Corporate identity is the visual presence of a brand, created by the use of similar color schemes, designs, font and pattern. Vising cards, letter heads, logos,envelopes, etc are some of the main elements of the corporate identity of a company. Corporate identity help in creating a unique image of a company or brand. Corporate identity is of prime importance. It helps in the branding process of your company. Indian SMEs, with limited production, less numbers of employees and limited financial support, aims at increasing the production and profitability of the firm and fail to identify the importance of corporate identity. In the earlier phases of their establishment, Indian SMEs generally have limited funds available with them. So it is considered unnecessary to spend money on the establishment of corporate identity. Branding is very essential for the success of each and every firm and branding is not possible without establishing the corporate identity.
Some of the importance of having the Corporate Identities for Indian SMEs are:
Improves presentation: First of all, well designed and professionally developed, corporate identity helps in making good presentation of your company. For example, once a client visits your company and at the reception, you have the logo of your company, the same logo that you have on your website. It will have a good impression because there is a consistence between the each element of your company. It will improve your company’s presentation.
Give a sense of reliability and credibility: The corporate identity of your company, gives a sense of credibility. The customers feel that your company is an antithetic firm. For example, If you are a buyer and you have received quotations from two suppliers, one supplier have used his company’s letter head with the company logo for the quotation and other have just used white sheet for writing the quotation. As a buyer you will get an impression that the first supplier is more reliable. Isn’t it?
Increment of sales: As it creates a unique and reliable image of your company, corporate identity helps in increasing the sales of your firm.
Make you stand out of the crowd: The corporate identity of your company is your real recognition. The logo of your company and other elements of corporate identity make you different from the other similar brands or firms. For example, Whenever we see the logo of a company, we trend to identify the brand. This helps in increasing the popularity of your brand.
Good impression on business personals: Whenever you meet a client or investor, your business card with the name and the logo of your company will result in having a good impression. Even the Corporate gifts like pens with the logo of the company or pen stand with the name and the tag line of the firm, can ensure good impression on the business personals.
Simply having a logo can’t help in establishing a good corporate identity. Hire professional designers and corporate identity experts for the establishment of your corporate Identity. Most of the SMEs’ owners assume that a simple logo mostly design by themselves, can make the corporate identity of a firm. But it is not the truth. Though limited budget is a challenge for SMEs but it should spend on corporate identity as once your company have an identification or once a company becomes a brand, the profitability will increase to an extent that all the money spend over the creation of the corporate identity will get justified. It is very crucial to develop the corporate identity of a company.