Entrepreneurs must have a strong personal brand in the cutthroat business world of today. Building a strong personal brand may help business owners stand out from the competition and open doors to long-term success. The deliberate, purposeful process of defining and communicating your unique value proposition is known as personal branding. Even though people have traditionally taken considerable care to build their public personas and reputations, social media and internet search have significantly increased the possible audience for these efforts as well as the dangers and benefits involved.
What is Personal Branding?
The majority of individuals are aware with the concept of product brand building. Usually, it contains brand colours, logos, and information on how the product may help consumers. A person or business can establish a brand identity through personal branding. Business executives and founders frequently mix up their personal and company brands. The two are hence interchangeable. Your business may be strengthened by developing a personal brand that explains why you are the most qualified candidate for your role. Customers should select you over your rivals because your personal brand makes it clear who you are and what you stand for.
- Differentiation: Personal branding therefore plays an important role for any entrepreneurs who need a way to distinguish themselves within a competitive economy. This way entrepreneurs demonstrate what makes them and their business special to succeed in attracting the attention of potential buyers. Forbes’ study shows that 77 percent of customers determine their purchases by the brand of the company associated with the particular product.
- Credibility: For a personal brand to be effective, it has to be credible. When developing their own business, start-ups make people believe in them as experts and creators of value for the target society. The Edelman study reveals that such information is credible to 81% of customers.
- Networking: Personal branding improves on the prospects of networking. Having a clearly developed personal branding, the entrepreneurs themselves become more recognizable for others. This in turn favours them to make proper network, relationships and connection that matters in the growth of there professional circle. LinkedIn has opined that 85 percent of jobs are obtained through Networking.
- Opportunity Magnet: Strong personal branding repels opportunities. Overall, business owners who’ve built up a good level of personal recognizance are inclined to discover that they are very busy chasing business instead of having to actively look for it. It can be done in the form of public speaking, media appearances, collaborations and other businesses among others. Speaking to those we know over coming across promotional messages, 92% of people in a survey conducted by Entrepreneur trusted recommendations from friends.
- Customers do not trust brands but rather their fellow men or individuals behind the brand. This offers companies the ability to send messages across geographic space and to have access to consumers than is possible using traditional marketing communication channels. Unfortunately, the same means can be used by scammers to initiate a call or write an SMS to an innocent person. Brand creation enables you to establish yourself and what you represent, which will later be of important aspect to customers. In this way, customers feel that you are related to them and can trust you.
- Today, information associated with businessmen and individuals are many times more exposed than wanted. At any rate, there is information about you on the internet, even if you are selective about what’s out there, and people will form an opinion about you based on what they see – for instance, people decide about you without ever meeting you. Personal branding makes you create your own management of the external image and offers an opportunity to offer customers such voice that they seek. When customers feel that you are a specialist in that certain field and are creating a strong display of supremacy that offers value to the needs of a customer, they are likely to buy products from you.
- Personal branding enables the business owners to avail the dynamics of change appropriately. When a venture is operating in a dynamic economy, a recognized personal brand can shift the direction or explore other ideas without erasing their value. Personal branding increases the confidence and influence of the entrepreneurs. Start-ups can also achieve a position whereby through confidence, entrepreneurs can take up additional challenges and become role model.
At 77 Million, we recognise the role that personal branding plays in propelling business success. Our group of branding specialists can assist you in creating a thorough personal branding plan that complements your career objectives. Call us now!
