Corporate Identity 101
With fairly seen in recent usage, the term “Corporate Identity” has become ubiquitous in the business world. Referring to the organisation’s commercial character, both its internal and external identity should align ideally. This allows for an organisation to stand out from the crowd and create a highly recognisable autonomous market presence.
A detailed summary:
First coined by US advertising professionals back in the ’70s, the idea has helped shape the identity of many businesses and organisations allowing them to reach their corporate goals. A strong corporate identity helps to shape its image both internally and externally. This identity and personality should be strategically planned to allow it to align with the company’s mission statement. Having a consistent corporate identity is critical to maintaining the company’s image to both its employees and the public. However, being consistent can be quite a challenge for many since it requires to pinpoint planning and execution. Some of the biggest names with a consistent and constant corporate identity are BMW and Coca-Cola.
It is very much a common business practise for businesses to come up with their own corporate identity that helps them to set themselves apart from the competitors. Building and gaining customer trust is yet another reason organisations and businesses aim for a concrete corporate identity.
Having a clear and well-defined corporate identity allows businesses and brands to raise awareness and impact the market. This also helps to strengthen commitment resulting in greater brand loyalty and customer retention. As an example, a brand with a consistent corporate identity while launching a new line of products will have no difficulty in reaching its customers since the existing positive brand image is highly transferrable resulting in newer initiatives. This helps to reduce the cost of marketing and advertising.
Being one of the cornerstones in positive corporate culture, a strong corporate identity is crucial for a good company image. Within the business premises, having a strong corporate identity helps to keep the workforce in check which helps to exemplify the company mission statement.
There are three tools in total that must be interlinked to properly manage and scale corporate identity. Each of these tools, by itself, has the power to influence the overall impression of the company. In order to establish a strong corporate identity, it becomes critical that these tools do not conflict or contradict each other, therefore, requires strategic planning. The tools are:
The aim of having a strong corporate identity helps businesses to have a clear profile. By embracing to enhance all kinds of company activities ranging from the language and style used to communicate with customers to the conduct of the leadership, defining standards of service and working practices becomes very well defined. Having a corporate identity is not only limited to how the company is perceived by the pubic, it also encompasses internal relationships. With the goal of standing out from the crowd, a concrete corporate identity should be carefully planned and implemented.
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