Communication is the building block of humanity. Humans are social animals, and communication is typical of their innate characteristics. Ideas, emotions, feedback, or a simple reaction are all dependent on appropriate and timely communication. The importance and complexity of communication increase with the richness of the event. Flying a plane certainly requires more comprehensive communication than driving a car. Organizing a party demands less communication than managing a business.
Business is undoubtedly among the trickiest and most comprehensive endeavors humans have ever taken up. Significantly, the contemporary business environment has become ever so demanding. The customers have become more aware, markets more congested, and competition fiercer. In such a situation, communication plays an even more significant role in ensuring business success. Therefore, marketing has become a radically crucial function in modern corporate dynamics. According to Statista, businesses spent a whopping $586 billion only on marketing in 2020. Such a high amount is evident of the increasing importance of marketing communication.
Marketing has therefore traveled a long way in relatively less time. There are a plethora of modern-day marketing gimmicks. Integrated Marketing Communication (IMC) is among the most effective ones. It is a seamless and continuous effort to capture customers at all the possible touchpoints. Marketers reach customers through IMC by all media sources possible. If you have missed this efficient means of marketing, this article can help you. It highlights five integrated marketing communication tools for business success.
1. Direct Marketing
As the name suggests, it is the direct mode of approaching the customer. However, it requires a comprehensive and well-thought-out marketing strategy. Marketers should be well-versed in conveying the brand message accurately and tactfully. Online education has been helping marketers in devising effective communication strategies for quite some time now. The online strategic communications masters program has special consideration for integrated marketing communication strategy.
Direct marketing requires careful integration of different media like text messages, emails, brochures, and catalogs. It develops a direct communication channel between the company and the customer. Therefore, it is more convenient and cost-effective for both parties. The distraction-free communication corridor enables companies to convey the exact market offering as they plan to. It strengthens their customer relationship management and increases customer lifetime value. This has made the retail business use of AI essential in capturing, organizing, and use of data flowing into the business.
2. Advertising
We are all surrounded by advertisements. From prime time serials to watching a video on YouTube, there are ads everywhere. According to PPC Protect, an average person encounters about 6,000 to 10,000 ads in a week. It shows how huge the advertisement exposure has become for the marketing industry. It has undoubtedly revolutionized over time due to the inclusion of social media advertising and other contemporary modes. Still, it remains the most prominent marketing medium to date.
Advertising helps brands to reiterate their value proposition in the market. It keeps them relevant and active in the target audience. Therefore, it acts as a cornerstone for a brand’s competitive edge in the market. Moreover, mass advertising campaigns enable brands to approach a broad audience in less time. It expands their reach beyond borders and conveys the message. Advertising creates the necessary purchase motivation that propels the customer to buy the products and services.
3. Influencer Marketing
The high-rise internet has created internet celebrities. Currently, there are about 4.66 billion internet users in the world. Indeed, there would be some content creators to attract an audience toward it. Facebook, YouTube, Twitter, Instagram, and other social media platforms are replete with these content creators. They have a huge following and now have become essential influencers of public opinion. It produces another domain of marketing known as influencer marketing. To be an influencer on Twitter, You can buy legit Twitter followers.
These influencers act as the Key Opinion Leaders (KOL). People blindly trust them and take their recommendations seriously. Brands partner with them to attract customers through their endorsement. The ever-rising number of social media users has made influencer marketing a reliable and profitable communication source. According to Big Commerce, influencer marketing generates a return value of $18 on every $1 spent. Therefore, it’s no surprise that 9 out of 10 brands actively use influencer marketing to drive sales. Influencers like Seth Godin, Gary Vaynerchuk, Neil Patel, and Larry Kim have millions of followers and brand deals worth millions of dollars.
4. Sales Promotion
Everyone knows about the purchase surge after seeing a 50% discount banner on a store’s front. Sales promotions are an efficient integrated marketing tool. They attract potential customers and realize sales. In a survey by RetailMeNot Inc., 91% of shoppers reported that in-store sales promotions triggered their purchase decision. It also stands at 89% for online purchases. It shows how these promotions impact a customer’s purchase decision orientation. Sales promotions increase customer satisfaction and develop brand loyalty.
Sales promotions like coupons, membership cards, lucrative deals, and attractive incentives have long been a great source of marketing and sales. However, sales promotions generate sales hikes for a shorter span. To make it sustainable, brands need to capture customers with their qualitative market offering. Purchases in response to sales promotion essentially behave as the testing grounds for a brand’s value proposition. A brand must pass the test on quality and commitment to convert these new customers into long-term loyalists. Otherwise, it ends within just an initial impulse buying.
5. Sponsorships
Your brand might not have enough market muscle to engage thousands of audience. However, the donation drive organized by a local charity can certainly have some. So, you can sponsor their drive and have a share of the extensive public attention from their basket. Marketers have always preferred sponsorship marketing because of its public reach and psychological impact. Sponsorships are the main driving force behind many business and social activities.
Sponsoring a suitable event, celebrity, or television serial can communicate strong marketing messages to the audience. Moreover, it also creates a strong and positive brand image. It adds more value for the one sponsored and also who sponsors. The collective effect creates synergy and more value for both the stakeholders. Red Bull actively sponsors sports events. Therefore, it derives more sales from the vast sports audience. According to Visua, Red Bull enjoys a 63% higher market share than any other energy drink in the sports industry.
Final Thoughts
Communication without a proper strategy will never be fruitful. It always requires specific prerequisites to generate the desired results. Similarly, marketing communication without being integrated throughout the customer touchpoints is useless. It will never create prolific outcomes. Any business willing to realize market potential should actively consider the integrated marketing tools discussed above. They must choose the right tool as per their business dynamics.