If you asked the London Telegraph what the world’s most powerful brand is, they would cite recent surveys that overwhelmingly point to Ferrari. Despite making fewer cars than some of its rivals last year, Ferrari is the world’s most powerful brand, according to Brand Finance. If you looked at the Forbes most valuable brand list you would find Apple followed by Microsoft and Google.
That being said, what really piqued my interest recently was the how – how are brand’s valued and why. Simply put, Forbes looks at the numbers – the most profitable bands are the most valuable brands. Of course there are many long standing rankings for brand financial value: Interbrand, Millward Brown BrandZ and Equitrend to mention a few, but new research points to what is being referred to as Brand Social Currency!. It is made up of six key dimensions or “levers”—Utility; Affiliation; Identity; Conversation; Advocacy; and Information.
Personal Branding – So what you ask?
Well, from a career development and professional development perspective, are we not brands? The more valuable and known our brand is, the more opportunities exist for promotion and increasingly senior level challenges. Just think about two of these “levers” in terms of your personal brand – and ask yourself a few simple questions.
- In my current position, how well known are my abilities and skills.
- How wide spread is accurate information specific to what I am able to do and have done in the past?
- What have I done to maximize the availability of information – specific to me.
What we are really talking about is Brand Design. The big guys spend a great deal of time on it – we can pay attention as well by ensuring that our information is out there and accurate.
When you see the Apple or the Golden Arches we immediately identify with the Brand Logo. So do people identify certain attributes to our name and presence. What words do you want associated with you name – winner? someone who delivers? Someone to be trusted? We have an identity within our workplace. We should guard it carefully!
Personal Branding – not self-promotion
To be clear, we are not talking about crass self-promotion – we are talking about Brand Management – we are talking about leveraging every opportunity that enables anyone to identify our name with certain values. Without a doubt, the World’s Most Admired Brands – Ferrari, Microsoft and Google take it seriously – shouldn’t we?