Not all businesses need marketing communications, but many do and don’t realize it! Marketing communications is not just advertising or public relations, though these are both parts of the marketing communications process. Instead, marketing communications is the activity that helps to inform your potential customers about your business and sell them the benefits of your products or services. In this article, we’ll break down what marketing communications means, why your business needs it, and how you can use it to increase sales and grow revenue.
Understanding the Industry
So what exactly is marketing communications, and why does your business need it? The answer to that question largely depends on your company’s goals. For example, if you want to grow your customer base in new or existing markets, then a strong marketing communications strategy will be an essential tool for doing so. If you need to ensure that your customers remain loyal to your product or brand, communication is key again. And if you have a new product that needs promoting, well you get it.
How it helps business
Marketing Communications help a business reach new potential customers or help current customers better understand their product or service. The goal of marketing communications is to increase customer awareness of your business and engage existing ones. By increasing customer engagement, you can improve customer retention, which ultimately leads to greater customer lifetime value for your business. When you have a strong understanding of how marketing communications can benefit your business, it’s time to develop an actionable plan. Here are a few steps on how to build out your own communications strategy.
How much does it cost to start your marketing communications plan?
There are a few ways to determine how much your marketing communications plan will cost. You can either hire an agency, which can range from $5,000 to $100,000 depending on the size of your business and level of commitment to a single agency. Another way is to contact individual freelancers that specialize in specific services within marketing communications. For example, you could hire a copywriter for approximately $35 per hour or pay someone to conduct an online survey for around $150.
Who needs it
Everyone! All businesses, big or small, have a story to tell. A business that’s well versed in marketing communications can tell its story in myriad ways from website copy to social media posts to promotional products. An effective marketing communications strategy helps companies understand how to reach their target audience (or audiences) via multiple channels. Marketing communication professionals help businesses refine their message, then determine how best to present it (and when).
The components of an effective marketing communications plan
In any business, marketing communications defines how you position your brand over your competitors. A good marketing communications plan will help you achieve your company goals, whether that’s developing brand loyalty or increasing sales. The following are some of the most important components of an effective marketing communications plan.
Some additional questions you should ask yourself before getting started
Do you have a potential market or niche audience? If so, how big is it? How will your business stand out among its competitors? Do you have access to clients/customers that fit the demographic or requirements of your product/service (without spending too much money)? Is there a problem in need of solving that many people in your target audience face daily? What do you plan to say to engage with readers, customers, or viewers more effectively than anyone else before has managed to do so?