The importance of Marketing Communications!
Marketing Communications are vital for any business and its operational efficiency.
Today, it is the formation of IMC (Integrated Marketing Communications) which is crucial to any organisation. It is a simple concept which ensures that all forms of communications and messages are carefully linked together whilst ensuring the efforts of every stakeholder are aligned to the changing requirements within any market place.
IMC solidifies communications around customers and helps them move through the various stages of the buying process.
The organisation simultaneously consolidates its image, develops a dialogue and nurtures its relationship with customers. At its most basic level, a unified message has more impact than a disjointed myriad of messages. Un-integrated communications present disjointed messages to customers which in turn dilutes the overall impact of the message. Additionally, this could cause confusion, frustration and arouse anxiety in customers. So overall, it is sensible to adopt integrated communications which present a reassuring sense of order.
As a subset to the marketing mix, the promotional mix describes a blend of promotional variables to help any business reach its goals, there are five key areas:
- Sales Promotions
- Personal Selling
- Public Relations
- Direct Marketing
All of these marketing activities require large investments from businesses and command the majority of marketing budgets so it is imperative that each activity is measured to analyse the effectiveness and ROI (Return of Investment) that is generated.
What are the benefits of IMC?
- Creates competitive advantage.
- Cross functional approach to communications.
- Improved communication with customers.
- Boosts profits through increased effectiveness.
- Improves sales by stretching messages across several communication channels.
- Saves money by eliminating duplication.
- Enhances credibility through consistent messages.
- Reduces fees by using a single agency for all communications.
- Saves time in relation to briefings, creative sessions, tactical or strategic planning.
- Reduction in workload and subsequent stress levels.
- Applies careful use of strategic segmentation.
- Integrates many online and offline marketing channels.
What are the drawbacks of IMC?
- Internal conflict between managers, departments and the organisation as a whole.
- The process can restrict creativity.
- All ideas are to fit into the overall marketing communications strategy.
- Internal coordination between all departments can put a strain on budgets and resource.
- Advertising designed to nurture the brand over the longer term may conflict with short term advertising or promotions.