Corporate communications is the process of building and maintaining relationships between a company and its stakeholders. It encompasses various channels of communications such as public relations, advertising, internal communications, and social media to convey the company’s message to its stakeholders. In contrast, product communications focus solely on promoting specific products or services. Unfortunately, many Iranian businesses have been neglecting corporate communications, which is a critical aspect of their success. In this article, we will explore why corporate communications is a missed part in Iranian businesses, the difference between corporate communications and product communications, the importance of building a corporate communications team that includes a PR Manager, Digital Marketing Manager, and Internal Communications Manager, and the importance of choosing a professional and experienced agency to handle this critical aspect of the business.
Corporate Communications vs. Product Communications
It’s important to first note the difference between corporate communications and product communications. While product communications focus solely on promoting specific products or services, corporate communications are concerned with the company as a whole. Corporate communications involve the strategic management of a company’s reputation, image, and relationships with stakeholders, including customers, employees, investors, and the public. It is a holistic approach that considers all aspects of the company, not just its products or services. It includes Crisis Communications as well, which can damage the company as a whole severely, or humanitarian activities of the company which can be led by different concepts e.g. Corporate Citizenship, Creating Shared Values, or the routine concept of Corporate Social Responsibility.
The Risks of Neglecting Corporate Communications
Neglecting corporate communications can lead to various problems for businesses. Firstly, it makes the company vulnerable to weak signals (the incidents, issues, or anything that has the potential of making a crisis for the company), making the management unable to identify the weak signals, stopping it to become a crisis, and at the end unable to manage the crisis. It can damage the company’s reputation and relationships with its stakeholders, including customers, employees, investors, and the public. Lack of communication can create misunderstandings, mistrust, and a negative image of the company in the minds of its stakeholders. This can lead to decreased customer loyalty, employee satisfaction, and investor confidence, ultimately affecting the company’s financial performance.
Secondly, neglecting corporate communications can lead to missed opportunities for the company. Effective corporate communications can help businesses to create a strong brand identity, differentiate themselves from competitors, attract and retain customers, and enhance their reputation. Companies that neglect corporate communications miss out on these benefits and may struggle to stand out in a crowded market.
Building a Corporate Communications Team
To effectively manage corporate communications, businesses should build a team that includes at least a PR Manager, Digital Marketing Manager, and Internal Communications Manager, while a CSR/CC/CSV Manager, and other positions can be added as well. These roles are critical to ensuring that the company’s message is conveyed effectively and consistently across various channels. A PR Manager can manage the company’s relationship with the media and other stakeholders, while a Digital Marketing Manager can manage the company’s online presence and social media channels. An Internal Communications Manager can ensure that the company’s message is effectively communicated to its employees, who are critical stakeholders.
The Importance of Choosing a Professional Agency
While building an in-house corporate communications team is important, many aspects of this part of the business cannot be handled easily and professionally by an in-house team. This is where a professional corporate communications agency can come in. A professional agency can provide the expertise and resources necessary to effectively manage a company’s corporate communications. They can handle everything from media relations and crisis management to branding and marketing, freeing up the company’s internal resources to focus on their core business activities. We will cover this part of the business in our next articles.
In a nutshell, let’s wrap this article up with a brief explanation. Corporate communications is a critical aspect of any business, yet many Iranian businesses have been neglecting it. Neglecting corporate communications can damage the company’s reputation, relationships with stakeholders, and ultimately affect its financial performance. Building a corporate communications team that includes a PR Manager, Digital Marketing Manager, and Internal Communications Manager is critical to effectively managing corporate communications. Additionally, choosing a professional and experienced agency can help businesses to effectively manage this critical aspect of their business.
P.S. The image used here shows a notable example of a perfect Corporate Communications. PGt managed ABB initial corporate activities when came back to Iran by JCPOA. One of the first actions it took back in those days was meeting with its important stakeholders including the embassies, also their most important former clients.