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THE ECONOMIC TIMES BEST CORPORATE BRANDS SUMMIT 2016 ...

The essentials of a great corporate brand

Your corporate brand is more than just a pretty logo. If done right, your brand and your branding add direct value to the company and helps add newer customers to the fold with ease. Your brand is a sum of everything it does, and it represents the sum of people’s perception of a company’s customer service, reputation, advertising, the logo and so many intangibles. All of these parts need to be working well for a brand to be perceived well.

At the end of the day, it’s the way your brand makes someone feel about that separate the great brands from the also-rans. There are several components of a great brand that you should ensure your brand possesses.

Purpose

Do you know what you’re doing, or why you’re doing? Apple and Google can summarize their mission in a sentence or two, and having that defining purpose not only helps drive you on, but helps differentiate you from competition.

Consistency

In an effort to give your brand a platform to stand on, you need to be sure that all of your messaging is cohesive and consistent. After all, this leads to better brand recognition and customer loyalty since a commitment to consistency helps every element of your marketing work harmoniously together.

Emotion

Human beings don’t always use logic and rationale. If they did, Apple would be out of business! The emotional connection a brand has to its customers helps immeasurably. People have an innate desire to build relationships, to be closely connected to each other, to have a bond and belong. Connect to your customers on a deeper, more emotional level and you can strengthen your relationship and foster loyalty.

Flexibility

Flexibility is an essential for your brand to stay relevant in ever-changing times, but at the same time your adjustments have to still ensure your brand stays consistently true to its values. Making strategic enhancements to your brand can ensure it becomes stronger than ever.

Loyalty

Reward those that love your brand and everything it stands for, and that includes employees. Cultivating loyalty from loyalists and brand advocates has a domino effect on growing a base of loyal customers and of course profits as well.

Loyalty is a critical part of every brand strategy, and highlighting a positive relationship with existing customers can help potential customers understand what to expect if they choose to do business with your brand.

Measuring any brand’s success is always a tricky affair, especially so in our contemporary digitized economy where people increasingly believe in interacting with a brand. Brand managers today are challenged to come up with newer ways to build a long term connect with their consumers and they need to keep working to keep that emotional relationship intact.

The Economic Times Best Corporate Brands looks to recognize the most outstanding corporate brands that enrich our lives in their own way at a gala function on December 18th, 2015. To know more about this unmissable event.