How To Build Your Personal Branding In Singapore
Shakespeare once said:
“What’s in a name? That which we call a rose
By any other name would smell as sweet”
I first read this hauntingly beautiful line in my literature class during my secondary school days and it has stuck in my head since then.
But now I beg to differ.
If a rose is not called a rose, it would have the same “market” value as it carries. It would also not be the symbol of love.
Here’s a classic example I like to use. Tell me what you think of each of them.
– – – – – – – – – – – – – – – – – –
– Insurance agent
– Financial advisor
– Wealth Coach
– Legacy Architect
– – – – – – – – – – – – – – – – – –
An insurance agent is easily replaceable because there are dozens of such agents around. There is no differentiating factor and that’s why you are losing out. Life is tough. So if this carries on, you will be out of a job very soon. You have been warned.
A financial advisor is someone who knows a fair bit more than an insurance agent. This is probably because of the number of years of experience. However, it still covers a broad spectrum as some are MDRT-class while others are struggling with their own brand identity.
A wealth coach is premium and definitely sells better than the insurance agent or financial advisor. Remember, it’s not just money. It’s wealth we are talking about. And note when you talk about wealth and not money, you are actually providing a more specialised service (ask yourself this question – who is able to command a higher fee – the general practitioner in the neighbourhood clinic or the plastic surgeon?). Now you know why specialists earn so much more than generalists.
How about a legacy architect? To me, that is luxury premium. Like a Hermes…which is highly exclusive. After all, I am preserving my monies for my next generation(s).
To start building your personal branding in Singapore, here’s the top 3 things you must do:
#1: Start With A Personal Brand Label
Brand labels define us and the perception it gives others (our customers). The most important thing you have to remember is to keep moving up the value chain.
Whatever brand label you decide to give yourself, make sure you have enough substance. Don’t fake it because the consequences will be dire. In other words, if you are just starting out in the financial industry, you wouldn’t want to call yourself a legacy architect.
This is because you don’t have any experience. You haven’t served any clients or managed their portfolio yet. And above it all, you have no results or track record to show. So at best, your personal brand label would be either a financial advisor or insurance agent.
#2: Know Your Personal Brand Appeal
Different strokes for different folks.
Do you know your affinity market? In other words, who does your personal brand appeal most to?
Market segmentation is essential because we tend to relate better to a certain group of people, or industry, or niche.
Once you have found your affinity market, you should focus your personal branding efforts to relate and engage them.
#3: Amplify Your Personal Brand Value
We see thousands of people enter the workforce (either as fresh graduates) or mid career entrants. Question is: how do you brand yourself differently so that your message resonates with others?
If there’s anything you need to remember, it’s this word called “value”.
You need to create value for others. This can come in terms of educating or sharing relevant information with them. Do not bombard them with the latest celebrity gossip or Netflix recommendations.
Once value is created, you will be deemed an expert or go-to person in the industry. Slowly but surely, your personal brand value increases in the hearts and minds of your audience. And then they will trust you more. After trust is established, it is so much easier to do business. And if this trust is strengthened, you could even get referrals!
As the global economy stagnates, jobs are harder to come by and openings in MNCs are highly sought after. So the earlier you work on your personal brand and elucidate it, the better.
Branding is a journey and not a destination. If you are keen to build your personal branding in Singapore and would like someone to guide you along, drop me an email here and we’ll be talking soon =)