For a customer interaction to incorporate the 4 P's, it must be personal, predictive, proactive, and generalized. Why the attention economy is so important for brands How to work with the attention economy Appropriate choice of advertising channel. The 4 P's of marketing refer to the product, the price, the place and the promotion. These are the key elements that must come together to effectively promote and promote the unique value of a brand and help it stand out from the competition.
When marketing a product or service, it is important to choose a price that is accessible at the same time to the target market and that meets the company's objectives. Customer interaction can be conceived as a two-way dialogue between a brand and a customer, sustained over time, similar to a long-term conversation. This allows marketers to better understand each customer and create more comprehensive customer profiles, and allows brands to attract customers with relevant content at the most important moments. This can be achieved by addressing the recipient by name, using their previous purchase history or browsing behavior to suggest products they might like and adapting the content of the email to their interests.
Over the past two decades, the cost of a minute of viewer attention on television in the United States has increased sevenfold, despite inflation. With a full waiting room, an appointment to come to within an hour, and a lot of paperwork, it can be tempting to hurry. Today, many marketers use the five P's instead of the four P's because they focus customer and staff experiences on the marketing process. Then, by interacting with a customer, often within the loyalty program, you'll be able to make the offers that are most valuable to them.
Of course, customers continue to come to you precisely because they are satisfied with the quality of your service, your products and services, but a well-thought-out loyalty program will always help to significantly increase the value of your brand. In addition, one-off user activity, such as “liking” or “sharing” on a social media platform, doesn't really mean “interaction”. First comes the product and immediately after that comes the determination of its value among the target audience. If you place your product in a place that your target customer doesn't visit, whether online or offline, it's likely that you won't meet your sales objective.
Successful products usually meet a need that is not currently being met in the market or provide a novel customer experience that generates demand. If the bank has implemented its omnichannel loyalty strategy, it can be expected that it will result in a sale.
