Creating a successful, recognised parent brand requires a clear understanding of your company’s vision and values. It's sometimes easier to define individual product brands; corporate branding can often remain unclear.
A corporate brand should bring all products under one roof with a shared purpose and mission. Done well and the corporate brand should be as successful as its individual product launches. The importance of corporate branding stretches further than the customer viewpoint. Good corporate branding should also extend to how employees feel about the company and how they define their roles within it.
Corporate Branding Definition
Corporate branding is the practice of promoting a corporate identity under a brand name. The scope of this is broader than product branding because a corporate brand must reflect company values and represent all brands under the umbrella. Modern corporate branding is so much more than simply choosing a company name and logo. We know that purchasing decisions are made on emotion, so a corporate brand needs to influence that and tell a unique story.
What are your corporate brand values?
Corporate branding objectives include creating an agreed vision, corporate brand aims, and a road map on how this can be achieved. It benefits to evaluate your company's strengths, weaknesses, opportunities, and threats by performing a SWOT analysis. Define exactly who your target market is and how they are currently being communicated to. Research the market well, including your competitors and any potential gaps. Your corporate branding objectives should also be measured to ensure that you can track progress efficiently.
5 Benefits of Strong Corporate Branding
Here, we outline 5 advantages of corporate branding:
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Creating Brand Awareness – In a sea of competitors, having a clear corporate image is crucial. Gone are the days of creating a broad corporate branding strategy; choosing a niche and ensuring that you're talking your customer's language is now far more important.
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A Competitive Edge – Having a corporate brand which your target market can identify with is what sets you apart from your competitors. As your brand recognition and loyalty grows, your corporate brand and individual products will elevate, giving you a competitive edge.
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Employee Advocacy – If your parent brand has clearly defined mission statement and employee guidelines and this is reflected in your corporate branding, your employees are far more likely to feel connected and advocate for the company. Employees tweeting positively on their company’s values can supply an organic way of marketing the company and retain valued staff.
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Creating Brand Loyalty – A strong corporate identity will attract customers and later maintain loyalty. A repeat customer is much cheaper to market to. Winning the hearts of your customers is the key to effective long-term sales. If a customer feels associated with the corporate brand, this will positively affect individual brand launches.
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Successful Product Launches – With a strong corporate brand, you can build on this sturdy base when launching new products. With an existing loyal following, you already have a captive audience and this can make the introduction of new products more cost effective to market to. Clients might even hotly anticipate new releases!
Corporate brand credibility lays the foundation for expansion with a clear vision and objectives. This is not only an outward-facing exercise, a strong corporate brand will also have the support of loyal employees who advocate for the company. Creating a successful corporate culture is key to good branding, allowing employees to advocate for the company naturally.
When you understand your target market, you are ready to create a solid corporate brand. Be clear on your brand objectives and you’ll see a swifter return on investment and long-term sales for years to come.