From 4Ps to 4Es of social media marketing

(image credit)

From

• Product
• Place
• Price
• Promotion

To

• Experience
• Everywhere
• Exchange
• Evangelism

Reference: The Reality of Social Media Marketing.

Chris Anderson, author of The Long Tail, writes about the e-democratization of producing, distributing and accessing content.  It's a world populated by intangible stuff, which is experienced, instead.  Social media, and the internet in general, are the platform on which that stuff can be put out and gotten to everywhere, anytime.  

I suppose the exchange is about sampling something, or even fully experiencing something, for free (that is the value).  With the agreement, in turn, that you as the recipient of that value can be advertised to (that is the cost, which is exchanged).  

Once you have volumes of such experiences and exchanges, anywhere and anytime, then evangelism speaks to what happens, I believe, when your stuff takes root online and goes viral.  Which is easier said than done, but obviously it can happen.