Personal or Business Branding?
Big branding question of nowadays seems to be whether to use personal or business branding when building your small business brand. My favorite solution is personal business branding, the combination of both. So let’s take a closer look at what I mean by that.
Authenticity remains one of the strongest competitive advantages of personal branding. Authenticity of personal branding is referring to its level of genuineness. When a small business finds the development of authenticity in their branding strategies difficult, larger businesses find it impossible. Some small businesses are implementing innovative strategies that make them appear more sincere to potential buyers than larger firms appear to be. Great example of personal branding strategies used by small businesses is the use of personal stories in ezines, newsletters or blogs to connect with readers and subscribers. Large businesses can use this tool too, great example might be Mary Kay Cosmetics, the company that built its authenticity on its founder’s authentic stories.
When it comes to the comparison of personal branding versus business branding, small business is better suited to build its business around its unique personality. It is extremely difficult for a large corporation to squeeze all its multiple personalities into one magnetic one. A magnetic personality contributes to the level of attractiveness a potential buyer associates to a given brand. It is this personality that increases the possibility of repeat follow-up business from a current buyer and decreases the loss of potential buyers to a competitor. A magnetic brand personality helps a small business build customer loyalty. Going all out could never be a bad idea for personal branding. It is an effective way to personalize the product or service and make it stand out. Most of the larger companies may have a distinct advantage over production and unit costs; however, their level of customer service, in most cases, remains impersonal and stagnant.
Personal branding is far more effective than business branding with regards to certain key success factors in an established market. They are usually more efficient at delivering fast, accurate technical assistance. Further, small businesses can offer a far more personable customer service. Not to mention, efficient small businesses find it less challenging to keep accurate pertinent customer information, as well as order information. A small business may be able to establish and maintain a competitive advantage and market position by offering far more attractive customer guarantees and warrantees than a larger organization. Offering a faster delivery time or personalized care are other advantages that can be exploited effectively by small business.
Although business branding has production and unit costs under its belt, personal branding does offer some advantages that large businesses can find hard to duplicate; for example, a superior workforce, personalized customer service; attractiveness, unique styling and packaging; faster delivery time; and practical and useful customer guarantees and warranties. The power of the potential buyer in the multifaceted chain of business branding and sustaining a competitive advantage cannot be over-emphasized in personal banding, especially when competing against established corporations.
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- Personal Branding Methods to Achieve Instant Success
