Marketing Communications Week 2 Class Slides PDF

Marketing Communications Week 2 Jan 29th 2025 WELCOME  Housekeeping Quick recap on last week Learning outcomes for Today Plan for Today Your ‘Comms Of The Week’ IMC Objective setting for communications 10 mins br...

Marketing Communications Week 2 Jan 29th 2025 WELCOME  Housekeeping Quick recap on last week Learning outcomes for Today Plan for Today Your ‘Comms Of The Week’ IMC Objective setting for communications 10 mins break Next week  Housekeeping & Questions from last week Brightspace is fully up to date. ‘Additional Reading’ page for each week. This is to supplement learning and aid you with your group projects. It is not testable unless specifically specified, covered in a lecture, case study or ‘required reading’. Group Project self-enrolment opens Jan 31st. Groups can be formed from both classes. The mid-term quiz will be 1 hour and the final-term quiz will be 2 hours. Lectures will typically be 90 to 100 mins. No use of electronic devices in class, unless specified otherwise. Recap on Last Week Role of marketing communications. Alignment to marketing & business objectives. Types of communication Effective communication Customer decision making process (journey). Data-driven approach Principles of IMC 6M IMC Framework 6M OF IMC Planning: Laying the Foundations: (MOD 1) Mission: What impact do you want to have? Market: With who? Execution: Translating your Strategy into a Story: (MOD 2) Message: What do you need/want to say? Media: How will you reach your audience? Impact: Measuring the Impact & Cost of Delivery (MOD 3) Money: What will it cost? Measurement: How will you know you’ve succeeded?  The importance of a mission. Alignment with business and marketing Learning goals. Outcomes Data driven approach. For Today Audience understanding. Clear measurable vision of success. YOUR COMMS OF THE WEEK Q. What did you choose & why?  Defining the Mission communication objectives to influence consumer behaviour.  6M Framework for Developing IMC 3 Stages, 6 Steps Stage III Stage I Impact Planning Stage II Sources: Harvard Business Publishing Education, Marketing Communications, 6M Framework; Philip Kotler Execution  Mission Set clear campaign objectives to clearly establish what the communications need to achieve. The behaviour change/s required (Think/Feel/Do). Set The Direction: provides clarity and purpose for all marketing communication efforts. Consistency: Helps ensure all communication activities are consistent with each other. Aligned Objectives: Alignment with Communications, Marketing and Business Strategic goals. Targeted Approach: helps ensure messaging and content are relevant to the intended audience/s. Sources: Harvard Business Publishing Education, Marketing Communications, 6M Framework; Philip Kotler  “If I had an hour to solve a problem I'd spend 55 minutes thinking about the problem and five minutes thinking about solutions.” Albert Einstein COFEE BREAK See you in 10 mins  Mission: Defining the impact you want to have. 1. ALIGN WITH BUS & 2. AUDIENCE 3. SMART GOALS 4. SET KPI’S 5. AGREE MKTING GOALS UNDERSTANDING MEASUREMENT & TRACKING - Identify the - Identify the - What are the - Determine the - Set up feedback business and audience sustainable metrics that best mechanism. marketing goals cognitive, affective outcomes that align measure success: - Agree how you will where marketing or behaviour with marketing & - From: To. track, measure communications changes that need business goals? and report. plays a role and to be delivered to - Agree specific, can have an address the measurable, impact/influence. business goal/ achievable, relevant issue/ and time-bound goals opportunity?  Mission: Defining the impact you want to have. 1. ALIGN WITH BUS & 2. AUDIENCE 3. SMART GOALS 4. SET KPI’S 5. AGREE MKTING GOALS UNDERSTANDING MEASUREMENT & TRACKING - Identify the - Identify the - What are the - Determine the - Set up feedback business and audience sustainable metrics that best mechanism. marketing goals cognitive, affective outcomes that align measure success: - Agree how you will where marketing or behaviour with marketing & - From: To. track, measure communications changes that need business goals? and report. plays a role and to be delivered to - Agree specific, can have an address the measurable, impact/influence. business goal/ achievable, relevant issue/ and time-bound goals opportunity? The Strategic Framework Marketing goals are designed to support delivery of business goals which in turn are informed and aligned with the strategic framework of the business integrating its purpose, vision, mission, value proposition and strategy. The Reason We Exist (Beyond Making Money) Purpose Vision Where we want to go and desired impact. Mission What we do. Why we do it. How we do it. Value Proposition The specific value offered to customers. Business Strategy How we will achieve our goals. Functional Strategy How we will support the business goals.  