Corporate branding is a wider concept than that of product branding, since it focuses more on the mindset and character an organization has and its standing in the market. It helps in identifying the distinctive selling point (USP) of a company and distinguishes it from competitors in the market.
Corporate branding can bring many advantages, such as helping companies stand out from the competitors, boosting customer loyalty and lessening the need for marketing. It also allows for the expansion of a brand and identification of new products over time since customers associate the products with a well-known brand.
A well-defined brand is essential for any company. It can be employed for advertising, public relations, as well as employee recruitment. To ensure that the message of the business is effectively delivered, a strong corporate branding requires lots of thought and strategy.
Developing a corporate brand is a challenge for small and large companies alike. While the advertising agencies on Madison Avenue might have you believe corporate branding peaked in the smoky boardrooms with martinis, the datarooms advent of social media and the internet has brought with it a whole new set of issues that require a new approach. This is why more companies are integrating their corporate brand into their marketing, communications and even their environmental and social responsibility initiatives.