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Personal Branding: Can it Help Your Business?

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          When a customer leaves your store what do you think they will remember? Is it a vast amount of products? Is it an overwhelming amount of space and employees? Probably not. They probably remember the one or two people in there and how they treated them.

          When starting a small business it is especially important to understand that your own personal brand will shine through. Reputation is everything when trying to grow a brand and you build a reputation by developing trust between your customers and yourself. But, the question is how do you develop that trust which in turn forms a reputation. 

3 Reasons why a Great Personal Brand can Help Grow your Business 

Trustworthiness and authenticity are becoming increasingly important

          Especially as time goes on, as a small business this should be the idea that you put a lot of emphasis on. Understanding that trust is important is essential because it increases loyalty within a consumer base and solidifies the reputation of the business. Think about it this way, If you walk into a store and you’re greeted by a staff member and they ask you what you need then proceed to recommend a product based on their own guarantee, that holds weight. Now their reputation is on the line because if the product works you’re more likely to come back and that trust is being built. But, if the product doesn’t work that trust is severed and there is a risk they lose business. 

          This is risky but necessary for a small business. When competing with endless stores in an area it is important to find ways to make your business stand apart. But, it is also important to remember that once a reputation is built, whether good or bad, is hard to get away from. 

Here are a couple of ways to start building a good reputation: 

  1. Recommend products that you would use yourself 

  2. If you don’t carry a product tell your customer where else they can find it  

  3. Make sure employees are well trained because they are an extension of not only the business but the owner as well

  4. Find ways to give back to the community 

It is a very low-cost form of marketing 

Having a personal brand often exceeds your business’s overall brand. You ultimately want people to visit your business because of what you offer as a business owner. Whether that be knowledge, the ability to build meaningful relationships, or the experience that a customer has when they visit the business ect.
           Having a great social media presence as a business is important. But, what is becoming more important is how an individual social media account separate from your business account can help grow a brand. Take Elon Musk, for example, he is most famous for the creation and development of the Tesla automobiles but, he has a presence outside of that brand that is valuable to consumers which allows his business and credibility to grow that much more. The question is how do you do it? 

  1. Connect with customers on a personal level 

  2. Prove your expertise to increase credibility (blogs, instructional videos)  

  3. Interact with other businesses in your market 

  4. Provide a face for your brand

It enhances your mission and story

          People need to know your business’ story. They want to know how you got started and why you continue to stay open. Your mission and story are a great way to give a customer a look into how you think, what you value, and how committed you are to your craft. These reasons alone are sometimes the deciding factor on if consumers take a chance on new businesses, especially in this day in age where transparency has become essential to business development. 

The last thing to remember is that patience is key. Growth doesn’t happen overnight and as a business owner, you shouldn’t want it to. The reason you started in the first place is to challenge yourself and to do what you love. Personal Branding has to be a part of that challenge now and it is becoming more and more important as time goes on so educate yourself, Implement new ideas, and be patient!

Other Sources

https://www.entrepreneur.com/article/354437#

https://neilpatel.com/blog/build-personal-brand-blogging/

https://www.forbes.com/sites/goldiechan/2018/11/08/10-golden-rules-personal-branding/#5d13e1cb58a7

The 12 Archetypes

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Why are the 12 Archetypes important?

These twelve archetypes help brands figure out how to market to their different demographics. Each of them have different characteristics and personas that can help when trying to make strategies for social media. For example, if a brand’s personality is to be a Jester, they would want to post witty and humorous content on all of their platforms. It is possible for a company to have more than one archetype. For example, let’s take a look at Bankable.

Bankable has two archetypes for each of their demographics. For their small business owner persona, they have an Everyman type. This can be seen on Bankable’s Facebook page. The content that gets posted on there is all tools and resources that any business owner can use. We also try to add a more lighthearted and informal voice to make us more relatable to the everyday business owner.

