Communicating your company’s brand positioning and delivering it to the target audience is the foundation of the organization’s marketing strategy. Designing the right marketing mix involves the four P’s i.e. Product, Price, Place and Promotion. If you are in the field of marketing communications, then you must coordinate your efforts towards the last P of the marketing mix – Promotion. You need to develop strong sales and advertising messages that will connect with your customers instantly and effectively highlight your product’s quality and differentiation from other brands. Remember, while creating your promotional mix, you should ensure that you can deliver your promises and are able to create a believable position in the market. Company reputation is built over years but it just takes seconds to lose it because of unethical promotions or inability to deliver to your customers. Therefore, promotions are as important as your product or service quality, pricing and other offerings. Creating an effective marketing communication mix through a well-researched strategy will not only help your reach out to your customers but also help you adapt to the ever-changing marketing environment.
- Identifying target audience
If you don’t know who your audience is, you can’t decide on what to communicate, how to communicate, when, where and who will communicate the company’s message. Therefore, the first step to building a marketing communication mix is to identify your target audience.
- Determine Communication Objectives
Companies must find out at what stage of buyer-readiness their consumers are presently in. The six stages that consumers normally go through before buying a product are – awareness, knowledge, liking, preference, conviction and purchase. For more insights on creating the right marketing communications mix, skip right ahead to this course on effectively managing your digital Marketing Campaign. You must design your communication mix so as to address all these aspects as well as the organization’s objectives in delivering the message and moving the target audience towards a favorable stage.
- Delivering the Message
Your promotional messages must not only be catchy and hold the consumers’ attention but also compel them to like your product and make a purchase. Putting the message content together and choosing the appropriate communication media either through personal or non-personal channels is an important part of delivering the right message at the right time.
- Setting up Promotional Budget
While there are innumerable ways to attract the customers, you need find out how much you can spend on promotions. Budgeting based on the target consumers and industry requirements is key to achieving promotional success.
- Creating a Promotion Mix
Different companies have different marketing strategies wherein they use several promotional tools like advertising, direct marketing, personal selling or online marketing etc. Each tool has its own advantage and costs involved; therefore it is important for you to choose the right marketing communications mix also called as promotion mix.