Ionian philosopher Heraclitus offered many pearls of wisdom. One is the saying: “The only constant in life is change.” Uttered before 500 BC, his profound observation is still applicable to corporate businesses and marketing strategy, and life today.
The television, once a symbol of cushy middle-class life that resided in TV rooms (a room specifically named after this piece of tech), now fits in our pockets. Today, instead of marketing during prime-time TV, we can advertise products and services every time someone logs onto social media. The ability to master and exploit societal and technological change determines which corporations will continue their legacy and which will fall into the ruins of late capitalism, when and if that day ever arrives.
We can speak about change on multiple levels. While tools and technology have advanced methods of marketing, Maslow’s Hierarchy remains, and the corporate marketing objective is still the same; promote a corporate’s solutions to alleviate pain points and do it so well that consumers pay for products and services generating profit.
However, the spirit of times has shed a spotlight on wealth inequality and climate change. Marketing has become increasingly customer-centric, and social-corporate responsibility is a key drawcard for many consumers. With that in mind, we’ve put together a simple guide to help with your corporate marketing campaign development.
Corporate marketing promotes a company as a whole. It aims to strengthen its image to build and attract potential customers through branding, advertising, communications, and promotions. A corporate marketing team manages the messages and outward perceptions of a company. Excellent corporate marketing promotes brand awareness and increases the bottom line.
Today’s potential buyers are increasingly concerned about what a brand stands for. They are savvy, educated, and possess healthy skepticism that demands greater corporate transparency. Companies that treat corporate marketing as an important business asset and execute campaigns well will attract new customers.
Getting a corporate marketing campaign developed is a multistep process that’s research-intensive and requires careful planning. To develop marketing campaigns, you need to determine a brand messaging framework that outlines; your target audience demographics, their psychographics, their challenges, their preferred digital channels and platforms of use, as well as their content consumption habits.
Companies that treat corporate marketing as an important business asset and execute campaigns well will attract new customers.
Then you will need to set marketing plan goals and develop messaging around these objectives. The aim of marketing, and specifically content marketing, is to meet customers along the buyer’s funnel. So, some messaging tactics will aim to promote a company, while others may be to encourage a direct sale. It all comes down to your overall corporate marketing strategy.
One of the growing debates in the corporate marketing industry is whether to establish an in-house marketing team or outsource a marketing agency. There are pros and cons to each, which we won’t get into here, suffice to say that outsourcing usually saves money. You don’t have to equip workplaces, buy additional software, or offer any bonus perks beyond the agreed price for the corporate marketing agency’s services. In this case, some corporates may have a marketing manager who is in charge of public relations and the marketing budget and who works together with an outsourced agency on brand identity and messaging.
An article by Ranjay Gulati, the Professor of Business Administration at Harvard Business School, goes into great detail explaining the necessity of customer focus. It seems obvious, but the more attuned a business is to its customer’s needs, the more it can use advertising and messaging tactics to appeal to these needs, the more customers it attracts, and the more business success it has.
In the context of corporate marketing, the institutionalized of customer focus allows technology to support and automate decisions. It is through knowing your customers that you can segment your target audience and develop personalized messaging that appeals to them and makes your company stand out. Corporate marketing works on a granular level, allowing you to target potential customers based on age, location, and interests, for example. Ultimately, if you’re not exacting, you can’t market to them effectively.
Prudential and Metlife commercials are different because each company has a unique voice and messaging. Memorable content, compelling storytelling, and a distinct personality with stand-out messaging all require a brand voice. Finding your voice is important because you want your brand identity to be consistent and recognizable.
To find your brand voice, you should review your mission statement and company values, think about the tone you wish to communicate in, and how you want your target market to perceive you. Finding this voice isn’t easy, but asking the right questions will help you narrow down exactly what you want your company to sound like when it communicates its message to the world.
Finding your voice is important because you want your brand identity to be consistent and recognizable.
Unique branding has the power to influence customer behavior and persuade people to buy your products or services. Take a look at South African insurance company Naked. They’ve completely revolutionized the insurance industry by offering insurance through an AI app that’s hassle-free. Their website is clean, simple, and to the point. Together with their unique selling proposition, it attracts Millennials and Gen Z. The company is still selling insurance, but their unique branding has appealed to a younger market.
According to Reuters, 90% of companies use social media as part of their corporate marketing communications strategy. Harvard Law School found that Twitter and Facebook are the two most used platforms for corporates. Social media channels humanize brands, who can directly communicate with their audience in real-time.
