We’d all agree that today’s consumers have a fairly limited attention span and this makes corporate branding and the need to keep your brand relevant all the more important.
Audiences are constantly bombarded with brands, information, images so you really do need to have a strong corporate brand strategy to determine where you are heading, and why. We can all name brands that have become synonymous with our everyday life – Nike ‘Just do it’, Qantas ‘the flying kangaroo’, LG ‘life’s good’ – to name just a few and the reason we relate to them, recognise them, all comes down to their strong branding.
More than 90% of buying decisions are influenced by visual factors
Corporate branding is often a combination of a trade name, a logo, a slogan and even certain colours – think the Cadbury purple, the Napisan pink or the Coca-Cola red. With the right branding your company can be recognisable without your company name even being visible. With strong corporate branding your audience can get to know your services, your products and even your business just through your logo or slogan.
Colour increases brand recognition by 80%
All businesses, even small businesses, should not underestimate the power of creating, building and developing a corporate brand – it’s one of the most effective methods of advertising and marketing available to businesses.
Top 5 reasons why corporate branding is so important:
– corporate branding ensures that your business has a strong identity and a face to your business. A strong brand will be recognisable when only one of its branding elements is seen.
– a well-developed, relevant corporate brand will display your business as more professional, successful and polished. Other companies will want to do business with you, and customers will want to buy from you.
– customers and clients find it more comfortable to relate to a brand which is why a strong corporate brand will help you to build customer relationships.
75% of buying experiences are based on emotion.
‘People don’t buy for logical reasons. They buy for emotional reasons.’ – Zig Ziglar
– Being a vehicle to share your values, a corporate brand is something that customers can learn to trust and rely on. Both short term and long term, the trust that your brand builds will ensure that customers continue to do business with you and therefore impacts on your business’ success.
– when your business provides a quality product or service in combination with a strong corporate branding strategy, your brand will become known as a quality brand too.
– strong corporate branding will add value and saleability to your business. Companies with solid branding are often bought, not for the assets that the business owns, but for the brand and what it stands for.
A stronger corporate brand image will boost your stock price by an average of 5-7%
Corporate branding can set your business on the path to long term success, which is why it is crucial for all business to invest in creating a strong brand people can relate to and a clearly defined corporate brand strategy to help you to achieve this.
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