Marketing communication, also referred to as “marcom”, includes a variety of elements such as advertising, public relations, online presence, branding, packaging, sales, sponsorships among many more. It is an essential part of a company’s marketing strategy and is the way in which a company communicates a message about their service or product that they are trying to sell. The goal is to increase revenue. Marketing communicating incorporates the many ways in which a company presents their information to their audience. Read on to discover more about marketing communication and what it involves!
Why is marketing communication important?
Marketing communication is an integral part of any business for many reasons. There are several reasons why it is important to have a great marcom strategy.
Marketing communication allows companies to reach the right audience. Whether it is a teenage magazine to a huge outdoor billboard, it is essential to discover the right mediums of marketing to target the correct audience. To get this crucial information, it is important for companies to carry out market research.
Sales, sales, sales! The goal of any marketing campaign is to increase sales and revenue!
If a strong marketing communication is put in place, then this will lead to a strong brand identity. Let the customers know exactly what the company is about. It is important for them to know who they are purchasing from and what kind of message they are portraying to the world.
There is a lot of competition out there. A successful marketing campaign will increase a company’s visibility and give them a strong competitive edge.
At the end of the day the idea is to make money. Attracting new customers will lead to more revenue.
What are the primary goals of marketing communication?
Communication is mandatory for individuals and companies alike. Corporate communication is a worthy investment for any developing firm in the near future? Discover the three main goals of marketing communication:
Share the message of a brand, get it out there to be seen by the masses.
Compete within the market. Brands need to stand out from their competition. It can help develop brand loyalty.
Persuade the customer to invest in a product or service. Marketing communication should be direct and convincing.
What are the different types of marketing communication?
Discover some of the different elements of marketing communication that are used by companies to create effective and successful results.
Advertising
Advertising is one of the most common yet more expensive marketing communication tools to be used but it also can be one of the most effective. It is used to promote a company activity through advertisements. It’s an indirect, paid tool that is used to inform a company’s audience about their products or services via a host of outlets including television, radio print, digital media, online websites, and outdoor billboards. The main advantage of advertising is that the message is guaranteed to be seen by a large audience. If a company places a huge billboard advertisement in the middle of a city, then it is guaranteed to be seen by thousands of people every day. It is a great way to create buzz and excitement around a certain product or service.
Public Relations
PR or Public Relations is the art and science of making people or organizations look good. Companies will employ PR specialists to handle the image of the brand which means how it will be revealed to the public via marketing communications. The goal of PR is to control and enhance a positive reputation and strategic leadership in brand communication. They do this through a variety of ways including press releases, PR campaigns, events and many more. If a brand does not have an in-house PR team, this can be easily outsourced for a specific project or for ongoing general needs and wants within a company. PR companies can be paid on a monthly retainer to execute marketing communication strategies.
Events and Experiences
Another effective form of marketing communication is events and experiences. Companies can sponsor events so that their company’s name can be splashed all over it, making it seen and heard by the audience attending. For example, during large sports events such as Roland Garros or Wimbledon you can see advertisements for brands such as Cartier and Lacoste everywhere. Another example would be football teams. Football kits and jerseys are sponsored by sports industry leaders such as Nike and Adidas, but also by anything from the social media platform TikTok to fast food restaurants and alcoholic beverages. It is not only a brilliant way to be seen at big events but if the public sees their favorite athlete advertising a particular company they may just want to invest as well.
Sales
Sales are an effective tool used in marketing communication. Sale promotions can be used in the short term to persuade customers to purchase products, goods, or services. This marketing communication technique helps attract new customers but also creates loyalty by retaining previous customers. Discounts and buy-one-get-free schemes are just a few techniques used to promote sales and initiate quick purchases.
Direct Marketing
Direct marketing is exactly how it sounds. No middleman. Companies connect directly with their target audience by using phone calls, emails, letters, and text messages. Although traditional methods, they are still used to today and can be extremely effective when targeting the correct market.
Interactive marketing
Interactive marketing is a relatively new marketing communication technique but an extremely popular and successful one. This type of online marketing is used to promote sales and strengthen brand reputation. Companies can educate their customers by getting them involved via games, quizzes, and polls. Customers can also interact directly with companies to resolve any issues or queries they may have about a product.
Word-of-mouth
Word-of-mouth is one of the most common types of marketing communication. This means the method of communication is face-to-face. Customers share their opinion and experience on a particular product with a friend or peer. It is a crucial method for companies and the only control they have over this style of marketing communication is by making sure their product is flawless and worth talking about. The image and reputation of any brand can rely heavily on word-of-mouth.
Social Media
Social media is also a very recent form of marketing communication that some companies are still trying to get a hold of. If targeting a younger audience, then this method can be very effective. Social media can be used to transfer a message fast and to an enormous audience. Brands must be extremely careful in this case to make sure they know exactly what is being said and how. The advantage of social media is that it is usually cost free. Brands can also receive crucial feedback in comment sections which can help them to determine whether a product or service is working or not.
Sponsorship marketing
This type of marketing communication can be found almost anywhere. It is a strategy where one business promotes something that is led by another business. It can involve financial contribution or advertising and usually includes mutual benefits for both businesses. The purpose is to increase brand awareness, gain customer trust and create positive publicity.