As conglomerates grow, branding becomes more and more important. To have a reputable brand matters since all your marketing activities will be on top of branding. In old school, we spend lots of budget for different marketing activities, however we just need to establish perfect brand in new world. And branding, how to brand change as well.
At first step, you should decide whether to continue to invest in one brand or multiple brands. To use the power of branding, you need a definite strategy for endorsed brand or single brand or multiple brands.
After having decided on branding strategy for the right positioning, the second step is the right architecture. What I mean by saying this is that there is a risk for conglomerate brands to lose the good side of branding and make some wrong moves while establishing it which has no way back. Let me give some steps recommended for brand architecture;
First question is that “How do we create differentiation factor for our branding to set my company apart from its competitors?”. That gives the answer to your identity so that you can start to create your strategy. You know about my style, I would like to talk about strategy. Second step is stakeholder map. How to enable branding towards whom is the key thing. Sometimes you should only use it towards customers. However, when you go deeper, you see customer is not only stakeholder for your company. Let’s not forget that we should consolidate all our activities to branding. Brand matters than other small things. Third topic is to create brand architecture mentality within the company. Whatever we do is going to have some effects on our brand. That mentality needs to be memorized by each employee. Later on, there will be reflections of things to do for our branding. Corporate communication, customer visits, know how, legal things, employee engagement, all these activities, we should think twice to understand the effects to brand which we cannot change easily. Our architecture needs to be designed step by step. To sustain the brand, you should articulate core value proposition clearly and consistently. You should come up for your employees an brand voice structure and try to make people to think how they contribute.
There is one sensitive topic though. This is your senior management. As Next Generation CEO, you should be confident about your management. Since your senior executives should act as role model on branding. While you do lots of activities to increase your branding, one wrong move by seniors will make everything zero. This is sensitive and critical. One last recommendation is to choose brand ambassadors within internal and external of your company. Utilize those ambassadors to promote your brand. In next years to come, branding will be more and more important and sensitive. If some economic crises happen, only remaining thing for a company is its brand. If you have a well established and reputable brand, you can re-build the business again and again.
Branding is not the thing you focus on today’s business. Next Generation CEO should be visionary. Imagine your business for next 20-30 years. Where does it go ? Where do you need support more ? Then build your branding according to that vision with culture. That is it on branding for me. Branding needs to be linked to future, not now. Remember my key executive role which I name as Chief Influence Officer. These key leaders will use branding. Branding is one of the key materials for the company to utilize.