Marketing Communications PDF

Marketing Communications Engaging Consumer and Communicating Customer Value The Promotional Mix Sales Advertising Promotion Personal Direct Selling Marketing...

Marketing Communications Engaging Consumer and Communicating Customer Value The Promotional Mix Sales Advertising Promotion Personal Direct Selling Marketing Public Relations (PR) Integrated Marketing Advertising Communications (IMC) Integrated and Sales Personal coordinated promotion selling communication channels to deliver a clear, consistent, and compelling message about a company and its products Direct Public marketing relations The Need for IMC Why IMC? Consumers are Marketing strategies Advancements in changing are changing digital technology Less “broadcasting” New digital and social Better informed more “narrowcasting” media Shift towards targeted Enhance CX and Don’t need to rely on interactions in narrowly facilitate customer marketers’ information defined markets journey Advertising (sometimes called content marketing) What is Advertising? A paid form of communication (message) created by the marketer (brand or firm etc.) aimed at customers. Ads have specific goals, Inform – build primary demand and awareness Persuade – change attitudes Remind – keep customers thinking about the product Entertain Persuade: Thinking vs. Feeling Making people think Making people feel Lots of info, Appeals to arguments, emotions – comparisons, happiness, differentiation, sadness, fear, benefits. anger, etc. IMC Example: Shreddies Objective: to “make Canadians think about Shreddies again.” (Remind and re-invigorate) The initial objectives were to re-fresh packaging and create a 30 sec TV spot. The Winning Concept: Diamond Shreddies Clip: https://www.youtube.com/watch?v=B8McutvNwtI  IMC Example: Shreddies “Recent advances in cereal technology have allowed us Results: to take Shreddies cereal to a whole new level of - 265 press stories geometric superiority. - 18% increase in sales in first month One taste and you’ll wonder how you’ve been so square - Reintroduction of 67 year old brand for so long. Welcome to the 45th degree.” Public Relations (also a large component of Earned Media) Public Relations Objectives Functions To build good relations with Product and the company’s publics. Investor brand Favorable publicity relations publicity Good corporate image Maintain and protect company reputation Development Lobbying Crisis management Press Public affairs relations or press agency Fearless Girl Women in leadership is good for business. 10B social, print, and digital media impressions. 420 companies globally added a woman director to their boards. Crisis Management Personal Selling The Nature of Personal Selling Personal Selling: Personal presentations by the firm’s sales force to engage customers, make sales, and build relationships Well educated, well-trained professionals Adds value by maintaining long-term customer relationships (esp. B2B). Links the company with customers. For many customers, the salesperson is the company Stereotypes: Dwight Shrute (The Office) Vince w/ ShamWOW (https://www.youtube.com/watch?v=1Q39yGLPkMY) Personal Selling Process Presentation Prospecting Pre-approach Approach and and qualifying demonstration Objection Closing Follow-up handling Transaction-oriented marketing focuses on closing the sale; relationship marketing aims to make sense of the selling process in the context of maintaining profitable relationships Watch a personal selling pitch Man Men Clip: Don Draper speaks with Kodak Execs: https://www.youtube.com/watch?v=suRDUFpsHus Discuss: What stage of the personal selling process is occurring in the clip? How do you know? How is Don Draper asking Kodak to connect with consumers? What characteristics does Don display that make him an effective salesman? Thought exercise: Apply the person selling process to finding your next job Presentation Prospecting Pre-approach Approach and and qualifying demonstration Objection Closing Follow-up handling Sales Promotion Sales Promotion Short term incentive to encourage the purchase of a product or service Sales Promotion Objectives: Enhance awareness Encourage purchase now Pull people in by lowering perceived costs Contributors to growth in the use of sales promotions Effective short-run tool Stiff competition Decline in ad efficiency Deal-oriented, price-sensitive consumers Consumer sales promotions Tools Description Offers of a trial amount of a product Samples Most effective and expensive Certificates that save buyers money when they purchase Coupons specified products Price reduction occurs after the purchase Rebates (cash refunds) Customer sends proof of purchase to the manufacturer, which then refunds part of the purchase price by mail Price packs (cents-off deals) Offers consumers savings off the regular price of a product Goods offered either free or at low cost as an incentive to Premiums buy a product (BOGO) Consumer sales promotions Tools Description Advertising specialties Useful articles imprinted with an advertiser’s name, logo, or message that are given as gifts to consumers (Gift with purchase) Point-of-purchase (POP) Displays and demonstrations that take place at the point promotions of sale Contests, sweepstakes, and Give consumers the chance to win something games Event marketing Creating a brand-marketing event or serving as a sole or (or event sponsorships) participating sponsor of events created by others WTF Campaign 2020 (Australia) Pringles ran a sales promotion for a mystery new flavor, built around the tagline WTF = what’s the flavor? New packaging: Direct Marketing Direct Marketing Online marketing (Websites, online ads, promotions, videos and blogs, email) Digital and social media marketing Social media Mobile marketing (text, notifications) Face-to-face Direct-mail Catalogue Traditional direct marketing Telemarketing (phone) Direct-response TV marketing (Shopping Channel, QVC, Infomercials) Kiosk marketing (usually temporary stands in high-traffic areas) The Promotional Mix Becomes the Trifecta Advertising Sales Promotion Personal Selling Direct Marketing Trifecta Public Relations (PR) Marketing Trifacta OWNED PAID EARNED Owned Media Any content the brand owns and controls Website, social media accounts, emails, company newsletter, events etc. To build longer-term relationships with existing and potential customers Targets existing brand communities Retain loyalty and interest Communication channel the marketer builds, controls, and uses the create Brand awareness Search visibility Thought leadership (perception of authority and credibility/trustworthiness) Content Marketing (formally known as advertising) Focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience and drive profitable action The cornerstone of an owned marketing communications strategy Inbound marketing (attack traffic, convert to leads, convert to sales) VISON Ex. Lulu Lemon Paid Media External marketing efforts that involve a paid placement Advertising, traditional marketing – broadcast (TV and radio), print (magazines, newspaper) and out-of-home (billboards, signs/flyers/posters), display ads, influencers, paid search engine (SEM) Generate awareness, traffic, and conversions Things to consider: Context: Consistent with consumer expectations Budget/costs: Can you afford it? Availability: Is it available? (Media vehicles can sell out months in advance) Competition: Enough differentiated share of voice? Reach and frequency: How far and how often? Seasonality and timing: Can you advertise at the right time? Paid Media Metrics – Are your efforts successful? Important metrics Sales and revenue generated Conversion rate: % of consumers who completed the desired action Leaving contact info (lead generation) Navigating past the website homepage (research/engagement) Sales generation Cost-per-click # of consumers clicked through the ad to website Impressions # of people who saw the ad Earned Media Content developed and published about a company by a third-party (not owned by the company) Free media, earned content Cannot be bought or owned Gained organically Content gains traction and attention via social media and word of mouth Also includes: user-generated content, reviews, WOM Consumers place higher degree of trust in content generated by third- parties. Shared worldwide and received over $60 million in media impressions. $113 million in earned media and Website traffic up 300%, 20% reduction in rail-related resulted in an increase in its Facebook interaction up 800%, accidents. burger sales. Twitter interaction up 2700%. Viral Marketing Reminder Sign your name card