Personal Branding Pays: Why a Strong Personal Brand Is Worth the Effort
We spend a great deal of time in this space talking about personal branding. We share strategies, tips, success stories, and more. Every once in a while, it is a good idea to step back and take a look at the big picture—and remind ourselves why a strong personal brand is so important in the first place. So today we are going to evaluate several of the top benefits that business owners and professionals enjoy once they have created a powerful personal brand:
1) Differentiation—as an individual and as a business. A strong personal brand makes you unique within your marketplace. In turn, your individuality sets your business apart from the competition. There are thousands of financial planners, for instance, in this country—but a strong personal brand can help you stand out from the crowd. Why should a potential client choose you instead of the competition? A strong personal brand answers this question and dramatically increases your chances of picking up business from the competition.
2) Client retention. Forget picking up new business for a moment—a strong personal brand makes it easy to retain the clients you already have. Think about the power of branding for a moment… how many people do you know that are incredibly loyal to a specific brand? Whether it be Starbucks, Harley Davidson, Mercedes, Apple, or Rolex, strong brands inspire loyalty. For a business owner, a strong personal brand can have the exact same effect. Your strong personal brand inspires loyalty, and your customers enjoy being affiliated with you. A strong personal brand will allow you to keep customers even when they could find better prices, service, or greater convenience elsewhere.
3) A strong brand makes business fun. Building a strong personal brand gives you the freedom to be yourself. You don’t have to wear a suit every day (unless that’s part of your brand, of course!), you don’t have to carefully measure every word you say for fear of gaining unwanted attention, and you don’t have to pretend to be someone you aren’t. Personal branding is all about expressing your individuality—and once you have built a strong brand, you get to stay true to yourself 24/7.
4) Stop competing on price. Once again, think about the power of branding in your daily life. Pretend you are in a sports store looking at a generic red t-shirt. How much are you willing to pay for it? Now, stick a Nike logo on it. How does that change what you’re willing to pay? If you’re like most people, you are willing to pay a substantially higher percentage for a product made by a brand you love. The same principle applies to your business. Once you have created a strong personal brand, your customers are willing to pay more for your products—giving you the ability to charge higher prices than your competitors and still win the business.
So there you have it—a strong personal brand differentiates you in your marketplace. It makes it easier to retain your clients. It enables you to charge higher prices and still win business. And because you are free to be yourself, it makes going to work every day enjoyable. Keep branding—it is worth the effort!