How does Personal Branding cost you money? Why does one matter? what’s the worth you provide to your customers? What does one want to be known for? Who is going to be your target audience?What’s the end result you’re trying to realize by Personal Branding? Why does one spend plenty of money on marketing? Is marketing and Personal Branding the same?
Well, we have always heard that companies have brands or products that have brands but developing ourselves as a brand is new for many of us.
So,what is Personal Branding?
Personal branding is not just about making oneself world-famous or well-known. This can literally mean for most people the first experience of yourself as a brand, the perception of who you are and what your values and beliefs are.
Personal branding process includes discovering yourself, your identity, creating a name for the things you want to be remembered for, and then letting yourself be recognized for them. Ultimately, the goal is to create something that can communicate a message and be monetized.
We’ve all heard of these entrepreneurs — Bill Gates, Mark Zuckerberg, Elon Musk — these entrepreneurs have distinct personal identities, inseparable from the things they’ve built. They created something and have become associated with their product because of their Personal Branding. Ex-Bill Gates and Microsoft, Mark Zuckerberg and Facebook and Elon Musk and Tesla
But is the Personal Branding enough to monetize your product? The answer is NO, Personal Branding is not enough because you cannot be invested in and cannot be sold.
You need to understand your customers, develop a product based on their needs and communicate with them, establish a reputation, and eventually turn them into loyal customers.And this is what Marketing is.
If brand is the why, then marketing is the how, it is about promotion and action. Marketing is aimed at finding, attracting and communicating to buyers and motivating them to act and remain your loyal customers. It is extremely important as is Personal Branding in terms of value.
This process is widely misunderstood and the reason why big companies’ losses money.
So, Let’s discuss them one by one about the whole concept of marketing and where Personal Branding holds in it & how businesses can benefit in terms of value.
What is Marketing? Marketing is not just about selling. So, before you find the customers that are interested in buying your product, you have to be interested in understanding your customer &their needs and thus creating something that fits in the market.
Your aim should be to find or create products that meet the needs, not the products that make money. Because once you create the product according to your customer needs, the product will sell itself.
So what are the Laws of Marketing
· Capturing Marketing Insights — Marketing starts even before the product came into existence. It is important to analyze for the business to know who their target market is and what are their needs.
· Connecting with Customers — Marketing is about sending the right message to the right person at the right time. You need to communicate with your customers to let them know about your product.
· Building Strong Brands — Marketing is about building a brand and capturing a position in the minds of consumers. It is about differentiating your product from the competitor’s product.
· Creating Value — A great product coverts your customers into brand ambassadors. So, in terms of value, your product or service should be priced in ways that reflect the quality it delivers and fits the need of your customers.
· Communicating Value — marketing is not just about new customers; it is also about keeping an existing customer happy so that they remain a customer for life. Word of mouth is the biggest communication tool. Advertising, sales, promotional events are the different communication channels.
· Delivering Value — Marketing is not just about people discovering your product but also have a good perception about your product. It is about creating a quality product which is accessible & available to your target customers.
Marketing is useful in positioning in the customers’ minds about the product. So it is very important to select that medium for promoting or advertising that suits the company needs.
Medium of Marketing are
· Traditional Marketing
· Digital Marketing
The debate is long and ongoing between traditional and digital marketing. In the end, it comes down to the one that suits the company’s needs.
Traditional Marketing implies any form of marketing except online.It includes print, broadcast, direct mail and outdoor advertising like billboards. This marketing strategy helps to reach targeted audiences from newspapers to radio.If you intend to target very large audiences-your preference should be — Traditional marketing.
Digital marketing is digitally marketing your product. It’s run online, such as paid advertising on social media, email marketing. Digital marketing has become increasingly common due to the changes in culture, technology and society around us.This is the best medium to reach the affluent English-speaking community with spending power.