1. Goal Alignment Mkting Comms Campaign Objectives Clarify the business goals – what is the business trying to achieve? Mkting Comms Strategic Goals Marketing goals - how does marketing help deliver the business goals? Mkting Strategic Goals Marketing Communications goals – where can marketing communications can have an impact on overall marketing goals for the year? Business Marketing Communications campaign – what is Strategic Goals the specific job to be done in the short term? Marketing Function Strategic House  Alignment of Objectives BUSINESS STRATEGIC MARKETING STRATEGIC COMMUNICATIONS COMMUNICATIONS GOALS GOALS STRATEGIC GOALS CAMPAIGN GOALS LT key objectives guiding Broad LT objectives of Specific short term goals LT Key performance goals all marketing efforts to how & what the brand related to a specific that guide business align with business goals: wants to communicate campaign within a specific direction in line with its over time to help delivery timeframe. vision and mission of marketing goals. include: Market Share Growth New Product Launch Impressions EBITDA Innovation Brand Awareness Conversion Rate Revenue Customer Acquisition Brand Equity Cost Per Acquisition (CPA) Brand Positioning Click Through Rate (CTR) Market Expansion Customer Lifetime Value Brand Identity Per Person Consumption (CLV) Customer Satisfaction Customer Loyalty Website Visits Customer Engagement Social Media followers ROI  Importance of Mkting Comms Campaign Objectives Objective Alignment Mkting Comms Business Alignment: Supports the company's Strategic Goals mission and contributes to goals. Enhanced Effectiveness: Promotes brand Mkting Strategic consistency, establishes measurement Goals frameworks, and drives improved outcomes. Resource Efficiency: Focuses resources on activities that align with strategic objectives. Stakeholder Influence: Enhances Business engagement with stakeholders. Strategic Goals COFEE BREAK See you in 10 mins LET’S SEE SOME EXAMPLES Q. What stage of the funnel? Q. What is the objective? Q. What stage of the funnel? Q. What is the objective? Q. What stage of the funnel? Q. What is the objective? Q. What stage of the funnel? Q. What is the objective? Q. What stage of the funnel? Q. What is the objective? Q. What stage of the funnel? Q. What is the objective?  Mission: Defining the impact you want to have. 1. ALIGN WITH BUS & 2. AUDIENCE 3. SMART GOALS 4. SET KPI’S 5. AGREE MKTING GOALS UNDERSTANDING MEASUREMENT & TRACKING - Identify the - Identify the - What are the - Determine the - Set up feedback business and audience sustainable metrics that best mechanism. marketing goals cognitive, affective outcomes that align measure success: - Agree how you will where marketing or behaviour with marketing & - From: To. track, measure communications changes that need business goals? and report. plays a role and to be delivered to - Agree specific, can have an address the measurable, impact/influence. business goal/ achievable, relevant issue/ and time-bound goals opportunity? Understanding the Audience What are your customers current relationship with your brand? Where are they on their decision journey? What are they thinking , feeling, doing now? Where are your strength, weaknesses, opportunities and threats? How is that impacting your business & goal delivery? What needs to change to achieve your business and marketing goals? Analyse data from multiple sources. Translating the Business Goal/Challenge into a Customer goal Audience Understanding in Practice Coke Share a Bottle IMC Issue: Declining sales Objective: Halt decline Audience Understanding in Practice Customer Impact How to get young adults to choose Coke more often when with friends? How to get physically, mentally and emotionally closer to younger adults? Customer Driver Younger Adults feel like Coke is a brand for their parents, not for them. Younger Adults are not seeing or thinking