Question

What are the elements of a company’s integrated marketing communication (IMC) mix and when is it appropriate to use each?

How would you formulate a budget and strategies for an IMC plan?

Answer 1

What are the elements of a company’s integrated marketing communication (IMC) mix when is it appropriate to use each?

Integrated marketing communications means taking different components of communication, such as advertising, public relations, and marketing tactics, and coordinate them so they meet business marketing objectives.

The elements are -

Public Relations

You use public relations to create and foster relationships with publics that are important to you. It also builds a credible reputation and favorable image. Media relations is a common PR strategy, but it is not the only one, particularly in the days of social media. Social media sites can be effective relationship builders and give you the chance to demonstrate your responsiveness. It is also easy to integrate with other online and offline efforts, such as coupons, link exchanges to other sites, and postings of customer testimonials or new product announcements.

Advertising

Advertising differs from public relations in that you pay the channel, such as a magazine, newspaper, television and radio station, or billboard company, to place your message. The cost allows you to control what you want to say, where you want to say it, and how often or how long it will be shown. Your advertising should reinforce the messages you convey through your public relations to increase comprehension and retention. It can also direct people to your website, or support sales promotions by broadcasting a discount or sales special.

Sales Promotion

Sales promotion techniques are elements that are part of your marketing and sales plan. Designing them to integrate with your other communications elements keeps your messages cohesive and can boost your promotion efforts. An in-store sales promotion of an add-on, for example, such as a week of product training with the purchase of a product, or a contest for the most creative product use, can be publicized through PR and supported in advertising.

Direct Mail

Direct mail targets specific audiences, perhaps of a certain income level or within defined geographical boundaries, so that your efforts are more targeted. This strategy solicits action within a defined time period using mail items such as coupons with expiration dates, or seasonal catalogs. You can get creative with direct mail pieces and leverage that creativity with other communications. For example, you can design a wooden coin to include with your mailer that, if brought to your location within a certain time period, can be checked for a winning number for a free product. This can be promoted in-store, through advertising, and through your PR.

How would you formulate a budget and strategies for an IMC plan?

the major steps to keep in mind when developing your IMC strategy.

Step 1: Know your target audience
As a general rule, there is no “general audience”. You always want to communicate with a specific audience to make the most effective use of your resources.

Segmenting specific audiences into groups based on characteristics will help you identify who are most likely to purchase or utilize your products and services.

Step 2: Develop a situation analysis
Commonly referred to as a SWOT Analysis, this is basically a structured method of evaluating the internal strengths and weaknesses, and external opportunities and threats that can impact your brand.

A situation analysis can provide much insight into both internal and external conditions that can lead to a more effective marketing communications strategy.

Step 3: Determining marketing communication objectives
In this step, you basically want to document what you want to accomplish with your IMC strategy. Objectives should be measurable if you truly want to map your campaign’s effectiveness at the end of your plan’s term.

Step 4: Determining your budget
Having a realistic idea on what you have to work with is important as it will shape the tactics you develop in the next step. Once you determine your overall budget, you will want to come back to this after completing step five to further refine your budget allocations.

Step 5: Strategies and tactics
Looking back at the objectives you created in step three, you will want to develop strategies which are ideas on how you will accomplish those objectives. Tactics are specific actions on how you plan to execute a strategy.

Step 6: Evaluation and measurement
Almost as important as the plan as a whole, you want to outline a method of how you will evaluate the effectiveness of your IMC strategy. Sometimes elements of your plan will not work. It’s important to know what did or didn’t, try to understand why, and make note for future planning.