With millions of businesses behind your backyard and a new business popping up everyday, how will you differentiate yourself from the competition and stand out in this incredibly huge market? Following the footsteps of giant corporations, one of the most crucial task you must complete is building your brand around a corporate identity that customers will remember.
Your corporate identity is the logo, look, style, and guidance of a common operational philosophy that exists within your business. It’s what your business use to make a visual statement to the world. It’s essentially placing a face to your business name. It’s hard to remember names, but very easy to remember faces.
Imagine a bakery. Samantha’s Bakery. A small mom-and-pop shop that specializes in signature desserts. In one scenario, we create a classic sign with simple text: “Samantha’s Bakery.” Alternatively, we create the same language dancing over their signature sapphire and diamond cake monogram. Which would you remember? Chances are your memory will follow your taste buds, and you will likely remember the cake.
Everything the business does from operations to ethics, will inevitably become part of its branding strategy and how consumers perceive you. Having an identity is only the beginning when it comes to brand development. You must remember to create your brand story, thereby having clear messages and delivering experiences which are aligned and consistent with your organizational goals.
Businesses that consistently enforce the style and usage of their corporate identity will further push it to become a strong operational tool. Being consistent and clearly marking themselves as a trusted brand can bring increased revenue from returning customers.
In a research conducted by WPP agencies, it was found that businesses with weak brand identities had very little growth in raising their revenue and financial stability (over ten years) from 21% to 27%. On the other hand, a business with a strong brand identity in the same 10-year span, that exhibited a precise and consistent branding strategy, grew revenue from 76% to an amazing 168%.
Corporate identity development has a lot to do with the 3P’s of marketing – delivering purpose, potential and promise of the brand – to satisfy the needs of the consumers.
A strong corporate identity is one that is timeless. It is one that can live for years and when the time comes to update and align it with new corporate goals, it can continue to survive with very little-to-no changes to its design. Your business will only be as powerful as the amount of time and attention-to-detail that you put into its marketing efforts.
If you would like to explore the options of developing your own corporate identity for a new or developing business, please give us a call at 214-702-5436. Let’s grow together.