• EN
  • PT
  • 2020.02.05

    The role of Branding for Shared Economy Businesses

    (and essentially any business, actually.)

    First things first. What is a Shared Economy Business.

    Shared Economy Business – otherwise referred to as peer economy, gig economy or collaborative economy –is best described as a community-based online platform that allows buyers and sellers to connect by providing and sharing access to assets and services. The advent of the internet and use of big data has made it easier for shared economy businesses to grow and find each other.

    Businesses aren’t just about the buying and selling anymore, they are more about the brand and the stories they are trying to sell. People patronize businesses not only because of the quality of their products, but because they feel connected to the brand and their business. It’s important, now more than ever, for business owners and officers to pay attention to their branding.

    The Organization of Shared Economy Businesses

    Innovation has taken over the business world –it’s either you’re innovating or embracing innovation. For the shared economy, the need to develop a new initiative isn’t paramount. You only need to be open to the opportunities that are around and how it fits into your company’s goals and operations. The basic shared economy model is bent on making customer experiences easier, cheaper and more personalized. Today, a lot of peer-to-peer companies have turned their innovative ideas into profitable business ventures. The focal point for all collaborative businesses is the internet. Whether you’re ordering for a ride through Uber, or you’re renting a house via Airbnb, shared economy businesses need the internet to connect consumers with providers.

    Influence of Branding on Company’s Culture Formation

    A company’s internal culture has a huge effect on how the company and the brand is perceived by consumers and competitors. It is very important that attention is paid to how the culture is branded, especially to employees. Getting this right makes every other aspect of the business concern work effortlessly. Great customer services, pleasant relationships between employees and their employers and every other concern will be determined by the culture projected. The two concepts – company culture and branding –are interrelated and getting your culture right helps build the right brand. Getting a defined culture will mean that you know what you and your business stand for.

    So in building your brand, you need to ask yourself what your business stands for, what you as an employer stands for. A brand that is going to survive a turbulent business world will have to embed its employees as a core part of the brand, so the business can keep going.

    Company culture aligned with Branding provides longevity, consistency and authenticity for a brand. Owners, employees and customers that understand the idea a brand is portraying will help the brand grow immensely.

    But WHY is Company Culture is so important?

    Company culture influences the decisions made at all levels of the business. When making decisions that relate to the company’s culture, business owners need to have in mind that the brand strategy adopted has to be in sync with what they’re trying to portray. The two concepts are intertwined and working on one without considering the other can lead to a disaster. The organizations that stand the test of time are the ones that combine good marketing with excellent HR strategies to build a distinct company culture. Truth is, a company’s success begins from how the employees regard their jobs.

    The best companies today are those who pay adequate attention to how their employees are faring and provide excellent strategies to make workplace feel better. When a company thinks and operate in a distinct way internally, the distinct identity you’re trying to push out will be easy to accomplish.

     The major influence that branding has on a company is that it pushes the company’s culture in the right direction and makes them into the company’s guiding force and make it stand out amongst other similar brands. The brand starts from within and how employees perceive their employer’s core values. It then goes on to influence the consumers’ perception.

    Company Branding and Customer Relations

    When you’re aware that the brand culture influences employees who come in contact with customers directly, you can strive towards creating an excellent culture for your business.

     When this happens, you have assurance that your team will respond in the best way possible to your customers. They’ll help the customers develop a perception to how the company’s image work.

     Satisfied employees play a great role in the success of your company. As a partner or employee, it may not be possible that you attend to all your prospective customers. That part of the job is delegated to someone in your team and when your team love their job and believe in the vision of the company, they’ll be able to pass on the same energy to customers.

    A proper business culture ensures that customer relations are catered for by their employees. The employees are first of all connected to their work, and they’ll in turn influence the consumers to feel connected to the company and its brand. A great company culture supports the creation of sense of belonging for the employee because of the great working environment it provides. Relating to customers will not be tough for these employees because they’re in an environment that allows them develop personally and professionally.

    Succinctly, successfully relating and connecting to customers as an employee is using your company’s culture to form a worthy brand image.

    And that’s why you need a competent Studio to help you with Branding.

    With all that’s been said about culture and branding for businesses, there’s the obvious need to employ individuals that know the nitty-gritty of business culture branding. While some organizations bring on people from inside the organization to carry out this role, it isn’t on all occasions that employees will know how to go about this.  So, it’s extremely important to find studios that knows what they are doing and are willing to dive into your company’s ideals and values to understand your purpose and create the best brand strategy for your business.

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