Anyone who has taken an introductory course to business most likely learned the 4Ps of marketing. The 4Ps concept was developed over 70 years ago to help companies craft their marketing strategies. It consists of the four key components (product, price, promotion, and place) of marketing.
As technology advances and marketing methods shift, you will be happy to know the marketing mix is following suit. There are now three more Ps to explore.
- Physical Evidence
However, to keep this blog post short and sweet, we will only cover the original four of the marketing mix.
The goal is to identify each point, so readers in the unified communications industry can work through the Ps, establish the definition of their target market, and use the resources best. Knowledge of the target market is extremely beneficial for any business, especially for unified communication resellers. Since UC services are not tangible products, marketing campaigns look different. Also, whenever your business grows or your product suite changes, you can revisit the four points and adjust accordingly.
Every business is built off a product or service that solves a user’s problem.
When you think of your offering, ask yourself these questions.
1. What is it?
2. Who needs this?
3. What features does it have?
4. What problems does it solve?
5. What do you have that competitors do not?
You will better understand where your company sits in the market by answering these questions. In the UC industry, the solutions you sell are complete product software suites. The solutions are also customizable, so your customers can rebrand as their own and start using them immediately. Understand your product inside and out, so you can better sell it to your customers.
As we all know, there is no one size fits all solution for UCaaS. Different businesses require different needs, so it is not easy to set a standard price across the board. Since UC packages are customizable, it is best to allow your customers the option to pick and choose what they need or want.
However, at the end of the day, you are running a business and want it to be successful. You need to make a profit, so your prices must be competitive yet fair. Explore what competitors are pricing and keep in mind any discounts or offers you will give out.
Consider how you want your business to be perceived in the industry. Are you the luxury option? Or the cost-effective option?
Remember that your provider will sell you the software licenses at a certain amount. It would be best if you always charged above that to make a profit. Ask your provider for advice and build packages based on your target audience.
Ah, unified communications, a remote worker’s dream. UC has features like chat, video, screen share, and all the tools users need to work where they most desire. So, if you can work from anywhere in the world using UC, why can’t you sell UC to anyone worldwide?
This means you are not restricted to one geographical market when selling unified communications solutions. Resellers can tap into a market or unlock an industry that has not yet been utilized.
Last but not least, promotion! How are you going to market your business? Similar to place, it is important to think of location when you look into ways of advertising. There are many options, such as print or social media. However, you then must consider different platforms.
When selling B2B, chances are you will find more potential customers on LinkedIn vs. Tik Tok. Do not discredit other platforms; they are great for building brand awareness!
Examples of places to promote:
- Print in an Ad
- Banner Ad on a Website
- Blog Post
- Social Media Post
- Guest on a Podcast
After reading this blog post, how do you feel about your business’s marketing mix? We hope you found this helpful and ideas sparked for future promotion!
Learn why you should be a UCaaS Reseller and be a part of this ever-growing, million-dollar industry by becoming a Bicom Systems partner today. Stay tuned for our next blog post, where we dive into the newer Ps in the marketing mix.
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