Corporate branding is the practice of using a company’s name as a product brand name. It is an attempt to leverage corporate brand equity to create product brand recognition. In simple words, corporate branding is the process of establishing name and image for your business.
I believe that corporate branding surely helps to establish a name for your company’s product or service. Corporate branding is very important to all business because without creating a brand image, you can quickly out of the minds of your target segment. For example, some of the companies are remembered because of their logo or image like Nike. The first thing comes to your mind when you think about Nike is “check mark and just do it tagline”.
By creating brand image, it will also help you to spread news about your business or company’s product. Most of the times, consumers remember company by their logo and not the name of their businesses. I hope by this far, you come to know that corporate brand is a key to a successful business and how much important it is to keep your business in a long run.
So, in this article, I am sharing 8 important steps for creating successful corporate brand strategy.
1) CEO and Brand Management team : Every branding strategy must start from Board room and led by the CEO with brand management team and senior officials of the company. It would be great if you hire any professional branding agency and involve them in your meeting.
2) Choose perfect business model or build your own : Business Model is the backbone of branding strategy. So, it is important to choose the best model for your business or build your own. Because every business has its own needs and working culture, therefore, it is best to build a business model which perfectly balances your company’s need and values.
3) Listen from stakeholders and act possibly : Stakeholders are our Customers, Employees, Share-holders, Trade Partners, Industrial Commentators, Opinion Leaders and Interest Groups. They know the best about the company, so listen them accordingly and act possibly. This will help you to create a transparency within the company and outside the company.
4) Always look for new technology : World is changing every minute so as the technology. So, it’s important to keep pace with the changing technology because technology plays a vital role in successful corporate strategy. Keep your company’s infrastructure updated with the latest technology which will always give you extra edge above your competitors.
5) Inspire employees to become brand ambassadors : If you give training to your employees about the company brand strategy, e.g., vision, mission , values, work culture. They can be the best brand ambassadors of your company. The only thing is to clear company goals, aims and future plans to make your employees believe.
6) Make lifelong customers : Always make sure to take proper care of customers expectation. The successful corporate branding is when you keep up the promises you made with your customers. So, always ensure to provide them the best product or service. After-sales service is also very important after you are done with product sales.
7) Communication strategy : Communication strategy is very important when it comes to create successful corporate brand image. So, always execute well-planned marketing strategy which is relevant, simple to understand to your target segment.
8 ) Check performance of your brand : Brand equity always play an important in checking performance of the brand. It refers to the marketing effects or outcomes that add to a product with its brand name compared with those that would add if the same product did not have the brand name. The study of brand equity is increasingly popular as some marketing researchers have concluded that brands are one of the most valuable assets that a company has. Brand equity is one of the factors which can increase the financial value of a brand to the brand owner. So always keep track on performance of your brand time to time.