Conventional wisdom tells us branding is for external communication ant it aims to influence current and prospective customers. But this view of branding is too narrow. Branding should (and is) used on a large scale in order to attract and retain talented people in your company. Actuals and potential employees are also part of the branding target.
Several surveys have been done to identify various corporate attributes which will attract talent. Here is a condensed list of 10 most popular (brand) attributes and are listed below in the order of their popularity. Continue reading
“Brand loyalty will diminish as the defining metric of success. Marketing strategies will become more varied. Some brands will be so strong that they will exist independently of specific products and services. Other brands will make a splash and then disappear. And a new kind of ‘generic’ brand will emerge: not bland, low-priced generics but anonymous, unmarked — yet highly stylized — products that are meant to take on the identity of the person who buys them. People will brand their own clothes, their own shoes, and so on.”
From Fortune 500 companies to government agencies, branding can be poorly executed and frightfully expensive.
[Re]-branding doesn’t mean recycling with new slogans and logos, it means a comprehensive do over. And establishing a brand is only the beginning, as advertising, marketing and public relations follow with even bigger budgets to extend the brand and infuse it into consumer culture.
For those who do it right, the rewards are often off the scale. Continue reading