Benefits of IMC
Although Integrated Marketing Communications requires a lot of effort it delivers many benefits. It can create competitive advantage, boost sales and profits, while saving money, time and stress.
IMC wraps communications around customers and helps them move through the various stages of the buying process. The organization simultaneously consolidates its image, develops a dialogue and nurtures its relationship with customers.
IMC also increases profits through increased effectiveness. At its most basic level, a unified message has more impact than a disjointed myriad of messages. In a busy world, a consistent, consolidated and crystal clear message has a better chance of cutting through the ‘noise’ of over five hundred commercial messages which bombard customers each and every day.
IMC saves money as it eliminates duplication in areas such as graphics and photography since they can be shared and used in say, advertising, exhibitions and sales literature. Agency fees are reduced by using a single agency for all communications and even if there are several agencies, time is saved when meetings bring all the agencies together – for briefings, creative sessions, tactical or strategic planning. This reduces workload and subsequent stress levels – one of the many benefits of IMC.
Challenges of IMC
Across the globe, there is continuity in market deregulation and emergence of individualized segmentation of consumer tastes and preferences. So IMC being not an easy process has to face internal as well as external challenges. As some markets flee traditional media they still come across some communication clutter. The challenges of IMC are.
- A shift in market place power from manufacturer to wholesaler to retailer/shift in channel power.
- A movement away from relying on advertising focused approach.
- Rapid growth of data base marketing.
- A shift in traditional promotions.
- Change in the way the advertising agencies compensated.
- Rapid growth of internet marketing.
- Growing competition in relationship marketing.
- Change from mere information delivery to value delivery.
- Consumer empowerment.
- Fragmentation of media.
- Increasing advertising clutter.
- Desire for greater accountability