4 ps of business

The 4 P’s Of Business

In Advertising, Marketing Strategy by @cobblemedia

What You Need to Be Successful in ANY Vertical

Building, evolving and sustaining a business is not for the faint of heart. From marketing and promotions to brand development and workflows, there’s a lot to consider when it comes to managing any business. It’s enough to get even the best entrepreneur’s head spinning.

But here’s the good news — when you boil it all down to the fundamental pieces, the business puzzle starts to look a lot more manageable. When you break your organization down to its fundamental elements and focus on those first, you’ll be able to better steer yourself and your company towards success. Those four pieces?

#1. People

Your PEOPLE include two key groups — your team and your audience. Building the right team and the right team culture is essential to success in any industry. And once you have that in place — even if it’s a team of one for now — you can focus on part two: your customers. Whether they’re shoppers, readers, users or something in between, your audience will fuel the momentum of your business every single day. Without them, it’s not a business. Without them, it’s a hobby.

Focusing on customers has always been critical to success, but never more important than right now. In today’s always-on landscape, consumers are dictating how, when and why they engage with brands, and it’s up to those brands to connect the dots. They could be reading articles on their smartphone one minute, then popping back to check out a new offer from their desktop later, then watching your latest videos on their tablet that night. And you’ve got to stay laser-focused on their every move and every unique need every minute, by leveraging optimization and personalization best practices that make sense for your business.

#2. Process

And once you’ve got the people in place, how are you going to engage and activate them? With your powerhouse PROCESS. Depending on the nature of your business, this could be anything from how you drive new leads and pull them through your sales funnel to your customer acquisition process to your incremental engagement tactics. Whatever connects customer to brand to product is your process. And it’s your job to constantly refine and reimagine that process over time, as your business grows and evolves.

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#3. Product

And let’s not forget the WHAT of it all: PRODUCT. Your product is exactly what it sounds like — what are you offering consumers?

That’s not to say it has to be a “product” in the traditional sense. Your product could be a service, a system or, even, a piece of content. Whatever your brand puts in front of customers is your product.

#4. Positioning

What connects the people and the process to the product itself? The positioning — the final P. Positioning is how you articulate and present your product to your people. It’s central to your process — your outreach and customer engagement tactics will be deeply rooted in your positioning, at the end of the day.

Often positioning encompasses a host of tangibles — the hard-hitting benefits products bring to the table — with some more elusive intangibles. Think about it — that shampoo cleans your hair, but the commercial might tout the experience that comes with every bottle. Both play an essential role in positioning, and both help connect customers to your brand and product.

Get your Ps in order and you’ll be setting your business up for serious success now and in the future. As long as you stay focused on these four pillars, you’ll be able to cut through the clutter and focus your time and talent on what matters most — and build a powerhouse business in the process.

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