To stand out in today’s highly digital era, business owners must include corporate branding in any marketing plan. Consumers see an average of 4,000 – 10,000 ads daily, from social media to TV and outdoor ones. The only way to create meaningful connections with your target market is to stand out from dozens of competitors.
The fastest, most convenient way to differentiate your brand is to exert corporate branding efforts. Here’s why: a whopping 81% of consumers claim they need to trust a brand to make a purchase.
Read on to learn more about corporate branding — what it is, its advantages, and how to use it to make an impact in 2021!
What Is Corporate Branding?
Corporate branding is the practice of developing and growing a brand as a holistic entity. To put it simply, it is how a business presents itself to the world.
Corporate branding goes beyond selling a particular product or service and focuses on promoting a brand as a whole. This marketing branch involves every aspect a company shows its clients and stakeholders, including:
- Logo and graphics
- Product quality
- Packaging
- Service
- Distribution
- Pricing
- Digital marketing efforts
- Social media content
These factors must work together to create a reputation that can help a company achieve its goals.
Building a corporate branding strategy is a reliable way to achieve long-term success. Consumers who trust brands spend more and do not let pricing or availability hinder their purchase decisions. They also advertise businesses for free!
It’s the first step to achieving brand loyalty — which should be any entrepreneur’s goal. Applying the 80/20 rule on this principle would mean that 80% of revenue comes from 20% of loyal customers. On the other hand, 43% of clients who lose trust in a brand will stop buying its products.
The Advantages of Corporate Branding
Corporate branding offers many benefits, but we’ll focus on the three most important ones.
- Stand out: Corporate branding is what sets businesses offering similar products or services apart from one another. Using a groundbreaking strategy can help you tap your ideal clients.
- Introduce new products: A whopping 71% of consumers will support brands they know. The best way to reach new markets is to generate enough buzz amongst your target market.
- Enhance credibility: Corporate branding efforts can help you gain the trust of your customers, industry, and potential clients. Having a trustworthy brand will get you sales, conversions, and leads.
3 Steps to Build a Corporate Branding Strategy
Now that we’ve covered the importance of corporate branding, let’s go through three practical steps to develop a strategy.
- Define your target market: Before creating a strategy, you should determine who you want to impress. Find out everything you can about your ideal clients — location, age, gender, hobbies, interests, media habits, etc.
- Think of your unique selling proposition (USP): To stand out from dozens of competitors, communicate with your audience what sets you apart. Be as specific as you can.
- Craft your identity: The next step is to choose a personality from the following: excitement, sincerity, ruggedness, competence, and sophistication. To develop your brand, you should create a consistent look and tone across all your marketing efforts.
Differentiate Your Brand Now
No matter how amazing your product or service is, it won’t matter if consumers don’t know your brand. If your potential clients don’t know who you are as a company, it will be difficult for them to support you.
If you’re ready to differentiate your brand from a sea of competition, it’s time to create a revolutionary corporate branding strategy. Get in touch with us through [email protected] or (617) 671-9292 for a free, no-obligation consultation.
