Conventional marketing was all about the 4Ps – Product, Price, Place and Promotion. All the MBA graduates, advertisers and sales people are taught about these 4Ps. It was once propounded by the entire marketing fraternity that Product, Price, Place and Promotion shall remain the guiding and traditional principles for eternity. Now that marketing is re-inventing itself and is constantly evolving, online marketing or digital marketing has changed the 4Ps. The 4Ps of online marketing are:
To win the hearts of target audiences, marketers are hedging their bets on email marketing, social media marketing, influencer marketing etc. The performance of such campaigns is assessed through various parameters such as the number of impressions generated, click through rate, blog hits etc. However, the most importance performance indicators are:
- Brand Cognizance
- Interactive Impressions
- Sales lift
Online advertising is another genuine way of creating a positive impact on the people.
Programmatic advertising is all about reaching the right target audiences. The problem with traditional form of advertising is that you can always reach a lot of people but seldom the ‘right’ people. Programmatic advertising which is an integral part of programmatic marketing is all about connect with the right audiences through intelligent mechanisms such as PMP- Programmatic Marketing Platforms.
It must be remembered that marketers should arrive at a viable estimate how much revenue a firm can make if programmatic marketing goes well. If the viable projections do not make much sense, it is better to rely on alternatives.
Platforms are the various avenues through which people are able to access the internet. Some of the platforms are:
- Smart Phones
Different platforms have different requirements. For example, you have to decide if your brand requires a mobile optimized site or an exclusive mobile application. Similarly, the technology stack used for designing both mobile optimized and desktop websites is quite different from desktop only websites.
Suggested Read: Online resources to learn digital marketing
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