Businesses may have excellent products groomed by a supremely talented management team. Ultimately, their success hinges on persuading a large number of customers to select that company’s products or services over its competitors. Marketing communications and corporate communications play an important role in developing and maintaining an organisation’s identity and reputation to ultimately enhance the brand value, which in turn culminate into sustainable sales growth.
“Integrated marketing communications is a way of looking at the whole marketing process from the viewpoint of the customer.” – Philip Kotler.
What is marketing communication?
Marketing communication refers to the means adopted by companies to convey messages about their brand, products & services, directly or indirectly with intention of influencing customer’s buying decisions. This comprises advertising, sales promotion, event sponsorships, interactive marketing, online marketing, direct marketing etc.
Why is marketing communication important for businesses?
With changing times, there has been a paradigm shift in the dynamics of business management. Marketing communication has acquired center stage mainly because unlike in the past, there’s increased growth in customer awareness and there’s intense competition which readily influences customer’s buying decisions. Naturally, businesses need to strategically communicate with their customers to achieve brand awareness, affinity, loyalty and eventually advocacy. That is why, marketing communication is essential for the growth of any business across industries and irrespective of its size.
In recent years, the requirement for marketing communication services in Mumbai or marketing communications services in Pune or any other major city for that matter in India has seen a tremendous surge in customer awareness due to online product / service searches and social media influence mainly YouTube, which has become one of the most emerging product and service information platforms influenced by major influencers / vloggers. Hence the biggest challenge is how to establish a brand presence and business growth among customer mind space? Therefore, marketing communications can immensely help organisations to achieve their goals by the following ways.
Developing Strategic Vision.
The marketing communication or commonly known a MARCOM department within structured organisations are majorly entrusted with the responsibility of growing the company’s revenue. To execute this function, a strategic vision is developed by the corporate communications team. Strategic vision entails on the lookout for new business opportunities and devising plans to seize them. For instance, the company can monitor emerging markets to identify the best prospects it could supply its products and services to. Then contemplate appropriate ways of selling the products and services in order to accelerate its growth.
Creating Brand Awareness.
A brand in mind is a brand in hand! This marketing verse is as real as the existence of the brand itself. Consumers need to know the brand’s existence and what it is selling. This is never a one-off activity and rather a prolonged exercise to reach mass audiences for as many times as possible. Corporate communications can formulate effective advertising and promotional campaigns to compel the customer into buying your products and services. This brand communication is planned around the demographic groups that are most likely to become customers, and then marketing expenditures are initiated across media channels to serve these groups.
Cultivate Competitive Advantage.
Marketing and communication strategies establish the brand positioning in a manner that claims its value proposition, features – advantages – benefits and superiority over competitors. The messaging primarily focuses on 3 key points, viz., the benefits of the product/service, how it can solve the customer’s problems, or meet the customer’s need. This is often established by highlighting the advantages and value propositions of the respective products and services and expressing a technological edge over competition.
Leverage Promotional Activities.
Corporate communication along with marketing communication strategies prove highly advantageous to propagate the company’s CSR (corporate social responsibility) activities. Publicizing the CSR programs (charitable activities) is aimed at building the organisation’s brand image as a good corporate citizen. The marketing team scouts regional, cultural, or national events where the company can participate to generate good publicity. Sponsorship deals are negotiated by the marketing communication teams to strike a reasonable deal for the company. Sports events, cultural festivals, etc., provide national and international exposure to the brand.
Talent Acquisition.
Companies are always in need of professional talent to enhance marketing and sales initiatives. Corporate Communication along with marketing communication strategies creates positive brand rub off to potential candidates as to how the company can be a great place for nurturing their talent and provide them a flourishing career. Digital properties like website, social media profiles, job portals, etc., are utilised to spread the Word – Of – Mouth. There are business publications that honour ‘The Best Companies to Work For’ through annual awards. The corporate communications’ along with good marketing communications role is to make sure the company is under consideration when it comes to customers, professionals and finally the society within which it prevails.
Attracting Investors.
As part of the corporate communication and marketing communication exercise it is imperative that credible news is released and marketed across channels from time to time about the achievements by the company, sales or profit growth, and other industry milestone accomplishments such as mergers, acquisitions, tie up’s etc. It not only creates general brand awareness but also attracts the attention of the investment community. Eventually, it results in an increase in the company’s stock price (if it is a public company) or makes it easier for potential equity partners to approach the company (if the company is private).
Key Takeaways:
- Marketing communication in this digital age is the biggest enabler of brand image and brand perception which enhances the possibility of retaining the brand loyalty among its customers by targeting segmented customer groups.
- Effective marketing communication strategies enables in sales growth and empowers businesses to always determine measurable ROIs for every marketing dollar spend.
- Finally, effective marketing communication is no longer an option or privilege for a select few, but a necessity for survival and a key to have a sustainable business growth for both in the short and long-term.
Growing a business comes down to the ability to sell. Innovative strategies, a comprehensive understanding of consumer behaviour and aggressive marketing communication and corporate communication can be a good combination to bring about sales growth and gain overall short and long-term success.
