A sound, strategic corporate identity is often one of the most overlooked assets of a business. Why? Because most companies typically place only aesthetic value their corporate identity.
At Boom Creative, we know it is so much more.
We know that a strong corporate identify system offers three types of value: Economic, Guidance and Inspirational
Your identity system is a critical part of your brand strategy. A recent study by a leading brand research firm found that 41% of American’s don’t trust companies whose logo they didn’t like. The data was clear: consumers thought badly designed logos make brands look cheap. Trust builds loyalty and helps you command the price points you desire. A large Lego building set, for example, can retail for as much as $60. A Mega Bloks set with a similar piece-count sells in the $10 to $20 range. Research from McKinsey shows if volume remains stable, a 1 percent increase in average price improves operating profits by 8 percent. That is three times the increase generated by a 1 percent increase in volume. Does the identity system alone drive this type of brand performance? No, not by itself, but it is inherently connected to the next part: Guidance.
This may seem counterintuitive. Typical thinking says that brand strategy drives the identity, not the other way around. But, think of it this way: when was the last time you browsed through an identity manual? Now, when was the last time you saw your logo? Your logo is something that you see every day. In fact, you probably see it dozens of times every day. When we work with you to create an identity system we challenge you with the tough questions about who you are, your mission, your personality and more. Good systems capture these answers and show them to you and your market every day. The systems enlighten your customers. The identity system is what Paul Rand called “Your Silent Salesperson.” Look at these facts from Yankelovich Partners.
[br] If your identity system is not helping to communicate your message, your message may be lost.
The identity system also provides guidance to another important audience: Your internal staff and partners.
Research shows that company reputation is a key component of employee satisfaction. Employees want rewarding positions, a work/life balance, proper recognition and in today’s socially driven world, they want to work for companies with outstanding reputations. Sears used a model that tied employee attitudes to financial results. When employees felt positive about the company, they demonstrated positive behavior toward customers. Sears found that a five percent increase in employee satisfaction drives a 1.3 percent in customer satisfaction, which results in 0.5 percent increase in revenue growth. ACNielsen utilizes a similar model and states that it finds that when employee satisfaction rises, financial results soon improve.
Your identity is an everyday reminder to your employees of who THEY are.
Boom Creative creates everything you need to successfully implement your brand with consistency and style, enabling you to achieve the desired market perception. A Corporate Identity system may include: