Branding can be done in two distinct ways: for businesses and for individuals. There are pros and cons to both options, so it's helpful to have some background knowledge before making a final choice.
If you are an entrepreneur working on launching a business, you may wonder whether it is best for you to build your company using business branding or personal branding. A business brand is built around an identity you create for your business and is independent of your personal name. A personal brand is built around you personally and your name and your business name will be one and the same.
So which option is best for you? Read on to explore the pros and cons of each.
Branding is the practice of giving your company a distinguishable name and logo. Creating a brand entails crafting a name, logo, tagline, and message. Branding your company is crucial since it allows you to differentiate yourself from the competition and leaves a lasting impression on potential clients.
A person's personal brand is the result of their efforts to establish themselves as leaders in their chosen fields. This entails producing information, engaging in professional networking, and sharing expertise at conferences. Developing a strong personal brand is critical to opening doors to better opportunities and advancing your career.
Defining Personal Brands
Personal brands tend to be easier to create given all the tools that are available to us online like social media and personal website and logo design package. They also allow for more flexibility. For instance, if the focus of your product offerings change, it will be easier for you to grow without having to change the name of your business.
Personal brands also are great launch pads for other business endeavors opening the door for speaking opportunities and other entrepreneurial goals.
They are also great for ‘one -person’ industries. They are ideal for artists, authors, coaches and speakers.
On the downside, you can’t state what your company does in the name of a personal brand. Because of this, it will take some time before people start associating your name with the product or service you are providing. This will prove to be an obstacle in building your business.
Defining Business Brands
Business brands are harder to create. This is because they are crafted on an identity that you need to build along with the brand. It takes a lot of hard work, but this could be worthwhile for some people.
Although building a brand takes hard work, the effort you make to establish the identity of your company will give you a better sense of who you are. You will need to think of who your target audience is, your logo and branding and what your company is known for. Doing this will give you a strong sense of what your business provides moving forward.
Business brands are also easier to sell when compared to personal brands. If you decide to move on from your brand and want to sell it to another owner, it will be easier to do so if the business name is associated with its products rather than the person behind it.
A major con associated with business brands is that they allow for less flexibility as compared with personal brands. Personal brands allow for more space for you to grow if you decide to explore a different avenue in what services and products your company provides. This type of growth is not as easy with a business brand.
Although choosing to build a personal brand or a business brand may be a personal decision for you to make, for most it will come down to what type of business they are trying to promote. But whatever decision you make, the expert advice of San Diego graphic design and branding company Lien Design can help move you forward in your efforts. Good luck making a decision that is best suited for you.
Which kind of branding best suits you?
It all comes down to what you hope to achieve. Business branding is the way to go if expanding your company is a top priority. If you're more concerned with creating your own personality and expertise, however, then that's where your attention should be directed.
Combining corporate and individual identities is another option. This is a great choice for people who value their professional reputation, such as business owners and entrepreneurs.
The benefits and drawbacks of each strategy are explored in greater depth below.
Branding a company
Advantages:
• Aids in setting you out from the competition.
• Imparts a favorable impression upon prospective buyers.
• Can raise product profile and customer commitment
• Helps bring in potential business associates and clients
• Increases revenue and success
Disadvantages:
• Can be time-consuming and costly to create and maintain.
• Competition in your industry can make it hard to stand apart.
• It may be challenging to connect with customers on an emotional level.
Identity marketing
Advantages:
• Helps you become known as an authority in your profession, which can lead to more business and prospects.
• Can increase your chances of landing dream jobs and advancing your career
• Often times more personable and interesting than corporate branding
Disadvantages:
• Can take a lot of effort to create and keep up.
• If you're not already well-known, it can be hard to distinguish yourself from the crowd of specialists in your industry.
Tips on deciding which method to employ
You should ask yourself the following questions to help you decide which strategy is best for you:
What exactly are my aims and ambitions?
Who exactly am I writing for?
How much money do I have to spend?
When do I have time to work on my brand?
In what ways might I improve?
The process of creating a successful branding strategy begins with a thorough appraisal of your organization's objectives and available resources.
Some pointers to get you going:
Create a brand identity. Where do you draw the line? Why should people choose you? Just what are you getting for your consumers' money? Once you know what your brand stands for, you can create a logo and tagline that accurately represents it.
Find out who you're writing for. To what demographic are you tailoring your brand messaging? Where do their passions and requirements lie? If you know who you're trying to reach, you can craft a brand that speaks directly to them.
Maintain coherence. Everything from your website and social media to your marketing materials and customer service should share a unified brand identity.
Keep it real. Be honest in your branding, as people have a keen eye for detecting impostors. Talk about yourself, your beliefs, and your interests.
Conclusion
Whether you're branding your company, yourself, or both, it's crucial to create a memorable identity and selling point for your brand. Branding efforts pay off by making a positive impression on customers and helping the company grow.
Additional helpful hints:
Invent tales. Use branding to share engaging anecdotes about your company, its clients, and its staff.
Imagine it. Images and videos are more interesting to consumers than plain text, so utilize them to express your brand's narrative.
Engage in conversation. Connecting with your demographic and expanding your brand's visibility is a breeze with the help of social media. Always keep your following in mind and post frequently.
Just chill out. A solid brand is not built overnight. Don't assume anything will happen instantly. Don't stop making awesome content!