For any business to maintain long-term success, it is essential to have a modern Marketing Communications system in place. This is because digital marketing is ever-evolving and if any business wants to stand a chance against the fierce competition, it is through MarCom.
There are different components of MarCom such as mediums and type of messaging (promotional or informational). These components depend on the type of business and the target audience.
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Marketing Communications (MarCom): What Is It?
Marketing Communications or MarCom consists of the mediums and processes involved in promoting a brand or its products/services. This can include anything like sales promotions, public relations and events.
For many businesses, MarCom is at the front and centre of their marketing strategy. This is because the right communication can kick-start the success of any business. In 2023, digital marketing has never been more competitive.
Here are a few examples of MarCom that any business can employ for the success of their brand.
Types of MarCom
Gone are the days of print advertisements, we are living in the reign of digital media. 21st century Marcom is marked by Immersive Technologies like AR and VR. The use of these technologies is proving to be a force to be reckoned with in the world of marketing.
There are a few different types of MarCom approaches. It is best to understand one’s audience before deciding on an approach. Whether that’s social media marketing or billboard advertising, it all narrows down to who a business wishes to target.
Here are some of the most popular examples of MarCom approaches.
This type of MarCom requires no introduction. It is the most popular type of MarCom and almost every business uses it. It is important to note that this type of MarCom includes the use of communication strategies like SEO.
Another digital marketing strategy is that of email marketing. This can help businesses to communicate with subscribers ahead of product launches or upcoming sales. As a MarCom approach, this works the best for most online businesses.
Public Relations (PR)
As a MarCom type, PR is highly effective. From press releases to conferences, this is another common marketing approach. As a communication form, this works incredibly for businesses.
PR is great for informing the audience about a business’s future goals. It is an excellent communication approach that helps business owners/stakeholders engage with their target audience.
Advertisements are an indisputable winner in the race to sales success. Some examples of advertisements would be through radio, newspapers and billboards. Although traditional MarTech has lost much of its significance, it is still used by some businesses to communicate with the audience.
This MarCom approach is a great way for businesses to boost brand visibility and to inform customers about their vision. Advertisements have helped businesses grow and establish a strong presence.
The Benefits of MarCom
There are numerous benefits to employing an effective MarCom Strategy. It benefits small and large businesses alike. This element of marketing has one primary objective and that is to effectively convey the brand’s vision to the target audience.
By doing so, it benefits a business in numerous ways. This can help new businesses build a clientele and earn loyal customers. The trick is to employ only the best MarCom mediums, as suited to your business’s objectives and the target audience.
Builds Customer Relationships
MarCom can help businesses build strong customer relationships. For example, newsletter subscriptions allow businesses to keep in touch with their customers. This can contribute to building long-lasting relationships with clients.
An example of a MarCom strategy that helps build customer relationships is that of experiential events. This helps marketers and business owners to
Generates a higher ROI
The ultimate aim of most businesses is to have a high ROI. To achieve this, people make use of MarCom tools like social media to promote their products and services. This can generate a lot of revenue, if done correctly.
PPC marketing is an excellent way to increase the ROI for any business. It is cost-effective and it achieves multiple objectives. This type of marketing makes the brand more visible, drives web traffic and increases sales success. MarCom is here to change the business game for good.
Traditional MarCom: Still Relevant?
Highway billboards are still used by big businesses around the world. But they are not nearly as effective as a social media campaign. In the coming years, it is expected that traditional marcom will be replaced by more modern alternatives.
Traditional MarCom strategies have helped businesses establish strong identities for decades and in some way, they will continue on doing so. However, these efforts will be supplemented by Digital MarCom.
In terms of popularity, digital marketing wins by a mile.
Digital MarCom in 2023
In 2023, MarCom will be marked by a digital transformation. There will be an increased reliance on technology. The onset of Metaverse represents what the future holds for MarCom. As marketers experiment with newer and more innovative digital mediums, the future seems exciting for businesses.
As this year advances, MarCom is becoming more and more innovative. This works in the favor of businesses who wish to make a name for themselves in the increasingly competitive game of digital marketing.
Featured Image: Aurora Online