Corporate communication: what is it?
Corporate communication is an organizational communication strategy that communicates the corporate identity to both internal and external stakeholders. It consists of all workers, supervisors, investors, and stakeholders who spread the word about the brand to the outside world. Among the various channels of business communication are
Written: Press releases, memos, emails, promotional materials, website copy, and advertisements.
Spoken: Press conferences, meetings, speeches, interviews, and videos.
Nonverbal: Pictures, infographics, posters, illustrations, and brand images.
The public, consumers, media, government, third-party regulators, shareholders, consumers, and potential customers are all included in the audience of corporate communications. Determining the organization’s social role and helping to develop the corporate vision are the primary goals.
What Makes Corporate Communication Vital?
During times of high organizational stress, the value of corporate communication is felt. In the global economy, businesses face a variety of internal and external challenges. It can become overwhelming to deal with the convergence of markets and products as well as the increasing exposure to informational jargon through outside media.
While keeping corporate social responsibilities (CSR) in mind, businesses must also maintain a robust global network of diverse individuals. Here, corporate communication is helpful because
Engaging employees internally
Voicing the corporate brand
Handling crisis situations
Encouraging employee productivity
Attracting and retaining top talent
What are the Types of Corporate Communications?
There are 3 main types of corporate communication. They are:
1. Marketing Communication
All kinds of communication that are directed towards the external market voicing the brand image of the organization fall under marketing communication. It includes promotion materials, ads, social media, website copy, blogs, white papers, email communication, sales promotion, etc.
2. Organizational Communication
Organizational communication covers heterogeneous types of communication that represent the organization in various forms. It includes press releases, PR media, investor meetings, labor market communication, corporate social communication, environmental communication, etc.
3. Management Communication
Management communication encompasses mostly the internal communications in the organization that includes planning, delegating, goal-setting, and commanding of work to be done. For example, managers meet together to decide on the OKRs for the next quarter and then delegate the work to the junior employees.
What are the Top Functions of Corporate Communications?
The functions of corporate communication encompass cover important tasks that contribute to the overall success and reputation of a company. The top 10 functions include:
Targeting key trade press to maintain brand equity.
Implementing tactics for face-to-face interactions.
Selecting appropriate media and crafting messages for various stakeholders.
Creating a strong and identifiable corporate image.
Building the reputation stature of the organization&rsquos key executives.
Managing crisis communication effectively.
Assisting in change management for internal and external stakeholders.
Maintaining investor and shareholder relationships.
Supporting community relations through corporate social responsibility.
Developing and implementing internal communication strategies to foster employee engagement and alignment with the company&rsquos goals.
Building A Corporate Communication: The Holy Trinity
Building a good business communication plan includes three essential aspects: the audience, the medium, and the message.
1. Audience
It is necessary to identify the audience (or stakeholders), their expectations from the company, and their importance. The organization must ensure confidence towards its internal and external stakeholders to their best interests.
2. Medium
The medium contains communication channels through which the message is to be communicated. It can include internal channels like meetings, brainstorming sessions, social events, etc. External ones include conferences, events, exhibitions, etc.
3. Message
The message asserts the perception or picture of the company in people&rsquos minds. Before developing communications, it is vital to grasp the target audience&rsquos perspective. Each message should suit their information demands and fulfill the organization’ responsibilities towards a particular stakeholder group.
What are some instances of Corporate Communication?
Here are some instances of Corporate Communication under broad categories:
Advertising Newsletters Television Social Media Publications
Budget, Corporate Plan, Annual Report, and News Letters
Newsletters, both internal and external
Electronic notice boards via websites
Surveys
