The 4 E's of Digital Marketing

While going through a power point presentation, I came across a very interesting perspective on Digital Marketing. By virtue of being a two-way medium and the advent of Web 2.0, the way we approach traditional marketing doesn't find place in the realm of digital consumer engagement process. It is important to see Philip Kotler's 4P's of marketing through the digital lens and see whether they pass through the digital filter.

The 4P's need to be replaced by 4E's in the basic digital marketing framework.

Product vs Experience: Unfortunately, digital is often used as a lead generating medium without any focus on brand building. Digital, if used judiciously, can be used to create an unforgettable brand experience that entices and encourages the consumers to not just consume the product but develop a long lasting relationship with the brand. A delightful brand experience can convince a consumer about the role of the brand in its life.

Price vs Exchange: The internet works on the basic principles of 'community living'. You share, I share. Its similar to the age-old barter system. You can't put a price to the content. Its available abundantly. More you share, more you would move up in the social hierarchy in the digital space.

Place vs Everywhere: Once your content/communication is out, it's everywhere. You don't select the touchpoints, the commmunity does it for you.

Promotion vs Evangalism: That's a dream of every marketing professional. You don't promote a brand on the digital space, you search for the brand champions.