The Fifth Marketing “P”

Remember the four marketing P’s? Product, price, promotion, and place. With all the social media sites, blogs, and interactive apps, we think it is necessary for a fifth marketing P- people.

Today, we have social media sites that mostly connect People with People – but more and more often, they are connecting people with brands, products and services. Word-of-mouth advertising, or what I like to call keyboard-to-screen advertising, is bigger than ever before. Bing actually has a campaign advertising their Social Search, which not only allows you to search for what you’re looking for, but you can see what your Facebook friends have to say about it.

How many times have you heard a friend talk about the horrible experience they had at a restaurant? Or how overpriced a certain store was? Did you ever visit these places after hearing the horror stories? When I mentioned this topic to Amber, one of my co-workers, she told me a story about how her grandfather emphatically told her family they were not allowed to go to Denny’s. He had a bad experience and now his six children and their families were not to set foot in another Denny’s. Period. Almost a decade later, when they were visiting Niagara Falls, Amber and her family had no other option but to go to Denny’s for a meal. They had a great experience and subsequently, Denny’s redeemed itself in her grandfather’s eyes.

Many people have similar stories… and we, as a social society, want to know what others have experienced at places we may want to go to. Why spend your hard earned money on an experience you may not enjoy? That’s why sites like Urban Spoon and Trip Advisor work so well. They give us insight to places we’ve never been before.

Whether it’s through Facebook, Twitter, or any other site where people can share their thoughts, people will talk about brands, products, services and their experiences with them. The fifth “P” just may be the most important of all.

 

 

LWT is a full-service Interactive // Advertising // Social // Media // Content agency located in Montgomery, AL. Connect with us lwtconnect.com – facebook.com/lwtconnect

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