At the beginning of last year, it was estimated that there were over 5.2 million businesses in the UK alone. It is, therefore, essential that your business stands out from the crowd for you to achieve sales, profit and success. One of the main ways your business can show how it is different is by the way it markets itself and having a clear brand identity for both products and services is very important. However, strong branding is not just limited to the marketing of products and services, but also applies to the wider business. An effective Corporate Identity will minimise the need for massive marketing initiatives for every new product as the potential customers will already have an understanding of the companies quality, reliability and the purpose its products have.
So, how exactly does having a strong Corporate Identity help your business?
Personality. If you have a robust corporate identity, then your business personality will be clearly defined. The identity you create for your business will make it clear what types of employees you want, how your products should look and feel, and how your product packaging should look, etc. All these things will work together to give customers a great understanding of what your company is, and what it stands for – for example, is your company reliable or compassionate or energising? These are all human like qualities that people can relate to and therefore they will have more of an emotional attachment with that brand. This should then lead to an increase in customer loyalty, increased profits and fantastic word-of-mouth advertising.
Planning. When you are thinking about defining your corporate identity, then this will focus you into creating a long-term marketing and product plan to achieve consistency throughout your business. This multi-level focus, encompassing both the day to day activities of your business while also considering the future, will help you guide your employees activity and drive the whole company towards achieving the shared vision. The point of a strong corporate identity is that it not only influences customers but everyone within the business too.
Identity. The physical identity and characteristics that you use – such as your logo, imagery and colour scheme – will all help your employees and customers instantly recognise your company and anything connected to it (such as products and services). Your corporate identity will also help you keep product lines and markets more consistent and ensure that customers can easily pick out your product from a sea of other similar products. Strong corporate branding can help keep your company stuck in the minds of consumers.
Targeting. A successful corporate identity will allow your marketing team to target the correct segments of society more easily when they are launching new products or offers. Your corporate identity should take into account socio-economic factors, geographical factors and lifestyle factors. The branding used in product marketing enables customers to select the right product for them based on their exact needs and wants.
Market Share. If you are considering entering new markets then having a strong corporate identity will make this so much easier as your brand will already be established. A strong corporate identity paired with a quality product can easily infiltrate a crowded marketplace, take market share and help to increase your company’s profits.
To find out more about corporate identity and how reform can help you strengthen yours check out our website at www.reformcreative.co.uk, tweet us @reformcreative or drop us a line on Facebook/reformcreative.