In a digital age where most people look at their smartphones before getting out of bed in the morning, social presence presents a massive opportunity to reach new customers. It offers data on buying habits and customer brand perception. Corporate marketers can use it for advertising, press releases, content sharing, promotional giveaways, and mobile applications. It offers instant customer feedback and builds customer loyalty.
Blogging should be part of your corporate marketing strategy because it provides more in-depth information for your customers than a 280 character tweet or 30 -second TVC can. Corporate blogging is so important because it increases brand awareness and provides the opportunity to explain complex business offerings to potential customers.
More than that, each blog post with relevant content to its users can be found via search engines and read and shared on social media and other sites. This matters because blogs have a compounding effect. The more users you have directed to your website, the higher you’ll rank on Google search. Websites with a higher ranking receive loads more traffic that translates to qualified leads and business sales.
Corporate blogging is so important because it increases brand awareness and provides the opportunity to explain complex business offerings to potential customers.
Proctor & Gamble’s blog is an effective communication channel that doesn’t directly sell its products but rather builds trust and credibility with its audience. Adding a blog to your existing website can increase traffic by as much as 434% percent. Blogging enhances inbound marketing effects by keeping customers engaged and growing demand and interest in your products or services.
As many as 84% of consumers admit they’re more likely to stick with a brand that offers a loyalty program. Loyalty programs are one of the most effective corporate marketing tactics because they make customers feel recognized and valued, which encourages retention, referrals, and profits.
Every type of corporate business — from beauty product creators to banks — has loyalty programs. Amazon Prime is a famous example where for a flat annual fee, members receive unlimited two-day shipping, as well as perks related to their streaming services and sales.
According to Harvard Business Review, “a rewards program can accelerate the loyalty life cycle, encouraging first-or-second year customers to behave like a company’s most profitable tenth-year customers — but only if it is planned and implemented as part of a larger loyalty-management strategy.”
Loyalty programs are one of the most effective corporate marketing tactics because they make customers feel recognized and valued, which encourages retention, referrals, and profits.
Free trials are also a win-win because you can demonstrate what your products are capable of, and your customers can test your product without risk. When they do make a purchase decision, they feel more informed and comfortable in doing so because they have first-hand experience of your product. In the app industry, it’s relatively common to offer users a limited production version for free, like the software editing app Filmora, for example.
In the world of corporate marketing, a top-tier website entails much more than pretty graphic design and strong visuals. Experienced corporate marketers know that an optimized website is the foundation for business success. Website optimization encompasses all the technical and marketing techniques used to acquire traffic, engage prospective leads and convert them into buyers using a specific method that meets several search engines and behavioral economic goals.
Briefly: Your website will need search engine optimization (SEO), in which all content contains specific keywords that your target audience searches for online. If your keywords match their online search queries, then you’ll rank higher on search engine results pages (SERPs). Of course, this is a simplified explanation, but in essence, robust SEO delivers qualified leads.
Site speed is another critical factor to consider. A website that takes over 2.5–3 seconds to load loses a significant number of visitors. In the same vein, so do landing pages that are not adjusted to work across devices. Remember, most people search on their mobiles, so fast loading time and a mobile-friendly website is a must! You can always use Google’s Digital Toolbox to improve this aspect of the online customer experience.
Mixed marketing is a model of business, historically centered around four pillars of strategy: product, price, place, and promotion. Because each pillar constantly evolves, the marketing mix has to remain agile to change and needs constant refinement. Over the years, it has been used as a tool to help brands understand what elements need to combine to meet their corporate marketing goals and objectives.
While the four elements of the marketing mix were first utilized in the 1960s, their foundations can still be used today to help you test your current marketing strategy or decide whether to take a new company product to the market. Once you’ve defined your ideal marketing mix, you should test the overall product or service offer from the perspective of a potential customer. Does it satisfy their needs? Will they think the price is reasonable? Where will they find it, and can your marketing target it appropriately?
Top tip: When you’re using the marketing mix methodology, work in as much granular detail as possible and continue to optimize your marketing mix by asking questions and making changes. The success of digital marketing relies on the analysis of granular data that’s actionable, and so does the scalability of your business.
While corporate marketing objectives have remained the same for decades, marketing strategies have changed. As the fourth industrial revolution accelerates, keeping abreast of new tools and changing consumer habits becomes more challenging. As expert corporate marketers, we can help your business embrace and leverage digital change, so you can focus on product and service development. Our company offers full-service web design and corporate marketing strategies to grow your revenue. Contact Comrade Web at (312) 265-0580 or click here to learn more about our corporate marketing.
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