IMPORTANCE AND STRATEGY OF CORPORATE COMMUNICATION

Importance of Corporate Communication

Think of corporate communication as the voice of an organization. It speaks internally, to employees, as well as externally, to suppliers, vendors, media, investors and other stakeholders. It speaks when things are going well in the corporation and when there is a crisis. As with all good and effective communication, it must be clear, consistent and controlled. There are many varying aspects of corporate communications, and they can all affect or contribute to an organization’s reputation.

External Functions of Corporate Communications

Corporate communications serve several audiences and purposes external to the organization. Companies need to communicate effectively to the media, so they engage public or media relations professionals. If organizations need to liaise with government agencies or if they lobby, they need government relations experts. Public companies need to employ investor relations specialists. Some companies may have specific individuals to handle relations in the community, such as charitable or volunteer works.

Internal Functions of Corporate Communications

A common aspect of internal corporate communications is employee relations -- ensuring accurate and consistent communication with employees. This communication can be both formal and informal. The employee handbook, memorandum and employee reviews are examples of formal communications; personal or ad hoc conversations would be informal communications. Regular and well-executed employee communications is particularly critical during tumultuous times for an organization to ease anxieties, boost morale and inhibit inaccurate information that may trickle outside the organization.

Corporate Communication Strategy

A corporate communication strategy framework is a tool for planning communication with your employees, customers, suppliers and investors. You can use the framework to build a better understanding of your company and enhance your reputation with people whose attitudes and actions influence the success of your business. There are many techniques and possibilities for drawing up a corporate communication strategy, and all of them probably prove their effectiveness. The most important thing is to have some kind of communication guidelines in place, and keeping in mind the following key elements in the process of drawing up your strategy.

 Identify the purpose of your communication: why do you want to communicate and what do you expect to get out of it for your business?

  Identify your target audience: to whom do you want to communicate? Which target audience might benefit the most from your information?

  Design your message: what do you want to talk about? What are the content, mood and language of your message?

  Identify the channels: reach your audience by placing your message where they will read it.

Stakeholders

The communication strategy framework identifies each of the groups you must influence and describes the attitudes you want them to have. Employees and prospective employees should have confidence in your company and consider it a great place to work. Customers should believe you meet their needs with quality products and excellent service. Suppliers should feel that working with you is good for their business. Investors should be confident that your company is well managed and has good prospects for the future.

Research

To develop your communication plan, find out more about the actual attitudes of each group and compare the results with your target. Research the publications that each group reads and check them to find references to your company or your products. Look for similar information on social networking sites. Ask sales representatives for their views on customers’ attitudes. By identifying areas where your company is misunderstood or unknown, you can establish communication tasks and set priorities.
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