have been around for a long time. They represent the traditional marketing process that companies would follow to sell their products and services - product, price, placement, and promotion.
To put it simply, the four P’s have lost their punch. It’s time to enter some E’s into the equation.
The future of marketing involves the 4 E’s: experience, engagement, exclusivity, and emotion. Instead of how and when the 4 E’s consider why someone would connect with a product or service.
1. Experience
Through experience marketing, customers get to know you and your product or service so they can make a lasting and real connection.
Consider live events, product launches, demonstrations, and pop-up shops. According to a recent survey conducted by Event Track, 85% of consumers are likely to purchase a product after participating in these types of experiences.
2. Engagement
As with any type of engagement, it takes time but is worth the effort. Around 74 percent of customers said engagement marketing was more likely to convert them into buyers than other types of promotion.
There are five types of engagement marketing and specific examples include:
-asking for feedback
-free classes
-how-to videos
-sharing information about a complementary product after a purchase
-donating an item to a charity for each item bought
3. Exclusivity
Whether it's FOMO (Fear of Missing Out) or the desire to belong, exclusivity strikes at the very core of human needs. Offering exclusive experiences and offers builds loyalty and momentum for businesses.
Creating waiting lists, having company owners personally invite clients to product launches, setting deadlines for purchases to earn discounts, creating preview sales, and limiting quantities are key components of the exclusivity strategy.
4. Emotion
Most of us want to feel like we are part of something bigger than ourselves and that our choices influence the greater good. Brands and companies can leverage these emotions to build loyal followers through storytelling, imagery, and authenticity.
You can share why your company developed a product or service, staff bios, pictures and history of the "early days" of your company, customer success stories, photos of your product in action, and videos demonstrating your company's community service.
Read more here: https://buff.ly/3gvsJ0M
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