The 4 P’s of Social Business

It used to be the case, when marketing first became a profession, that the 4 P’s held sway. The 4 P’s were the shorthand to make sense of the plethora of activity that sales and marketing was becoming; they led to a code of practice of sorts that made sense, reference points in a unified framework able to guide a brand’s overall sales and business development.

They were the firstly ‘product’, the tangible good or an intangible service that’s mass produced or manufactured at large scale with a specific volume of units.

Then ‘price’, the amount a customer pays for the product which the business increased or decreased the price paid if other stores had the same product.

‘Promotion’, representing all of the communications that a marketeer used in the marketplace and finally ‘place’, the way of getting the product to the consumer and/or how easily accessible it is to consumers.

That was then and this is now, and as marketers think about how to corporate social business into what they’re doing there’s arguably just as much of a need for a framework, for the same kind of sense-making.

If we’re doing it all again, what might the 4 P’s look like today? Well, here’s a suggestion:

People. Your core asset. Whether they’re inside or outside the business itself, in social business people are number one, they’re both the creators, and the carriers, of your media and messages. As things turn out, no amount of viral agency cleverness comes close to doing the job without them; so get to know them, connect with them, create relationships with them in and across the communities in which they exist. The people are the new product that powers any form of social organization.

Platforms are the conduit of that connectedness. Platforms can be proprietary, like Facebook, Twitter and Google +, they can be bespoke as your own communities inside and outside the business, and they can be shared, as places of connected interest, the places of old, where people will gather.

Protocols. Old processes may still be in place in many organizations, culture change takes time, and neither people, platforms or points of connections can do much without being enabled by them. Social businesses depend on the cohesion generated by protocols, that is the ability to feed information through the pathways that can be easily understood and taken for granted. Softer and more fluid than processes, protocols are ‘how we roll’ the collective, intelligent, agile and learning ways the organization puts in place the means to grow and become more effective.

Points of connection are the pulse points that move people when brands are experiences. They’re the moments that matter, the values that are shared and everything that people come into contact with as the touchpoints of the social brand. As social business fundamentally changes how we ‘do interaction’, that thing we used to call marketing becomes a series of points of connection, a purposeful exchange between you and your people around shared social objects.

Many brands and organizations are just at the start of incorporating social business and media into the way they do things. The four P’s may have changed, but the idea of finding a framework to make sense of what’s needed remains the same, a kind of connective tissue that can unify and help frame what social business means. Ideas people can buy into create elegant transitions. It would be great to hear what you think – does this resonate with today’s networked business needs, what’s missing?