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This is a market oriented era. If you have a good brand value in market, you will get good response if not; it's very difficult to convince people.
From an HR point of view branding is very important. If your organization has a good brand image in the market, it will help you in getting right workforce at right time and at the same time you will have a control over the employee cost. An organization with no brand name has to shell out lots of money to attract and retain the right candidate
Branding can be done in two ways: (1) External Branding and (2) Internal Branding.
Lots of factors may influence the branding strategy of an organization, like A) Nature of Business B) Nature of market C) Target reception D) Budget flexibility E) Long term mission of the organization F) Organizational structure. Etc. These are the few to count on but there may be many as per the business
Branding Strategy
A) Nature of Business – Branding should be based on the nature of business. Like if an IT company goes for a fashion show, it may not yield the same results as it would have got by going to IT Fair or something similar. A real estate company may go for some road show on property market.
B) Nature of Market – It is always recommended to gauge the market before going for any project which involves market risk Like if you are targeting to explore a Financial market or banking and at the same time it is marred by some other factors like Inflation, you need to design your strategy which could help you in overcoming the negative trend.
C) Reception Target – It's always good to define the reception target or the audiences. If you are planning to sell Villas and targeting the middle class, probability is very high that you will end up spending your time and resources in wrong direction.
D) Budget Flexibility – Budget always plays an important role in deciding the strategies. If your budget doesn't allow you to spend a lot, its always recommended to partner in any event where other participants are not of your field and it has got at least one participant who has got a good market value so that you can attract the crowd.
E) Long Term Mission of Organization – Also the long term as well as short term goals of the organization should be kept in mind. If the organization does not have any long term goals in the target market or location, it's always recommendable not to go for branding or it is very much required go for a small, low budgeted branding event.
F) Organizational Structure – Organizational structure is also very vital part for deciding any strategy. Organizational structure is the strength of any organization and any event or branding can be done based on that. Like if your organization does not have lots of hierarchy steps, you can boast of Flatness and claim of equal behavior. And if you have different layers, you can market the clear definition of roles etc.
External Branding –
External branding refers to branding which is done by using external sources and which may (or may not) require some investment in monetary or other forms. Let's see the different means of doing external branding.
(a) Use of Job Sites – As HR the first thing which comes to the mind is recruitment, so Job sites also offer good branding opportunities through different means like Pop ups, pop ins etc. It's always better to go for pop ins as most of web browsers come with pop-up blockers.
(b) Banners – Banners are also a good mean for branding. Banners can be of both types' means Online Banner and Street banners. By Online banner, your organization name will be flashed on different web pages as per your choice and price. Street banners are good for bigger requirements |
