IMC Communication Process, Traditional models
- Integrated marketing communications (IMC) is an approach used by organizations to brand and coordinate their communication efforts. The American Association of IMC is defined by Advertising Agencies as “a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines and combines these disciplines to provide clarity, consistency and maximum communication impact.” The major goal of an IMC strategy is to provide customers with a seamless experience across several areas of the marketing mix. Each marketing communication channel reinforces the brand’s fundamental image and message by working as part of a coherent whole rather than in isolation.
- Advantages of Integrated Marketing Communications
- With so many items and services to select from, customers are sometimes overwhelmed by the sheer volume of ads flooding both online and physical communication channels. Marketing communications risk being disregarded or ignored if they are not relevant to customers’ needs and desires.
- One of the primary advantages of integrated marketing communications is that marketers can clearly and effectively express their company’s narrative and message across several communication channels, hence increasing brand recognition. IMC is also less expensive than mass media since customers are more likely to connect with companies via many forums and digital interfaces. As customers spend more time on computers and mobile devices, marketers want to provide numerous exposures to their brands via various contact points. Companies may then assess the effectiveness of their communication strategies as a whole, rather than as individual components.
- The second advantage of integrated marketing communications is that it provides a competitive edge to businesses trying to increase sales and profits. This is particularly valuable for small and medium-sized businesses with limited personnel and marketing funds. IMC engages clients in contact and guides them through the many phases of the purchasing process. Throughout the interaction, the company consolidates its image, engages in discourse, and cultivates its connection with consumers. IMC can help create a frictionless shopping experience, encouraging consumers to become loyal, lifetime customers.
- Identify your consumers based on behavioral data
- Let we start with this assumption: In educational institutions, the consumer is the student.
- Behavioral data: Informs us about what clients do, how they behave, and their history with our service.
- Demographic data includes client information such as age, location, gender, and income.
- IMC relies on people’s actions. The essential point is that behavioral data consistently outperforms demographic data. First, organize your consumers based on their actions. After that, expand it with more forms of segmentation.
- Calculate the financial worth of your clients and prospects.
- Marketing is typically seen as an organizational expenditure. However, an IMC approach compels us to think of marketing as an investment, a strategic instrument that impacts incoming funds.
- To determine how much we can spend to recruit new students, we must first assess the financial worth of our present students and prospects. Customers generate revenue, therefore this value serves as the foundation for marketing expenditure. Use this number to define objectives and plan marketing efforts.
- Create and convey messages and incentives.
- We can now define marketing objectives that are aligned with our institution’s financial goals, and then produce and distribute relevant marketing messages to prospects and consumers.
- Tie marketing goals to financial results using these two components:
- Delivery: Where do buyers interact with your brand? What channels do they choose to engage with your brand?
- Content: What consumer insights can you utilize to link what your brand wants to provide and what your client wants to buy?
- While a typical marketing strategy would need you to identify your creative content first before selecting the channel, IMC reverses this process by first gathering information about your clients’ whereabouts. With that information, you may approach them with content and marketing based on consumer insights.
- Estimate the return on customer investment (ROCI).
- Step four focuses on calculating ROCI as a consequence of your marketing and communication efforts. This is the purpose of IMC.
- Wouldn’t you rather spend in marketing campaigns that result in the most loyal and lucrative customers? Prove to top officials that a $100 investment can generate $1,000 in customer revenue, and you won’t have to battle for money again.
- How To Use:
- Analytics: descriptive and predictive.
- Attribution: First, Last, and Multitouch
- Optimization: A/B testing, control groups.
- Budget, allocate, review, and recycle.
- A real IMC method demands you to budget toward the end, which is the polar opposite of how most college and university budgeting systems work.
- Think like an investor and be aware of key financial metrics such as client acquisition costs, retention rates, and the difference between short-term and long-term profits.
- Understand the three C’s.
- Contribution refers to funds earned over time.
- Commitment: how much bucks you receive compared to the competitors.
- Champions provide support, engagement, and advocacy for your brand.