You have a business, a service, and a product to sell. The strategy defines whether you stay in the black or the red. And your Marketing Communication Strategy is a key component in this success or lack thereof. Effective Marketing Communication Strategy However, those companies make Effective Marketing Communication Strategies, differentiates themselves from the competitors, as well as an Effective Marketing Communication Strategy is also serve as a means of establishing meaningful connections with prospects and customers.
Marketing Communication Strategy:
1. Brand your way to success:
In the market, you can either become a commodity or a brand. In being a commodity, the risks are lower, perhaps larger volumes can be achieved on thin margins but the market will be crowded.
There will not be an identity for your product. Such unbranded products are visible across consumer, industrial and consumable goods. For eg. when choosing a paint for exterior the consumer has the freedom to go for a branded product such as Berger or for an unbranded commodity.
2. Communicate benefits and services to your customers:
Ever have a product you just know will be a hit? You’ve seen people looking for answers. You’ve collected data from real people trying to solve this problem. You’ve gotten the OK from several people who promise if your business existed, they’d use it.
3. Keeping up with the customers:
Repeat customers are the best. These are people who understand the value of your business. They’ve bought your product, and continue to buy your product. They don’t need convincing. They’ve been through your sales funnel. They trust your brand, your opinions, and believe in your product.
You have to create outreach marketing programs to get their attention. Then convince them to buy your product through various methods – ads, promotions, surveys, contests. It takes money. It takes time. More than you spend on existing customers.
4. Create new relationships throughout all processes:
I’ve mentioned customers plenty of times already. Yes, you want to build and maintain the bridge of relationships with them. It’s easier to see them as a friend than an obstacle, don’t you think?
But you also need to create relationships with suppliers. And for them, you have to communicate effectively. The last thing you need is a shipment coming late or worse not at all when you’ve got customers hungry for your business.
The purpose of advertising is to create awareness of your brand or product among consumers and prospective buyers. It creates a desire for the product among consumers through appropriate messages such as health, added convenience, fashion, looks, utility and variety of other benefits. Advertising is an expensive aspect of brand promotion and proper media planning has to be done to get the intended benefits within the budget and time frame set for the campaigns.
Advertising promotion can be brand specific or company specific depending on the requirement at hand and it’s better to hire ad agencies to do the creatives after defining the requirements of the brand and the unique selling proposition (USP) of the brand.
Once the creative is approved, media planners are hired to book space in television, print, and broadcast media to run the campaigns. Here a proper planning with the agency will ensure that better return on investment (RoI) is achieved.
The advertisement requirement will vary according to the type, size, and scale of operations of a company. For a start-up, the objective would be to establish the identity. It may require a high degree of promotional support to attract the attention of consumers.
Blogging has emerged as a useful function in marketing communication strategy for an industry which is cost effective and may pay dividends in the long run while the growth may not be explosive.