Corporate branding is one of the most important aspects of a company/business marketing strategy.
It can be defined as the “process involved in creating a unique name and image for a product in a customer’s mind, mainly through advertising campaigns and a consistent theme.” It consists a number of tactics, process and guidelines that establish the identity and unique values of a particular company and its products/services.
Benefits of Quality Corporate branding
- Increased profit
- Returns in investment
- Increased share value
Guidelines to successful corporate branding
A good brand strategy, with the CEO or board members.
The CEO must be involved in the company’s branding process, as he/she should be passionate and approve of the branding ideas and objectives. The CEO should have a branding and management team, as he has other duties and responsibilities regarding the company to attend to.
Develop your business model.
It is important to develop a business model (from scratch) as other models, may not suit the company’s objectives or platform. Often times, when a business model is chosen not created, some adjustment are made to suit the business objectives. The company’s business strategy however has to be aligned with the business model.
Involve your customers and shareholders.
The business clients/ customer base, employees and stake holders should be involved through out the branding process. These bodies are more familiar with the business, and relate with them even more, therefore it is vital to give out information on what changes are going on in the company.
Consider Brand ambassadors.
Empowering individual to become brand ambassadors is an important action to be taken. People are the most valued assets a company has to achieving its objectives, and most times staying in business. Brand ambassadors are those who represent the company on a daily basis. They interact with other individuals, friends, family, or business partners. These interactions create business awareness to those who are unaware, therefore serving as a form of marketing. A good way of creating brand ambassadors is by creating forums, where the passions and objectives of the business are described, thereby creating new believers in your business manifesto.
Create an efficient delivery system.
The delivery of the right product service to the right customer or clients should be carefully created and implemented. Corporate branding is the image of a company’s stakeholders; therefore, it shows what people should expect.
Communication is key.
Effective communication from the board down to the receiving client/ customer should be made priority. Miscommunication can have a fatal effect on a company’s entire performance and outlook. A selective approach to communication is preferable. This is because of the complexity of the brand strategy, information that are immediately processed and understood should be passed on, in order to create effective communication.
Measure the company’s performance with brand strategy.
It is important to compare and contrast how profitable a brand strategy is to a company. The CEO and his team would have to consider these aspects before committing to a brand strategy and effectively running it.
Brand equity can be considered as part of your company’s goodwill. This refers to the positive feelings and remarks people have towards the brand “A brand score can help facilitate an overview of the brand equity”, and progress during implementation of the brand strategy.