Watch this episode of MwahTV about What Is A Personal Brand And Why Is It Important For A Business Owner?
In this episode of Mwah TV, I want to clarify what a Personal Brand is and why it’s important for most business owners today. From my research on this episode, I can tell you this is a misunderstood part of branding. Personal branding seems to be a buzzword thrown in to sound trendy and cool.
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What Is A Personal Brand?
Let’s make sure that you get why a personal brand approach works. I want to help you clear up the common confusion right now.
Most commonly, a personal brand is recommended to any business owner who defines themselves as the face of their business – They ARE the business they’ve created.
Traditionally this is the case for anyone who performs the service they deliver:
- Photographer,
- Mechanic,
- Hairdresser,
- Insurance Broker,
- Estate Agent
and on and on.
The Person Behind the Brand – An Example
More sophisticated is the use of a personal brand behind a product. The Dyson Vacuum cleaner is a great example of this. We all know that James Dyson is the clever inventor of the line of Dyson Vacuum Cleaners. Mercedes Benz has a personal origin too.
Mercedes Benz
Emil Jellinek was an entrepreneur who worked with the Daimler Motors Corporation and helped create the Mercedes 35hp in 1900. Jellinek named the new cars after his daughter Mercedes Jellinek and trademarked the Mercedes name in 1902.
But, we know since then, this brand has evolved away from the personal touch with the addition of Benz in 1926.
In A Crowded Market
Using the strategy of a personal brand in a crowded market is often the best option. Trading on the unique benefits you bring to your product or service through your personal and professional life experience is after all what makes you different from the other brands who operate in your market share.
In simple terms, this means people who do the same thing you do at the same quality and a similar price as you.
Crafting differentiation in this way is how you remain unique both more consistently and for a longer period.
Operating As The First To Market
Why it’s a clever idea to adopt it even in an uncrowded market.
I’d go as far as to say that even if you know your business operates in an uncrowded market, taking the personal branding approach is a safe bet. Perhaps you are the first person to offer a new service. Trading on being the first is great. But that only works up to the point when others begin to set up camp. When your direct competition starts doing the same thing you do for a similar price the original stops mattering.
Think of brands like:
And The First Mover Disadvantage
In marketing terms, this is known as The First Mover Disadvantage.