about Coke as much as they used to. Younger adults are choosing other brands more often in social situations. Customer Reality Frequency decline with highest value consumer; younger adults. Business Challenge Sales are declining yoy  Mission: Defining the impact you want to have. 1. ALIGN WITH BUS & 2. AUDIENCE 3. SMART GOALS 4. SET KPI’S 5. AGREE MKTING GOALS UNDERSTANDING MEASUREMENT & TRACKING - Identify the - Identify the - What are the - Determine the - Set up feedback business and audience sustainable metrics that best mechanism. marketing goals cognitive, affective outcomes that align measure success: - Agree how you will where marketing or behaviour with marketing & - From: To. track, measure communications changes that need business goals? and report. plays a role and to be delivered to - Agree specific, can have an address the measurable, impact/influence. business goal/ achievable, relevant issue/ and time-bound goals opportunity? SMART Goals Specific Your goal should be clear and specific. Refine your objective to be as detailed as possible. Measurable Your goal should include criteria for measuring progress. How will I measure success? Achievable Your goal should be realistic & attainable. Do I have the available resources to succeed? Relevant Your goal should align with your broader objectives. Does this contribute to delivering our priorities? Timebound Your goal should have a deadline or time frame for completion. When do I want to achieve this goal?  SMART Goal in Practice Customer Impact How to get young adults to choose Coke more often when with friends? How to get physically, mentally and emotionally closer to younger adults? SMART GOAL: How to encourage young adults aged 16-21 to choose Coke for at least 1 more social occasion with friends increasing frequency of purchase per week by +1 500ml serve by end ‘25 through a targeted insight driven campaign that brings Coke into their world in a relevant way. S M A R T  Mission: Defining the impact you want to have. 1. ALIGN WITH BUS & 2. AUDIENCE 3. SMART GOALS 4. SET KPI’S 5. AGREE MKTING GOALS UNDERSTANDING MEASUREMENT & TRACKING - Identify the - Identify the - What are the - Determine the - Set up feedback business and audience sustainable metrics that best mechanism. marketing goals cognitive, affective outcomes that align measure success: - Agree how you will where marketing or behaviour with marketing & - From: To. track, measure communications changes that need business goals? and report. plays a role and to be delivered to - Agree specific, can have an address the measurable, impact/influence. business goal/ achievable, relevant issue/ and time-bound goals opportunity? KPI’s & Tracking Key Performance Indicators (KPIs) assess whether your plan is achieving the expected results. What to Measure Focus on performance that aligns with your goals. Keep the list concise and relevant to the narrative. Enhance your understanding of strategy, goals, and tactics. for measurement. How to Measure Define a base point and a realistic future target. Use industry benchmarks and past campaign data. Determine your data sources and reporting methods. Decide on the frequency of tracking and reporting. Who Will Measure Clearly identify who is responsible for measurement.  KPI’s & Tracking in Practice How to encourage young adults aged 16-21 to choose Coke for at least 1 more social occasion with friends increasing frequency of purchase per week by +1 500ml serve through a targeted insight driven campaign that brings Coke into their world in a relevant way. COMMUNICATIONS COMMUNICATIONS MARKETING STRATEGY BUSINESS GOAL CAMPAIGN STRATEGY Impressions +10% v Camp A Brand Awareness with Increase market share Halt yoy sales decline younger adults 16-21 through re-engagement (2pp) Followers +10m v Camp A (+30% v 2010) with younger adults 16-21 (+1pp). Conversion Rate +10pp v Camp A Brand Affinity with CTR+10pp v Camp A younger adults 16-21 CLV of younger adults (+5% v 2010) (+5%) CPA +/1 v Camp A Frequency of Purchase PP Consumption +10% v Camp A (+1unit v 2010)  6M Framework for Developing IMC 3 Stages, 6 Steps Stage III Stage I Impact Planning Stage II Sources: Harvard Business Publishing Education, Marketing Communications, 6M Framework; Philip Kotler Execution Any Questions?  Topic: MARKET: Audience understanding & Insight Next Week Your ‘comms of the week’ – what was the ‘Mission’ Reading and discussion questions on Brightspace