For their referral partners/ambassadors, they have a Creator type. At Bankable, we want to help as many small businesses in Indiana as we can. We try to do this by meeting with bankers and other people who can send small businesses our way. 

It is helpful to take a look at all of the archetypes to help discern where you might be in these twelve different areas. Below are the 12 Archetypes that can help you figure out your own personal brand.

The 12 Brand Archetypes

The Magician: to make dreams come true

If a brand has the magician archetype, it is important that they can solve and go beyond what a consumer needs. This could be by showing innovation and imagination. Some brands that show this off well are Audi, Redbull, and Apple.

The Sage: to help the world gain wisdom and insight

The sage is an archetype that is based on finding the truth. The thirst for knowledge and information is what encompasses this trait. By having knowledge, brands are then able to help people understand how things work. Some other brands are CNN, TEDx, HP, and Harvard.

The Innocent: to be happy

This archetype is all about having strong values and virtues. A company would want to strive to remain good, simple, and moral in this type. Examples of this done well could be Coca-Cola, Dove soap, and Snuggle.

The Outlaw: to break the “rules”

These are brands that are paving the way for change. They want to give a space for their consumers to vent or share their opinions. They also try to have new and revolutionary technology. A few brands that do this well are PayPal, Harley-Davidson, and DIOR.

The Jester: to bring joy to the world

Giving their customers smiles is what the jester archetype does well. These brands want to make consumers feel better after purchase. There are many brands that do this well. A few of them are Old Spice, IKEA, M&M, and Netflix.

The Lover: to inspire love and intimacy

When thinking about how to market to relationships, this is a powerful archetype for that. It is a trait that teaches consumers to appreciate themselves and that they deserve to indulge. This is a more niche archetype and fit companies like Godiva, Nespresso, Ferrari, and L'Oreal.

The Explorer: to discover

These are authentic brands that do not fit into the mainstream. They are independent and seek adventure. A lot of these brands have to do with travel or the great outdoors. The brands that do this the best are Go Pro, Jeep, and Timberland.

The Ruler: to control and create order

This is for the luxury and high-end brands. It is about setting a standard for consumers of what the best is supposed to be by making the world a less chaotic place. Great examples of this done well are Rolex, American Express, Starbucks, and Mercedes.

The Caregiver: to care for and protect others

Relationships and nostalgia are what the caregiver archetype does best. By providing their consumers with security, they are able to build long-standing loyalty. Brands that accomplishes this well are Johnson & Johnson, Campbell's Soup, and Toms.

The Hero: to help improve the world

This is a brand that is not supposed to resemble a consumers day-to-day. This archetype is meant to make consumers feel like they are doing something to improve the world. This is a harder one for brands to pull off, but the ones who do it well are Nike, Tag Heuer, BMW, and Dell.

The Everyman: to belong, or connect with others

This is a brand that fits many different demographics. They work to make consumers feel understood and give them exactly what they want, and that is quality and dependability. Because this archetype reaches such a broad group of people, there are many brands that fit this category like Kit Kat, Visa, Wendys, and GAP.

The Creator: to create meaning and value

If a brand's demographic falls on the creative side, it is important that a brand portrays how it can help those individuals. It is about being visionary and authentic. It is taking new ideas and making them actuality. This is why Crayola, Lego, Canon, and Swatch thrive in this archetype.

To have further clarification on what brand archetype your business might be, here is a great quiz that can get the ball rolling. These archetypes are helpful when trying to plan out marketing goals and strategies for the new year. If you need any assistance in planning or executing your strategies, email us at marketingadmin@bankable.org!  

Written by: Cassie Sanchez

Bankable is a nonprofit organization that is focused on the economic development of Indiana communities through the creation, growth, and sustainability of jobs through small businesses. This is done by equipping under-served small businesses with capital solutions, business development resources, and meaningful mentorship so they can become bankable. Started in 2010, Bankable is a certified SBA microlender, SBA Community Advantage Lender, and a CDFI.