What is Marketing Communication (MarCom) | MaRS

What is Marketing Communication (MarCom) | MaRS

According to MaRS, marketing communication (MarCom) encompasses all the messages and media used by a company to communicate with the market, including advertising, branding, online presence, and PR activities.

Three distinct quotes from the text:

  1. "Loosely defined, MarCom can be described as all the messages and media you deploy to communicate with the market."
  2. "Marketing communication has two objectives. One is to create and sustain demand and preference for the product. The other is to shorten the sales cycle."
  3. "In general, the communication techniques employed to shorten the sales cycle are by nature more tactical than those used in building a brand."

Five-sentence summary: Marketing communication (MarCom) is an essential component of a company's marketing strategy, involving various messages and media to communicate with the market. It includes advertising, direct marketing, branding, packaging, online presence, printed materials, PR activities, sales presentations, sponsorships, and trade show appearances. MarCom has two primary objectives: creating and sustaining demand and preference for a product, and shortening the sales cycle. Creating preference is a long-term effort that involves using communication tools to position the product or company in the minds of the target customers. Shortening the sales cycle involves assisting sales and channel partners in identifying, engaging, and delivering to customers efficiently.

Top 5 takeaways:

  1. Marketing communication is a multifaceted approach that includes various channels such as advertising, branding, online presence, and PR activities.
  2. The two main objectives of marketing communication are to create and sustain product demand and preference, and to shorten the sales cycle.
  3. Creating preference is a long-term strategy that involves consistent communication efforts to position the product or company in the customer's mind.
  4. Shortening the sales cycle is more tactical and involves supporting sales and channel partners in efficiently identifying and engaging customers.
  5. A balanced strategy is essential in achieving the objectives of marketing communication, requiring close collaboration with sales and customer-facing channel partners.

Five Tweets about this:

  1. 📢 Discover the power of Marketing Communication (MarCom)! It's all about using messages and media to connect with your market. 🚀 #MarCom #MarketingStrategy
  2. 🎯 MarCom has two main goals: Building product demand and preference, and making the sales cycle snappier! 🛒 #MarketingGoals #SalesCycle
  3. 🧠 Building a brand takes time and consistency. MarCom helps in positioning your product or company in the minds of your target audience. 🎨 #Branding #MarCom
  4. ⏱️ Want to speed up your sales? MarCom employs tactical communication techniques to shorten the sales cycle. 📈 #SalesBoost #MarketingTactics
  5. ⚖️ Balance is key! Your MarCom strategy should strike a balance between building brand preference and shortening the sales cycle. 🤝 #MarketingBalance #MarComStrategy

Expanding on MarCom

Marketing Communication (MarCom) is a fundamental and complex part of a company's marketing efforts. It refers to the different kinds of promotional activities and strategies a company uses to reach its target audience, convey its message, and establish a strong relationship with customers. The goal is to convey clear, consistent, and compelling messages that resonate with the audience and drive them to take a desired action, such as purchasing a product, signing up for a service, or engaging with the brand in other ways.

MarCom includes various channels and techniques, such as:

  1. Advertising: This can be done through traditional media like television, radio, and print, or via digital channels like social media, email, search engine marketing, and online advertising.
  2. Public Relations (PR): PR activities include managing the spread of information between an organization and the public. It could involve creating press releases, organizing events, and dealing with the media.
  3. Direct Marketing: This involves sending promotional messages directly to the customer, for example via email, mail, or telemarketing.
  4. Sales Promotion: These are short-term strategies designed to incentivize a customer to make a purchase, such as discounts, coupons, or buy one get one free offers.
  5. Personal Selling: This involves one-on-one communication between the salesperson and the potential customer, either in person or via phone.
  6. Social Media Marketing: This involves using social media platforms to reach audiences, engage with followers, and promote products or services.
  7. Content Marketing: This involves creating and sharing valuable content (like blog posts, videos, infographics) to attract and engage a target audience.
  8. Event Marketing: This includes promoting a product, service, or brand name by holding or participating in events.
  9. Sponsorship: Businesses may sponsor relevant events, teams, or individuals to improve their visibility and reputation.

