Corporate branding is a much broader concept than product branding because it is focused on the attitude and spirit of a business and its reputation in the marketplace. It helps identify the distinctive selling point (USP) of a company and differentiates it from other businesses in the market.
Corporate branding offers many advantages, such as helping companies stand out from the crowd, increasing customer loyalty and decreasing the need to market. It also permits the extension of a brand’s name and recognition of new products as customers associate the products with a brand they know.
A clearly defined brand is crucial for any company. It can be employed for advertising, public relations, as well as employee recruitment. To ensure that the message of the company is effectively delivered, a strong corporate branding strategy requires an enormous amount of analysis and strategy.
It can be difficult to develop a corporate image for both small and large corporate marketing businesses. While the advertising agencies on Madison Avenue might have you believe that corporate branding was at its peak in the boardrooms filled with smoke and martinis, the emergence of social media and the internet has brought with it a whole new set of challenges that require a new approach. This is the reason why more companies are integrating their company brand with their communications, marketing and even their social and environmental responsibility initiatives.