Wondering what your corporate brand is...exactly? If it hasn't been strategically planned with insight, then it's probably not effective. On the other hand, if it has been successfully managed, it will convey the character and the purpose of your company.

Branding, very much a buzzword today, is often confused with "corporate identity" or "corporate image." They actually have very different meanings:

Corporate identity refers to a company's name, or logo, it represents the visual interpretation or "look" of the company.

Corporate image is the general public's perception of a company, whether that perception is intended by the company or not, favorable or unfavorable.

Corporate branding, by contrast, is an actual business process implemented by a company and executed with inspiration and high energy. The branding process is planned, strategically focused and integrated throughout the entire organization, it establishes the direction, and clarifies the purpose of the brand.

Savvy businesses and corporations spend considerable time and money on branding. Whether catering to a global, regional or local market share, a company's brand is important. When branding is executed successfully, it is the most powerful and valuable asset the company possesses, creating a strong foundation, the very platform on which all the marketing will be built.

"Branding is incredibly important" — says Lonnie Schiller, owner of Cafe Annie and Cafe Express/Taco Milagro. "Look at Starbucks or BMW — obviously they have strong brand integrity, but mastering pulling it all together both visually and verbally is what makes it a successful national brand."

"When you develop your brand, you're almost creating a soul, an entity," says Cissy Segall of Highland Village. "The parts must make sense otherwise the brand contradicts itself." Those "parts," however, need to be well defined and must be appropriate to your business and your customer. When creating a brand, a classic, common sense approach assures longevity. Segall agrees: "There are two schools to marketing," she continues. "One is in-your-face, descriptive. The other is a smoother, more elegant approach. It's simple, if you want an image or idea to last, it can't scream at you. It can't be trendy. It has to make sense long-term. "

A quick look at today's business headlines illustrates the fact that, now more than ever is a good time for companies to reevaluate their brand. In today's economy, consumers are less likely to be adventurous. Consumers are attracted to companies and businesses whose services and products are clearly defined and presented. Owners and marketing personnel alike all face an important question: is the company positioned properly for today's economy? A company should continually review its brand to make sure that it is utilizing the opportunities in any economic climate. A company that makes adjustments to it's brand during a slow economy is well positioned, when the economy rebounds, to come through on top.

Powerful brands influence customer preference, strengthen the bottom line, and boost market share. Yet for many companies, the brand remains an uncultivated business asset.

The world's most powerful brands are never by accident. What drives them is the seamless integration of intelligent strategy and creative expression. They are based on insight into brand dynamics: who the brand targets and how that target market will interpret both the strengths and the weaknesses of it.