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Value of corporate communications

iStock_ValueIn a world which is ever more connected and company profiles ever more visible, corporate communications are becoming ever more important. Though also consisting of internal communications between different departments, the main focus of this article is on the external side.

The most rudimentary element of corporate communications is branding and marketing. This is used to maintain the knowledge of the company and advertise its products. This can take several forms, from TV adverts (though expensive, they remain popular) to using social media and Google Ads. This type of communication is carefully planned and executed. Some large companies will have in-house teams to deal with these matters, while many will employ a third-party agency.

A growing area in corporate communications is corporate responsibility. In short, this can be understood as the way in which a company or business operates ethically. In modernity, many more people are taking an interest in the way something is produced; fair trade is a classic example of this. The communications department is responsible for making it clear to the market demographic the steps a company have undertaken to become more ethical and responsible.

One of the most unpredictable facets of corporate communications is crisis management. This is the damage limitation and response of a company in light of something negative. This could be a media story, government criticism, a new law or a failure in the product. Bad press can be damaging to the finances of a company and therefore, it is critical to respond in a fast, efficient and fulfilling manner.

The final element to corporate communication is not down to the perception the general public have of them, but the one that potential investors do. In this case, it is crucial that the company is seen to have not only a strong financial record, but also public support.