A key to effective MarCom is an integrated approach, meaning that all promotional tools are harmonized to create a consistent brand image and message. This integrated marketing communications (IMC) strategy ensures all communications are cohesive, which can enhance their overall impact and effectiveness.

Ideas for Marketing Communications in 2024

Ok, thanks for the setup, but how do you take action on MarComm ideas in 2024?

Marketing communications (MarComm) in 2024 continue to evolve rapidly, obviously. The big one is AI, AI, AI, AI.

But also, to button up a few trends: leveraging technology, data analytics, and creative storytelling to engage audiences more effectively.

Here are some examples of MarComm trends and applications that have gained prominence:

  1. AI-Powered Personalization:
    • Utilize AI to analyze consumer behavior and preferences for highly personalized marketing messages. How? Well you have to do the work to refine your audience, but then you can use at-scale tools like Google Ads for personalization. Much of this is built into ad platforms - but - if you do have enough scale on your website, personalization can make sense.
    • Actionable Takeaway: Implement AI-driven tools for ads, email marketing and website personalization. Time Estimate: 30 minutes to 3 months for integration and initial data gathering.
  2. Voice Search Optimization:
    • Optimizing content for voice search queries to cater to the increasing use of smart speakers and voice-activated devices. We’ve been told forever that voice search is here. It hasn’t come. Siri and Alexa were a total BUST. But - with new really good AI tools like Eleven Labs and Whisper from OpenAI, I think we’re getting really good now. Really good. It will be like the movie HER before you know it.
    • Actionable Takeaway: Incorporate natural language keywords into your content strategy. Time Estimate: 30 minutes to 2 months for research and implementation.
  3. Interactive Content:
    • Creating engaging experiences through quizzes, polls, interactive videos, and AR/VR to increase user engagement and time spent with the brand. Just Buzzfeed your brand already. Kind of kidding, but since there’s an arms race with text, why not build out quizzes that take more work but ultimately deliver more value to the reader?
    • Actionable Takeaway: Start with simple interactive content like quizzes on your product pages. Time Estimate: 1 month for development and launch.
  4. Ephemeral Content Marketing:
    • Leveraging short-lived content on platforms like Instagram Stories and Snapchat to create a sense of urgency and boost engagement.
    • Actionable Takeaway: Plan a content calendar for ephemeral content tied to promotions or events. Time Estimate: 1-2 weeks for planning and initial execution.
  5. Sustainability and Social Responsibility:
    • Communicating a brand’s commitment to sustainability and social responsibility to connect with audiences valuing ethical practices.
    • Actionable Takeaway: Highlight your sustainable practices in your marketing materials. Time Estimate: 1 month for content creation and dissemination.
  6. Predictive Analytics:
    • Using predictive analytics to forecast consumer trends and behaviors, allowing for more targeted marketing strategies.
    • Actionable Takeaway: Implement predictive analytics tools to inform your marketing strategy. Time Estimate: 2-4 months for setup and initial analysis.
  7. Chatbots and Conversational Marketing:
    • Engaging customers in real-time conversations via chatbots to improve customer service and gather valuable insights.
    • Actionable Takeaway: Integrate a chatbot into your website for customer service. Time Estimate: 1 month for implementation and training.
  8. Privacy-Focused Marketing:
    • Adapting marketing strategies to respect consumer privacy, especially with changes in data collection practices and regulations.
    • Actionable Takeaway: Ensure your marketing practices comply with privacy regulations like GDPR and CCPA. Time Estimate: 2-3 months for compliance audit and adjustments.

Top 3-5 Actionable Takeaways:

  • Integrate AI for Personalization: Start with your website and emails. Estimated Time: 2-3 months.
  • Develop Interactive Content: Begin with quizzes or interactive videos to increase engagement. Estimated Time: 1 month.
  • Implement Predictive Analytics: Use tools to forecast trends and inform strategy. Estimated Time: 2-4 months.
  • Adopt Conversational Marketing: Incorporate chatbots for improved customer interaction. Estimated Time: 1 month.
  • Focus on Privacy Compliance: Review and adjust marketing practices to align with privacy laws. Estimated Time: 2-3 months.

These strategies highlight the blend of technology, personalization, and ethical marketing that defines MarComm in 2024, offering a roadmap for innovative and effective engagement with your target audiences.