There is one factor that currently impacts every aspect of your business, and you may not even realize it: your corporate identity.
Consider these facts about corporate identity:
It affects employee turnover. Individuals want to work for businesses that are well-regarded in the community. Businesses with a negative reputation and a bad public image quickly lose top talent.
It directly impacts investment. Which company is more likely to attract investors: one that is virtually unknown or perceived as juvenile and inexperienced, or an established business with known prospects for growth?
It determines relationships with suppliers and vendors. A business with a powerful corporate identity has leverage to negotiate better prices with higher quality suppliers than an unknown entity.
It can affect relationships with government bodies. Do you operate in a highly regulated industry? What kinds of compliance issues do you face? A business known for honesty and transparency can work with regulatory authorities more effectively than one who is not.
It influences your customers. Do you want customers who turn to you because your business is an authority in the industry? Because youprovide premium products and services known for exceptional quality? Or do they trust you because of your exceptional customer service and attention to detail?
All of these factors are a direct result of your business’ identity. This identity is comprised of many different parts, many of which are well within your control. How do you handle public relations? Have you engaged in creative marketing concepts to give your brand a unique and distinctive voice? How does your business interact within your community, whether local or global – is it distant and aloof, or engaged in important causes
Directly influencing your business identity is your business’ name. A name can create an immediate impression and reaction in your customers, which is why many companies engage business naming services to help them find the right words to evoke the proper emotional response.