Explore the different types of marketing communications and their objectives in this Viindoo blog. We will delve into traditional methods such as advertising and public relations and examine how digital marketing techniques such as social media and content marketing have transformed the way businesses promote their products and services.
What is marketing communications
Marketing communication (MarCom) is an essential and intricate aspect of a company's marketing promotion strategy. It encompasses all the means and channels utilized to communicate with the target market. MarCom involves advertising, direct marketing, branding, packaging, online presence, printed materials, public relations, sales presentations, sponsorships, trade shows, and numerous other components.
Due to its intricacy, MarCom cannot be fully covered in a single article. Therefore, this article is part of a series of six articles that aim to provide an in-depth understanding of the field of marketing communication.
What is communication in marketing?
Objectives of marketing communication
Marketing communication serves two purposes: creating and sustaining demand for the product and shortening the sales cycle.
Establishing preference for your product or company is a process that requires a long-term effort using communication tools. The aim is to position your product or company in the minds of the target customers.
Creating a brand positioning statement and positioning it requires consistency not only in the communication efforts but also in the core elements of product, pricing, and distribution. This is a significant commitment for the company that takes time to build.
It is essential to remember that building a brand and establishing preference impacts market share, profitability, and even access to talent. Therefore, it provides long-term value for the company.
Shortening the sales cycle
To shorten the sales cycle, it is crucial to assist sales and channel partners in identifying, engaging, and delivering customers. Understanding the customer's buying process is essential in gaining insight into how the sales cycle can be shortened.
The buying process for a product is illustrated in the figure below. Through market research and conversations with sales personnel, MarCom staff can identify ways to speed up the process.
In the case of high-tech products, the sales cycle involves a significant amount of customer education in the early stages. Therefore, MarCom must focus on creating, packaging, and delivering relevant information to the buyer throughout the buying process to meet this educational need
Shortening the sales cycle
Typically, the communication techniques utilized to shorten the sales cycle are more tactical than those used in building a brand. However, to achieve both MarCom objectives, a balanced strategy is necessary. Prioritizing one objective over the other may question the legitimacy of the plan. Thus, close collaboration with sales and customer-facing channel partners is necessary to strike the right balance.
Types of Marketing Communications
MarCom encompasses various methods of reaching customers. We have compiled a list of the most commonly used types of MarCom that businesses utilize to capture the attention of their target audience.
- Digital marketing involves utilizing the internet to promote products, connect with customers, and encourage them to purchase. Various channels, such as email marketing, social media, messengers, web push notifications, etc, can be used to reach prospects and customers. Creating desktop and mobile versions of your website is crucial to ensuring users feel comfortable using your service.
>>>> See more: What is promotion marketing? Guidance to start with it effectively
- Public relations is often considered one of the most effective and credible approaches to MarCom. This is because information about a brand or product comes from a third party that genuinely recommends a specific company or discourages people from buying its products. The content parties disseminate about a company is not controlled by business owners. PR is most effective for brands that offer excellent products, consistent user experience, and smooth customer support. These factors positively influence brand reputation.
>>>> See more: What is Public Relations: Definition, Types, Guide and Examples
- Advertising is a costly yet effective approach to MarCom. Entrepreneurs often spend millions of dollars to promote their products through various channels such as TV, radio, social media, YouTube, and more. They either seek assistance from advertising agencies or develop ads themselves to attract a wide audience and encourage prospects to purchase. Despite the high cost, running ads on various marketing software platforms can provide companies with a high ROI that exceeds expenses.
- Social media is an increasingly popular approach to MarCom, with 71% of small and mid-sized startups considering social media platforms to promote their goods, according to Asset Digital Communications. With 4.48 billion people worldwide using social media, it's a channel that offers the potential to reach a vast international audience at a relatively low cost. There are various channels available to market products on social media, including Facebook, Instagram, YouTube, placing ads on sites and blogs, and engaging influencers for promotion.
- Customer recommendations are a powerful tool in MarCom, as satisfied customers can become brand promoters for free. Word-of-mouth marketing is particularly effective because people generally trust recommendations from those they know. To encourage more satisfied clients to promote your brand, you can develop referral programs, provide discounts and special offers, and invite them to join a loyalty program. By doing so, you can build trust, credibility, and awareness, all of which can lead to increased sales and brand recognition.
- Direct marketing is a targeted form of communication where companies create customized content and messages for specific customers. By understanding their customers' needs and preferences, brands can send personalized offers such as discounts, coupons, and special deals that are likely to resonate with their target audience.
- Sales promotion is an effective way to engage customers and encourage them to purchase a brand's products or services. Customers are often opt-in to receive updates on news about the brand, including sales, discounts, coupons, loyalty programs, referral programs, and free delivery. This approach is especially useful for new companies trying to increase product sales and attract more customers. However, even established companies can benefit from sales promotion by using it to sell old collections and make room for new products.
Types of marketing communication
Marketing communication (MarCom) is the process of communicating with the target audience to create and sustain demand for the product and shorten the sales cycle. The objectives are creating preference and shortening the sales cycle. MarCom encompasses various methods of reaching customers such as digital marketing, public relations, advertising, social media, customer recommendations, direct marketing, and sales promotion. Each type of MarCom serves a unique purpose in reaching and engaging with the target audience.
Congratulations, you now know all of the important facts about marketing communications. Viindoo hope our guide will be useful to you as you develop an effective strategy for your company.