What is Corporate Communication?
Corporate communication is an approach of organizational communication involving internal and external members that convey the corporate’s identity. It includes all employees, managers, stakeholders, and investors who communicate the brand’s message to the external market. The different forms of corporate communication include
- Written: Advertisements, emails, website copy, promotional materials, memos, and press releases.
- Spoken: Video, speeches, interviews, meetings, and press conferences.
- Non-spoken: Photographs, infographics, brand images, illustrations, and posters.
The audience of corporate communication includes the general public, customers, media, government, third-party regulators, shareholders, customers, and potential customers. The main objective is to define the organization’s role in society and assist in building the vision of the corporate.
Why is Corporate Communication Important?
The importance of corporate communication is felt during situations of high stress inside the organization. Businesses face various challenges internally and externally in the global economy. The convergence of products and markets with the growing exposure to a jargon of information through external media can get overwhelming.
Companies also need to maintain a strong network of individuals across the world in a diversified manner while keeping in mind corporate social responsibilities (CSR). Corporate communication comes in handy here by
- 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’s 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’s goals.
Building A Corporate Communication: The Holy Trinity
Building a successful corporate communication strategy includes three main aspects: the audience, the medium, and the message.
It is essential to identify the audience (or stakeholders), their expectations from the organization, and their importance. The organization must ensure assurance towards its internal and external stakeholders to their best interests.
The medium contains communication channels through which the message is to be conveyed. It can include internal channels like meetings, brainstorming sessions, social gatherings, etc. External ones include conferences, events, exhibitions, etc.
The message asserts the perception or image of the organization in people’s minds. Before crafting messages, it is crucial to understand the target audience’s mindset. Each message should meet their information needs and fulfill the organization’s responsibility towards a particular stakeholder group.
What are some examples of Corporate Communication?
Here are some examples of Corporate Communication under broad categories:
- Social Media
- Corporate Plan
- Annual Report
- News Letters
- Internal Newsletters
- External Newsletters
- Electronic Notice Boards
Frequently Asked Questions (FAQs)
1. What do you mean by corporate communications?
Corporate communication is how organizations share information with people inside and outside the company. It involves strategies to build a good reputation, keep employees informed, and connect with customers, investors, and the public. It helps organizations communicate effectively and achieve their goals.
2. What role does corporate communication play in crisis management?
During crisis management, corporate communication ensures that timely and accurate information is shared with stakeholders. It helps protect the organization’s reputation by crafting appropriate messaging and engaging with stakeholders. Corporate communication also assists in media relations and internal communication, keeping employees informed and addressing their concerns during a crisis.
3. How can effective corporate communication enhance employee engagement?
Effective corporate communication plays a crucial role in boosting employee engagement by promoting open and transparent dialogue. When organizations communicate in a clear and friendly manner, it builds trust and strengthens the connection with employees. By creating channels for two-way communication organizations foster a supportive and engaged work environment.
4. How does corporate communication benefit a company?
Corporate communication benefits a company by:
- Enhancing reputation
- Building strong relationships
- Driving employee engagement
- Improving customer satisfaction
- Supporting effective crisis management.
5. What are the key components of corporate communication?
The key components of corporate communication are:
- Channels and platforms
- Stakeholder analysis
- Branding and image
- Crisis management
- Evaluation and feedback
6. What are the 4 pillars of corporate communication?
The 4 pillars of corporate communication are
7. What is the role of technology in corporate communication?
The role of technology in corporate communication has been revolutionized by the coming of Information and Communications Technology (ICT). It provides tools and platforms for quick and widespread dissemination of information, such as email, instant messaging, and video conferencing. More importantly, it also protects sensitive data, confidential decisions, and proprietary information, preserving a competitive edge by keeping valuable ideas secure.