If you studied marketing in school, then it’s likely that your idea of the 4Ps are anchored on traditional marketing principles—product, place, price, and promotion.

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Through the years, marketing has evolved so much that even familiar marketing mnemonics have shifted. The arrival of online and inbound marketing techniques and concepts introduced us to a more customer-focused version of the 4Ps. Where the traditional methodology put the spotlight on the brand, the new 4Ps for inbound marketing focus on customers and customer experience. To that end, here are the new 4Ps for inbound marketing:

1. Persona

A buyer persona is a composite personality of the person that you think uses your company’s services. It represents your business’ ideal customer—from basic demographics to interests and hobbies.

This can be based on data and insight collected from existing customers or from additional theoretical research that you can use to supplement it. They are critical to the success of any inbound marketing campaign because it helps you craft your content and product to specifically cater to your audience’s needs. After all, you want to make sure that you’re actually offering something useful and relevant to your users so they keep coming back to your site.

2. Product

It doesn’t matter if your business is focused on traditional marketing methods or inbound marketing strategies. Your product, the very thing that your users pay for, is important. Your credibility as a company is hinged on this and your ability to grow your business is dependent on whether your product is good or bad.

So, as you’re trying to improve your inbound marketing strategies, don’t ever lose sight of your product. A good product and a great inbound marketing strategy are two necessary components to success.

3. Place in the Purchase Cycle

Connecting and engaging with your audience is most effective when you’re able to reach out at critical touch points in the purchase cycle. Achieving this requires you to create multiple entry points into your buying cycle. Therefore, be sure to create varying points of contact to truly maximize your opportunities with your users.

4. Purchase Path to Conversion

Your target audience very likely goes through multiple stages before they actually convert. It usually starts with some research and it eventually leads towards a purchase. Additionally, every customer takes a unique path towards conversion. Mapping these out can help you connect with customers at the right time. For instance, sometimes, to complete a purchase, all a customer needs is more information about a product or service. Other times, a more overt reminder that they have pending items in their cart is what’s needed.

The key is knowing where they are on this path and knowing how to approach them.

There you have it. If you want to learn more and find out how you can start your inbound marketing strategy with a more focused, customer centric approach, do get it touch with me at Leadspanda and I’d be happy to personally discuss this further.