As unique individuals, we are shaped into who we are because of unique sets of personal and social circumstances.
People and events will keep shaping us in the future. Yet not everything happens by chance. We all have a certain degree of control over who we are and who we will become.
In marketing, we speak of brand equity – the power of the brand and how valuable we perceive it to be. Perception of brands is very important because it is what shapes our opinions and, ultimately, our choices.
In the world of finance, a company or an organisation wanting to go public with a bond or a share issue will first ensure that its brand equity is a strong one.
The stronger it is, the more chance for its sale to be successful as the public’s perception will be of a strong organisation worth investing in.
In marketing, I would refer to the Hyundai brand as a classic example. Hyundai was viewed as a brand of convenience, fit for those who just wanted a plain car that could take them from A to B.
Today, the brand is one of the most respected ones in the automotive sector because it understood that today’s customer is ready to pay more for better quality, comfort, aesthetics and technology. Today Hyundai is all about that and people respect Hyundai much more.
Perception, however, is subjective and a brand’s reputation depends a lot on the public’s final judgement. Companies can do a lot to manage this reputation and make sure they remain favourable in their target audience’s eyes.
They can do so through constant contact with their audience, by showing they understand their expectations, by meeting and exceeding those expectations and yes, even by surprising their customers.
As in relationships, these work best when communication channels are always open and when loyalty is nurtured.
The point is that as customers, audiences, clients or buyers, we are constantly expecting the world around us to stop and listen. We are always waiting for that special offer, that prize or recognition in turn for our loyal custom.
Companies nurture their brand equity to be able to grow their business and attract new collaborative opportunities
We expect constant communication from those brands we follow and the first instance this communication line is slightly altered, our loyalties go haywire.
Brands have pampered us for too long and it seems we can never get enough. And that moment we feel that we have been failed, we quickly revert to our preferred social media platforms to vent our frustration.
Then, we sit eagerly waiting for the likes and shares that are today’s currency for approval. We so thrive on approval that social media have given us audiences. The more approval we get, the more our audiences grow. Social media have turned us into brands in our own right.
Indeed, today, we are all brands. Some are very strong, powerful and capable of commanding attention with the least effort. Others sit quietly on the wayside waiting to be noticed or not wanting to be noticed at all. It all boils down to what individuals want from life.
This is why as ‘brands’, we need to learn how to manage ourselves, for our own sake.
Companies nurture their brand equity to be able to grow their business and attract new collaborative opportunities. Employers need to nurture a strong ‘employer brand’ to be able to attract and retain the best talent.
And as individuals, if we want to be perceived as worth listening to and acknowledged for our potential and capabilities, we too have to take care of our own personal brand equity. Being constantly conscious of this fact is the first important step.
One can have the best idea in the world or the most potentially successful business proposition, but if our past actions or behaviour are tainting our reputation, this can only set us back.
Whatever we set out to do in life – whether it’s a new business venture, collaboration, a personal project or simply for professional advancement, we will need others’ approval and their vote of confidence. With these audiences, come bigger responsibilities for us, as ‘brands’. Ask yourself. “Am I credible enough? Am I reliable? Can I be trusted? Am I constructive? Am I respected? Do I bring more value?”
Think of yourself as a business person. Would you want to do business with a person like you? Think of your next potential employer. Would you stand a better chance of being preferred over another 50 applicants?
By constantly being aware that whatever you say or do and whatever you post or share is shaping how people perceive you, you develop not only your personal ‘brand’ but your perceived potential and value.
James Vella Clark is PR and communications manager at Corporate Identities.