Corporate branding is the act of creating a name and reputation for a business, rather than for its products or services. It’s a broad subject that encompasses a great deal, from basic logos and design. It also impacts all the way through to company culture and values. There are several things to consider for business owners when creating a brand, and a few essential steps to take to ensure success.
With this in mind, here’s how companies use corporate branding the right way in the big battle for market position. The strength of a business’s brand can often be the difference between success and failure. So it’s vital to get it right. Read on to find out more.
Define your company
First up, corporate branding should clarify the following things: who you are, what you do, why you do it, and who you do it for. Not only that, but you should be able to get that message across quickly and succinctly.
It’s often these seemingly obvious points that most businesses fail to get right. It can often result in failure or, at best, obscurity. For inspiration, take a look at the world’s biggest brands. They all have an eye-catching brand identity. It’s clear what they are all about.
Differentiate your business
Great corporate branding also defines how a company is different to the others in the same industry. Success means being able to explain that differentiation clearly, and put it in a positive light – not to use it to slate rival companies.
As a business owner, you should consider the value proposition of your company. Perhaps you are the cheapest, or maybe you offer a more luxurious approach than the competition. Do you have stats that prove you are the best performers in your sector, or can you deliver your products within a particular time frame?
As an example, imagine a small town with competing pizza delivery companies. One markets itself as a standard delivery service, but the other promises to deliver within 15 minutes. Now, if you want to place an order for a pizza, which has the strongest brand differentiation? The ‘15-minute Pizza Promise’ or the ‘Pizza As Soon As We Can’? You level of success will be dependent upon the power of your corporate brand message.
In the past, big corporate brands could often be accused of being dull, drab, and boring. In recent years, however, things have changed a great deal.
There are companies like LinkedIn, the Weather Company, and ESPN, for example, who have created mini campaigns using custom ugly Christmas sweaters. Lee Jeans rebranded with their lighthearted ‘Move Your Lee’ campaign, and there’s the Old Spice rebrand to consider, too. Their pivot from old man’s bathroom products into something altogether more manly, and respectable through humour is a turnaround of epic proportions.
The point is, all these companies realize that consumers prefer a more human approach to branding, marketing and PR these days. The rise of social media is likely to be a key driver in this change. And if you want your brand to be more appealing to consumers, being more human is a great approach to take.