Differentiating your financial services firm is becoming increasingly difficult especially with such high levels of regulation so might have previously been a unique selling point is now standard across all advisory firms. Chron reported that differentiation can gain brand loyalty by increasing the customer’s perception of value, for more information click here.
Your firm almost certainly has some marketing in place to get its name out there and heard amongst any potential clients, but have you ever considered the benefit of marketing yourself as a brand?
As a financial adviser you are a brand for the service you and your firm provide. This series of blogs is based on an article by Forbes. They look at the importance of personal branding, the key elements required, as well as how to establish and enhance it.
Personal branding refers to people marketing themselves and their work as a brand. You may not necessarily realise you have a personal brand but it is achieved in your work by maintaining your image or reputation. Your personal brand or personal identity is formed through aspects such as your personal qualities, strengths and vulnerabilities.
The importance of a strong personal brand
As a financial adviser your personal brand will have helped you get to where you are now. This may, or may not be in a commercial sense but you will have made known your qualities which will give implications as to your capabilities and the service you provide.
Building your personal brand lends credibility and authenticity to your business, especially if that business is you. If you work in a team of advisers, your personal brand will need to have some congruence with your businesses brand. A strong personal brand also increases your visibility and familiarity in your industry which is expected of experts in their field. It is important to be aware of your personal brand as it can also strengthen your career success. This is particularly true for professionals such as financial advisers who work in a trust based industry.
The importance of a personal brand and consistency
Investopedia has reported that consumers trust in brands and corporations is declining. Combined with this, the average consumer is subjected to over 5,000 brands a day. Therefore, it is really important that your personal brand is kept consistent so that you are easily identified and not confused with similar identities. Therefore, you branding message needs to be bold enough to stand out from the crowd and consistent so the brand is remembered after repeated exposure. This is particularly important as Crowdspring consumers form an impression on a brand straight away, and yet it can take an average of being exposed to that brand 5 -7 times for it to be recognised and remembered.
Consistency in a brand also communicates authenticity, trust and strong connections in your clients. This will result in your personal brand demonstrating expertise and expanding. To present a consistent image you should consider:
- A logo based on your name
- Repeated brand style
- Repeated use of the same profile picture
- Repeated tagline
- Specific colour schemes
- A similar outfit or style
Defining your personal brand
In order to define your personal brand you need to be very self-aware. That is honestly understanding your qualities and values. Click here for pointers on building your self-awareness. This will require focused introspection on your traits such as your values; passions and skills help identify the authentic traits of your brand. Once you are aware of this you can strategically use the traits in communicating your brand.
As this blog has introduced you to the importance of personal branding and how to define it through self-awareness, keep an eye out for out next one which goes into more detail on how to establish your personal brand in your marketing.
Read more about the basis for the series of blogs at: https://www.forbes.com/sites/shamahyder/2014/08/18/7-things-you-can-do-to-build-an-awesome-personal-brand/#68039d3f3c3a