Have you heard about Apple? What about Steve Jobs?
Have you heard about Microsoft? How about Bill Gates?
When we talk about Corporate Branding or Personal Branding these names just flash in front of my eyes how about you? These brands have personally inspired and have left a huge impact on my life.
Personal Branding vs Corporate Branding
In the following video Branding expert William Arruda express his views on Personal Branding vs Corporate Branding.
Corporate branding is the use of company’s name on a product as if it is the name of the product. It is associated with enhancing the manner in which the product is perceived and recognized by the public and the customers. A company can have a very good name but its product may not. These companies therefore decide to brand the product using its name so as to change the perception in the market.
Corporate branding can be very effective especially when the company has already made a good name for itself. It can ensure growth of the company’s sales and eventually this will translate to increased revenue. Personal branding is the branding of a person’s personal attributes, assets and personality. This can be done on all what an individual has or possesses.
It is therefore an important aspect to compare and contrast the two. Corporate branding can be attributed to the company and its products. Personal branding again is more personalized as compared to the former. Corporate branding is known for its enhancement of the company’s economic performance. It is known to make a company that has dwindling product’s sales look up.
Many are the times that a company has resorted to this when one of their products has shown diminishing sales. Corporate branding has been ranked among the best methods of reviving a company’s product that has reached a dead end.
Away from turning around the product, corporate branding has the effect of making a product more appealing to the customers and the general public as compared to personal branding that do not have the same effect and only purposes to make personal satisfaction and gratification. When a product becomes more appealing than it used to be the end results will have an economic implication on the company. The company will have more resources as compared to the earlier days.
Corporate branding is known to affect the operations of the company in very positive way. When the company sales increases and the revenue are ample, the management is likely to increase the salaries of the employees and even offer more enhanced services to its customers. They are also likely to be very timely in terms of paying their creditors and suppliers. The timelier you are in honoring your debts as and when they fall due, the more you are likely to create more confidence in your suppliers and creditors.
A company that has employed corporate branding stands better chance even in the eyes of the financial partners. They will receive more financial accommodation and backing. Personal branding does not guarantee this. Corporate can be very efficient both in the organizations that have multiple products and services and even those that have single products/service. It can work miracles and earn the company recognition and good reputation. After all, this is the main reason as to why the organization is in existence.