This shouldn’t come as a surprise to you, but at Summa Media, we are marketing nerds! There is nothing that we love more than talking theory and processes with our roofing clients and seeing the smiles on their faces when they see what we discussed working for them in real life.
Right now, what we’re really geeking out over is the 4 Ps of Marketing. Not sure what the 4 Ps are? That’s OK! Today, the Summa Media team is talking all about the 4 Ps as they relate to roofers. Keep reading below to learn more!
The 4 Ps as They Relate to Roofers
The 4 Ps
The 4 Ps, also referred to as the “marketing mix” are the product, price, place, and promotion of a good or service. Each of the 4 variables influences and interacts with the others, as well as other internal and external factors impacting the business environment.
In practice, the 4 Ps are used to help identify critical data for business decision-makers. They help answer questions such as:
- What does a customer need from them?
- How does their product meet demand?
- How do customers view their products or services?
- How do they stand out from competitors?
The first of the 4 Ps is “Product”. Product refers to the good(s) or service(s) that a company offers its customers. Ideally, said goods and services meet an existing need or demand consumers already have.
As a roofer or contractor, your products are the various goods and services you offer to your customers, including:
- Roof repairs
- Roof replacements
- Gutter cleaning
- Siding and exterior services
The product you offer your community as a roofer also dictates what you should charge, where you should place it, and how you should promote it.
Price is the dollar amount that a customer pays for a product. When deciding how to price the goods and services your company offers, you must first consider the actual value of the product, along with the value in a customer’s mind. Next, you need to factor in things like supply cost, labor cost, your competition, time of year, and anything else that may impact your unique situation.
Discounts are also important to consider in price. Discounts can be helpful in attracting new customers, but offering too many discounts can cheapen your product’s worth in a customer’s mind. It is an extremely fine line. Only running promotions for a limited period of time annually or bi-annually is usually a good way to offer a discount without hurting your perceived value.
Place relates to where you sell your product and how you want to deliver your product to the market. When considering your “place” you must think about the clients you are trying to attract. If you are trying to appeal to luxury homeowners, you’re going to need to place your roofing company in a very different location than if you were looking to appeal to first-time homebuyers or landlords.
If you are trying to appeal to a wider range of clients, perhaps commercial and residential roofing clients, you need to consider where to place your company to reach and appeal to both.
In the digital age, the place also no longer just refers to a physical location, but also refers to your online identity. Your web pages, the social media channels you use, and where you choose to run digital ads all factor into place. Choosing places that appeal to the customers you are trying to target is crucial for success.
Promotion refers to your entire promotional (marketing) strategy and how you go about promoting your goods and services. Like the place, the promotion has changed a great deal over the past twenty or so years thanks to the internet.
In the past, roofers promoted their goods and services by door knocking, handing out fliers, and holding in-person events. Today, a large majority of promotion takes place online. This includes social media campaigns, social media engagement, paid ads, email campaigns, newsletters, SEO, and more.
How to Leverage the 4 Ps
The 4 Ps can be used at so many different junctures of your roofing company’s life. Whether you are considering a new service offering, revamping an existing offering, or just looking to increase your sales, the 4 Ps can help.
When using the 4 Ps it is important to remember that one does not exist in a vacuum without the others. They all need to work cohesively with each other and various other factors to support your roofing business.
If you’re intrigued by the 4 Ps, but don’t want to try them out on your own, that’s where marketing fanatics like the Summa team come in. Contact us today to learn more about the 4 Ps (or any other marketing theories you’d like) and we can work together on leveraging them in your business!