But there are pros & cons for both the methods:
Although Traditional marketing costs less, it doesn’t validate whether or not the ads work, you can’t get the feedback. You do not interact with the consumers you sell your products, either.
Whereas, Digital Marketing helps you to open up with your consumers and get an immediate response to your ads. But because digital marketing relies on technology and, sometimes, technology breaks.
Now moving on to the essential marketing aspect which is the
CATT funnel model.
It is the product marketing cycle that transform your leads into the customers. The end goal for any business is to attract the customers thus generating sales in terms of revenue.
WEALTH = n^CATT where,
[n] — Niche — Niche is nothing but your target market or customer for whom you want to create the product. This is the first and significant move in the funnel, since your success and wealth depend on the niche you choose
[C] — Content — You need to create a content that attracts people from your niche. You can share your content through blog posts, videos, live webinars and more.
[A] — Attention — After creating the content, it is important that people visit to your website & content. You can drive traffic using SEO, social media, Paid ads & referrals.
[T] — Trust — People will revisit your website or content once you develop trust for your brand. Thus, building trust is an important aspect in the CATT funnel because it will decide if your audience can be converted to your customers. It takes time to build trust in the mind of your audience for your product.
[T] — Transaction — This is the final step of funnel, which converts your trusted leads into customers. Once, you have gained your audience trust, it means you have successfully sold your product and convert them to your loyal customers.
Now every business’ main focus is on generating more leads and demand for your product.In this era of modern technology, where people are digitally advanced, businesses can use one of these marketing strategies to attract customers from their chosen niche market. And that is:
Integrated Digital Marketing Technology.
As the name suggest, Integrated Digital marketing is the integration of multiple marketing strategies to form a cohesive online approach for your business.
This means you can use
· E-mail Marketing
· Paid Advertising
· SEO (Search Engine Optimization)
· Social Media
· Content Marketing
The aim is to Sell & Convert i.e Sell your product & convert your leads into customers.
Importance for using this technique is you can communicate with your customers and get their responses in real time and since you are using various channels of marketing to deliver your message to end users , you will get better chance of attracting customers.
Last but not the least, there’s a reason some of the most well-known, well-defined brands are often closely connected to the reputation of the person behind them. And that is all because of Personal Branding
Personal branding lays the foundation for success in your professional life. Through effective brand positioning, you can make your customers think in a certain way about you which will lead them to think about your product as well.
It is a powerful tool in today’s world where people want to do business with people but no corporations. So , you have to keep evolving by yourself as a brand and keep tracking your customer’s behaviors.
EVOLUTION OF PERSONAL BRANDS
There are 6 stages in evolving yourself as a Brand
Ø LEARN — Develop a habit of learning new skill every time. Once you get advanced in your skill, try the new one. Be passionate in what you learn and always have a learning approach.
Ø WORK — Execute whatever you learn. Practice makes a man perfect, practice your skills to become professional.
Ø BLOG — Post about what you have learned and implemented. Share your experience with others. Get feedback and improve.
Ø CONSULT — Once you became professional in your skill and have shared your experienced with others. People will consult you for your advice. Help others to boost your personal brand by solving issues & problems of your audience.
Ø MENTOR — Mentor those who wants to become like you. People have seen your skills, your work, your experience, you have brand yourself and now they want to learn from you.
Ø STARTUP — Start your own product or service that fulfill the needs of your targeted audience. Create a product which not only creates a message in the world but also create value to you in monetary terms.
Finally, I would like to conclude, To earn a penny Personal Branding is as important as Marketing.
Personal branding is good for you, good for your business. Creating yourself a strong personal brand will always have positive impacts on you and your product. And Marketing your product or service is equally important.
To convert your audience, you need authenticity and clarity in each of the above-listed steps, enabling your target market to effectively associate with your brand personality and values. Whatever the scale of the most successful companies, they rely on both branding and marketing.If you want to know how you can be connected with your customers, you can learn more about here
If you are interested in reading How to generate earning through Content Writing, you can learn here