Attaining and retaining customers is the bloodline of running a business. But how can you continue to create for and keep customers if your internal team is demotivated and even quitting at every turn?
According to a Work Institute study in 2017, up to 75% of employee turnover is preventable. Today, we’re taking a look into internal branding. A strong mission and sense of community are essential not only for external growth but for a company’s internal security as well.
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Internal Branding and Business Success
So what is it? Internal branding is extremely similar to general branding, however, its focus is on creating a strong identity of a company to its internal parties. This includes employees, stakeholders, suppliers, and more.
Depending on the company, it can also include the families of employees or stakeholders.
Internal branding is essential when it comes to employee retention and productivity. Think of worldwide recognizable brands, such as Google and Starbucks. Even if you envy their success, there’s no denying that anyone would recognize Google’s colorful logo or Starbuck’s white-and-green siren.
And while you as an external party may be impressed by a Google or Starbucks entry on a resume, this is partly thanks to each company’s branding that emphasizes how valuable it is to be associated with them at all.
Company Values in Internal Branding
So how can you apply this to your own company? One of the best ways to cultivate camaraderie and is through strong internal branding. If working at your company becomes and can stay, as a point of pride for your employees, they are more likely to stay long-term.
Your first step in internal- branding should be to identify what you want each role at your company, to think of the company as a whole. Do you want your employees to know that the company values donating to charity? Or that the company strives to hire the best and the brightest?
Will your stakeholders know that your team values being on top of new trends? Or values making current plans lifelong ones? There are no right or wrong answers here.
Create your company values and then communicate them with all parties, and you’ll soon find that the branding conversations will be started by every individual across teams.
Branded Merchandise Cultivates Community
Another great way to materialize internal branding is to create branded merchandise.
You can gift merchandise to your employees, as well as sell them to the public on an online company store. Axomo created a great article on 10 beneficial reasons to having an online store here
By emphasizing that your company is something to be proud of on items that are used regularly, you can plant the seeds for pride in current and future employees.
Getting Internal Branding Right
There is no wrong answer to identifying your internal branding goals and tone of voice. Be consistent in identifying your goals and values to your team, and you’ll soon find a new, stronger community being formed thanks to your company’s branding.
Ready to learn more about branding, marketing, and how to make your business prosper? Read more on our blog today.