SL corporates need to focus on branding and 10-year strategies
Wimukthi Galahitiyawa
Most Sri Lankan corporates still follow traditional advertising whereas the world has moved far ahead into branding of products and services of an organisation. Branding is a key element for an organisation to sustain for a long term with a strategic plan for at least 10 years ahead.
Lots of foreign companies invest in branding today with many positive results emerging.
These comments were made by Wimukthi Galahitiyawa, Director of Brand Centrical and winner of the ‘Young Entrepreneur of the Year 2016′ organised by the Federation of Chambers of Commerce and Industry.
With 10 years of experience in the advertising and branding industry, Mr. Galahitiyawa told the Business Times in an interview that he started working at the age of 18 as a web developer and designer. On turning 19 he started his own company ‘Mannchaft’ which later became ‘Brand Centrical’ in 2013.
“As a branding company you need to love what you do, have the passion and determination towards what you want to do. You always need to be an open and humble enough to handle clients and an open mindset to offer all the help in return. Collaborate with everyone in the community. This is the success behind the title of winning the award,” he said.
Sri Lankan corporates when they get into business should focus on branding. Branding is something a company needs to identify where it is heading in the next 10 years which is very important more than advertising, emphasized Mr.
Galahitiyawa while noting that advertising is just a temporary marketing tool.
He also noted that even when it comes to advertising corporates are still focused on traditional advertising whereas many digital platforms are
available in today’s context with the trend towards digital marketing.
“When it comes to branding you need to always think out of the box and come up with something unique to impress the community at large,” he said.
Brand Centrical started with just three people and today has a 15-member team with more than 40 clients. Advertising agencies are becoming a competitive business in Sri Lanka but not many are focusing on branding, he said.