For decades we have been bombarded with 4Ps of marketing. It includes Product, Price, Place, and Promotion. With the spread of the internet and the ascent of connected devices, customer information is available aplenty. It is like drinking water from a firehose. Without a new approach, a lot of opportunities would go begging. 4Ps of marketing are being replaced by 4Cs. It includes:
Content: Content is the new currency. But customers are fed up with too frequent sales messages. The contents should be educating, entertaining, and engaging, and it should be non-obstructive.
Context: In his book, Contagious, Jonah Berger provided a recipe for making messages viral. One of the elements in his formula was Triggers. Contents have to be contextualized. It increases their relevance and consumption.
Connection: The content should be easily accessible to the users. It should be provided in a format and using a medium that is most preferred by the customer. The customer should be able to share the content with others. All these factors combine to establish an integrated connection system.
Community: Human beings have always had the desire to build communities. The wired world is not an exception to this behavior. We connect with people who are like us or whom we desire to become. Communities are built on online/offline forums, on social media, in buyer/supplier meets. Communities make it easier to access customer needs and demands, test our ideas, take feedback. It enhances customer engagement, and thereby retention.
Metrics:
Develop your 4C Strategy.
Experiment with several channels and formats before shortlisting the essential few.
Subodh
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