Nowadays, competition is intense, and survival in the market calls for more innovative marketing strategies. Corporate branding is one such strategy for those who want to survive the battle. Focusing on products alone, without powering the brand, leaves an organization venerable according to marketing experts. Companies with perceived positive image remain the curve. Corporate branding is the science and/or art of adding human life to, otherwise lifeless organisation and ensure that it remains in touch with stakeholders and society in general. It is a phenomenon of defining and reinventing the organisation to make it stand out in the face of environment it operates. Corporate branding London is important because of the following:
1. Cultivates brand loyalty
A corporate brand builds consumer confidence, and customers can associate with the company at length. It creates a healthy stream of revenue through brand loyalty and referral business. Research says that your brand stays “in the hearts and minds of customers.” This happens in both product retail environments and service delivery circles.
2. Strengthens brand awareness
Effective corporate branding creates the indelible image in the minds of customers, marketers, and stakeholders. It includes customer service, brand outreach, packaging and advertising of products and services to appeal to a broad clientele.
3. Enhance service delivery
Corporate branding instills a sense of responsibility in the employees by creating an organizational culture. This indeed, translates into actual service delivery. A corporate brand demonstrates shared values, vision, mission and objectives that have a positive mark on the bottom-line of the firm.
4. Powers Marketing
Branding fuels marketing efforts and propel it a notch higher. To exploit the targeted segment corporates should not focus on name and logo alone. Instead, they should have proper web design, corporate colors, theme and public relations on media. Branding may be a tip of the marketing iceberg but is a primary activity in modern corporate organizations.
5. Enhances Corporate Communications
The social and digital revolution has revolutionalised communications and brought to the spotlight companies brands. Through social media and the web, corporates find themselves in the front line and it is upon them to convert the exposure to opportunities. In the 21st-century companies, corporate communications department is, therefore, more open. Companies want a voice in dialogue in society so that they can communicate their values and vision. Astute managers tactically use corporate events sponsorship to reach a vast number of consumers.
6. Survival and growth
Corporate branding involves setting a long-term outlook of the company and thus can maintain market leadership. When companies build strong brands, they can survive mergers and acquisitions. Powerful brands like Barclays have managed to cushion from market shocks through strong branding and reputation management.
While corporate branding requires a proportion of the budget, successful branding saves a great deal of money. This is because; a single investment in branding can save huge sums of advertising campaigns in future. The promise of an innovative brand can avoid subsequent marketing budgets for similar products as clients associate the goodness of the results to parent brand. Every responsible organization should enhance corporate branding strategies to achieve a return on investment.