Many companies globally have to deal with the issue of corporate communications. Improper communication can lead to confusion and cause businesses to lose valuable dollars. There is a significant cost that the company has to bear due to ineffective coordination between their teams.
Therefore, it is imperative to build an effective corporate communications strategy before you start working on any project. It will give a better idea to the entire team regarding each individual’s role and responsibilities. So what is a corporate communication strategy? How do you build one? Let’s get right into it.
Corporate Communication Strategy: What Does It Entail?
The corporate communication strategy is about having a clear plan regarding the coordination among employees, suppliers, vendors, customers, and other business stakeholders.
It is a complete roadmap for the business to know how they will communicate internally and externally. The corporate communication strategy includes many different things, such as:
- Details/information to share
- Identifying the target audience
- Frequency for providing updates
- Determining the best channels to convey the messages
Any company that can leverage the corporate communication strategy can enhance its overall brand image and reputation. Below is the step-by-step process to understand how you can build an effective corporate communication strategy.
- Step 1 – Have Clear Goals and Objectives
- Step 2 – Identify your Target Segment
- Step 3 – Tailor the Content
- Step 4 – Determine the Frequency and Channel
- Step 5 – Set Metrics for Checking the Progress
- Step 6 – Gather Feedback
Let’s explore these steps in more detail.
Step 1 – Have Clear Goals and Objectives
The first thing you need to do is establish a clear set of goals and objectives that you want to achieve from your corporate communication strategy. You can select any 2 to 4 measurable goals that you want for your communications plan. These goals will set the tone for your entire strategy.
When we talk about corporate communication strategy, many people focus on the message rather than the objectives. The message should help you achieve a set of goals that will help your business in the long run.
Step 2 – Identify your Target Segment
Corporate communication strategy targets various business stakeholders such as employees, customers, vendors, etc. Each of them has different requirements and will need a distinctive approach to improve coordination. Therefore, you need to identify the target segment from the stakeholders.
The target audience will be the group to that you will deliver your message. Once you know about the segment you want to target, you need to find out about things relating to them to deliver your message properly.
For instance, your company will share relevant information with the board of directors differently then it will with the rest of the employees. Therefore, it is vital to identify the segment you want to target when building a corporate communication strategy.
Step 3 – Tailor the Content
After you identify the target segment, the next thing you need is to tailor the content accordingly. The tone and personality of the reader play a vital role in how you craft your content. It should be engaging enough to hold the target audience’s attention while delivering the message accurately.
You should think of a creative way to convey and articulate your thoughts. It will help ensure that you put your ideas into words that are understandable and clear for the audience. Also, you need to figure out the possible reaction and prepare to deal with any situation that arises.
Step 4 – Determine the Frequency and Channel
The next thing you need to do when building a corporate communication strategy is to determine the channel and frequency. You will have to find out the best modes and the coordination frequency to accomplish your objectives.
If you want to develop a corporate communication strategy for internal teams, you can decide whether to coordinate with them via email or through a meeting. On the other hand, if you want to build a corporate communication strategy externally, you can choose from any of the following channels:
- Earned media
- Owned media
- Paid media
- Shared media
Another element you need to decide is how often you will inform or share content with your target segment. Your budget and other resources will help you to determine the frequency of sending out your messages.
Step 5 – Set Metrics for Checking the Progress
After planning your corporate communication strategy, you might want to implement it as soon as possible. However, you need to set the metrics and KPIs to determine if your campaign was successful or not. Again, the metrics will depend on the target segment to that you want to deliver the message.
If you are looking to increase brand loyalty, you can see the change in engagement between your business and the customers. You can check the employee productivity to find out if the workers have understood your point of view clearly. These metrics are important to determine your corporate communication strategy performance.
Step 6 – Gather Feedback
It is important to know whether your target audience understood and perceived the message in the way it was intended. For that, you would need to gather feedback from your target audience to learn more about their reaction.
You can carry out surveys or ask the relevant individuals to give their opinion about the corporate communication strategy. It will help you identify the mistakes you made and how you can deal with them in the future.
Benefits of Corporate Communication Strategy
A corporate communication strategy opens up businesses to various benefits. Businesses can invest their time and money into building one to:
- Bridge the gap between employees and management.
- Build a positive stature in their relevant sector
- Coordinate with internal and external audiences
- Enhance the company image
Corporate communication strategies enable businesses to have a clear roadmap to brief their internal and external audiences. You can use the steps mentioned in this article to plan a robust strategy in no time for your business.