If you thought corporate identity simply corresponds to a compelling tagline, a well-designed logo or a striking brand name, you are absolutely wrong.Great branding does not just end at these three branding stakes! The corporate or brand identity of a business defines how customers relate with and think about the brand. As part of their creative advertisingefforts, businesses need to understand corporate identity and identify how important it is for their branding efforts.Brace yourselves for the four groundbreaking facts on corporate identity most startups fail to acknowledge:
1. Corporate Identity Is the Core of Corporate Existence
Sounds hyped? Well, it isn’t! The general ‘not-so-correct’ perception of corporate identity is that it is a collection of visual elements that are used throughout brochures, pamphlets, websites and anything and everything else that is used to promote a business. Corporate identity is believed to be more of a visual identity rather than a strategic branding resource.However, there’s more to it than just visual identity. The corporate or brand identity of an organization determines its position in terms of its competitors and markets. It reflects the history, philosophy, beliefs, cultural values, and technology of the organization and its workforce.
2. Consistency Is the Key
A good corporate identity can only be established when there is consistency in design throughout the organization’s lifetime. Simply put, one DNA should run throughout all elements and marketing collaterals that form the creative advertising mix of a company. Corporate identity is indefinable.To articulate its multidisciplinary nature, academics from the Strathclyde, Harvard and Erasmusbusiness schools came up with the ‘Strathclyde statement’to describe corporate identity, which states that –
“Every organization has an identity. It articulates the corporate ethos, aims and values and presents a sense of individuality that can help to differentiate the organization within its competitive environment.”
The ethos, aims and values of an organization do not change with time. The same applies to its corporate identity. However, while it’s vital to ensure consistency over time, it does not necessarily mean that the corporate identity of a company shouldn’t evolve. Most major brands constantly tweak their brand logos and designs to stay with the times and to reflect their technological advancements. However, their overall look and feel stays consistent over the years.
3. Corporate Identity Is a Differentiating Weapon
All businesses are there to make money. What makes your business any different? An essential aspect of branding and creative advertising is to let people know what sets your business apart. Anybodycould tell you this! But not many would tell you (or know themselves for that matter) that a competently designed corporate identity will place you as one of the most racing contenders in the marketplace! By generating a strong visual image for your business, you can ensure that quality and excellence percolate through everything your business does. It sets you apart from competitors in the marketplace as a player to boot, not to mention the great recall value your brand will enjoy.
4. A Great Corporate Identity Helps Bring In Investments!
Yes! Not many would know but it’s true! A great corporate identity put forth by a strategically devised creative advertising campaign clearly defines the objectives and ethos of an organization.It helps draw venture capitalists, investors and funders, increasing the changes of taking your business to new heights.
Before approaching branding companies and creative advertising agencies for developing your corporate identity, make sure you have clearly defined your organization’s ethos, values and objectives for yourself and your employees (and don’t forget to communicate the same to the branding agency!). Only then will it be possible to stitch these into a competent and compellingly designed corporate identity.