Celebrity Branding: Establish Your Value and Stop Competing on Price
Why is personal branding worthwhile? There are many reasons, but today we’re going to focus on one of them: Developing a dominant personal brand will allow you to stop competing on price. You won’t have to charge rock-bottom rates in order to bring in new business, and you won’t have to worry about customers bolting for a competitor the moment they find a lower price.
Here are several ways to accomplish this with your personal brand:
- Use your personal brand to highlight your experience and qualifications. Your customers want to know that they are in good hands. If you can position yourself as experienced and well-qualified, you allow them to simply relax and trust that you’ll get the job done right. That sense of confidence is exceptionally valuable—and most customers are willing to pay a premium for it.
- Use your personal brand to emphasize your expert status. Media exposure is key—whether that means writing a book, publishing articles in nationally circulated magazines, or appearing on local TV. Many business owners laugh at this idea when we discuss it for the first time—their common response is “what in the world would I have to talk/write about?” But every business owner has a story to tell, and you are no exception! Emphasizing your expertise makes it easy to charge higher rates… because it’s a given that working with an expert means paying a premium rate.
- Use your personal brand to communicate what makes you different. A well-defined personal brand makes it easy for your market to understand what makes you different from everyone else out there. At the Celebrity Branding Agency, we are passionate about the music and entertainment industry, and it shows—whether it’s on social media, through our website, or in face-to-face conversation. As a result, our clients know that we have the ability to leverage the same tools that are available to A-list celebrities. Take the time to define your most valuable points of differentiation, whether it’s your education, a revolutionary new product, or a commitment to exceptional customer service—and work to incorporate them into your personal brand.
Your clients prefer to do business with experts whenever they can. Think about it—when your child is sick and you have to choose a doctor, which would you prefer—one who is generic and non-descript, or a recognized expert in his field? Of course you’ll choose the expert. The same goes when you’re choosing an accountant to prepare your taxes, a real estate agent to help you sell your home, or even a mechanic to work on your car.
If you can develop a personal brand that communicates your qualifications, your expert status, and the attributes that set you apart from the competition, it will be very easy for your market to understand the value that you provide. And at that point, your target customers won’t blink at your price tag—because the value you provide more than justifies it.