You’re probably familiar with the concept of corporate branding. Think of all the commercials, mission statements, logos, slogans, and PR stunts you see from companies every day. You’ve likely come to associate companies with distinct qualities or products. For example, Disney makes fun entertainment, Apple makes sleek and innovative products, and LinkedIn helps you move ahead in the business world.
But what about personal branding? That’s right: you too can adopt a brand for yourself. A personal brand functions similarly to a company brand except that it represents you and nobody else. It shows the world you are, what you’re capable of, and how you can help out others.
Just how powerful is branding? Take Costco, for example.
In 2015, there were around 64 million Americans with a Costco membership — over a quarter of all adult Americans. In 2020, Costco had over 105 million loyal members and shows no signs of slowing down.
A Costco membership costs either $60 or $120 a year, depending on if you’re a Gold Star or Gold Star Executive. That’s a lot of money to pay to shop at a store. What’s the secret behind Costco’s fantastic success?
It’s their brand. Costco’s brand resonates strongly with people due to its competitive prices, employee loyalty programs, and high-quality customer service. Costco thrives on some of its staple products, such as inexpensive gas and lunches and $5 roasted chickens.
Still not convinced? Here are four more reasons why you need a strong personal brand:
- Shows People What to Expect
Where would you go if you needed to buy new gardening tools or home improvement items? If you’re like me, you probably think of Lowe’s or Home Depot. Even if you never shop at either store, you still probably know what kind of items you can expect to find. Lowe’s and Home Depot are the go-to locations for any home improvement purchases they need for many people. That’s how strong their branding is. Such name recognition is a decisive competitive advantage — it ensures that customers think of them first instead of their competitors.
In the same way, you want people to know what they should expect from you. Are you a musician, engineer, marketer, programmer, writer, or consultant? Do your potential customers or clients know this about you? Are you the first person they’ll go to if they want your services?
If you answered “no” to the last two questions, you have some work to do on your branding. You want to solidify yourself in your customer’s mind as the go-to person for whatever services you provide. You want to be the first person they think about.
- Helps You Stand Out From the Crowd
In an ever-increasingly crowded marketplace of people and ideas, it can be tough to make your voice heard. There are thousands of people just like you on the internet, all of whom want access to the same customers or clients.
This is where personal branding comes in. You need some way to stand out from the rest of the crowd and prove your worth and uniqueness. Why should someone choose you over everyone else?
Let’s refer back to the Costco example from earlier. There are thousands of grocery stores, but few are as recognizable as Costco. Parking lots are always packed to the brim with eager customers who can’t wait to fill their carts.
Costco’s commitment to competitive prices, customer loyalty, and staple goods make it an eager attraction for countless people. Many will come just for the cheap gas for $5 chicken and end up making other purchases along the way. Costco isn’t just another grocery outlet for many of its loyal customers — it’s a place for smart shopping and savings.
What’s the competitive advantage that separates you from all the rest? What can you offer that others cannot? Answering these questions will help you establish why you’re the right person for the job.
- It Boosts Your Credibility
Many customers don’t want to just buy from faceless generic brands. They want someone who they can trust. Today’s customers, especially millennials, crave feeling like they have a connection with the brand or company. People will have an easier time warming up to a brand if the CEO or spokesperson is relatable, likable, and in touch.
That relatability factor is part of the reason influencer marketing has become so popular. Customers don’t necessarily want to buy from any particular company — they want to buy from people they can relate to. Influencers like James Charles, Arianna Grande, and Selena Gomez make massive amounts of money by advertising Instagram products. Their audience members believe what these celebrities have to say and trust their endorsement. After all, who would you instead buy something from: your favorite celebrity or someone you don’t know who stars in a commercial?
One example of someone with an excellent personal brand is Elon Musk. Unlike most CEOs, Musk might be even more famous than the companies he runs. He’s well-known for his bold ideas, incredible innovations, and relatable humor. Musk’s fans see him as a visionary who wants to create stunning electrical vehicles and colonize Mars and as a genuine, down-to-earth guy.
When people buy a Tesla car, they’re not just buying a vehicle from any company — they’re buying it from Musk’s company. After all, they see Musk as a genius and visionary, so his company’s products must be equally incredible. Customers associate Musk and Tesla with innovation, futurism, forward-thinking, and boldness.
- Attracts Your Ideal Customers
A significant part of marketing is segmenting your audience to target your ideal customer. In a perfect world, your company would appeal to absolutely everyone under the sun. Unfortunately, very few brands can accomplish this feat, so it’s best to target a specific group of people. (You can, of course, expand your marketing efforts as you grow bigger.)
Even large companies use segmenting strategies. LinkedIn isn’t for just anybody — it’s for business professionals who want to make connections and grow their career. IKEA aims to attract adults who have moved out of their parent’s place and want to furnish their living space with quality affordable furniture. Patagonia’s ideal customers are those who spend a lot of time outdoors and want to help preserve the environment.
Understanding your target audience is key to establishing brand loyalty and trust. After all, you’re here to provide specific needs for your clients, and you can’t serve absolutely everyone. Someone who builds websites is going to have a very different target audience than an HR consultant.
The more you understand your target audience, the better you can appeal to their interests and needs.
Personal branding is of the utmost importance if you want to make it anywhere in the crowded internet marketplace. Your brand is a powerful tool that will help open the door to new opportunities you never before imagined. It will help bring in customers, clients, and connections you didn’t even know existed.
You don’t need to be Elon Musk or Gary Vaynerchuck for your personal brand to resonate with your audience. Rather, you must slowly build your brand over time. It takes a lot of work and determination, but the result will always be well worth your efforts.
Want to learn more about branding? Check out our Personal Branding Strategy Playbook for tips and tricks.
Article Written by Patrick W. Dunne