Global markets have a lot to offer healthcare—if you’re prepared.
Last week I covered four objectives healthcare companies have when branching into new markets, and why your brand might need to adapt in order to meet them.
Here are four additional goals that might signal a need to re-think your global healthcare brand identity. How many are on your list?
5. Improve or alter your existing business image
Whether you’re creating something fresh from the ground up or expanding an existing product or service into new markets, entering the global arena adds an international component to your brand’s persona. It’s worth considering how your brand might be designed or altered to increase its appeal, both to buyers in new cultures and existing customers back home.
6. Establish a new corporate image
Making the jump from “XYZ Corp. America” to “XYZ International” is a major milestone. A complete rebranding of your company at this crossroads is an efficient way to make any positioning shifts you need to succeed in new markets while attracting great PR coverage. Even if you’re already a global company, a new identity program can refresh your image and encourage new thinking about how customers do business with you.
7. Promote new business ventures
Branding updates and additions are a great way to build awareness of new product lines and services. You can create harmonious branding to strengthen associations with existing products, or do something completely different to imply the independence of new business segments.
8. Establish or increase image distinction
When Starbucks unveiled its new logo in January of 2011, a key component was missing: the company’s name. This didn’t just make their logo easier to use in international markets, it also made a bold image statement. The new icon says: “We’re an institution. We don’t have to tell you who we are, because you already know.” Changes to your healthcare brand can define your cache in a similar way by encouraging strong associations. International credibility, quality and safety are just a few of the concepts that may be implied.
Is your healthcare brand on the verge of going global? You’ll find valuable tips to ensure your success and avoid 5 common global branding traps in our new parathink briefing: Meeting 21st Century Challenges to Global Healthcare Brands. It’s almost hot off the (virtual) press— it will be available next week! So be on the lookout soon.
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