Before we tackle this question, let take a step back and define ‘Corporate Branding’.
“Corporate branding refers to the practice of promoting the brand name of a corporate entity, as opposed to specific products or services. The activities and thinking that go into corporate branding are different from product and service branding because the scope of a corporate brand is typically much broader.”
What is corporate identity and branding?
Although often, the two terms—brand and corporate identity—are used interchangeably, they are two different concepts. While branding can be defined as relating to the emotional relationship between a customer and a business, the corporate identity is all about the look and feel of the business.
Why is it important?
Corporate branding helps customers relate to a business and identify a wide range of product offers over time. Effective branding minimizes the need for extensive marketing initiates for every new product as the consumer has a pre-set understanding of the product’s quality, reliability and purpose.
What has changed now?
An honest answer is everything and nothing. We are in a transition stage where businesses may want to go all out on branding or may take a passive route. Whichever way it pans out, there is an unmitigated need for a sound corporate brand. A brand is not just the identity of a company. Still, it carries the weight of its reputation, quality of deliverables and persuades its targeted audience to partner with it for receiving the benefit of its products, services and solutions.
Owing to that, a brand with a strong market presence among its internal and external stakeholders will be the top businesses that will benefit from the same brand patronage and loyalty experienced in the pre-COVID phase. To reinstate the brand value among the customers and partners who may or not have turned away from following your brand, you are required to ramp-up your branding strategy.
What can companies do now?
Given the delicate nature of the situation, and at the disadvantage of sounding desperate or insensitive, the choice of branding commodities will make a world of difference. One of the ways to reach your stakeholdershumanely is to approach them with what they need to survive and not to thrive. Remember, we are still in the transition stage. Example, Varada has a complete line of products in the COVID Essentials and Healthcare/Wellness category. Here the intent is to offer support and help. That’s how you win back your clients and trusted partners.
What should you do now?
Head onto www.varada.ooo. If you are reading this on our website, jump to SELL ON VARADA if you are a VENDOR looking to sell your products to Varada’s customers or jump to REGISTER and sign up as a CORPORATE CUSTOMER to unlock the storefront of India’s largest B2B eCommerce store. Purchase bulk products at exclusive prices and build your brand presence like a boss.