Business environment is getting tougher with globalization. Enterprises need to stand out among competitors and the way to do it is to have unique and outstanding brand.
Branding is all about creating unique identities and positions for the company, products and services, distinguishing themselves from competitors. Although corporate branding is largely similar to product or service branding but it also elevates the approach a step further to involve the board of directors where corporate level issues such as investors relations, government, media, etc are considered. Hence it is no surprise that an effective corporate brand requires attention of top management.
Many misunderstood corporate branding as an exercise to design and develop the company logo, design style, color scheme etc. Corporate branding is definitely more than an updated marketing facade with empty jargon.
The corporate brand is the umbrella for enterprise’s activities and encapsulates its vision, personality, positioning, image and values among many other dimensions. For example HSBC has successfully implemented a great corporate brand as its slogan of “The world’s local bank” created a deep connection between the bank and the locals in many countries where it operates. The slogan portrays HSBC as a localized big bank and not a stiff institution which does not respect local norms. With this creative platform, it enables the bank to implement many localized products and services.
So how can you create a great corporate brand?
1. Understand current brand perceptions among customers, suppliers and employees.
2. Conduct competitors’ positioning research.
3. Develop your corporate’s mission, vision and values if this is not done.
4. Find out the brand positioning where there is least competition and yet resonates with your corporate strategy.
5. Develop your company’s slogan.
6. Conduct perception testing to ensure that your desired brand position and slogan are correct.
7. Develop or update your corporate identity kit if needed.
8. Conduct acceptance testing to ensure your new branding is popular with stakeholders.
To find out how you can create an effective corporate brand, you can contact us at email@example.com or +65 6681-6713.