The Importance of An Effective Marketing Strategy
Unfortunately, most individuals believe that their company or business would register significant results simply by having a constant social media presence on popular platforms such as Facebook and Instagram. From experience, we know that a targeted multi-channel approach, and having the right mix between corporate communications and Marketing Communications has proven to be more successful in the long run.
Understanding the Key Difference between Corporate Communication and Marketing Communications
Simply put, Corporate Communication refers to the practice of developing, executing and managing communications with internal and external audiences. Any message a business delivers to its audience is considered a form of corporate communication. The goal of corporate communication is to formulate a company’s mission cohesively and to communicate that message with others. Its primary purpose remains to shape and maintain a company’s reputation through various methods, such as reputation, crisis communications, investor relations and public relations.
On the other hand, marketing communication refers to the communication strategy used to reach a company’s target markets. The clear, most prominent goal for marketing communications, is to sell and attempt to persuade prospective customers by building awareness, also through advertising. Secondly, marketing communication is also important for Customer Retention. An integral part of a company’s marketing communication strategy is to create and maintain customers.
Giving your audience what they want
Traditionally, before certain digital tools and platforms were present, the aspect of marketing research was much more relevant. In any communications strategy, it is imperative that a company’s content and narrative resonate with the target audience’s wants and needs, and is relative to what they require.
Although the concept of Traditional Market Research is still relevant, especially in complex industries and public opinion, digital tools have been equipped with monitoring solutions, which allow the content being published to be evaluated for results and performance.
With such monitoring tools, we are now able to provide more accurate insights, and concepts such as A/B testing have become more popular. With A/B testing, it is now easier to test different forms of content and narrative across target audiences and use content which registers more results.
Planning Advertising Spend
A plan without target results is not effective.
Advertising spend should always have a key indicator or target revenue to maximise Return on Investment. It is imperative that results from marketing efforts are calculated and that results are measured using pre-established Key Performance Indicators (KPIs) to make sure that any marketing spend being utilised is performing well. The strategy should constantly be refined to reflect consumer trends and behaviours, which are constantly evolving.
Using Social Media as a Tool to gain further recognition
Through experience, we believe that social media should not be the sole platform used in marketing strategies. However, with the popularity of such platforms, a planned social media strategy must be present for any business.
An effective social media strategy should incorporate both corporate communication elements and marketing elements to be able to effectively shape the company’s brand image and reputation.
Ultimately, especially about content regarded as marketing communications, social media content should always incorporate clear messaging and narrative, and call to action.
Having a proper Website and a robust SEO Strategy
With the emergence of social media platforms, some mistakenly believe that websites are not as relevant as before when the internet was at its inception.
Websites are still very important as a means of showcasing your portfolio, providing information about the company’s services and products, providing insights and generating leads, whilst allowing the company to increase its digital footprint.
A good website is not as effective without a proper SEO Strategy, since users need to be able to find it. Thus, establishing good and effective SEO is imperative to make sure that your website is visible to prospective clients. The SEO Strategy should always incorporate On-Page and Off-Page SEO strategies to make sure that the website ranks well across different search engines.
Partner Collaboration remains an effective engagement strategy for a company or business to attract new clients. Such partner collaborations would be beneficial with other non-competing businesses, to be able to generate new leads, and target customers who are already engaged to another business.
At Velvet, we are eager to assist companies in shaping their marketing strategy. Contact us today for a free consultation, so that we can identify ways how to develop or improve your current marketing strategy.