The Small Business Mistake
Many small businesses and startups make the mistake of overlooking branding since they consider themselves as an entity that provides service and not a mere brand label. Brands, they assume, are the big fish in the pond with substantial budget plans and national recognition. Surrendered to their expected small-fish condition, small businesses do little more than generate an enjoyable logo as well as some fancy business cards.
However branding is very important for organisations of all sizes since it increases their value, offers staff members instructions and inspiration, and makes acquiring new consumers easier. Additionally, with increasing costs of marketing a new product or service, it becomes it critical for a company to come up with an efficient strategy to promote its business. Companies that utilize branding can bring out their message more effectively and efficiently.
With a strong branding strategy, a business is able to establish to the consumers immediately the unique value of their product or service such as credibility and high quality. This is why creating a powerful brand and protecting it is critical not only for large businesses but for any business serious about its goals.
Corporate Identity vs Corporate Branding
It is important to note that branding is not the same as corporate identity. Corporate identity is the image of a company manifested in the company’s logo, product packaging designs, media advertisements and etcetera.
True corporate branding involves those processes but, at the same time, it also incorporates other strategies such as investor and media relations. Corporate branding requires the participation of not just the marketing group but top management as well. Corporate branding involves the company’s values, philosophies and culture.
Hence, the critical ingredient at this point is the companies overall strategic business plan. It is in the business plan that companies spells out the overall direction, goals, vision, approach and priorities. Thereafter, every action and reaction, every communication, every presentation and every thought process should revolve around achieving that plan. It takes a lot of research and time, but that eventually creates the overall “character” of the company. Now, that is corporate branding.
Corporate Branding vs Product Branding
Perhaps it may be too soon for you to look into your corporate branding. Perhaps you are still trying to navigate around your new business and you are trying to figure out what works and what doesn’t. In this case you might want to focus more on your product branding.
When we talk about product branding, we are talking about the marketing of a specific product without making the focus of the marketing the company. The product is at the front and center of all advertising and marketing campaigns, and the company brand is only incidental to it.
Take a popular product and company in this case: Oral-B and Procter and Gamble. We all know Oral-B’s broad range of oral hygiene products. Oral-B has a dedicated website and social media pages. It has its own logo and symbol, not to mention advertising taglines and slogans. The parent company, Procter and Gamble, is
rarely ever mentioned anywhere in the product except perhaps obscurely on the label.
But notice that throughout the years, the message, look, colours, and overall “feel” of Oral-B has remained consistent. People know what Oral-B is and what type of ads that they create. It always gives the clinical look to their ads, thus giving impression (and recall) that Oral-B is “recommended by dentists”. That is an effective employment product branding strategy.
A company, whatever size, will be successful in its branding efforts if through time it will continually invest its resources and ensure consistent delivery of its business message in all level of operations– whether the message is commitment to customer service, innovation, or values like perseverance or integrity. Branding allows businesses to be competitive by leveraging its unique business values and approaches in order to create brand awareness and loyalty among consumers.
If you are looking to understand more about the different types of branding for your company, feel free to drop us a message!
Armen Rizal Rahman