Chances are if you’re reading this article you already understand the importance of branding. Branding is an integral part of marketing. It works alongside your other marketing efforts to create a vision of what your company’s values embody.
Corporate branding and personal branding do however have some rather critical differences.
It can be easy to mix the two up and blurring the lines can sometimes leave you, and your company in a sticky mess.
Many worry about their company image becoming too personal and don’t ever attempt to incorporate any personal branding. For others, the thought of using corporate branding scares them. Some just have no clue about the difference between the two.
Luckily, this article will clear up some myths and take you through the difference between corporate branding and personal branding for you.
Let’s get started.
First, a Quick Overview of Branding
When you are considering branding first, you have to understand what that actually means.
When it comes to the dictionary definition, Branding is the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.
Here’s the simplest way we here at Octopus Creative define brand: Branding is about the promise of a memorable experience. It’s about creating an expectation and delivering it consistently every time anyone comes into contact with your brand, whether it’s the way you answer the phone, how your website functions, your social media presence, your brand voice or how your product/service performs. It’s how you make your customers feel when they are interacting with your brand.
In essence, branding is taking something as simple as water, which is clear, transparent and seemingly obvious and creating a perception and belief in the brand created.
- Perrier’s water branding makes it seem refreshing, bubbly and high-end
- Evian’s brand makes you feel young
- Fiji Water’s brand embodies health, purity, and nature
But all are just clear translucent water; it’s how they created the brand image that made them stand apart.
So why bother branding? Because the main benefit of branding and the reason to employ branding is to boost profits.
What’s the Difference Between Corporate Branding and Personal Branding?
When it comes to the difference between corporate branding and personal branding, it’s important to look at both the pro’s and con’s of both types of branding and when it’s most effective.
When a Personal Brand Works
It’s never been easier to create a personal brand for yourself. The tools that are available today allow you to create a website and social media for yourself as a brand that can run alongside your business.
Deciding which type of brand you want to create for your person is a challenging subject, so let’s go through some benefits and negatives.
Pro’s of a Personal Brand
Personal brands can be flexible. This is an important point to remember, as your business grows, sometimes so do the services that you offer.
If you’ve created your brand completely around one service or product offering, suddenly changing that could be a problem for your corporate branding. Developing a personal brand is something you build around your name and you as an individual, therefore it’s easy to change what your focus is.
If you want to develop a speaking career, a personal brand is a great way to begin as it can help to associate your name with your area of expertise.
Personal brands also tie really well into one-man-band industries. If you are an author, artist, professional speaker, or Youtuber, having a strong personal brand will help to boost your business and attract new and interesting customers, viewers, bookers, or whomever your target audience is.
Con’s of a Personal Brand
When you invest heavily in a personal brand, you will need to associate your brand with what you do. You can do this with something like a tagline that you use regularly with everything you do. You can also associate with what you offer by pairing your name with interviews, articles, creating social media posts and booking speaking engagements around your area of expertise.
This can be risky though. If something were to ever happen to you–whether a medical issue or a PR issue–you may not have the framework in place to have your business run without you in the spotlight, and you may not be able to effectively separate yourself from the business, which is you.
It can also be hard to sell a business that has been built on a personal brand, and even when starting out it can be an important factor to consider. You may have no plans of selling your business now, but if in the future there’s even a chance of this happening, it’s an important thing to consider.
When a Corporate Brand Works
When you are looking to create a corporate brand, it’s going to take a lot more upfront work. Why? Because rather than using your name you’ve built years of credibility behind, you’re going to be making a new one, out of thin air.
This can mean a lot of hard work as you craft meaningful words out of nothing but the effort could be well worth it in the end.
Let’s run through some of the reasons you may or may not decide to choose corporate branding for your business.
Pro’s of a Corporate Brand
When you focus on corporate branding, you force yourself to consider the plans for your business–your business is now a real, legal person if you’ve formed a corporation. When it comes to selecting your businesses name, you have to think about a variety of different things like:
- Who your ideal customer is
- What your business will offer
- What people will know your business for
- How you want to stand out in a crowded market
Going through this process helps you to create a vision in your head for what you want people to know your business for and where you see it going. This vision goes above and beyond the name and tagline of your business.
Corporate branding also allows you to position the company exactly where you want to be from the get-go. You can use all the words you like, so make sure to find a few that adequately express what your business is offering.
This helps you to get your customer to understand exactly what you are all about from just hearing your name.
Corporate brands are also a lot easier to sell than personal brands. If you can create a recognizable brand that’s an asset, then other people may be happy to pay for.
Con’s of a Corporate Brand
Unlike personal brands, corporate branding is much more labour intensive. You’ll create a picture of what your company is all about, while you are still building it from the ground up and you may have to do it with multiple people that need to try to come to a consensus.
You’ll also find that corporate brands aren’t as flexible to change as a personal brand. If you decide to change course and offer something completely different you may force yourself to start a second business.
What Branding Is Right for You?
With both choices presenting different advantages, it’s time to consider which brand option is the best for you and your business.
For more help coming up with a spot-on brand strategy for your business, contact us today.