One of the worst things a brand can do is forget how connected sales and marketing should be.
When both of your teams have different approaches and systems—or, worse, when they’re sitting on opposite sides of a meeting without talking to each other—you know your brand’s in trouble. Sales and marketing should always act like two halves of a whole, and there’s nowhere it’s more clear than in one fundamental marketing strategy: the marketing mix.
A good marketing mix can streamline your marketing strategies while simultaneously boosting sales, making it an essential one-two punch for any brand, new or old. How can this marketing strategy affect your overall sales? Let’s take a look at the basics.
Hone Your “Four P’s” to Attract and Retain Customers
One of the most common ways to sum up a marketing mix strategy is the “Four P’s,” meaning the product, price, place, and promotion. Making sure that each of these are aligned with your customers can help streamline the sales process and earn you more loyal fans.
This means considering each component with care.
Product. To start, make sure that your product—meaning the product or service you’re selling—should fulfill one of your customers’ specific needs. You should always be working to hone your product’s competitive edge to create better opportunities to take the lead in sales.
Price. Your price, as you can probably imagine, isn’t just about profit. Instead, it’s about what your customers are willing to pay, as well as the perception your price creates around your product (e.g., an affordable solution or a high-end status symbol).
Place. The “place” refers to how you distribute your products, whether that means online e-commerce sales or offline distribution. Strategies like placing your product with the right retailers and offering convenient distribution, for example, can help you get a leg up over the competition.
Promotion. The right promotional strategies can help you bring all of the Four P’s together. Whether you’re leveraging social media, online ads, or blog posts to make yourself heard, it’s important to consider how you’re communicating your offerings to your audience.
Find Better Ways to Enhance Your Customer Loyalty
When it comes to sales, offering a world-class customer experience is one of the best ways to convert—and one of the best ways to create loyal customers and fans.
This, of course, means that you should always be reconsidering your approach to the Four P’s to better serve your audience. Essentially, any adjustments to your marketing mix should be made with the customer experience in mind. Here are a few essential areas to focus on:
- World-class customer service from your helpful and knowledgeable team
- High-quality products and services that offer excellent value
- A body of evidence (e.g., case studies, testimonials) showcasing that value
- Loyalty incentives and memberships to encourage engagement and repeat purchases
As you hone your Four P’s and learn to better target your audience, refining your sales approach will get easier. As always, your marketing strategy is essential to your brand’s sales, which is why it’s so important to get your marketing mix right. If you’re just learning the ropes or feel like you’re struggling with your tactics and techniques, don’t hesitate to reach out to our team for help!