The 10P of Digital Marketing

The term "Marketing" is used in very different meanings, ranging from covering all aspects of market-oriented business mgmt to the merely operational planning and execution of campaigns and promotions. With reference to the latter definition, "Digital Marketing" is often confined to the employment of digital technologies for the purpose of delivering communication.

Such confined view on "Digital Marketing" however doesn't capture the strategic dimension, which should come first: in the same way as Strategic Marketing begins with thorough market research and customer understanding to develop the value proposition, position the brand and to define the marketing mix for customer approach, Digital Marketing should contribute to all these aspects  - it should comprise the 10P, which are laid out in this article. Digital technologies have the power to radically augment the entire value chain of marketing:

In order to collect customer insights, new customer data sources like Social Media profiles allow to employ Psychometrics to capture customers' individuality in a way that makes the old idea of "segment of one" come true. Predictive analytics on the basis of digital data sources will enable marketing organizations to anticipate changes in demand patterns way ahead of time.

Digital has for sure challenged the brand control, companies can exercise. However, brands can turn this into an advantage by exhibiting Plasticity, allowing customers' Participation in the brand building process via Social Media, crowd sourcing and Evangelists.

Perhaps most importantly, Digital is able to add a new level of Personalization to the marketing mix, making customers' Permission the foundation for all content communication.
The execution of marketing campaigns on the basis of digital Platforms and amplified by digital Partners generate a new optimum of effectiveness and efficiency.
The business potential of Digital Marketing is of course only accomplished on the basis of relentless Performance measurement. This also requires an agile marketing operating model geared to learn from the numbers and to adapt in high Pace.

The elaboration above demonstrates how the transformational potential of Digital in Marketing can be summarized as "10P of Digital Marketing". The 4P of Marketing do not accommodate for the opportunities of the Digital Age (and neither do further developments like 7P, XP...). 10 different P need to be considered to unlock the true potential of Digital to Marketing.
The illustration relates the 10P to the traditional Marketing value chain. This should serve as a framework to consider the power of Digital Marketing in its entirety and not confine it to talk about tools and gadgets. In further posts, I hope to go into more detail with regards to the 10P.