Now that you’re more familiar with what a brand is, you may be wondering how to create one for your own business.
This takes some time and intentional thought. You’ll need to find a quiet spot to work and bring a notebook and pen. It’s time to brainstorm some ideas.
Consider these areas to identify your business:
- Your core values
- Your strengths and weaknesses
- Your Unique Value Proposition
- Your “flavor” – personality, communication style
- Leadership style
- Relationship style
- Comparison to a well-understood person, place, or thing
Core Values
The first area to tackle is your core values. Examples of a core value: integrity, trust, honesty, leadership, vision, thought leadership, innovation, respect, and competence.
Write down what you think your core values are. What would you like people to think of when they think of you?
Companies with strong core values often use them in their “customer promise” marketing copy. The company makes a commitment to their customers or clients that they will ensure that integrity, trust, honest, etc. will be evident in every area of delivering the product or service.
Have a brainstorming session with your team to explore different ways you can communicate your brand’s values. Then create messaging to promote it.
Strengths and Weaknesses
Next, list your strengths and weaknesses. What do you excel at doing? What are your strongest skills? What is your expertise? What are the weaknesses that obstruct your growth?
It’s important to know what your business is good at doing. Emphasize your strengths and find ways to minimize your weaknesses. With some creative planning, you can sometimes turn a weakness into a strength.
For instance, if you have a small business, you can create a brand that focuses on your ability to offer customers personalized service or you’re able to make changes quickly without a lot of multi-departmental red tape.
Unique Value Proposition
Next, figure out your unique value proposition (UVP). A UVP, for instance, was Domino’s Pizza “Hot, Fresh Pizza delivered to your door in 30 minutes or less… or it’s free!”
Consider the promise you’re making to your prospective client. What is the benefit they’d receive from doing business with you? For Domino’s Pizza, they promise to deliver a hot, fresh pizza within a short span of time. Then they cap off their promise with a guarantee (which is very powerful).
Your UVP needs to clearly state a promise, how it will benefit your client, and then to really clinch the deal… a guarantee. Include your unique expertise or the value you deliver that is different from another accounting firm or financial consultant/adviser. As an example, a CPA firm, Blumer CPAs, has as their UVP, “We proactively lead clients to equip them for growth.”
There are several key words within that sentence. “Proactively” means they’re taking charge and actively guiding their clients toward success. “Lead” conveys authority and expertise. “Equip” is a great word to communicate a partnership and attitude of helpfulness. “Growth” is what every business ultimately wants because it will allow them to take on more business and be profitable.
“Flavor,” – Your Personality and Communication Style
Next, take a good look at your personality. You might want to employ the help of those who know you best. Ask them how you come across. What are some of the words they use to describe you?
Maybe you’re patient and deliberate. Or perhaps you have a great sense of humor that can encourage someone when they need it the most. An advisor who knows how to make people laugh… why not? Or you could be the strategic “Big Thinker” who helps people see possibilities they didn’t consider before.
Write down all those traits. They’ll come in handy as you develop your brand.
Leadership Style
Next, think about your leadership style. What kind of a leader are you?
Years ago, I was involved with life coaching. One of the questions a coach would ask a potential coaching client was this: “Do you prefer Oprah or Dr. Phil?”
Many women immediately recognize the difference. Oprah’s style of communication is warm, inspirational, and encouraging. Dr. Phil’s style is bold, blunt, and often confrontational.
Think of the leaders you admire and then consider your own style of leadership. Are there any similarities? If not, how are you different?
Relationship Style
Relationship style is another area that may require outside input. I’ll use myself as an example for how to describe your relationship style: I’m open but deal in “black and white.” I am diplomatic but do not shy away from telling the truth, even if it might be uncomfortable. I’ve been called honest and a “straight-shooter.”
Ask those who know you best what it’s like to engage with you professionally and socially. Are you easy-going or intense? Do you listen at great length before giving your response or can you read people quickly and in short order, sum up the issue they’re talking about? A good description for that would be incisive or insightful.
Comparison
Finally, compare yourself to a person, place or thing that will allow someone to understand you better.
Example: “I’m like a trusted Sherpa who will guide you safely through the mountains.”
Or, “I’m like a Swiss watch—dependable with interior processes that work seamlessly together.”
Or, “I’m the Rolls Royce of advisors, delivering elite servicing with impeccable style.”
Developing a brand is a lot of fun. Once you get a handle on what makes you different, you’ll find marketing is a lot easier. You’ll be able to capitalize on what makes you unique and truly stand out in an extremely competitive marketplace.
Partially excerpts taken from the book, The Maverick Advisor: The New Rules of Marketing for Financial Advisors and Consultants – Get Great Clients, More Respect, and the Fees You Deserve, by Mary Rose Maguire.
