2024 Mid-Year Checklist: Is Your Comms Strategy Working For You?
As we approach the middle of 2024, with marketing strategies being reviewed and look ahead plans being developed, there are a few key questions to ask in evaluating your communications strategy— and your investment to date.
In order to translate your innovations into impact, whether for a new product, service or a point of view you want to own, your ideas need to be both understandable and discoverable.
How do you know if your communications strategy is on track, and can justify your investment? And if you haven’t started, how do you know whether this is the right time to jump in?
Here are five key questions to ask.
Do people understand what you do, and the problem you solve? It sounds simple, but it is also incredibly foundational. Are you articulating the problem that you solve in a way that is both clear and relevant to right now? Are you sharing your differentiations from others? Having the right set of strategic messages that showcases how and why you are unique can be a gamechanger when it comes to your communications strategy, ensuring consistency of positioning across the whole business.
How important is word of mouth to your company? Word of mouth marketing is incredibly important to some companies, whether that’s to attract the attention of buyers, investors or partners. And often this starts with organic or word of mouth marketing. For example, recent research from FTI Consulting showed that:
56% of investors surveyed increased their investment due to company news, while 50% of them considered increasing their investment, and 42% recommended others to invest.
More than 80% of investors form perceptions of a company based on what they are seeing in the media or online, rather than relying solely on your presentation decks.
Nearly half of investors surveyed (41%) reported that they started following a company on social media after seeing a positive story about them.
As hunger for content increases across the board, it’s more important than ever to be where your investors and customers are and leverage the “word of mouth” that comes with it on digital and social media channels.
Do you need to gain rapid mind-share in an evolving industry? If yours is an industry that is rapidly changing and evolving, then you can’t afford not to get involved. As the pace of digital transformation quickens, digital spending is projected to reach 3.4 trillion U.S. dollars by the year 2026, making it even more important to make sure that you stand out from the competition before you become yesterday’s news.
Are you building trust as an expert? Don’t underestimate the importance of trust and credibility in your efforts to win over your target audiences, especially when it comes to your thought leadership efforts. According to this year’s Edelman Trust Barometer, 75% of global B2B buyers and C-suite leaders say that a particular piece of thought leadership content has led them to research a product or service they were not previously considering. Additionally, it found that 73% of B2B buyers consider thought leadership to be a more trustworthy basis for judging a company’s competencies than traditional marketing materials. The more authentic, transparent, and consistent you can be in your communications, the more likely you will be able to build loyal and lasting relationships.
Are you harnessing your case studies and proof points to show your solution in action? Client case studies and testimonials are more than just success stories. They can wield immense influence over prospective buyers, providing real-world evidence, building credibility and fostering deeper connections. According to the Content Marketing Institute, case studies are among the top three most effective types of content for lead generation, according to 66% of B2B marketers. And the Edelman Trust Barometer found that the highest quality content includes strong research and data (55%), helps them better understand their own business challenges and opportunities (44%), and offers concrete guidance and case studies (43%). So, whenever you have the opportunity to demonstrate results in action, use it to add color, dimension and proof to what you’re saying.
Use this halfway point as a prime chance to take stock of how your communications strategy is measuring up. Interested in learning more about how to get more out of your comms strategy? Reach out to us at RAISE to learn more.
