02 Jan The Difference Between Corporate and Personal Branding and What’s Right for You
To establish yourself in the corporate world, you need to build for yourself an identity. This identity usually precedes you and acts as the pointer of your company. This identity in the form of your company’s name, logo or other specific details that can only be associated with your company is in essence, your branding.
The elements or areas that are used to develop a company’s brand are called touchpoints and they include the company’s logo, how they treat and train employees, advertisement, quality of products and services and also the company’s packaging. Suffice to say that branding is the full representation of what you want people to think of your company.
There are several reasons why a company has a brand and these are not limited to;
The brand is a representation of what your company is and answers the basic question of “what are you?”
It shows what your company has to offer.
It distinguishes your company from its competitors and suggests (subtly or otherwise) why your company is the better option.
At this point, we can agree that the company’s branding is very important and its purpose is geared to attract the right customers and meet the company’s set goals. However, different branding models can be adopted and each one depends on the company itself.
There are different types of branding as mentioned earlier but for this article, we would focus on two of the major types; corporate and personal branding. Corporate branding is simply promoting the brand name of business while personal branding involves marketing people involved in a business or otherwise.
Here is a rundown of the differences between the two major forms of branding: corporate and personal.
The first thing most people would notice about a company would be its name. Most companies take time to select the best name that represents their company and its ideals. The name plays an important role in branding and it is no wonder why companies trademark their name.
The difference observed between the two types of branding is that for corporate branding the company/ business name is always used while for the personal branding, you get to use your name. A corporate brand e.g. Apple is known as such, Apple. That is its company name and what you would see in advertisements and its documentation. On the other hand, Kim Kardashian West as a brand is an example of a personal brand.
In this example given, personal branding can be done by people with celebrity status. A successful personal branding from a well-known personality can ensure a transition into an ambassadorial role for this person’s company, products, and services. Most people simply refer to personal branding as “self-packaging” before the correlation with the company comes in.
A company’s logo is one of the most important symbols of identity for a company. It usually gives the first impression of the company to customers and is a visual representation for the company. Note that the brain captures, interprets and stores images more efficiently than words. For example, Apple is a company that uses its company’s logo ( a bitten Apple) on all its products and advertisements and is very popular for that. On the other hand, a personal branding logo is usually but not limited to a personal or artistic way of typesetting the name of the owner.
In corporate branding, the company strives to remain relevant by ensuring it is continually rated highly among its customers and staff alike. Therefore, there is always the tendency to do the right thing and to do almost what is expected in this setting. Essentially, it’s reputation depends on external and internal ratings and reviews.
For personal branding, however, its reputation depends on the person in charge only. Since it has been established that the personality involved works solely and is not dependent on others, then his branding reputation depends on only him.
The typical structure of a company involved in corporate branding would have to include more than 1 person; it is usually a full-fledged company after all. For personal branding, however, the obvious structure involves one person usually the solepreneur or entrepreneur.
How to determine what brand is right for you
With the differences between the corporate and personal branding observed, it can be noted that both of them have their respective benefits. However, they can be made to thrive properly if used in the right environment.
The factors that determine what type of brand should be used is simply.
The particular job type or company
It has been established that a celebrity would most likely go for personal branding due to the influence he/she might already possess. It would interest you to note that even the non-popular entrepreneurs and solepreneurs can also adopt personal branding. In their case, they would need to build themselves up to become influential. Let’s also not forget that personal branding is characterized by having one person owning the brand so this works well for entrepreneurs too. Jobs like freelancing, consultancy, public speaking or even a job seeker would rather opt for personal branding.
For large companies that produce lots of products and would like to maintain a link between all of them, then corporate branding is ideal. Companies like BMW always attach their name to all their products and advertise their products under the company’s name. Because they are a big company known for its quality, any product associated with the brand is usually successful, thereby achieving economies of scope in the long run.
For companies that do not fall in either category, they may need to mix up both types of branding or find another one that suits them comfortably.
On a final note, it should be understood that personal branding and corporate branding may interact on many levels and most times cannot be separated. It is important for individuals to always have their brand irrespective of their job and status. A staff in a company can then merge his personal branding with his company’s corporate branding and amplify both their standings. The most important thing is to choose what works always.
Do you need to branding solutions for your business? Contact Banki Designs for a free consultation.
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