Definition of Marketing Communication
Marketing Communication can be defined as the methodologies and tactics adopted by the companies to convey the messages in a unique and creative manner to their existing and prospective customers about their offerings of products and services. The messaging communication is either direct or indirect in nature with an intention to persuade the customers to indulge in the purchase of the products and services.
The various channels and platforms of marketing communication include Google promotions, print advertisements, television commercials, social media marketing, PR exercises, blogging, content marketing, and participation in trade fairs and exhibitions amongst others.
Importance of Marketing Communication :
1) Develop a strategic vision
The first point in the list of Importance of Marketing Communication is that it helps the management of the company and marketing managers develop a strategic vision about leveraging on the various marketing opportunities and platforms and device the plans that make the company come up with the new and innovative methods to promote the offerings to the customers.
It makes the company curate a distinctive identity in the market and in the minds of the customers as the brand that craves out the marketing and promotional ways that are not only strategic in nature but have an edge in the ways to communicate about the features and attributes of the products and services.
2) Create brand awareness
The concept of branding is totally related to the promoting the objectives and vision of the brand and company as a whole but understating the Importance of Marketing Communication helps in the creating and providing the required impetus to the brand awareness in an indirect manner as the strategy and the creative artworks of the marketing communication starts with leveraging on the strong legacy of the brand followed by the features and unique selling propositions of the products and services.
3) Expresses competitive advantage
There are way too many brands in the market offering the similar line of products and services giving the customers quite many options and alternatives to pick and choose from and many a time the customers go for the products and services offered by the competitors.
Hence, understanding the Importance of Marketing Communication helps the company to promote its offerings in a unique and innovative manner by selecting various marketing and media channels such as print advertisements, television commercials, radio spots, digital marketing, interactive marketing, and PR amongst others that enables to showcase the features and nature of the offerings in a positive light giving a tough competition to the arch-rivals of the company and it works as a pull factor for the customers.
4) Fosters goodwill
Next in the queue of the Importance of Marketing Communication is that it helps the company to foster the goodwill in the market as when the communication strategy is on a consistent and continuous basis, the facet of trust gets ingrained in the minds of the existing and prospective customers as they are steadily witnessing the communication and messages from the company and its offerings and gives them a perspective that the company is genuine and authentic in its offerings.
Another aspect to this point is that the marketing communication also involves participating in various activities related to the corporate social responsibilities and in the benefit of the society that helps the company to command the goodwill from its patrons and stakeholders.
5) Attracts talent
The genuine and innovative marketing communication and messaging strategy not only attracts the new set of customers but also attracts the talent for the company that is willing to get associated with the company as employees, vendors, investors, agencies, and other business associates that helps the company to grow from strength to strength and attain its aims and objectives in the highly successful manner.
6) Enlightens the investor community
In continuation to the above point and harping on the Importance of Marketing Communication, yet another benefit to the company is that it enlightens the investor community about the strengths, core values, fundamentals, vision, approach, and objectives of the company along with its competitive advantages, unique selling propositions, and the features and attributes of the products and services offered to the target market.
And once the investors are impressed and satisfied with the values and objectives of the company they are ready to invest in the company and that helps the management to achieve their financial goals that will further provide the impetus to the business operations and result in the higher sales and elevated profits.
7) Boosts profits
As the thumb rule of business strategy states that the marketing and sales departments work as the backbone of each other and when they both join forces, the profits of the company are on an all-time high owing to the increased sales and market share as compared to the competitors in the market as the marketing communication is strategic, innovative, and creative in nature plus is well aligned with the overall business objectives of the company.
8) Improved communication with the customers
In order to attract the new set of customers and retain the existing ones on a long-term basis, it is important for the marketing communication to be transparent, consistent, crisp, direct, and helps to solve the problems of the customers.
And when the management of company and marketing department duly understands and grasps the Importance of Marketing Communication, there is an automatic improvement in the communication with the customers and their level of trust in the brand, its offerings, and the overall company is increased in manifolds with the company able to accomplish its desired goals and objectives as well.
9) Come up with innovative marketing and promotional ideas
Understanding the Importance of Marketing Communication helps the management and the marketing department to try and come up with the innovative marketing and promotional ideas that do not only convey the brand messages in an inventive fashion but also gives the brand an edge of creativity as compared to their competitors in the market.
It is also imperative for the company to do a continuous research on what are the latest marketing trends in the market and be open to trying out new and novel ideas for the promotion of products and services.
The above were all the reasons which explain the Importance of Marketing Communications.