Building strong, positive brand equity depends on your marketing programmes. However, your brand image and brand awareness rely solely on marketing when it comes to reaching satisfactory levels necessary for strong brand equity.
What Is Marketing?
Marketing entails communicating with the customers, mostly through advertising. Every marketing programme revolves around not only products and pricing but also the distribution channels. You need to demonstrate the specifications of these elements to the consumers.
Advertising allows you to do that. It’s essential to make your customers aware of what sets you apart from the competition. However, it’s equally important to note the similarities as well.
Strong brand equity depends on creating long-lasting, positive impressions in the consumers’ minds. Furthermore, developing loyal, two-way relationships with consumers is equally important. And the only way to accomplish that is through marketing.
Modern Marketing Techniques
Marketing has to keep up with the changes the modern technology brings. Consumers have access to in-depth information, and they are more than tech-savvy. Therefore, marketing programmes have to accommodate to those facts.
For example, modern technology allows users to skip TV commercials in the recorded programme. That’s great for consumers, but it kind of ruins your investment, right? The most important trick is to adapt. Consumers will skip commercials during the programmes they want to watch, but they will watch them while waiting for their favourite show to start.
If the consumers don’t get to see your advertising, then it isn’t useful. Therefore, there’s no point in wasting your money on it. Furthermore, you have to implement those types of adverts that will reach your target audience. For example, the younger audience doesn’t spend so much time watching TV as the older generations do. You’ll probably have more luck communicating with them via Internet ads.
What Makes Marketing Communication Effective?
Firstly, to be fully effective, an advertisement needs to convey your message clearly. Everybody has to be able to understand it. Furthermore, before you place your message out there for everyone to hear, you have to do some analysing. Find out what the current state of brand awareness is. What’s more, look into whether it needs improving or not. Look into the type of attitude the consumers have toward your brand. Then adjust your marketing communication accordingly.
Again, it’s important to remember to state the differences and similarities with your competitors clearly. After your marketing communication reaches the audience, see if it was effective or not.
Factors That Affect Marketing Communication
You have to give your consumers a chance to experience communication.
Your marketing communication has to leave a long-lasting impact on your consumers.
You can’t leave customers wondering about the meaning of your message. Keep it clear and concise.
Always measure whether your marketing communication was effective or not. You can do that by analysing the actions your consumers take — they can be positive or negative.
Marketing Communication Options
You can communicate with your consumers in various ways. Each option has some benefits and downfalls.
This is the most common way of marketing communication. You can publish ads in print, on TV and radio, or in magazines and newspapers. Advertising is a great way to reach a broad audience. What’s more, you can reach people who aren’t geographically close to you. However, running ads can be expensive, especially if you choose the television as your medium.
Radio has a much smaller reach than television these days, but it’s also less expensive. You can’t reach people globally with it, but you can still reach a large number of people. However, radio advertisements don’t have the same appeal as television ads. People can only hear your announcements, which makes attention-grabbing that much more difficult to achieve.
Print ads give you the opportunity to provide more information to your potential consumers. However, much like the radio, these ads only have one channel of stimulation — the visual pathway. Therefore, they probably won’t generate the same level of response as TV ads would, for example.
You can also include direct marketing as a form of marketing communication. Furthermore, emailing potential clients or going door to door is still useful, if somewhat outdated. Billboards, phone calls, and direct marketing at the point of purchase shouldn’t be neglected either.
Promotions are also a great way to communicate with your audience. There are two different types of promotions.
These types of promotions include sampling the products at the point of purchase (malls, supermarkets, shops, etc.). Furthermore, consumer promotions also include discounts and coupons, as well as various other promotional strategies such as gifts.
Trade promotions include targeting partners instead of customers. Retailers, distributors, and other business partners shouldn’t be neglected when it comes to marketing. These promotions can also be in the form of gifts or even cash incentives.
An effective marketing communication programme will always establish a connection with the consumer. Furthermore, it will communicate the right message and make an impression. That impression will later lead to positive action from consumers. That’s how marketing communication leads to raising brand awareness and improving the brand image, which results in strong brand equity.