A business is not just an organisation; it is defined by the team it hires and works with. Like people have personal identities, businesses have corporate identities, and they need to strengthen these elements. Like a person, a corporate entity also has some attributes that define the brand.
Corporations like multinational companies and ventures are given a name and attributes so that their human audience can relate to the image and establish a relationship with the brand. The unique identity of the corporation is called its corporate identity. In this article, we can learn about the definition of corporate identity, its importance, and how to create a strong corporate identity.
The corporate identity puts the corporation on the map and makes it identifiable by the workers, the investors, and the audience of the company. There are many elements of corporate identity that together make the corporation and its image.
The three major elements of corporate identity are corporate communication, corporate design, and corporate behaviour. These elements have to be strong and well-coordinated for a strong and professional corporate identity.
The corporate identity is affected by the communication that the company does with its audiences. Corporate communication is the way in which the company interacts with its external and internal audiences. The image of the company, as reflected on all fronts of communication, should be a professional and strong one.
Handling corporate communications in a streamlined and impactful way is important because we have so many channels of communication today. The communication should be clear and connect with the audience. The internal audience will need a different kind of communication, and the external audience of customers will need a different kind of communication.
Internal communication includes guidelines about policies and processes, changes in the structure, or any kind of collective communication like newsletters. Internal communication is more technical and formal. It is important to maintain the professional nature of this communication so that the structure of the company is conserved.
External communication is aligned with external stakeholders like customers, suppliers, and leads. The external communication should be appropriate and simple so that the customers and leads connect with the brand. The external communication element also includes advertisements and promotional messages that go out to the audience. The communication that goes out also includes the messages sent to media people and investors because they also play a major role in deciding the image of the corporation. The average marketing budget allocated by companies to PR is 12.8 percent. This percentage is increasing because communications and relations decide the success of the brand to a great extent.
Corporate design is another important element of the whole brand identity and corporate identity. Like communication, the rules of design are changing, and a lot of importance is linked with the department across industries. The corporate design department deals with the visual identity of the corporation.
Visual identity is important because people connect with visual elements more than other elements of media. There are many visual aspects that corporate design controls. The tagline of the corporation, the logo design and the brand visuals going into marketing campaigns all make up the visual element of the corporate design sector.
The corporate design layer is an important part of the overall corporate identity. The logos, the theme colours, the fonts, and the website of the corporation are part of the corporate design element. The logo, the tagline, the colours, and the fonts should all align with the brand values and identity. The internal design of the communication materials like brochures, posters, and other things should also align with the larger picture of the brand.
The corporate behaviour element of the identity is the way the team interacts with the stakeholders. How the company behaves with its investors, its manpower, and its customers make the corporate behaviour of the brand. The ethics of the company, its professional sphere, and its complete disposition towards stakeholders make its behaviour.
The approach it has to hiring and letting professionals go, its behaviour and services to its clients, and the relationship it has with the investors paint a picture of its overall behaviour. The responsibility and accountability it shows towards its internal and external stakeholders and society also determine the parameters for its corporate behaviour.
The behaviour reflects in the reviews gathered from customers, previous employees, and stakeholders. If the stakeholders and society are supportive of the brand, then the corporate behaviour must be better than other brands. Corporate social responsibility that the brand takes up and its outcomes reflect the type of corporate behaviour it has.
Eighty-eight percent of customers say that they support such brands that are authentic in nature and impactful in society. A brand that has a strong corporate identity and presence in society will have greater authenticity to the message it spreads. These days, customers wish to connect with such brands that truly make a difference in their society and environment. Strengthening the corporate identity by actively working on its elements is therefore important.
By creating a strong corporate identity, the brand impresses not only its customers but also its investors and future prospects. A brand with a spotless corporate identity has a better reputation in the market than its competitors. When all the elements of corporate identity combine, the company is better placed in its market over other competitors. The brand successfully establishes a distinct identity in the market.
The brand experiences better brand awareness among the customers and the market while also creating an elevated market presence. The corporate identity, therefore, extends toward the overall brand identity and creates a strong brand. The brand is able to create a strong and stable user base.
The user base expands when the brand is consistent with its corporate identity, as new customers are attracted by its message. Moreover, the existing customers also have a higher level of trust and loyalty towards the brand and company. Corporate identity is, therefore, an important element of brand positioning.