Corporate branding to attract new customers

Every business has a visual identity and that brand can be a valuable asset, which is why it's essential to have the right corporate branding to help you attract new customers.

"It's like a bank account for your customers' goodwill," says Andrew Baker of Seamer Design. "As your credits and balances for the good and bad experiences contribute to your goodwill, your balance at the end of the day is either spiralling upwards or draining out the bottom." 

Reasons for corporate rebranding

There are often obvious indicators that a rebrand is necessary: steadily declining profits, customer dissatisfaction or apathy and competitors going out of business.

These indicators may represent deficiencies in your services or merely indicate that the market has moved on. Your corporate identity may be dated, unrepresentative of the services you offer or merely over-familiar within the market.

The lifecycle of a brand

Andrew suggests that every brand has a natural lifecycle: 

• Birth: Fresh corporate branding generates curiosity from the general public.
• Growth: Initial awareness results in consumers adopting your brand.
• Maturity: The point where your corporate identity has widespread recognition.

Following widespread recognition, consumers can become indifferent to your brand or accumulate negative associations. It is then that their attention needs to be regained and positive associations made.

A quick refresh?

It's possible to resurrect a stale brand with minor updates, which is obviously a less costly option than a complete overhaul. 

But a corporate identity still needs to be applied consistently across many different media. "Doing it on a cosmetic level can often cost as much as doing it on a much deeper level," says Andrew.

Auditing your brand

When charged with rebranding, designers will conduct a brand audit, analysing how your business's goals are reflected in your current corporate identity.

Then they will ask: 

• Where is your brand situated in relation to the market?
• Where is your industry headed?
• Where does your corporate identity need to be to catch up?

Every business will have different priorities. Once these are established, a designer will work with you to provide the strongest identity within your industry.

The bottom line

An update of your corporate branding will cover the basic communication items: 

• letterheads
• compliments slips and business cards
• corporate and product brochures
• websites.

At the cheapest level, Andrew suggests that rebranding these items would cost around $10,000. Businesses also need to consider other assets that may need to be updated, such as signage and vehicles.

Is rebranding worth it?

"Companies can become obsolete compared to their competitors who are rebranding," Andrew says. "You need to stay relevant and interested in the outward perception of what your business model offers."

Contact the brand experts today to see how new corporate branding can help your business reassert its market share.